Head of Internal Audit

Context for the Role:

The Ardonagh Group is a diversified insurance distribution platform which ranks as a top 15 insurance broker globally. It operates globally across 5 platforms in the UK, Europe, APAC, LATAM and its specialist London Wholesale market business. It places $18Bn of insurance premium annually, generating c. £2.0Bn of income. It is owned by funds managed by HPS Investment Partners, Madison Dearborn Partners, Stonepoint Capital Partners, the Abu Dhabi Investment Authority, management and employees.

The Ardonagh Europe segment of The Ardonagh Group was established in late 2021 to deliver growth through investment in several carefully identified European markets and is headquartered in Dublin, Ireland. It has grown rapidly and now has operations in Netherlands, Ireland, France, Switzerland, Austria, Italy and Greece. It employs c. 1,500 people and distributes over €2Bn of GWP annually.

To support its sustainable growth Ardonagh Europe is recruiting a Head of internal Audit to establish a shared Internal Audit function which operates across the Operating Segments (countries).

Purpose of the Role:

This role will be with the Ardonagh Europe central platform. It will report the Chair of Ardonagh Europe’s Risk and Audit Committee, reporting to the CFO on a day to day basis.

Key role will involve:

• Own AE wide internal audit function responsible for developing and delivering the audit methodology.
• Working closely with the AE Board and Leadership Team to ensure that they are aware of all appropriate risks inherent in delivering the corporate strategy
• Timely and accurate identification and reporting to the AE Board and Leadership on all audit matters

Key to the role is independence and objectivity. At the same time, the role will serve as a strategic partner to senior management in monitoring governance, risk management and the control environment.

Key Role Accountabilities (Senior Manager responsibilities to be specifically detailed):

• Preparation of internal audit schedules and comprehensive audit programs.
• Deliver audits for all operating segments in AE, in accordance with internal audits schedules.
• Deliver the assessment of the relevancy, reliability and credibility of financial and operating information.
• Deliver the assessment of the effectiveness and efficiencies of the utilisation of the organisation's resources.
• Deliver the assessment of compliance with legal and fiscal requirements and other regulatory matters.
• Identification of non-conformities analyses and discusses audit findings across the company and suggests recommendations.
• Prepare regular status reports of audits executed.
• Manages the periodic inventory and budget audits against the standard financial requirements.
• Coordinates with External Auditors, ensuring efficient implementation of the overall statutory financial audit plans.
• Coordinates with second line assurance providers.
• Manages the evaluation and testing of business processes and controls with the objective of ascertaining proper identification of risks and strategies of mitigating these risks.
• Promotes the adoption of the good practice in internal control system.
• Reviews the analysis of data obtained and audit findings for issues concerned with fraud and liabilities.
• Develop approach and manage delivery of overseas audits.

Qualifications & Experience:

• Professional qualification from a recognised institution.
• 10-15 years’ experience with 5 years in a senior managerial capacity with specific industries experience in financial services.
• Significant internal audit experience including at managerial level.
• Sound understanding of code of ethics and international standards for professional practice of internal audit.
• Sound knowledge of risk management and audit principles and an understanding of audit philosophy, methods and techniques.

Person Specification:

• Excellent communication skills, confidence to communicate with senior management and external bodies
• Good analytical and communication, and stakeholder management skills
• Excellent report drafting skills