INTERNAL AUDIT OFFICER (GENERAL INSURANCE) AT SANLAM LIFE INSURANCE NIGERIA LIMITED | INTERNAL AUDIT JOBS IN LAGOS

About Company:

Sanlam Life Insurance Nigeria Limited is a limited liability company licensed to transact life insurance business in Nigeria. Its subsidiary, Sanlam General Insurance Nigeria Limited, is licensed to transact general insurance business in Nigeria. We provide cover for both individuals and corporate organisations, enriching lives by offering a wide range of insurance plans that cover various needs of life.

Job Description:

We are seeking a meticulous and highly disciplined Internal Audit Officer specializing in General Insurance. In this role, you will be responsible for evaluating the effectiveness of our internal controls, risk management processes, and governance frameworks. You will bridge the gap between technical insurance operations and financial compliance, ensuring that all underwriting, claims, and administrative processes adhere to both internal policies and external regulatory mandates.

The ideal candidate possesses a deep understanding of core insurance operations and the analytical rigor to identify systemic risks within a fast-paced financial environment.

Requirements:

Audit Execution & Risk Assessment

• Financial & Operational Audits: Conduct comprehensive audits of general insurance operations, including Underwriting, Claims Management, Reinsurance, and Broker relations.

• Internal Controls: Evaluate the adequacy and effectiveness of internal control systems to prevent fraud, errors, and operational leakages.

• Risk Identification: Identify key operational and financial risks, providing actionable recommendations to strengthen the company’s risk posture.

Compliance & Regulatory Oversight

• Policy Adherence: Ensure all departmental activities comply with established Standard Operating Procedures (SOPs) and corporate governance standards.

• Regulatory Reporting: Monitor compliance with NAICOM guidelines and other relevant financial regulations governing the Nigerian insurance industry.

• Drafting Reports: Prepare detailed audit reports for management, highlighting findings, implications, and time-bound corrective actions.

Process Optimization & Monitoring

• Follow-up Audits: Monitor the implementation of audit recommendations to ensure that identified weaknesses are effectively addressed.

• Special Investigations: Conduct ad-hoc investigations or forensic audits as required by management or the Board Audit Committee.

• Process Improvement: Collaborate with department heads to streamline core insurance workflows and enhance overall operational efficiency.

Qualifications and Skills:

Education & Experience

• Degree: Bachelor’s Degree or HND, preferably in a numerate field (Accounting, Finance, Economics, or Mathematics).

• Experience: 5–7 years of experience in internal/external audit or core insurance operations.

• Domain Knowledge: A strong understanding of the "General Insurance" business model and its specific risk areas is essential.

Technical & Professional Skills

• Certification: Professional certification in ICAN, ACCA, CIA (Certified Internal Auditor), or CMA is a significant advantage.

• Analytical Thinking: Exceptional ability to interpret complex financial data and identify discrepancies.

• Communication: Clear verbal and written communication skills, with the ability to present sensitive findings professionally.

Core Competencies

• Integrity: Unwavering commitment to ethics, confidentiality, and professional independence.

• Attention to Detail: Meticulous in reviewing documentation and verifying the accuracy of insurance records.

• Problem-Solving: Proactive in recommending practical solutions to complex control issues.

Salary

Application Closing Date: Not specified