Chief Internal Auditor for Micro Insurer in Polokwane
Phuti Life · Polokwane, Limpopo
Overview
Phuti Life, a licensed micro insurer, needs an experienced Chief Internal Auditor to build and lead its internal audit function in Polokwane. You will set up the audit charter, risk based plan and combined assurance strategy, then provide independent assurance to the Audit Committee on financial, IT and compliance risks. It suits a Certified Internal Auditor with at least 5 years experience, including 2 in insurance or financial services.
About the role
Phuti Life is a licensed micro insurer looking for an independent minded internal auditor to establish and lead its internal audit function in Polokwane. This is a senior role for someone who can work with minimal supervision and has a strong background in insurance or financial services.
You will be responsible for setting up the internal audit function from the ground up, including developing the Internal Audit Charter, preparing a risk based annual audit plan for the Audit Committee, and coordinating a combined assurance strategy. Day to day you will evaluate internal controls, financial systems, cybersecurity, compliance and operational processes, and report findings to the Audit Committee every quarter while tracking management actions.
You will also assess IT general controls, POPIA and FIC Act compliance, and the effectiveness of the actuarial function. Fraud risk assessments and special investigations will form part of your work as directed by the Audit Committee.
Application note: No application instructions or closing date were provided in the listing. Please visit the source page for details on how to apply.
Requirements
- Degree (NQF 7) in Internal Auditing, Accounting, Auditing or a related field
- Certified Internal Auditor (CIA) professional designation
- Active IIA South Africa membership (a CA(SA) with internal audit experience may be considered)
- Minimum of 5 years internal audit experience, including 2 years in insurance or financial services
- Sound knowledge of Insurance Act 2017, Prudential Standards, IFRS 17, FIC Act and POPIA
- Must meet fit and proper requirements: clean criminal and credit record, not debarred by the FSCA
- Proficiency in MS Excel and data analysis tools
- CRMA, CISA or CFE would be an advantage
Responsibilities
- Establish the internal audit function and develop the Internal Audit Charter
- Prepare a risk based annual audit plan for approval by the Audit Committee
- Evaluate the adequacy of internal controls, financial systems, cybersecurity, compliance and operational processes
- Provide assurance on financial reporting and returns submitted to the Prudential Authority
- Coordinate a combined assurance and risk governance strategy that integrates all internal and external assurance providers
- Evaluate IT general controls, data privacy (POPIA) and FIC Act compliance
- Assess the effectiveness of the actuarial function and compliance with board approved policies
- Conduct fraud risk assessments and special investigations as directed by the Audit Committee
- Report findings to the Audit Committee quarterly and track agreed management actions
- Maintain independence and objectivity at all times in line with IIA Global Internal Audit Standards
Job details
- Organisation
- Phuti Life
- Location
- Polokwane, Limpopo
- Job type
- Full time
- Experience level
- Senior (5+ years)
- Education
- Bachelor
- Category
- Accounting & Finance
- Application Method
- Apply online
Success Guide
For this Chief Internal Auditor role at Phuti Life, you need to show that you can work independently and set up an audit function from scratch. Highlight your CIA designation and any experience in insurance or financial services on your CV and in your cover letter. Be ready to talk about how you have built audit plans, dealt with regulators like the Prudential Authority, and reported to an Audit Committee. Also be prepared to discuss your knowledge of IFRS 17, the Insurance Act and POPIA. Since this is a senior role, give concrete examples of audits you have led and how you handled fraud risk assessments or special investigations. Make sure your application shows a clean criminal and credit record as this is a fit and proper requirement.
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