Position Overview
This role involves acting as the lead auditor for the planning and execution of risk-focused third-party audits across the UK and Europe. Responsibilities include delivering high-quality file reviews and audit reports, as well as managing the resolution and closure of audit actions.
The individual will oversee the performance and workload of audit officers and support the audit manager in managing external audit providers.
The role requires adherence to agreed service levels and all applicable regulatory requirements.
Key Responsibilities
Duties will include, but are not limited to:
- Leading the planning and delivery of risk-focused, high-quality third-party audits.
- Building and maintaining strong relationships with third parties, delegated authorities, internal auditors, and external auditors.
- Contributing to the creation and development of annual third-party audit plans.
- Tracking and monitoring audit outputs, remediation plans, and reporting progress to relevant committees.
- Ensuring audit recommendations are monitored and followed through, and escalating risks to the Audit Manager as needed.
- Identifying trends, themes, and risks within third-party activities and communicating these to appropriate stakeholders.
- Evaluating third-party internal controls to provide risk-based assurance on business processes.
- Collaborating with various teams and departments across the organisation to ensure an aligned approach to audit assurance.
- Managing the audit modules within the delegated authority audit management system to ensure plans and scopes are adhered to.
- Supporting intra-group companies in maintaining high audit standards.
- Liaising with teams such as Due Diligence, Claims, and Underwriting to identify synergies and opportunities for process improvement.
- Maintaining awareness of regulatory requirements, including those from UK and European regulatory bodies, and compliance with data protection regulations.
- Completing all required training and professional development activities within specified timeframes.
- Actively participating in fitness and propriety assessments and performance reviews.
- Undertaking additional tasks as required to support organisational needs.
Qualifications
- A degree or equivalent qualification in Accounting, Finance, or a business-related field.
- Professional accountancy qualification (e.g., ACCA, ACA, CPA) is preferred.
- Certification in insurance (e.g., CIP) would be advantageous.
Experience
- Background in the general insurance sector.
- Experience in one or more of the following areas:
- Auditing, including internal audit roles
- Compliance or quality assurance
- Claims management
- Complaints handling (complex/specialist cases)
Skills and Competencies
- Strong stakeholder relationship management and communication skills.
- Excellent attention to detail.
- Understanding of regulatory frameworks (e.g., FCA, PRA) and compliance within the general insurance sector.
- Knowledge of insurance and reinsurance practices.
- Ability to analyse processes to assess compliance with business and regulatory requirements.
- Effective both as a team member and independently.
- Strong organisational skills to meet tight deadlines.
- Adaptability to work in dynamic, fast-paced environments.
- Willingness to travel within the UK and internationally (up to 10%).
- Proficient in MS Office applications, particularly Word and Excel.
