Head of Internal Audit (Life Insurance Project)

Key Accountabilities (1)

• Plan and lead a team to execute various types of audits and advisory projects of assigned areas/countries (including supporting Regional and Group-wide audits which covered the assigned countries) in accordance with the audit methodology, departmental standards, and regulatory requirements.
• Assess adequacy of risk management and internal controls in business. Present findings to and reach agreement with the business unit management; make practical and value-added recommendations to improve control environment and efficiency and effectiveness of operations.
• Prepare clear, concise, and well-organized audit reports in accordance with departmental service standards.
• Perform risk assessments and audit plan based on risks and applicable requirements for assigned areas.
• Prepare and present audit updates, audit reports, audit plan and department budget to Senior Management and the Audit Committee or its equivalents.
• Prepare presentation materials for various committees and executive meetings.
• Utilize technology to improve effectiveness and efficiency of audit process.
• Ensure quality of work completed.
• Manage projects within time budgets and target dates, reporting any timing problems or budget over-runs to audit management.
• Provide coaching to team members and manage their performance and expectations.
• Own relationship management responsibility of assigned area/country. Assist business unit management by providing consulting advice.
• Follow up with business unit management regularly on the status/implementation of remediation actions for timely audit issue closure.
• Actively participates in departmental initiatives.
• Collaborate with other control functions to address higher risk items of the Company.

Success Profile - Qualification and Experiences

• 12+ years’ relevant experience over internal audit of life insurance and asset management sector. Having insurance and fund management qualifications (e.g., LOMA) is a plus.
• Sales and Product compliance experience, and Actuarial experience in valuation, product development in pricing would be considered an asset.
• Good knowledge of audit methodologies, control frameworks and risk management techniques.
• Excellent communication skills, for both oral and written English. Able to deal with confrontations and resolve conflicts.
• Proven leadership skills and demonstrate people management capabilities.
• Proven relationship skills including ability to deal effectively with staff at all levels to Assistant Vice President. 
• Results-oriented with a keen focus on quality and delivering value; ability to balance multiple priorities and projects; strong attention to detail while retaining focus on the “big picture” and top risks; flexible and organized with the ability to oversee multiple projects concurrently.
• Ability to quickly understand business processes and risks, identify key controls, analyze complex situations, reach appropriate conclusions, make value-added and practical recommendations and influence management to take appropriate actions on recommendations.
• Recognized accounting (CA, CMA, CGA, CPA) or auditing (CIA, CISA) professional designation.
• Strong team-player who willingly and openly shares ideas and knowledge. Able to collaborate with different team members in a multi-cultural environment.
• Provide clear and timely constructive feedback. At the same time, actively seeks feedback from others and incorporates any necessary changes.
• Challenges the status quo and proactively makes suggestions for continuous improvement.

Problems/Challenges

• Effectively communicate with business unit senior management and staff, to present audit findings clearly and concisely, reach agreement on appropriate solutions to risk management and operational efficiency issues.
• Prioritize and time management in a multi-tasking environment.
• Need to work overtime to meet internal or external deadlines.
• Analyze business processes and controls over a wide diversity of operations across Asia, including in life and asset management business, identify key risks and control deficiencies, and develop practical and value-added recommendations for management implementation exercising sound business judgment.
• Establishing a high level of credibility and maintaining sound business relationships with business unit and department management and staff.
• Some degree of work and meetings beyond Asia office hours and business travels within Asia.