Head of Internal Audit

Job Description

Title: Head of Internal Audit

Company Name: Federal Insurance PLC

Vacancy: 1

Age: At most 50 years

Job Location: Dhaka

Salary: Negotiable

Experience:

• 12 to 15 years
• The applicants should have experience in the following business area(s): Insurance

• Master’s degree in Accounting, Finance, or Management from a reputable university.

• Qualified Chartered Accountant (FCA / ACA) or Cost & Management Accountant (FCMA / ACMA) will be given strong preference. Professional certification such as CIA (Certified Internal Auditor) is highly desirable.

• 12 to 15 years
• The applicants should have experience in the following business area(s): Insurance

• Age At most 50 years

Experience Requirements:

• At least 12 to 15 years' experience in Insurance/Financial sector, with minimum 3–5 years in a leadership/head role.

Candidates must have:

• Direct experience in the Non-Life General Insurance sector will be given high preference.

• In-depth understanding of non-life insurance operations, underwriting and claims audit mechanisms, IDRA statutory guidelines, and insurance accounting frameworks.

• Excellent writing and editing skills in English and Bangla.

• Computer literacy with commendable efficiency and familiarity with ERP/Insurance Audit Software.

• Candidate must be willing to travel across branch offices nationwide as and when required.

Job Context: Federal Insurance PLC, a well-reputed Non-Life Insurance Company, is looking for an experienced, energetic, result-oriented, and self-motivated candidate to serve the Company as Head of Internal Audit.
Responsibilities:

• Plan, execute, and lead comprehensive internal audit programs across the Head Office and all branch operations nationwide.

• Evaluate internal control systems, identify operational gaps, mitigate fraud risks, and ensure strict compliance with corporate governance policies and company service rules.

• Ensure all auditing processes strictly align with guidelines set by the Insurance Development and Regulatory Authority (IDRA), BSEC Corporate Governance Code, NBR, and the Insurance Act, 2010.

• Present detailed audit reports, key findings, risk assessments, and strategic recommendations directly to the Board Audit Committee and Senior Management.

• Conduct periodic financial, operational, underwriting, and claims settlement audits to prevent mismanagement and financial irregularities.

• Travel nationwide across branch offices as and when required.

• To prepare monthly activities report.

• Any other task assigned by the Management.

• Weekly 2 Holidays, Gratuity, Group Life Insurance

• Festival Allowance: 2 (Yearly)

• TA & DA as admissible

• Executive transport facility as per company rules