The African Reinsurance Corporation (Africa Re) is the leading Pan-African reinsurance company and the largest re-insurer in Africa with the Financial Strength and Credit Rating of Africa Re is “A” by A.M. Best and “A – “by Standard & Poor’s.
Headquartered in Lagos (Nigeria) since its inception in 1976, Africa Re operates through
a) Six (6) Regional Offices across Africa: Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Port Louis (Mauritius),
b) One (1) Contact Office in Addis Ababa (Ethiopia),
c) Three (3) Subsidiary Companies (Africa Re South Africa Limited in Johannesburg, South Africa), Africa Retakaful Company Ltd. in Cairo (Egypt) and Africa Re Underwriting Agency in Dubai (UAE).
Africa Re has a broad-based shareholding of;
• 42 African member States,
• the African Development Bank,
• 113 African insurance and reinsurance companies, and
• three (3) non regional shareholders, including leading global insurers, reinsurers and international finance institutions.
Africa-Re hereby announces the vacancy for the position of Internal Audit Officer/Business Support at her Head office based in Lagos, Nigeria in the Support Staff category.
Reporting to the Director of Internal Audit, the successful candidate will support the Internal Audit team in conducting audits, preparing comprehensive audit reports, and ensuring the timely and accurate completion of all audit-related documentation. This role will assist the audit team in evaluating the effectiveness of internal controls, risk management practices, and governance processes, thereby contributing to the enhancement of the Corporation’s overall operational efficiency as mandated by the Audit Committee of the Board of Directors.
This role also includes managing administrative tasks for the department, organizing and coordinating meetings, and handling ad hoc requests.
The incumbent will carry out the following functions:
1. Technical Duties
• Support in the review of all business units (regions, subsidiaries) and central departments.
• Participate in the assessment of process owners’ compliance with the Corporation’s policies and procedures.
• Support in the review of the adequacy of existing policies and procedures, identify gaps and recommend improvements based on best practices.
• Discuss audit findings and related action plans with the process owners.
• Assist in the preparation of audit reports to Executive Management and the Board of Directors.
• Follow-up with the process owners on the implementation of recommendations and agreed action plans.
• Support in carrying out special reviews/investigations upon request by management.
• Support the team in working with other internal and external assurance providers.
• Gaining a deep understanding of the Corporation and Contribute to the continued development of the audit function.
• Any other duties that may be assigned.
2. Administrative Duties
• Prepare minutes of meetings held in the department – weekly and ad hoc.
• Prepare minutes of entrance and exit meetings for all audit projects.
• Maintain virtual and physical records of the department.
• Liaise with staff and clients to provide administrative support on:
• Maintaining adequate records of the Internal Audit subscriptions.
• Ensuring annual and periodic invoices from all Internal Audit service providers are received on time and follow up with relevant stakeholders on processing and payment of invoices.
• Planning, organizing and managing events and meetings of the department.
• Any other duty that may be assigned by the DIA from time to time.
The successful candidate shall be based in Lagos (Nigeria).
• Good theoretical and practical knowledge of the internal audit standards, insurance and reinsurance business.
• Good theoretical and practical knowledge of reinsurance technical accounting.
• Ability to carry out audit reviews with minimum supervision and deliver quality audit reports.
• Basic knowledge and understanding of reinsurance applications and Oracle ERP will be an added value.
• Confidentiality, unquestionable integrity and proven sense of responsibility.
• Knowledge of Microsoft Office (Word, Excel and PowerPoint), SharePoint, and Teams.
• Knowledge and practical experience on data analytics applications and audit software like TeamMate+ will be an advantage.
• Ability to work smartly with minimal supervision
• Ability to deliver within established timeframes.
• Ability to multitask and manage change.
• Excellent problem-solving skills (i.e., conceptual, and analytical thinking).
• Outstanding interpersonal and communication skills; ability to communicate effectively with technical and non-technical audiences.
• Good team player with proven managerial experience.
• Ability to establish and maintain effective working relationships in a multicultural, multi-ethnic environment.
• Bachelor’s Degree in accounting, business administration, insurance, or equivalent.
• Minimum of 3 Years of relevant work experience in internal audit/control in the insurance and/or reinsurance industry. Experience in an audit firm will be an added advantage.
• Additional professional qualifications/certifications in Audit and Accounting (CIA, CPA, ACCA, ICAN, ACA, etc.) and working knowledge in the French language will be an added advantage.
The successful candidate shall have the following benefits:
• Competitive Basic Salary on the Corporation’s Support Staff Grade Level.
• Variable Pay (Annual Performance Bonus).
• Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the Employer).
• Children Education Subsidy for each child up to 26 years (maximum 4 children).
• Medical Cover for staff and family.
• Housing Allowance.
• Inflation Adjustment (Cost of Living Allowance), that may increase or decrease depending on the economic situation, paid in local currency.
Applicants must also be:
a) Fluent in English
b) Working knowledge in French shall be an added advantage.
Interested candidates are requested to visit the Africa-Re website at https://www.africa-re.com/career to complete the online employment form.
Africa-Re is an equal-opportunity employer and offers a good working environment commensurate with international organizations.
The Corporation reserves the right to appoint at the advertised grade level or at any other level that may suit the profile, qualifications, and experience of the successful candidate.
The deadline for submission of interested candidates’ applications shall be 28 September 2024
