presentation skills through exposure to Senior Management
This is a Deputy Manager - Principal Auditor level role (Actuarial - Finance Community) in the Internal Audit function for those with at 7-9 years (cleared 7-10 papers) who is a member of the Institute and Faculty of Actuaries (UK/ India) and experience in Actuarial process or risk and controls / internal / external audit. The role is intended to bring the role holder up to the level where they are able to work independently and have:
- Good understanding and knowledge of Actuarial modelling techniques, tools and procedures (including control frameworks for actuarial processes)
- Awareness of reporting and regulatory requirements relevant to Prudential Group (At least one of Solvency 2, Embedded Value, Modelling, Statutory and Realistic Reporting)
- a high level of understanding in the workings of Actuarial processes, risk and controls and/or an Internal / external Audit function;
- a good understanding of the behaviours required to succeed in a respectful workplace where teamwork is essential;
- an ability to quickly assess key operational processes and identify operational risks and controls, and deficiencies / inefficiencies inherent within them;
- an ability to plan and undertake complete audit assignments without supervision;
- an ability to effectively lead and oversee a team of staff with different skills / specialisms;
- an ability to articulate effectively both orally and in writing with minimal correction needed; and,
- confidence to challenge assumptions and articulate findings to senior stakeholders.
Primary Key Responsibilities (Top 3-5 KRA)
To work under the direct supervision and guidance of the Community Lead/ Head of Audit/ Senior Audit Manager and Audit Manager/ Field Manager to generally achieve the following mainly for M&G Plc IA function and for the wider M&G Global Services.
Planning and Risk Assessment
- Utilise both theoretical and practical experience concepts on Actuarial sciences in developing an understanding of the business processes and assist in the identification of risks.
- Attending and running meetings with auditees to develop an understanding of business processes.
- Coordinating the collation and review of information in the areas of the audit for which you are responsible to help identify key risks, controls, and scope areas.
- Preparing elements of the key planning documentation such as audit planning memorandum, risk and control matrix including testing strategies as directed and required in accordance with the requirements of the Internal Audit Standards Manual.
- Update TeamMate+ records of processes, activity and risk as directed / required
Audit Performance
- Travelling to different sites when necessary to meet relevant staff and review documents and information.
- Take responsibility for the design and performance of audit testing across different business/operational areas as directed / required.
- Producing and maintaining audit files and working papers to a consistently high standard in accordance with the requirements of the Internal Audit Standards Manual.
- Treating the personal data of our customers, employees and other individuals lawfully and in accordance with current Data Protection laws, and other related legislation.
Audit Reporting
- Discussing the results of audit testing and any resultant observations with stakeholders and/or the Field Manager on the audit assignment.
- Raising exceptions to inform observations and/or drafting observations to a very good standard in line with the requirements of the Internal Audit Standards Manual for inclusion in the draft report with minimal correction required.
- Proposing ratings for issues raised, and in some cases the overall report, in line with the requirements of the Internal Audit Standards Manual.
- Overseeing and reviewing the documentation of audit observations written by more junior team members.
- Where required; drafting other elements of final reporting such as summary and appendices to a good standard in line with the requirements of the Internal Audit Standards Manual such that minimal correction is needed.
- Performing issue assurance as directed and assisting with workflow process on MetricStream and TM+, and support coordination and monitoring of issue closure process.
Business Partnering
- Discussing the audit testing to be performed with affected stakeholders.
- Assisting / leading in the discussion of the results of audit testing with stakeholders to agree observations to be raised.
- Building relationships with stakeholders through acting with integrity, professionalism, and respect at all times to ensure that the Internal Audit function is seen in the correct light.
Team Management
- Where managing staff on assignments set clear objectives and expectations; and provide meaningful assignment appraisals to help develop more junior staff.
- Assisting and helping to train more junior members of the team in a constructive and productive manner.
- Providing constructive 360 feedback during audit and in post audit assignment debriefs and proactively seeking for feedback from colleagues in the function including from more junior colleagues.
- Develop a challenging but realistic personal development plan with your mentor manager.
- Developing good professional working relationships with colleagues behaving in a manner consistent with the Function s Ways of Working document.
- Support effective time management and capacity planning, ensuring utilisation rates as per designated grade are achieved and timesheets are completed on time.
Audit Community
- Actively participate in any Audit Community to which you belong.
- Proactively seek learning opportunities to develop knowledge and experience either through training or assignments.
- Contribute in team activities and treat colleagues with respect to contribute to a positive team environment.
- Comply with all mandatory conduct, training and disclosure requirements to help ensure that the Internal Audit function is not tarnished.
To succeed need to demonstrate the following qualities:
- be eager to learn, to take on new challenges, and to take ownership of your work;
- be able to build relationships to work collaboratively;
- be able to challenge, be challenged, and to value and respect the views of others;
- be willing to share your knowledge and ideas and ask for help when you need it;
- be able to lead and motivate others;
- be able to review and process information quickly; and,
- be able to communicate clearly to meet the needs of your audience
Additional Responsibilities :
- Lead M&G Global Services IA initiatives which will drive the M&G Global Services IA and wider M&G plc IA function
- Support in one of the M&G Global Services Cross functional initiatives
M&G plc IA
M&G Global Services IA
Business areas across the globe
Statutory Auditors and Business partners
Knowledge, Skills, Experience & Educational Qualification
Knowledge & Skills (Must Have):
- At least 7 to 9 years of relevant actuarial work experience based on Life, General, Pensions or Health and should have cleared between 7 to 10 Actuarial papers
- Should have worked on a variety of actuarial processes during the work tenure (for e.g. Pricing, valuation, product support, etc.)
- Good understanding and knowledge of Actuarial modelling techniques, tools and procedures (including control frameworks for actuarial processes)
- Awareness of reporting and regulatory requirements relevant to Prudential Group (At least one of Solvency 2, Embedded Value, Statutory and Realistic Reporting) and ability to interpret simple and complex actuarial formulae
- Ideally 7-9 years of hands-on technical work experience in financial services or internal / external audit
- Experience within the Financial Services Industry, with a focus on either insurance or investment management.
- Experience of working in an Audit environment or Internal Audit teams would be ideal.
- Experience within the Financial Services Industry, with a focus on either insurance or investment management.
- Experience of working in an different Technology or Audit environment or Internal Audit teams would be ideal.
- Design and define metrics for service/business performance measurements.
- Ability to work effectively across a large team, understanding the team s role in the overall strategy of the Company.
- Desirable to have a good knowledge of the principles of auditing and their application to the business within a risk based audit methodology. Good working knowledge of any internal control framework.
Behavioural Skills
- Strong organisational skills to take ownership of agreed targets to enable efficient completion of audit projects
- An innovative mind-set and the ability to develop ideas which are implemented and have a positive impact
- Written and verbal communication skills a must; strong interpersonal skills essential. Job requires frequent interaction with senior management
- Must be able to multitask while managing both time and work load.
- Must be highly motivated with strong analytical skills, willing and able to learn new business and system processes quickly
- Strong stakeholder management experience and ability to handle challenging discussions professionally.
Knowledge & Skills (Additional):
- Must be highly motivated with strong analytical skills, willing and able to learn new business and system processes quickly
- Good stakeholder management experience and ability to handle challenging discussions professionally
Experience:
- actuarial work experience based on Life, General, Pensions or Health.
- A strong working knowledge of Actuarial environment.
- Required to have a decent knowledge of the principles of auditing and their application to the business within a risk based audit methodology. Good working knowledge of any internal control framework.
Educational Qualification:
- Should have cleared between 7 to 10 Actuarial papers and/or relevant professional qualification and/or relevant consulting or industry expertise.
- Experience of risk based auditing and clearly understanding the relationship between business risk and underlying IT risk.
- Prior audit experience in functional domains such as financial crime, anti-money laundering, investment management processes, compliance monitoring and program assurance is desirable.
- Financial Services/ product knowledge, particularly within Insurance, Asset Management (e.g. Equities and Fixed Income) or Investment banking.
- Practical and theoretical knowledge of business risk and control frameworks specifically with regards to Investments and Insurance business.
- Good knowledge of COSO / Internal Controls Framework s
- Ability to work effectively across a large audit team, understanding the team s role in the overall strategy of the firm.
- Good knowledge of the principles of auditing and their application to the business within a risk based audit methodology.
Behavioural Skills
- Strong organisational skills to take ownership of agreed targets to enable efficient completion of audit projects.
- An innovative mind-set and the ability to develop ideas which are implemented and have a positive impact.
- Able to demonstrate integrity and team spirit by exhibiting ethical behaviour in executing the job responsibilities.
- Strong stakeholder management experience and ability to handle challenging discussions professionally.
- Ability to manage and develop team members. Line management responsibility is desirable.
- Motivate team members to deliver the objectives within timelines.
- Strong written and verbal communication skills a must; strong interpersonal skills essential.
- Must be able to multitask while managing both time and work load.
- Must be highly motivated with strong analytical skills, willing and able to learn new business and system processes quickly.
