Internal Auditor
Job Summary / Introduction
Our client is seeking an experienced Internal Auditor to join a growing internal audit function within the property and casualty insurance industry. This role is responsible for conducting financial, operational, compliance, and information systems audits to evaluate the effectiveness of internal controls, risk management, and governance processes.
The successful candidate will support audits across underwriting, delegated authority arrangements, reinsurance operations, financial reporting, third party administrators (TPAs), managing general agents (MGAs), and corporate functions. This position offers the opportunity to work in a complex insurance environment with a strong focus on regulatory compliance, Model Audit Rule (MAR), Internal Controls over Financial Reporting (ICFR), and enterprise risk management.
Skills & Experience
- Bachelor’s degree in Accounting, Finance, Information Systems, or a related field.
- 3 to 7+ years of experience in internal audit, external audit, regulatory compliance, or insurance operational audit.
- Experience within a property and casualty insurance carrier, fronting carrier, MGA, program carrier, public accounting, or insurance consulting environment is preferred.
- Strong understanding of internal audit methodologies, COSO framework, risk assessment, and internal controls.
- Experience with Model Audit Rule (MAR), ICFR testing, walkthroughs, control documentation, and deficiency evaluation is highly desirable.
- Knowledge of property and casualty insurance operations, delegated authority, MGA oversight, reinsurance, and third party risk management.
- Familiarity with Statutory Accounting Principles (SAP), NAIC regulations, and insurance financial reporting.
- Understanding of information systems auditing, cybersecurity controls, and data governance.
- Strong analytical, problem solving, communication, and report writing skills.
- Advanced Excel skills and experience with audit analytics or business reporting tools.
- Professional certifications such as CPA, CIA, or CISA, or progress toward certification, are preferred.
Detailed Job Description
- Plan and execute financial, operational, compliance, information systems, and risk based audits.
- Evaluate the design and effectiveness of internal controls over financial reporting and operational processes.
- Perform audits of underwriting, claims administration, reinsurance operations, delegated authority arrangements, MGAs, TPAs, and other outsourced service providers.
- Assess compliance with insurance regulations, contractual obligations, and internal policies.
- Review controls relating to premium reporting, collateral management, claims handling, reinsurance reporting, and delegated authority oversight.
- Support enterprise risk assessments and contribute to the development of the annual internal audit plan.
- Prepare comprehensive audit workpapers, document findings, and develop practical recommendations to strengthen controls and improve operational effectiveness.
- Present audit findings to management and monitor remediation efforts to ensure timely resolution of identified issues.
- Evaluate financial transactions, operational data, system outputs, and management reports for accuracy, completeness, and compliance.
- Assess information technology controls, cybersecurity controls, and data integrity across key business systems.
- Identify opportunities to improve operational efficiency, governance, automation, and risk management processes.
- Build collaborative relationships with business leaders, regulators, external auditors, consultants, and other stakeholders.
- Support a culture of strong governance, accountability, continuous improvement, and effective risk management across the organization.
