Head of Internal Audit - Asset Management and Wealth

Canada Life Limited
Potters Bar, United Kingdom
02 Feb 2023
03 Feb 2023
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.

Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.

Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.

A member of the Internal Audit leadership team, the Head of Internal Audit - AMW is responsible for collaborating with and managing the expectations of the Executive and Senior Leadership teams to develop and oversee the delivery of independent assurance across the Asset Management and Wealth (AMW) businesses within the UK business

What you'll do:
  • Partners with key business and functional executives and non-executives, identify and understand the company's risk-based assurance priorities in the context of the AMW businesses' strategies, risk appetite and risk profile. Ensures this intelligence is used and leveraged on a continuous basis in the development and proposal of comprehensive and proportionate independent assurance plans to the respective board audit committees.
  • Oversees the execution of comprehensive and proportionate assurance plans across the AMW businesses. In doing so, this will require liaison with the Operations, IS and Actuarial Internal Audit teams, third party consultants and Communities of Practice to ensure the assurance activities are positioned well with all stakeholders, performed in the right context and take place at the right time. Will perform the Engagement Supervisor role on the more complex, higher visibility or strategic engagements.
  • Oversees the consistent and rigorous application of the Global Internal Audit Methodology in the performance of all assurance activities (including internal audits, advisory reviews, findings tracking and ICOFR controls testing) across the AMW businesses. In discharging these responsibilities, provides guidance, consultative support and a point of escalation for engagements, findings follow-up and closure.
  • Uses the range of independent assurance techniques/outputs and business intelligence available, develop evidence-based opinions in relation to the AMW businesses' governance, risk management and control environment. As part of this work, forms an independent opinion on the current and forward-looking risk profiles relative to that reported by the 1st and 2nd lines of defence) and ensure they are articulated and presented to executives and non-executives in a balanced, fair and constructive manner.
  • Produces independent opinion-based reports, presentations and updates for the Board and Senior Management on the organisation's governance, risk management and control environment in the context of the AMW businesses' current and forward-looking risk profile. Such reporting should also draw out risk-based themes and insights, material findings and the management team's progress to address Internal Audit findings in a proportionate manner.
  • Understands, keeps up-to-date with and pragmatically applies industry- and professionally-recognised benchmarks (e.g. the 'Financial Services Code for Internal Auditors') to inform independent assurance activities and the continuous improvement of the Internal Audit function and wider Canada Life business. In doing so, demonstrates innovative thinking, the sharing of knowledge and strong communication/influencing skills to support the delivery of optimal solutions and outcomes for the Canada Life business. And will support the development and delivery of Internal Audit's strategic roadmap and initiatives to achieve its goals and objectives.
  • Co-develops, reviews and monitors KPIs related to Internal Audit's goals, strategic objectives and initiatives (on an BAU and developmental basis). Where appropriate, identifies and removes roadblocks. In this position, the role holder takes the pulse of stakeholder/client sentiment and satisfaction and, where proportionate, addresses any concerns.
  • Co-leads, motivates and develops a small team of internal auditors in a manner which is aligned with the company's purpose, strategy and risk profile and the CIA's functional and assurance strategy - this includes collaboration with global audit teams.
What you'll bring to the role:
  • Excellent stakeholder management and influencing skills at Board and Executive Committee level.
  • Excellent analytical and problem-solving skills
  • Excellent facilitation and presentation skills
  • Excellent planning and organisational skills
  • Excellent Interpersonal skills - able to work and communicate effectively at all levels across the organisation
  • High levels of self-awareness and an ability adapt behaviour and communication style to their environment and audience=
  • Excellent active listening skills
  • Excellent written and verbal communication skills
  • Comfortable and skilled in the receipt and delivery of constructive feedback from/to stakeholders within/outside of the Internal Audit team
  • Strong coaching skills, with a track record for develop team members
  • Strong understanding of corporate governance standards and an ability to apply them in a proportionate and pragmatic manner - especially in the enterprise-wide risk management arena.
  • Previous experience in a senior 2nd or 3rd line role in a financial services company is essential
  • Excellent educational background - degree qualified or equivalent - business studies or similar discipline.
  • Holds a relevant professional qualification - for example, CIIA, FCCA, FCA and other qualifications relevant to the role (e.g. IMC or CFA).
What you'll like about working here
As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including income protection, private medical insurance and life assurance, along with a generous pension and bonus scheme. You'll also receive the support you need with your personal and professional development.

Diversity and inclusion
Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences
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