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Company Name : RQIHUS
Location : New York, NY 10019
Job Description : Job Summary
The Audit Manager will assist the Group Head of Internal Audit (HofIA) in managing, planning, and leading audit reviews across R&Q Group Investment Holdings Ltd and its subsidiaries in particular the USA and Bermuda segment. The Audit Manager will also be responsible for contributing towards Group and subsidiary policies and procedures, liaising with external auditors, ensuring compliance with new and existing legislation, and undertaking various investigations and ad hoc projects across the Group.
This is a high-profile role, providing significant exposure to Management. Regulatory knowledge is essential. In addition, you must possess the ability to identify opportunities for improving cost-effectiveness within business processes.
Key ResponsibilitiesAssist the Group Head of Internal Audit in the preparation of an effective Risk Based Internal Audit Plan and risk assessments in TeamMateManage individual risk-based audits and delivery a high-quality audit service. This will include:
1. Planning the audit, based on the risks associated with that review
2. Undertaking detailed audit testing and review of processes
3. Producing detailed and structured Audit Reports, containing audit objectives, methodology, findings, and constructive recommendations for future improvement. The Audit Report should also require Senior Management to provide management responses, agreed action points, and dates for implementation.
4. Follow up on the implementation of agreed action pointsConducting Risk Management and Compliance reviews in line with good practice requirements.Manage the follow-up process. Review and record actions were taken by management to implement issues reported in audit reports. Determines that actions taken are appropriate for the circumstances or initiates further discussions with appropriate management and staff.Be responsible for the US/Bermuda segment of the audit plan and conduct reviews to assist the HofIA in providing independent assurance. Undertake or assist with thematic reviews across the Group as directed.Assist the HofIA to perform forensic accounting reviews and investigations as directed by the
HofIA:To assist the HofIA in the preparation of a monthly update paper for the Executive Board & Audit Committee. The paper will include an update on recent audit reviews conducted and assurance on the internal control/ risk management environment across the Group.Represent the Group Head of Internal Audit in meetings as when asked;Assessing the impact of new guidance, new financial, insurance-related legislation from regulatory bodies and ensuring full compliance within the Group.Liaison with Senior Management TeamIdentify and contribute towards the continuous improvement across the GroupInvolvement in change-management processes, following up on key recommendations made in audit reviewsUse TeamMate for delivering internal audits.Management of staff assigned to audits and day-to-day management of US IA staff. This includes ensuring time management, quality control over working papers and reports are produced to a high standard for sign-off by HIA.Assist with the identification of key risks for the Group and develop comprehensive audit plans to monitor management’s controls over those risks.Assist in the management, development, and training of professional audit staff with sufficient knowledge, skills, experience, and professional certifications to meet the R&Q Group’s audit requirements.Review and challenge the R&Q Group’s policies to ensure that they are up-to-date and relevant.Maintain audit files by documenting the audit procedures used and each of the audit reports completed, including effective quality control processes.Undertake any other tasks as directed by the Group Head of Internal Audit.To maintain compliance with any applicable UK or International statutory or regulatory obligation as required by the role. This includes but is not limited to obligations arising from:
§ The prudent management of the business.
§ Placing due regard on the interests of customers.
§ Observing rules on Sanctions and financial crime.
§ Regulatory requirements and local licensing restrictions.
SKILLS / KNOWLEDGE / ABILITYStrong Accounting background from Top 10 firm of Accountants (BIG 4 preferred).Up to 5 years of External/Internal Audit experience in reviewing systems and controls.5 years minimum experience of working within the Insurance Market.Experience in writing reports of high standards.Systems & Risk Based Internal Auditing.Good regulatory knowledge.Ability to work alone and as part of a team.
EDUCATIONAL / EXPERIENCEGraduate and CPA qualified plus 5Yrs PQE. OrMIIA with minimum 7 years PQE.
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