Job vacancy Internal Control Officer


Announced
11 July, 2024
Job Type
Employee
Job Status
Full Time
Job Title

Internal Control Officer

Job Location
Job Presentation
Company Profile

The country’s favourite insurance group is Hollard Ghana, with subsidiaries Hollard Insurance and Hollard Life Assurance. The group combines its deep local knowledge of the market having previously operated in Ghana for 25 years as Metropolitan Insurance with the world-class expertise of an international insurance brand in 18 countries across the world. With feet firmly planted on Ghanaian soil but headquartered in South Africa, Hollard delivers innovative insurance solutions customized to the unique risks Ghanaians face. Hollard offers various life and general insurance products including funeral, personal accident, motor, business, travel, home, and more. Beyond various nationwide office branches and Hollard 2U franchise shops, Ghanaians can find Hollard at Shell Fuel Station Welcome Shops, Melcom stores and online at www.hollard.com.gh and www.jumia.com.gh for all their insurance needs. Hollard is a three-time certified Top Employer by the Top Employer Institute.


Hollard Ghana is looking for Internal Control Officer

Job Objective
Responsible for developing, implementing, and maintaining a robust internal control system within the business. This role encompasses working closely with various departments to identify risks, implement controls, and improve processes. This also includes overseeing the effectiveness of controls within the Claims, Underwriting processes as well as monitoring reinsurance activities.

  • Report to: Group CFO
  • Job Location: Accra
  • Main Duties & Responsibilities

  • Internal Control Evaluation: Conduct regularly review and update internal control systems specific to insurance operations, including underwriting, claims processing, policy issuance, and premium collection to ensure they are effective and compliant with regulatory requirements.
  • Compliance Monitoring: Plan and conduct reviews to evaluate the effectiveness of internal controls and compliance with policies and procedures. This is to ensure adherence to industry regulatory requirements, including those set by the Insurance Regulatory Authority and other relevant bodies. Develop and implement compliance programs to address regulatory changes and ensure ongoing compliance.
  • Risk Management: Identify, assess, and prioritize risks inherent in the insurance business. Develop and implement risk management strategies to mitigate financial, operational, and compliance risks. Update risk register.
  • Audit Coordination: Prepare for and support internal and external audits, focusing on areas such as underwriting, claims, reinsurance, and financial reporting. Address audit findings by implementing corrective actions and monitoring their effectiveness.
  • Policy and Procedure Development: Develop, review, and update internal control policies and procedures tailored to the insurance industry. Ensure policies and procedures are effectively communicated and understood by all employees.
  • Training and Awareness: Conduct training programs for staff on internal controls, regulatory compliance, and risk management specific to the insurance industry. Promote a culture of risk awareness and compliance throughout the organization.
  • Claims and Underwriting Review: Perform regular reviews of claims and underwriting processes to ensure they comply with internal policies and regulatory requirements. Identify trends, anomalies, and potential areas of fraud, and recommend improvements.
  • Reinsurance Monitoring: Ensure that reinsurance arrangements are properly managed and comply with company policies and regulatory requirements. Monitor reinsurance recoveries and assess the adequacy of reinsurance coverage.
  • Reporting and Documentation: Prepare detailed reports on internal control assessments, compliance reviews, and risk management activities. Document and track the implementation of corrective actions and improvements.
  • Continuous Improvement: Stay informed about industry best practices, regulatory changes, and emerging risks in the insurance sector. Propose and implement improvements to internal control systems and processes to enhance efficiency and effectiveness.

  • Education Required: University degree

    Requirements
    • Qualification and Relevant Experience
    • University degree in Finance, Actuarial or a related field
    • Minimum of 6 years’ experience in internal control, audit, or risk management
    • Certificate in Compliance Management is desirable
    • Strong understanding of internal control frameworks
    • Excellent analytical and problem-solving skills.
    • Strong communication and interpersonal skills.
    • Proficient in Microsoft Office Suite
    • Ability to manage multiple priorities and deadlines.
    Valid Till
    25 Jul, 2024

    JOB BY
    Jobsinghana
    59 Okodan St, Blue Gate district, Osu, Accra near Papaye, Accra
      +233 0302 760143, +233 24 3925110

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