Internal Control Officer/Sr. Officer
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Key skills for this role
About the Role
Qatar Insurance Group seeks an Internal Control Officer to develop and maintain a robust control environment, design policies and procedures, manage internal controls, and oversee audit processes.
Key Skills for This Role
Responsibilities
- Develop a Control Environment to prevent fraud, financial leakage, and ensure high productivity
- Create and update internal control library and integrate controls in IT applications
- Design Policies and Procedures for all departments meeting regulatory requirements
- Map policies and procedures to internal control library and regulations
- Manage development of systems for creation, updation, dissemination, and periodic review of policies and controls
- Review, identify, and document key risk areas and devise controls
- Develop and manage a dashboard monitoring real time performance of critical controls
- Generate monthly and quarterly reports on internal control status
- Manage internal, external, and regulatory audit process
- Regularly meet with department heads to review control environments
- Evaluate manual control processes for automation opportunities
- Oversee integration of automated controls into existing systems
Requirements
- 3 5 years of experience in the insurance and reinsurance industry, or Information Technology/Analytics involved in the Insurance domain
- Chartered Accountant or MBA from Tier 1 or Tier 2 B School
Full Job Posting
Key Responsibilities
- Responsible for the development of a Control Environment which ensures the prevention of fraud, no financial or resource leakage/loss, and high productivity in the organization.
- Create and update internal control library and integrate those controls in IT Applications.
- Design Policies and Procedures of all Departments meeting regulatory requirements and their respective business needs in consultation with respective Department Heads.
- Map policies and procedures to internal control library and regulations.
- Manage development of systems for creation, updation, dissemination, periodic user review and sign off of policies, procedures, internal controls.
- Obtain the concurrence of respective Department Heads on the internal control register.
- Review, identify, and document key risk areas across all operational facets, employ quantitative and qualitative assessment techniques and devise controls against those risks to strengthen the control environment.
- Develop and manage a dashboard that monitors the real time performance of critical controls, providing alerts on control failures or significant deviations from expected parameters.
- Generate monthly and quarterly reports detailing the status and effectiveness of internal controls, highlighting areas of concern and achievements.
- Manage the internal, external, and regulatory audit process; responsible for clean audit reports and use findings to strengthen future control measures.
- Regularly meet with department heads to review control environments specific to their departments, ensuring alignment with overall corporate objectives.
- Solicit feedback on control systems and incorporate suggestions into the continuous improvement cycles.
Experience
- The Candidate should have 3 5 years of experience in the insurance and reinsurance industry, or Information Technology/Analytics involved in the Insurance domain.
Qualification
- The candidate should have qualifications including a Chartered Accountant or an MBA from Tier 1 or Tier 2 B Schools.
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