Internal Audit ManagerFWD Life Insurance Corporation

About FWD Life Insurance Corporation
FWD Life Insurance Corporation (FWD Insurance) is part of pan-Asian FWD Group. FWD Insurance launched its commercial operations in September 2014. As of end-2019, FWD Insurance ranks 1st in Customer Experience in the Philippines(1). FWD Insurance maintains its strong financial position as top 3 and 8 in terms of Paid-up Capital(2) and New Business Annual Premium Equivalent(3), respectively.
FWD Group spans Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan, and Malaysia, offering life and medical insurance, general insurance, employee benefits, Shariah, and Family Takaful products across a number of its markets. Established in Asia in 2013, FWD is the insurance business of investment group, Pacific Century Group. In the Philippines, FWD has 17 business hubs located in key cities nationwide, with its headquarters in Bonifacio Global City in Taguig.
FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD aims to become a leading pan-Asian insurer that changes the way people feel about insurance.
For more information, please visit .
1 Based on a commissioned Customer Experience Index 2019, conducted by Forrester Consulting
2 Statistics Life 2019 Based on Paid-Up Capital
3 Statistics Life 2019 Based on New Business Annual Premium Equivalent
POSITION OVERVIEW:
The Internal Audit Manager adds value and improves internal audit function by bringing innovative thinking and disciplines approach to the effectiveness of risk management, control and governance process. He/she performs the full audit cycle to ensure the effectiveness and efficient audit activities and compliance with local regulations and company policies.
KEY RESPONSIBILITIES:
Provides independent and objective assurance/consulting activity to add value and improve the organization's operations.
Perform full audit cycle and present findings and areas for improvement to Management, including SMT.
Discuss/agree with management on audit actions to be implemented ensuring that risks are managed.
Prepare audit reports based on the results of audit work.
Assist in the planning, coordination, and management of Audit Committee Meetings.
Assist in the preparation of Internal Audit updates to the Audit Committee.
Be an agent for change by delivering quality audit reports with practical, effective and actionable recommendations.
Become the trusted advisor to management for risk and control matters, while maintaining independence.
Continuously develop knowledge regarding regulatory requirements, emerging risks and best practices.
Be an ambassador of the Internal Audit Department, Senior Management, and FWD values.
Conduct/monitor follow-up reviews/procedures to ensure that actions agreed by management is implemented timely and effectively address the risks.
REQUIRED KNOWLEDGE AND SKILLS:
Degree level education required.
Certified Public Accountant (CPA) and/or Certified Internal Auditor (CIA). Additional certifications such as Certified Information Systems Auditor (CISA) an advantage.
With at least 5 years of audit experience preferably gained from big auditing firms.
Must have internal audit experience, or equivalent and with knowledge in auditing business processes and Information Technology, that is application controls and Information Technology General Controls.
Experience in business process review/improvement and project management.
Strong knowledge and understanding of risk management practices, audit standards and procedures.
With work experience in Insurance Business/Industry including regulations and best practices.
With working knowledge/experience in data analytics and use of data analytics tools.
Detail-oriented and have good analytical skills.
TECHNICAL SKILLS/COMPETENCIES:
Has wide experience of suitable controls to manage a variety of risks. Advances the organization's awareness of financial controls.
Is able to coordinate and facilitate risk assessment exercises.
Reviews the methodology to maintain the quality of Internal Audit outputs. Actively follows and champions the methodology with limited guidance.
Provides input into the development and implementation of IT Best Practices. Can provide recommendations to improve the ability of core IT processes and resources to deliver effective and efficient business solutions.
Evaluates and communicates any known or potential weakness in company financial and accounting policies, systems, tools, processes, and controls uncovered during audits.
Is able to come to agreement on the audit objectives and approach with the audit client. Is able to undertake a quality review of the audit evidence to ensure it supports the audit findings. Demonstrates consistent high quality audit delivery and the ability to lead complex audit engagements. Leads a portfolio of audits and promotes different audit techniques to maximize effectiveness of the audit process.
Alerts audit team members to areas of field work where consultation with experts in external functional areas would be advisable.
Capable of conducting a fraud audit with guidance from manager. Effectively evaluates and tests the design and operating effectiveness of antifraud programs and controls.
Demonstrates an understanding of the company's financial business requirements and regulatory practices (e.g., GAAP, SEC, taxes, etc.). utilizes internal and external experts as appropriate.
Demonstrates awareness of the company's key competitors and relevant industry risk areas.
Can express requirements to a data warehouse expert for data extraction, transformation, and loading techniques.
Can pinpoint systemic causes of operations problems, and can associate the causes with the business processes that have generated and permitted the problems.
Identifies and recommends best practice solutions to business processes that require improvement.
Can determine when it is appropriate to implement CAATs and describe the benefits to management.
Is able to incorporate the conclusions of individual audits, according to their significance and materiality, into an evidenced and sustainable opinion on the whole system of risk, control and governance.
Is able to question or clarify when necessary. Structures questions well to obtain key information. Is able to adapt communication style to suit the needs of different audiences. Uses analogies, visuals etc. to effectively communicate complex ideas.
Spots potential conflict, brings disagreements into the open and helps deescalate. Is able to negotiate with management to ensure audit recommendations are agreed and acted upon.
Balances diplomacy with assertiveness. Influences the business to change their ways of working.
Demonstrates networking skills and the ability to develop and sustain effective working relationships with a wide range of stakeholders at a senior level. Seeks opportunities for contact that build relationships.
Promotes a professional, safe, and cooperative climate.
Able to spot approaching problems, redirect/reallocate resources accordingly. Helps identify solutions to staff and budget resource difficulties.
Is a source of advice for team members - serves and excels as a formal peer coach. Gains their respect, is approachable and accessible to them.
Anticipates and acts on emerging customer needs, data and feedback to identify customer values and to create the desired customer experience.
Can articulate what the plans are for own role, function and broader FWD strategy and how they link to the company vision.
Encourages safe, open and honest debate about the team's performance and builds aligned development plans. Rewards successful team performance publicly - celebrates success.
Uses decision criteria that take into account relevant strategic and tactical goals. Considers short and longer term consequences of issues.
Undertakes analysis of market data and applies relevant market segments and directions for the business with trends in mind.
Implements the Functions strategy and can articulate the link between corporate strategy and functional strategy.
Promotes cultural standards and procedures. Is active in supporting others and thinks beyond own role and function for the broader business.
Sets own and team KPI's and strives to exceed them. Supports the team and clears barriers to achieving team KPI's. Uses financial or other data to track progress.
Privacy Notice
Your privacy is a priority for FWD. The Company keeps your personal information with us in confidence. To know more about how we process your information, kindly refer to our FWD Recruitment Privacy Notice.
FWD has partnered with Talocity Instasolutions Private Limited ('Talocity') to manage the initial filtering of candidate's profiles through video interviews, social profile mapping, and video analytics using artificial intelligence engine that is offered within the Talocity platform. The platform evaluates the candidate on the five well-known dimensions as per OCEAN Personality Model that influence occupational success and help understand workplace behavior. For more information, please refer to .
When you apply, FWD will share your name, phone number and email address to Talocity to contact you and conduct the initial screening and profiling process. Shortlisted candidates will then be contacted by FWD for the face-to-face interview.