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.

Job Scope:

Assisting the GCIA in developing and continuously reviewing on a periodic basis risk based audit plan for Prudential Group and LBUs. 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. Other GwIA driven initiatives.

Project/Audit Execution:

Help to construct 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 and manage 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 Audit Directors and to senior and executive management. Contribute to clear and insightful committee reporting, audit reporting and propose pragmatic remediation actions, relevant to the issues raised by GwIA. Bring to the attention of the Group Audit Directors 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 the Group which may impact, including social / economic / technological trends in all client and customer groups. Support 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. Ensuring a post audit review is conducted at the end of each audit assignment in line with the GwIA audit methodology. 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. Construct and 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.

Relationship Management:

Maintains good working relationships and build mutual trust with the GwIA senior management team including functional Audit Directors and their teams to facilitate audit activities. Represent GwIA in management of key stakeholder relationships. Routinely engages and meets business stakeholder as part of GwIA continuous monitoring activities. 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, 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 GwIA Management, 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 and support talent development and retention of staff members. Support the Group Audit Directors in ensuring that all responsibilities are fully met, including contributing to the management of the audit function, 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 insurance and wealth management 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.

Education and Experience:

Post Qualification - at least 10 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 awareness of current and emerging industry risks within financial services and a clear appreciation of the regulatory environments within the industry. Recognised Audit or Accountancy Qualification. Additional qualifications such as CIA, CISA, CAMS beneficial. Data Analytics experience will be advantageous. Apart from business-as-usual audit work, have track records of delivering impactful initiatives / products which have helped elevate the function (e.g. helped automate a certain manual process / delivered an automated dashboard for more efficient risk identification etc.). Good understanding of the local regulations (Greater China and emerging markets). Ability to communicate (orally and written in English and Chinese) effectively with both GwIA and business senior stakeholders including 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. 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.

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