Background

Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa. Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in East Africa, handling Life, Pensions, General and Medical Insurance. Today, Jubilee is the number one insurer in East Africa with over 450,000 clients. Jubilee Insurance has a network of offices in Kenya, Uganda, Tanzania, Burundi, and Mauritius. It is the only ISO certified insurance group listed on the three East Africa stock exchanges – The Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda Securities Exchange. Its regional offices are highly rated on leadership, quality and risk management and have been awarded an AA- in Kenya and Uganda, and an A+ in Tanzania. We currently have an exciting career opportunity for the role of Internal Audit Officer, Jubilee Life Insurance Company of Uganda Limited. The position holder will report to the Head of Internal Audit.

Role Purpose

An Internal Audit Officer plays a vital role in supporting the internal audit function. The primary purpose of this role is to assist the internal audit team in conducting audits, evaluating internal controls, and ensuring compliance with policies and regulations. The role holder provides valuable assistance in gathering data, conducting testing, and preparing audit documentation.

Main Responsibilities

Audit Support

• Assist in planning and executing audit engagements under the guidance of the Head, Internal Audit
• Participate in risk assessments and scoping exercises for assigned audits.

Data Collection and Analysis

• Gather and compile data relevant to the audit, including financial records, policies, and procedures.
• Perform preliminary analysis of data to identify trends or potential issues.

Testing and Documentation

• Conduct audit tests as directed by the Head, Internal Audit to evaluate the effectiveness of internal controls and compliance.
• Prepare workpapers and documentation that support audit findings.

Compliance Evaluation

• Review processes and transactions to ensure compliance with applicable laws, regulations, and internal policies.

Process Improvement Recommendations

• Assist in identifying areas for process improvement and operational efficiency enhancements.

Fraud Detection Support

• Collaborate with the audit team to identify potential signs of fraud and support fraud detection efforts.

Report Preparation

• Contribute to the preparation of clear and concise audit reports that outline findings and recommendations.

Stakeholder Collaboration

External Auditors:

• Work closely with external auditors by providing accurate records, supporting audit queries and ensuring transparency in financial and system processes. Facilitate smooth audits by ensuring proper documentation and strong internal controls are in place.

Regulatory Bodies:

• Engage with regulators such as the Insurance Regulatory Authority (IRA) to ensure the organization complies with all legal, reporting and data protection requirements. Support inspections, regulatory reporting and implementation of recommendations.

Industry Professionals/Associations:

• Collaborate with industry bodies to stay updated on best practices, emerging risks and compliance standards, ensuring the organization aligns with industry expectations and improves its control environment

Key Deliverables for the position

• Accurate and organized workpapers and documentation for audit engagements.
• Timely completion of assigned audit tasks to support the overall audit schedule.

Key Competencies and Skills

• Attention to detail
• Effective communication
• Analytical thinking
• Adaptability
• Team Player
• Time management

Academic Qualifications

• Bachelor’s Degree in Business Administration, Finance or any other related course
• CPA/ACCA Qualification
• Relevant audit related certifications will be an added advantage

Relevant Experience

• Minimum of 3-5 years of experience in audit function, preferably in the insurance, financial services or related industries in Uganda or East Africa.

• Assist in planning and executing audit engagements under the guidance of the Head, Internal Audit
• Participate in risk assessments and scoping exercises for assigned audits.
• Gather and compile data relevant to the audit, including financial records, policies, and procedures.
• Perform preliminary analysis of data to identify trends or potential issues.
• Conduct audit tests as directed by the Head, Internal Audit to evaluate the effectiveness of internal controls and compliance.
• Prepare workpapers and documentation that support audit findings.
• Review processes and transactions to ensure compliance with applicable laws, regulations, and internal policies.
• Assist in identifying areas for process improvement and operational efficiency enhancements.
• Collaborate with the audit team to identify potential signs of fraud and support fraud detection efforts.
• Contribute to the preparation of clear and concise audit reports that outline findings and recommendations.
• Work closely with external auditors by providing accurate records, supporting audit queries and ensuring transparency in financial and system processes. Facilitate smooth audits by ensuring proper documentation and strong internal controls are in place.
• Engage with regulators such as the Insurance Regulatory Authority (IRA) to ensure the organization complies with all legal, reporting and data protection requirements. Support inspections, regulatory reporting and implementation of recommendations.
• Collaborate with industry bodies to stay updated on best practices, emerging risks and compliance standards, ensuring the organization aligns with industry expectations and improves its control environment

• Attention to detail
• Effective communication
• Analytical thinking
• Adaptability
• Team Player
• Time management

• Bachelor’s Degree in Business Administration, Finance or any other related course
• CPA/ACCA Qualification
• Relevant audit related certifications will be an added advantage