Prime Insurance Company Limited
Prime Insurance Company Limited is inviting applications from suitably qualified candidates to fill the position of Internal Audit Manager tenable at its Head Office in Chief Kilupula Building – Lilongwe. The Internal Audit Manager will be reporting administratively to the Chief Executive Officer and functionally to the Board of Directors. The overall responsibility of the Internal Audit Manager will be to direct, research and design the appropriate audit strategies aimed at evaluating the systems of internal controls and procedures that are put in place to provide assurance on adequacy and effectiveness of internal control management and corporate governance.
1. KEY RESPONSIBILITIES
a) Strategic Management
- Lead the development and implementation of an internal audit strategy and annual plan for the company.
- Plan and Conduct audits to assess controls, operational and technical efficiencies.
- Review and advise on the effectiveness and adequacy of existing financial and operational policies, procedures and internal controls
- Provide leadership to the section staff, supervise and manage their performance and development in line with the Company goals, objectives, policies and regulations
- Develop departmental annual work plan and financial budget and monitor their implementation in line with the business plan.
- Supervise, evaluate, instruct, delegate duties and tasks, directs, mentors, counsels and monitors the audit staff and ensure staff compliance with regulations, operating procedures, policies, deadlines, and auditing standards.
c) Internal Audit and Continuous improvement
- Conducting investigative audits and preparing relevant reports for submission to the Board
- Design, implement, test and modify controls in the Company’s systems, to provide assurance of operational and technical efficiency at corporate level.
- Identify instances of over and under control and provide management with a clear articulation of residual risks where existing controls are inadequate.
- Keep abreast of legislative issues, new audit regulations/trends and appropriate audit direction/methodology.
- Collaborating with external auditors on audit matters
- Monitor implementation of the audit recommendations
- Checking management accounts for errors and completeness
- Prepare and present accurate internal audit reports for consideration of the Finance and Audit Committee of the Board
- Report on internal control issues and the implementation of the internal audit
plan to senior management and the Board.
- Produce periodic monthly, quarterly and annual report on the performance of the Audit section.
2. QUALIFICATIONS AND EXPERIENCE
- A Bachelors’ degree in Auditing, Accounting or Finance obtained from a reputable and a NCHE accredited University.
- Professional qualifications such as CIA, CFA and CRMA is a must
- Not less than six years work experience, of which three years must be in a senior management position in a reputable commercial organisation.
- Must be a member of an Audit Institute I.e. Institute of Internal Auditors or a
relevant professional body such as CIMA or ACCA.
3. SKILLS AND PERSONAL ATTRIBUTES
- Understanding of Internal financial controls.
- Extensive experience in Internal Auditing.
- Excellent Analytical skills
- A proven track record in the field of audit, mature and confident with the
ability to interact with senior management and the Board Members in the execution of his/her duties.
- A good working knowledge of computer applications e.g. Microsoft office, computer assisted audit techniques and audit software and all applicable auditing standards as promulgated by the Institute of Internal Auditors
- Must demonstrate knowledge of auditing in computer systems.
Method Of Application
Qualified and interested individuals should submit applications and detailed curriculum vitae with copies of certificates indicating their current postal and email addresses, telephone numbers and names of three (3) traceable referees in sealed envelopes clearly marked “Vacancy: Internal Audit Manager” not later than 16:00 hours 27th October,2023 to:
The Chief Executive Officer
Prime Insurance Company Limited
Chief Kilupula Building
P. O. Box 30280
Only shortlisted applicants will be acknowledged