Our client is seeking a Head of Internal Audit for a permanent, full-time position based in the Isle of Man. This role is responsible for the internal audit function across the organisation, requiring full accountability, responsibility, and authority for directing and managing the Internal Audit function in line with the Group Internal Audit methodology and regulatory requirements. The jobholder will develop and execute a risk-based audit plan, manage local Internal Audit resources, and coordinate with Group Internal Audit specialist resources. Some travel may be required.
Job Duties:
- Design Internal Audit Plans and seek approval from the Group Head of Internal Audit and the Board on the delivery of internal audit reviews.
- Plan, undertake and lead audits of financial, operational, and risk-based areas ensuring compliance with Group Internal Audit Methodology and best practices.
- Collaborate with the Group Leadership Team to maintain a robust Group Internal Audit Methodology aligned with best practices and professional Internal Audit Standards.
- Present and submit internal audit documents to the Audit Committee for review, comment, and approval.
- Provide quarterly and annual assurance opinions on the internal control environment and key systems of internal control.
- Deliver assurance and advisory audits to assess the effectiveness of Risk Management, Governance, and Internal Control Framework processes.
- Evaluate the potential for fraud and manage fraud risk.
- Liaise and coordinate with other Control Functions to ensure cohesive assurance.
- Assess the adequacy of controls in place to ensure compliance with legal and regulatory requirements and make recommendations as necessary.
- Liaise with the Group Head of Internal Audit on implementing group policies related to internal audit and governance.
- Develop relationships with all stakeholders to ensure open communication and feedback.
- Define Internal Audit recommendations clearly, outlining responsibilities and timelines to improve risk management processes across the business.
- Manage and develop the team of Internal Auditors based in the Isle of Man, including task allocation and review of audit deliverables.
- Act as the main contact point for the Executive Committee on all Internal Audit matters.
- Lead and manage specific investigations as requested.
- Prepare reports for the Regulators when required.
Job Requirements:
- Strong business acumen with a strategic and advisory perspective.
- Motivated to enhance the internal audit function and carry out audit activities.
- Comprehensive understanding of internal control, risk management, and governance processes.
- Focus on business improvement alongside rigorous audit checks.
- Ability to make recommendations regarding the implementation of the Internal Control Model.
- Self-motivated, with the ability to work independently from operational structures.
- Strong presentation skills and effective communication at an executive level.
- Combined analytical and persuasion skills, comfortable working with all levels in the organisation.
- Excellent organisation, written and verbal communication, analytical, and presentation skills.
- Strong relationship-building and influencing skills, acting as a trusted adviser to internal clients and stakeholders.
- Proficiency in analysing complex issues.
- Ability to establish and maintain positive relationships with peers, management, key stakeholders, and clients.
- Relevant qualifications in internal audit, accounting, finance, or business (CIA, CMIIA, ACA, ACCA, or an Actuarial qualification).
- Hands-on internal audit experience in insurance or banking (minimum five years post-qualified experience) or equivalent external audit experience with a Big 4 firm, preferably in a multinational environment.
- Solid knowledge of local and international market practices, rules, and statutory regulations.
- Excellent analytical, interpersonal, time management, and communication skills.
What You’ll Love:
This role offers the chance to play a key part in maintaining and enhancing the organisation's reputation. You will work in a collaborative environment with opportunities to develop your skills in regulatory oversight, policy creation, and risk-based supervision. The organisation values professional growth and offers ample opportunities for training and career development.
