The National Insurance Corporation Group (“the Group” or “NIC”) comprises the National Insurance Corporation, Castries Car Park Facility Limited, National Insurance Property Development & Management Company Limited, Blue Coral Limited and St. Lucia Mortgage Finance Company Limited. The Group is seeking to fill the post of Head of Group Internal Audit to lead its Group Internal Audit function.
Summary of Duties Reporting to the Group Audit Committee, the HGIA is required to develop a broad comprehensive program of internal auditing within the Corporation and its subsidiaries, to assess the risk management, control and governance processes in the Corporation and for advising management concerning their condition; to plan and execute audits in accordance with accepted professional standards and to report audit findings and make recommendations for the correction of unsatisfactory findings. The successful candidate will be responsible for, inter alia:
- Managing the internal audit function and the staff of the Internal Audit Department;
- Liaising with the Group’s external auditor to ensure an efficient annual audit of the Group’s financial statements;
- Developing a flexible annual work plan using an appropriate risk-based methodology to submit to Group Audit Committee for its review and approval.
- Implementing the approved internal annual audit plan. This could include:
- Determining the effectiveness of established risk management procedures and assessment of methodologies employed by the Corporation;
- Appraising the effectiveness and application of administrative and financial controls and reliability of data that is developed within the Corporation;
- Evaluating the effectiveness and efficiency of and adherence to the Corporation’s plans, policies and procedures and compliance with the National Insurance Corporation Act and National Insurance Regulations, Cap 16.01 of the Revised Laws of Saint Lucia and any superseding legislation;
- Ascertaining the adequacy of controls for safeguarding the Corporation’s assets and, when appropriate, verifying the existence of assets;
- Conducting appraisals of effectiveness and efficiency in the use of Corporation’s resources and make appropriate recommendations to management;
- Coordinating internal audit planning and scheduling activities with management and the external auditors.
- Planning the scope of audits and preparing audit programs, determining the audit procedures to be used, and performing the audits all in accordance with internationally accepted internal auditing standards.
- Making oral or written presentations to the Group Audit Committee and management during and at the conclusion of the audit examinations.
- Reporting on the results of examinations and making recommendations for correcting unsatisfactory findings, improving operations and reducing costs;
- Performing consulting and advisory services related to governance, risk management and controls for the Group as appropriate.
Knowledge, Skills and Abilities
The successful candidate must, inter alia:
- be able to demonstrate a professional approach to the working environment, possess commercial awareness, and strong communication skills as liaison with senior management and directors across the Group is an important part of the role;
- have the ability to work confidently on his/her own and as part of a wider team;
- possess appropriate skills in internal auditing, risk assessment, financial reporting and financial management;
- have good organizational and leadership skills;
- have a good understanding of computerized information system controls and the ability to employ Computer Assisted Audit Techniques (CAAT) using the appropriate audit tools.
Qualification and Experience
- A minimum of a Bachelor’s degree in accounting, finance, management, business administration, or related field.
- Professional certification in any of ACCA, CGA, CMA, CPA, CA, CIA
- At least eight (8) years corporate auditing experience, five (5) of which should be in a management role, within either retail or a recognized audit firm.
Applications containing a detailed Curriculum Vitae, certified copies of qualifications and two referees, should be addressed to: –
The Human Resource Manager
Position of Head Group Internal Audit
National Insurance Corporation
Francis Compton Building
Deadline for receipt of applications is February 12, 2021
Please note that only suitable applications will be acknowledged.