Senior Internal Auditor

As part of the North America Audit Hub (NAAH) you provide audit services to Munich Re’s North America entities to assist Senior Management in the achievement of the Company’s strategic objectives.We are open to this position being located in Hartford, CT; Princeton, NJ; and Amelia, Ohio.

Hybrid work structure with two days in the office.

Company

Munich Re America Services

Location

Cincinnati , United States

Be a part of a dynamic, global team! As part of the North America Audit Hub, you provide audit services to Munich Re’s North America entities to assist senior management in the achievement of the Company’s strategic objectives. As a trusted advisor, the Internal Auditor builds effective relationships while providing independent value-added Internal Audit services necessary to provide reasonable assurance regarding the effectiveness of governance, compliance, risk management, and internal controls systems. The Internal Auditor participates as a lead staff on engagement teams that conduct independent assessments of Munich Re’s internal control environment through the execution of risk analysis, control evaluation, and audit testing procedures and techniques.

Individuals in the Internal Auditor role participate in the execution of audit engagements from audit planning activities through completion of the engagement. Depending on experience, individuals in the Internal Auditor role demonstrate the ability to independently apply audit methodology to all phases of the audit life cycle from planning to reporting, including understanding business operations, scoping the audit, identifying risks and controls, designing and executing testing with minimal oversight, and assisting with the writing of audit reports. 

Major Accountabilities:

• Contributes to, or depending on experience independently conducts, thorough risk analysis, control identification, and audit program development. Independently concludes on the effectiveness of controls. Identifies control gaps and exceptions from expected control activities and independently evaluates the potential impact. Demonstrates the ability to multi-task, by clearly documenting the results of work on more than one audit concurrently.
• Executes and completes assigned audit work in accordance with agreed upon milestones and dates.
• Demonstrates technical knowledge of routine business processes and continues development of technical and analytical skills to understand more complex business processes. Independently or with guidance from project lead interprets the associated risks, develops testing approaches, and proposes solutions.
• Effectively communicates control weaknesses and control gaps to operational management. Makes sound recommendations for audit finding rankings and effectively supports conclusions during discussions with audit clients.
• Contributes to continuous improvement (CI) efforts. Participates in efforts to solve problems and make audit processes more effective and efficient. 
• Demonstrates an understanding of data analysis concepts and procedures. Effectively conducts data analysis to facilitate audit scoping and testing.
• Aware of changes in Internal Audit practices, regulatory requirements, and risk frameworks to understand their impact to Internal Audit and Munich Re. (e.g. COSO, IFRS, GAAP).

Qualifications :

• In-depth knowledge of internal audit practices, with a focus on P&C insurance and reinsurance industry operations, and the ability to evaluate internal controls as typically acquired through 5 plus years of audit or relevant business experience.
• A candidate with advanced / expert knowledge of insurance industry operations including primary and reinsurance from 5 plus years working in a core insurance function (Underwriting, Claims, Risk Management etc.) with a strong understanding of internal controls is highly preferred.
• Willingness to learn and previous understanding of insurance functions platforms and related systems.
• Bachelor’s Degree (Accounting, Finance, Actuarial Science, Data Science or other business-related degree). Master’s Degree a plus.
• CIA or CPA or similar designation is preferred for those with an auditing background. The completion of other insurance or professional related certifications (CPCU, ARe) is a plus.
• Demonstrated ability to influence others and strategic negotiation skills, including Senior Management, as well as strong written and verbal communication skills required. Must have effective analytical, problem solving, and research skills.
• Familiarity with data analysis tools, such as ACL (Audit Command Language), is a plus. Experience with data gathering, financial analytics, and trend identification, preferred.
• Domestic travel expected.

At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services. 

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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