Senior Executive – Internal Audit

Job Description

The Senior Executive – Internal Audit supports the execution of internal audit engagements by performing risk-based audit procedures, evaluating internal controls, and assisting in reporting findings. The role ensures compliance with regulatory requirements and internal policies, while contributing to strengthening governance, risk management, and internal control processes within the insurance brokerage environment.

Key Responsibilities

1) Audit Execution

• Assist in performing internal audits across key functions within the insurance brokerage.
• Execute audit fieldwork including walkthroughs, control testing, and documentation of processes.
• Perform substantive and analytical procedures to evaluate control effectiveness.
• Identify control gaps, inefficiencies, and areas of operational risk.

2) Risk & Control Assessment

• Evaluate internal controls relating to:
• Client onboarding and KYC/AML requirements
• Premium collection and remittance
• Commission and revenue processes
• Policy issuance, endorsements, and renewals
• Claims handling processes
• Regulatory compliance and reporting

3) Documentation & Reporting

• Prepare high-quality working papers in accordance with internal audit standards.
• Draft preliminary audit observations with clear issue articulation and recommendations.
• Assist in preparation of audit reports and presentation materials.
• Maintain audit documentation to ensure traceability and compliance with audit methodology.

4) Issue Tracking & Follow-Up

• Monitor implementation of agreed audit recommendations.
• Follow up with process owners to ensure timely closure of audit findings.
• Maintain action trackers and escalate delays where necessary.

5) Compliance & Standards

• Ensure audit procedures comply with IIA Standards and internal audit policies.
• Assist in maintaining audit quality and adhering to documentation standards.
• Support internal and external audit reviews where required.

6) Continuous Improvement

• Suggest process improvements and control enhancements.
• Assist in use of data analytics and automation in audit processes.
• Keep updated with industry best practices and regulatory developments.

Education

• Bachelor’s degree in accounting, Finance, Commerce, or related field (required).
• Pursuing or partially completed professional qualification/certifications (as listed below).
• Part Completed CA / CIA / CMA
• ACCA, CISA or
• MBA – Finance, or any equivalent finance/accounting qualification

Experience

• 2–4 years of experience in Internal Audit, Risk, or Assurance.
• Preferably within insurance, insurance brokerage, or financial services sector or reputed audit firm.
• Exposure to audit fieldwork, control testing, and documentation.
• Basic/working understanding of regulatory and compliance environments.

Technical Skills

• Knowledge of internal audit concepts and frameworks (e.g., IIA guidelines, risk-based auditing).
• Proficiency in MS Excel, Word, and PowerPoint.
• Familiarity with data analysis techniques and tools (e.g., Power BI, SQL – basic).
• Understanding of insurance brokerage operations and processes is an advantage.
• Basic/Working knowledge of AML/CFT, compliance, and regulatory controls preferred.

Tools & Systems

• MS Office Suite (Excel, Word, PowerPoint)
• Audit/working paper tools (e.g., TeamMate, AuditBoard, Pentana or equivalent (as applicable).
• Data analysis tools (Power BI, ACL, IDEA or similar tools)