Senior Director

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Assists the Group Chief Internal Auditor in providing the Regional and Local Business Unit (LBU) Board and Management quality and independent assurance on company’s internal controls and identifying opportunities for improvement over all aspects of the business.

Job Scope

A member of the GwIA Leadership Team, responsible for:

• Assisting the Group Chief Internal Auditor in developing and continuously reviewing on a periodic basis risk based audit plan for Regional and Prudential Group, aligned to BU strategy.
• Managing the delivery of a portfolio of audits within designated areas of responsibility (both country portfolio as well as functional SME areas) in line with agreed annual audit plan, continuously reviewing to ensure alignment between audit strategy and business strategy.
• Providing insightful and impactful forward looking views, including identification of emerging risks and control themes to senior and executive management and the various governance forum, specifically the Group and LBU Audit Committees, on an on-going basis.
• Supporting the business in achieving its objectives by providing internal control assessment / improvement through audit work and recommendation for remediation plans for the risks identified.
• Act as lead for GwIA’s Leadership & Development programme
• Other GwIA driven initiatives.

Principal accountabilities:

To provide value adding contribution to audit reviews of processes, controls and systems, within Prudential and across the other business units in the Group as required:

Project/Audit Execution:

• Oversee the construction of the annual audit plan in consultation with their colleagues and business line management. Clear articulation of specialist audit and resource needs to deliver the annual audit plan provided to Technical Leads
• Responsible individually and collectively for the scheduling of the resources of the Audit Plan. Ongoing liaison with the GwIA Practice Team to ensure effective management of the GwIA resource plan
• Oversee the delivery of a large portfolio of audit assignments within designated areas of responsibility (both country portfolio and their functional SME areas) in line with the approved audit plan. This includes responsibility to:
  • Guide, review and approve work carried out on audit assignments to ensure the scope of work is appropriate, controls are correctly identified, assessed and carried out in accordance with GwIA Methodology, policies, professional standards and budget.
  • Deliver a view on the effectiveness and adequacy of risk management and controls to Group Chief Internal Auditor and to senior and executive management.
  • Guide, review and approve committee reporting, audit reporting and propose pragmatic remediation actions, relevant to the issues raised by GwIA.
  • Bring to the attention of the Group Chief Internal Auditor and executive management control and risk management issues, weaknesses or irregularities of material significance in the existence of application of controls.
  • Set the standard for quality reporting.
  • Update awareness of risk issues and changes across relevant business areas. Use this knowledge to input to audit strategy and direction.
  • Promote a culture of efficiency through use of expert knowledge to focus audit plan and to support GwIA strategic direction.
  • Build a deep understanding of the strategy of each BU within area of responsibility which may impact, including social / economic / technological trends in all client and customer groups
  • Guide and advise the audit lead responsible for discussing the audit report and findings with senior line management and for ensuring that appropriate responses are obtained for each issue raised in the report.
• Promote a team effort approach and shows appreciation for contributions of team members creating a positive work climate
• Develop within a team of auditors the ability to develop and execute a comprehensive data analytic test plan for audits
• Seeks opportunities to increase the use of data analytics testing by encouraging their teams to add new tests to the data analytics library, and actively encourages the use of data analytics to improve the controls of the second line
• Perform continuous monitoring of emerging risks and key changes to the businesses
• Keep under continuously review the risk based audit plan in consultation with other auditors and business management, are aligned with audit and company’s strategies and covers all major risks the business faces
• Take a lead role in shaping the on-going development of the internal control processes through disseminating best practices
• Oversee effective and efficient use of the team’s resources and budget.
• Through participation in the GwIA Senior Management Team, supporting the execution of a range of continuous improvement, administrative and reporting activities needed to meet GwIA stakeholder requirements.
• Provide technical expertise and support to the local BU audit teams to deliver a relevant and consistent output.
• Input to ad-hoc investigations based on requests from the Group Audit Committee and/or the regulator.
• Assist the Group Chief Internal Auditor to shape and implement the function’s strategy.

Self-Development:

• Keeps abreast of new information and developments in the industry or best practices in auditing and in areas of specialism (e.g., by reading, liaising with organization and business core group contacts, or by attending learning and training events)

Relationship Management:

• Maintains good working relationships with the GwIA senior management team and their teams to facilitate audit activities
• Routinely engages and meets business stakeholder as part of GwIA continuous monitoring activities
• Conducting broader stakeholder management activity across your area of responsibility, including engagement with independent non-executive directors and local regulators, attendance at audit (local and group) committees and local executive, steering and integration committees.
• Build strong effective working relationships and mutual trust with all GwIA colleagues across GwIA’s global locations. Display strong team-working skills to support the broader audit function by leveraging knowledge to the best use of the group, while at the same time demonstrating cultural sensitivity.
• To promote GwIA and the service it provides by building strong and effective working relationships with senior and executive stakeholders, other staff and external auditors and regulators; and, by so doing, influence business strategy and policy, working practices and standards by providing insight, challenge and thought leadership. In some cases this may include representation of GwIA at project, risk and governance forums/committees.

Reporting and Management Information

• As part of proactive planning or at the request of the Group Chief Internal Auditor, prepare the internal audit reports and papers for Board and Management committee reporting (and participate in such meetings required), on the status of the audit plan, audit results and issues status

Staff Management and Leadership:

• Provide leadership and act as role model for the GwIA teams across the region, build, develop and support talent, and manage the recruitment and retention of staff members within your area of responsibility
• Support the Group Chief Internal Auditor in ensuring that all responsibilities are fully met, including contributing to the management of the audit function as a member of the GwIA Senior Management Team, including the development / maintenance of subject matter expertise aligned to Prudential Group’s current and emerging risks.
• Lead, manage, motivate and inspire a team of specialists auditors at various audit levels within a matrix structure - including performance management, coaching, mentoring in order to support GwIA in delivering its strategy.
• Embed performance culture while encouraging staff to achieve their full potential in their chosen areas of development.
• Contribute to the development of GwIA audit methodology and working practices in line with world-class practice using existing developed network and benchmarking within the Financial Services Internal Audit profession.

Technical accountabilities

• Identify and assess key risks and issues facing global Life Insurance organisations, and the underlying operational drivers.
• Develop internal forums to share technical knowledge and increase awareness to emerging financial and operational risk across the organisation. This will include building successful and effective working relationships with the global GwIA community to discuss market trends and the level of risk exposure.
• Provide technical updates to internal audit teams when required in area of specialism.

Core Competences Required:

• When providing audit oversight or acting as a technical expert, serve as a technical advisor and role model for the auditors on audit assignment
• Undertake proactive measures to understand and respond to Senior Management and Audit Committees expectations
• Demonstrate the ability to listen, understand and respond effectively. Willing to engage in constructive conversation with others
• Work co-operatively within diverse teams, work groups and collaborate with other departments across the organization to achieve group and organizational goals
• Display self-confidence when take on responsibilities and dealing with key stakeholders
• Facilitate teamwork by contributing to team effort, sharing responsibility for team results, and exhibiting a positive attitude
• Accept ownership and responsibility, including taking on additional responsibilities to help the department’s and team’s objectives
• Maintain technical competencies and stay informed about new developments by attending required training and seminars.

Education and Experience:

• Post Qualification - at least 20 years’ experience in an IA, External Audit and/or second line role in the Life Insurance industry or other financial services, with extensive management (including staff management) experience.
• An extensive awareness of current and emerging industry risks within financial services and a clear appreciation of the regulatory environments across the industry and within particular markets
• Recognised Audit or Accountancy Qualification
• Additional audit, accountancy or relevant qualifications (such as CIA, CISA, CAMS, CIPD) is beneficial
• Data Analytics experience is beneficial
• Apart from business-as-usual audit work, have track records of delivering impactful initiatives / products which have helped elevate the function
• Good understanding of the local regulations
• Superior communication skills (oral and written) with both GwIA and business senior stakeholders and the regulator including clear communication of technical topics, experience of influencing and challenging senior management and building excellent relationships.
• Experience in successfully managing teams as well as coaching and developing people.
• Ability to evaluate, synthesise, organise and interpret data and information to deliver valuable insights.
• Track record producing value-adding, commercially realistic recommendations in risk, consultancy or internal audit environment
• High attention to detail and rigorous logical thinking ability
• Good Team player, who can gain the professional respect of the team

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.