We’re First Central Insurance & Technology Group (First Central for short), an award-winning innovative insurance and technology organisation, delivering market-leading motor insurance, underwriting, distribution, finance, technology and legal services.
We work and play hard. We mix a fast pace with fun. We get things done. Join us as Head of Internal Audit and fly ... This is a great opportunity to join us at either our Haywards Heath, West Sussex or Salford Quays, Manchester office. Working on a hybrid basis, you'll spend the majority of your time working from home with a weekly visit to the office, of course its your choice, like to be in the office more, that's good with us too!
Providing strategic functional leadership and accountability for an independent third line of defence Internal Audit Function, you'll deliver objective assurance, advice and insight along with leading on the design, implementation and oversight of the internal audit framework used throughout the First Central Group. You'll ensure the key risks to the Group’s plan are identified, audited and reported across the Group of companies in accordance with the Group Internal Audit Policy.
You'll be a key member of the broader Governance leadership team and will need to create an environment of collaboration, agility, innovation, and ownership.
To be successful in this role, you’ll need to:
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be a member of the Chartered Institute of Internal Auditors (IIA) or holding a CCAB qualification (e.g. ICAEW)
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have excellent understanding of FCA rules, regulations, principles and codes of practice
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have direct experience with the development, production, or review of the ORSA or FLAOR, or other solvency process management
Job Responsibilities:
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Sets and continuously reviews the strategy and associated policies/processes of the Internal Audit function to enhance its way of working and thereby deliver robust assurance, added value and support effective management of risk.
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Define and manage the Internal Audit budget and take proactive action as necessary to ensure expenditure is in line with available resources, while fulfilling the functions mandate and securing value for money.
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Define, following stakeholder engagement, and gain approval from the Audit Committees for the Internal Audit Plan, and rolling 3-year Internal Audit Plan
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Continuously improve the approach for creating the Internal Audit Plan to ensure key inputs and advanced techniques are considered and incorporated to propose a relevant and value-adding programme of audit work, some of which will be highly complex.
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Accountable for the development and regular review of the Internal Audit Plan annually in consultation with the relevant Group Audit Committees and overseeing the delivery of the plan in a timely manner and compliant with the Internal Audit Policy, managing conflicting priorities and taking remediating actions as necessary.
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Lead a high-performing team to deliver the function’s objectives and Internal Audit Plan.
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Identify and effectively manage the 3rd party internal audit provider/s, provide direction to their teams to ensure audit work is focussed on key risk areas, reviewing their performance and audit output and where necessary take remediating actions.
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Identify, engage, and maintain strong relationships with relevant internal (e.g. Executive Management and Board Members) and external (e.g. Gibraltar Financial Services Commission) stakeholders and decision makers to incorporate insights, influence on matters which may be critical in nature and to support delivery of effective audit work.
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Prepare, review and present clear and insightful messages on the status and findings arising out of internal audit activities to the Executive Committee, other forums and the Audit Committees.
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Lead the provision of ad-hoc non-audit activities where appropriate e.g. learning reviews and advisory activities and represent the Internal Audit Function working collaboratively with Compliance, Risk, Legal and HR where relevant in support of special investigations (i.e. Whistleblowing) as appropriate.
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Create and embed a partnership approach with the bank to internal audit activities through regular engagement activities to enhance the profile of the function across the Group.
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Liaison with Group companies’ Compliance Officers, Risk Management and External Auditors as appropriate.
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Any other reasonable duties as required.
Job Specific Competencies:
Experience
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A member of the Chartered Institute of Internal Auditors (IIA) or holding a CCAB qualification (e.g. ICAEW)
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Significant experience leading an Internal Audit function or overseeing the delivery of an internal audit plan comprising a broad array of complex audit areas.
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Direct experience in the Solvency processes for insurance
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Strong project management experience.
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Experienced in building relationships with senior management.
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Influencing and networking with senior people to achieve consensus and collaboration.
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Evidence of proven career track record and consistent record of achievement.
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Direct experience with the development, production, or review of the ORSA or FLAOR, or other solvency process management
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Educated to degree level
Skills
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Specialist technical knowledge of risk management techniques.
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Specialist technical knowledge of Internal Audit Best practice
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Aptitude to strategic thinking and operational implementation
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Personal impact in business and technical discussions at all levels.
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Resilient to challenge from senior levels whilst building and maintaining relationships.
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Specialist, current and in depth technical knowledge of at least one specific area relevant to the business.
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Broad commercial and strategic awareness.
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Sound, high level planning skills.
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Extremely strong negotiation and conflict management.
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Appreciates and is sensitive to cultural diversity.
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IT literate.
Knowledge
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Excellent understanding of FCA rules, regulations, principles and codes of practice
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Expert knowledge of Solvency II requirements
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Up-to-date knowledge of trends in the insurance industry relevant to Risk Management and Corporate Governance requirements.
Behaviours
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Develops and utilises a network of senior contacts, providing advice on risk across the organisation.
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Effective at influencing own manager, colleagues and business executives.
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Able to deal with any business concerns or relationship issues.
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Regularly strives to exceed objectives.
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Demonstrates persistence, resilience and tolerance for stress in the face of obstacles.
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Demonstrates regular and effective use of subject matter knowledge, both as a user and as a provider.
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Seeks to challenge and improve current processes and approaches.
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Performs a number of assignments at one time, managing own time and other resources effectively and efficiently.
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Demonstrates the courage to take decisions up to the maximum level of their authority, balancing short and long term needs.
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Logical and systematic approach to analysis of symptoms and causes, identifying key issues, underlying trends and interrelationships.
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Able to understand and resolve the most technically complex issues within areas under review.
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Demonstrates in-depth understanding of the key factors influencing the business, internally and externally.
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Has a good understanding of the UK business drivers and strategy.
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Has the capacity to think across a range of business functions and systems.
Are you the person we’re looking for? If so, we look forward to hearing from you. Apply today!
What can we do for you?
We believe we can offer you a great working environment as we’re so passionate about our people. Here are just some of the benefits and perks that we offer…
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Fantastic training and development opportunities
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Employee benefit packages to suit your lifestyle
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Flexible working
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YOUday – we give you an extra day off to celebrate a special day
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The opportunity to take a paid day off each year to do charity work
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A health cash plan
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Help with travel expenses
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The opportunity to buy additional holiday
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Company pension scheme
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Group life assurance
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Enhanced maternity and paternity pay
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Professional subscription fees paid
Employee wellbeing is high on the agenda here too. We provide discounted membership at a local health club and access to an Employee Assistance Programme, which promotes physical and emotional wellbeing at work and at home. In addition, we provide wellbeing events throughout the year to support physical and mental health.
For further information on what we can offer and to learn more about this role, feel free to contact our dedicated Talent team.