CIC Insurance Group is the leading Cooperative Insurer in Africa, providing insurance and related financial services in Kenya, Uganda, South Sudan and Malawi.
The Group offers a wide range of products including General Insurance, Life Assurance, Medical Insurance and Asset Management services. As a pioneer and leader in Micro-insurance, the Group’s focus on innovation and excellence in service delivery has differentiated it in the market and earned it international recognition.
In order to execute and sustain its growth and expansion strategy, the Group seeks to recruit a dynamic and visionary leader to join this winning team as the Group Chief Internal Auditor reporting to the Audit Committee of the Board with an administrative accountability to the Group CEO. The successful candidate will provide independent, objective assurance and consultancy services to the organization in order to improve its overall operations, with specific emphasis on the effectiveness of audit management, control and corporate governance processes to drive profitable growth.
- Develop the annual audit work plan that reflects the institution’s highest risks that will be monitored by the audit function as determined by conducting a mandatory annual risk assessment using an enterprise wide approach;
- Oversee and monitor the implementation of the audit work plan;
- Provide an annual holistic opinion on the effectiveness and adequacy of risk management, control, and governance processes and ensure that risk assessment is done at least annually;
- Establish risk-based audit plans to set out the priorities of the internal audit function, consistent with the organizational objectives;
- Report to the Board on a regular basis on the progress of implementation, and advise the Board and senior management in establishing methods to improve efficiency and quality of services, and to reduce the vulnerability to fraud;
- Periodically revise the annual work plan in light of changes in the needs of the organization, and in the law and policies and procedures of government and regulators;
- Coordinate internal auditing activities and plans with other internal and external providers of assurance and consulting activities to ensure proper coverage and minimize duplication of effort;
- Communicate plan of engagements and resource requirements for the internal audit function, including significant interim changes to the audit committee. This communication shall include the impact of resource limitations;
- Ensure that internal audit resources are appropriate, sufficient and effectively deployed to achieve the internal audit plan approved by the Audit & Risk Committee of the Board;
- Ensure timely completion of internal auditing engagements and reports are provided to the Audit & Risk Committee with minimum delay;
- Review policies and programs that encourage managers and employees to report suspected fraud and other improprieties without fear of retaliation;
- Independently investigate and act on matters related to compliance, including the flexibility to design and coordinate internal investigations;
- Act as Secretary of the Audit & Risk Committee of the Board and take minutes of all Committee meetings;
- Review the implementation of Board Audit and Risk recommendations and report back to the Board; and
- Practice and promote a culture of high quality standards, integrity and ethics across the Company.
- Be a holder of a business related Bachelor’s degree gained from a recognized institution. A Post Graduate Qualification in a business related field will be an added advantage;
- Possess relevant professional qualification(s) such as CPA or ACCA or CIA or CISA;
- Be a member in good standing of a recognized professional body e.g. ICPAK; ACCA;
- A certificate in Corporate Governance will be an added advantage;
- Have knowledge and relevant work experience of not less than ten (10) years, with at least five (5) years served in senior leadership position;
- Have thorough understanding of financial management, regulatory compliance, board reporting, as well as demonstrable commercial and investment acumen;
- Demonstrate leadership, commercial and financial analysis and reporting skills; and
- Possess strong organizational and stakeholder management skills and ability to grasp business risks and make sound decisions.
If you believe you can clearly demonstrate your abilities to meet the relevant criteria for the role above, please submit your application including copies of your academic and professional certificates, testimonials and your resume, including among other details your current position, current remuneration, email and telephone contacts of three (3) referees familiar with your qualifications and work experience.
To be considered, send your application clearly marked CICGROUP/CIA/03/2020 addressed to GCEO@cic.co.ke to reach us by Friday 27th March 2020.