Internal Audit Assistant

Prime Insurance Company Limited is inviting applications from suitably qualified candidates to fill the position of Internal Audit Assistant tenable at Head Office, Chief Kilupula Building, Lilongwe.

Job Purpose: Responsible for testing, examining and evaluating the effectiveness of internal controls of the company and reports on control breakdown for the attention of the supervisor. This include reviewing compliance of operations, policies and procedures in accordance with the annual audit work plan. These reviews will be conducted in compliance with the Internal Audit charter, Institute of Internal Auditors (IIA) code of ethics/standards and the company code of ethics which governs ethical standards for all Prime Insurance employees.

KEY RESPONSIBILITIES

1. Testing the effectiveness of internal controls systems, policies, rules and regulations of the Company to ensure that they are working effectively as designed by the process owners.
2. Identify Internal control weaknesses and areas of actual or potential noncompliance with regulator specific requirements and suggest procedural recommendations for improvement
3. Develop and document a complete and accurate record of audit working papers that adequately supports the audit Findings and conclusions made on the audit area reviewed.
4. Summarize Internal Audit Findings and assist to conduct audit wrap up conferences with process owners and agree the results in principle.
5. Assist to conduct follow-up audits to monitor management’s interventions on areas noted and ensure process owners have implemented their Management Action Plans
6. Assist the Internal Auditor to develop a risk based internal Audit plan as a result of a completed risk assessment carried out for the financial year under review
7. Assist in reviewing the integrity and reliability of financial and operational information through review of automated systems and enforcement of maintenance of complete and authentic documentation

PERSONAL ATTRIBUTES

• Have a good understanding of regulator of financial institution requirements and procedures
• Excellent oral and written communication skills
• A good understanding of Internal controls, continuous assessment and ability to introduce new ones
• Innovative ways of closing the loop on fraud and unethical dilemma

QUALIFICATIONS AND EXPERIENCE

• A Degree of Bachelor of Commence in Internal Auditing or Accountancy from a recognized institution of higher learning and accredited by the National council of higher education (NCHE) with 2 years’ audit work experience and understanding of the insurance industry and environment
• A good MSCE with credits in Mathematics and English
• Membership with the Institute of Internal Auditors is an asset or must be a member of ICAM in good standing

SUBMISSION AND APPLICATION

Applications must be accompanied by: –

• Detailed Curriculum letter
• Certified copies of academic qualifications
• Certified copy of National Identity Document/Passport
• Details of three traceable referees

Interested persons who meet the minimum requirements outlined above may forward applications in person, or through email to be received no later than close of business on 7th March, 2025

The Chief Executive Officer
Prime Insurance Company Limited
Chief Kilupula Building
P. O. Box 30280
Capital City
Lilongwe 3
Email: [email protected], [email protected]