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SalaryThe Role
The Internal Audit function seeks to provide assurance to the Audit Committee and Board in regards to the effectiveness of the firm’s system of internal controls, governance and risk management.
The function has five experienced managers led by the Chief Internal Auditor (CIA) who reports to the Board and Group CEO.
The function operates in an industry standard fashion with an emphasis of being independent, collaborative and pragmatic. Team members are encouraged to use their judgment when undertaking reviews.
As an Audit Manager, your primary responsibility is to support the CIA in delivering the Internal Audit plan through appropriate audit planning, delivery and reporting.
The scope of Internal Audit work includes the review of risk management procedures, internal control systems, information systems and governance processes. This work involves periodic testing of transactions, good practice reviews, special investigations, appraisals of regulatory requirements, and measures to help to prevent fraud.
Core Internal Audit Role
To fulfil its responsibilities, Internal Audit shall:
- Give assurance on risk management processes and that risks are correctly evaluated
- Evaluate risk management processes and the reporting of key risks
- Review the management of key risks
- Review the adequacy of controls established to ensure compliance with policies, plans, procedures, and business objectives
- Review established procedures and systems and propose improvements
- Follow up recommendations to make sure the effective remedial action is taken
- Carry out ad hoc appraisals, investigations, or reviews requested by senior management
This role will operate across the Canopius Group collaborating with other Team members and colleagues. It will be based in the UK but role holder must be prepared to travel to overseas offices up to once or twice a year.
Responsibilities will include:
On a day to day basis the job holder will be expected to:
- Contribute to the development of the Audit plan, which when implemented will provide objective assurance on the effectiveness of Canopius’ key risk management and control processes
- Manage and deliver a defined component of the annual Internal Audit plan
- Draft terms of reference for audits, identifying objectives and selecting appropriate methods
- Draft comprehensive work programmes for audit assignments in accordance with the scope of audit
- Gather and document evidence of the adequacy and effectiveness of controls to standards consistent with the guidance of the Chartered Institute of Internal Auditors
- Produce audit reports to a high standard using plain business language in our approved style and format
- Contribute to the team by undertaking peer reviews of audit work and Audit Committee papers
- Contribute to the Internal Audit and risk management methodology within Canopius
- Liaise with external firms, engaged to undertake certain Internal Audits, on issues of planning and standards of audit work to ensure that reliance can be placed on their work
- Work closely with other assurance providers to maximise the impact of Internal Audit
- Be assigned as relationship lead to key functions or business areas within Canopius.
Skills and experience:
- Strong demonstrated internal and/or external audit experience in insurance, preferably within Speciality markets and international firms
- Educated to degree level and/or professional industry qualifications (Accounting, Audit, Insurance or Risk Management qualifications)
- Proven experience in the delivery of audit assignments
- Developed knowledge of the insurance industry
- Understanding of UK regulatory and Lloyd’s requirements of Insurers OR US and Bermudian equivalents.
- Good working knowledge of MS Office products (Word, Outlook, Excel and PowerPoint)
- Effective at influencing senior management, underwriters and other colleagues
Our benefits
We offer all employees a comprehensive benefits package that focuses on their whole wellbeing. This includes hybrid working, a competitive base salary, non-contributory pension, discretionary bonus, insurances including health (family) and dental cover, and many other benefits to enhance financial, physical, social and psychological health.
About Canopius
Canopius is a global specialty lines (re)insurer. We are one of the leading insurers in the Lloyd’s of London insurance market with offices in the UK, US, Singapore, Australia and Bermuda.
At Canopius we foster a distinctive, positive culture which enables us to bring our whole selves to work to flourish as people, and build a business which delivers profitable, sustainable results.
Based in incredible new offices in the heart of the City of London, Canopius operates a flexible, hybrid working model and is committed to providing an environment that challenges employees to be their best and where everyone's unique contributions are recognised, valued and respected.
We are fully committed to equal employment opportunities for all applicants and providing employees with a work environment free of discrimination and harassment. All employment decisions are made regardless of age, sex, gender identity, ethnicity, disability, sexual orientation, socio-economic background, religion or beliefs, marital or caring status, or any other status protected by the laws or regulations in the locations where we operate. We encourage and welcome applicants from all diverse backgrounds.
We make reasonable adjustments throughout the recruitment process and during employment. Please let us know if you require any information in an alternate format or any other reasonable adjustments.
