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Extended Assurance - Insurance, Internal Audit - Senior - London

Location:  London
Other locations:  Primary Location Only
Salary: Competitive
Date:  May 15, 2024

Job description

Requisition ID:  1493769

Financial Services – Internal Audit – Internal Audit Senior Consultant, Insurance - London

EY’s Financial Services practice is currently undergoing exciting change. The business is rapidly growing and we are expanding our teams across the UK, in London, Edinburgh, Glasgow, Manchester, Leeds and Bristol. This growth offers great opportunities for learning and progression.
Our Insurance Internal Audit team works with leading insurers to provide internal audit services to assist management in protecting the asset, reputation and sustainability of the organisation.  This is done through combining internal audit skills with subject matter knowledge and bringing innovative delivery methodologies.  We are continually challenging the profession to do more and seeking to innovate internal audit.


What we are looking for:


We are looking for Internal Audit professionals, which are likely to be ACA, ACCA, CIMA, US CPA, CA, CFA or CIA qualified or part-qualified, who have a background in Insurance and Internal Audit. Candidates should have experience of working in internal audit or internal controls either as an internal auditor / advisor at a professional service firm and / or within an Internal Audit function within industry. We are looking for people with Insurance experience.


If successful, we will expect you to bring strong internal audit, risk and control experience, along with interpersonal skills, to build effective teams with both EY and client staff in fast moving and challenging environments


You’ll be responsible for end-to-end audit delivery, assessing a vast range of information and identifying key points that need to be raised to management.  You will be expected to build upon strong client networks and build a network within EY. We will expect you to support in writing Thought Leadership articles, people initiatives and in managing engagement economics.


Join us and you'll work on challenging projects and accelerate your career within an international and supportive team. You'll also be at the forefront of driving lasting change to the internal audit profession. 
Role Profile & Skills required:

  • Desire to build / develop a career in assisting Insurance clients with delivering internal audit reviews and associated services, including developing audit plans, preparing audit committee reporting and enhancing the overall control environment.
  • Technical skills including knowledge of risk management frameworks and control processes, including COSO plus a working knowledge of core business processes relating to HR, Finance and Compliance. Experience of key insurance areas (General Insurance, Life and Pensions all of relevance) of interest from front to back office, beneficial topics include (but not limited to);

                                - Underwriting strategy and operation

                                - IFRS 17

                                - Claims management

                                - GDPR

                                - Finance operations

                                - Solvency II

                                - Investment strategy

                                - Capital management

                                - Human Resources

                                - Regulatory Reporting

                                - Governance

                                - Reinsurance

                               - Sarbanes-Oxley

                               - Lloyds Minimum Standards

                               - Tax

  • Using pre-existing methodologies to deliver internal audit services, including qualitative and quantitative risk assessments, control testing and audit reporting.
  • Delivery of end-to-end delivery of internal audit reviews, including scoping, developing the audit approach and preparing and presenting audit reports.  Experience of evaluating controls in complex business processes.
  • Build constructive and supportive relationships with senior management, both at EY and clients.
  • Being receptive to coaching and feedback from peers and management.
  • Reviewing workpapers and deliverables prepared by junior staff and coaching for enhancement
  • Detail orientated with sufficient intellectual rigor and flexibility to manage complex information and identify key elements.
  • High level of drive, resilience and tenacity and ability to work under pressure. 
  • Strong business writing skills, including writing business development documentation, audit reports and internal memos
  • Develop a multi-disciplinary network across EY to bring insight and value to your clients.
  • Bring a detailed knowledge of the CIIA FS Code and its application


Desirable Experience: 

  • Degree level education ideally with an accounting or internal audit professional qualification.
  • Network in insurers with UK operations a benefit
  • Experience of coaching junior colleagues, eg. graduates a benefit
  • Experience in working in innovative and collaborative solution development a benefit
  • Experience of working with regulator mandated projects, such as s166 (or equivalent), either on behalf of the regulator or insurer a benefit.
  • Experience in delivering data analysis using entry level tools (Spotfire, Tableau or equivalent) in an internal audit or internal controls assessment environment.
  • Working on External Quality Assessments of Internal Audit functions
  • Knowledge of key audit technologies (e.g. TeamMate, Auto Audit etc)


Typical metrics:

  • Successful candidates would be expected to 90% utilised on chargeable engagements

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