ARM Life is the insurance subsidiary of Asset & Resource Management Company Ltd (ARM). Its parent company, ARM is one of the largest non-bank financial services firms in Nigeria with a focus on asset management. Established in 1994, ARM started operations as a traditional asset management company specialising in the management of quoted equities and fixed income securities.
We are recruiting to fill the position below:
Job Title: Audit and Risk Analyst
Location: Ikoyi, Lagos
- Develop annual audit plan for the subsidiaries and submit to the Audit, Risk and Compliance Committee for review and approval.
- Execute country audits to assess controls, operational efficiencies and compliance with selected policies, procedures and regulations. Resolve audit problems that occur and develop modifications to coverage and schedule.
- Perform special analyses and reviews, including compliance, instances of alleged fraud and unethical misconduct.
- Review and report on the accuracy, timeliness and relevance of the financial and other information that is provided for Board and Management.
- Refer major audit issues to Head of Audit & Risk for resolution.
- Research and keep abreast of country legislative issues, new audit regulations/trends and audit methodology. Discuss updates of new regulations with Head of Audit & Risk and relevant country departments.
- Conduct periodic training workshops for in-country staff to promote awareness of governance, risk management, and internal controls.
- Ensure work papers are adequately documented and audit evidence is sufficient.
- Prepare accurate audit reports across country offices for the Audit, Risk and Compliance Committee.
- Elicit information from knowledgeable internal/external sources about areas and functions to determine appropriate audit direction/methodology for the business units within the country office.
- Assist external auditors as appropriate. Coordinating country office’s response to audit findings and recommendations.
- Develop and implement fraud and unethical behaviour prevention programs driven by risk based support.
- Update risks during operations as well as mitigation plans
- Implement risk mitigation plan developed at corporate level
- Consolidate risk exposure via compliance checklists in all country-level departments and give data to Project monitoring associate
- Percentage of in-country staff trained on risk and compliance issues (15%)
- Percentage of local compliance regulations met by required date (15%)
- Corrective action response time (10%)
- Number of implemented opportunities for improvement (OFI) vs. number of raised opportunities for improvement during internal and external audits (15%)
- Percentage of business services in the country not covered by risk analysis (10%)
- Savings generated and costs avoided associated with identified audit issues (5%)
- Overall corporate performance (10%)
- Feedback – The annual average rating from 360-degree surveys launched (10%)
- Country audits
- Country audit reports
- Implementation of country risk mitigation strategy report
- Technical (90%)
- Administrative (10%)