Internal Audit Associate

Job Description

Job Description

About SILAC

SILAC Insurance Company is one of the fastest-growing insurance companies in the nation and continues to be a top contender in the industry.

SILAC offers industry-leading annuity products that help individuals prepare for retirement. Teams can align around a shared vision of providing clean, simple & competitive products for clients, delivering best-in-class service to agents & business partners, and propelling the success of our employees.

With a fast-growing team of more than 300 employees, we are committed to remaining adaptable, innovative, and trustworthy for our clients, agents, and employees.

We hold true to our core values :

• Adaptability & Continuous Improvement
• Transparency & Trust, Honesty & Integrity
• Teamwork & Collaboration
• Gratitude & Compassion

At SILAC Insurance Company, we welcome and encourage diversity and are dedicated to creating an environment and culture that is respectful and inclusive for everyone.

Internal Audit Associate

Job Overview :

An Internal Audit Associate will assist the Internal Audit team to build interdepartmental relationships, conduct risk assessments, evaluate the effectiveness of applicable processes and controls, and report the results and findings to process owners.

They will also assist in other ad hoc procedures and tasks.

Department Overview : The Internal Audit department at SILAC is responsible for providing assurance to management and the board of directors on the effectiveness of risk management, internal controls, and corporate governance.

Additionally, Internal Audit adds value by working with stakeholders to improve processes as needed.

Job Details

Audit Procedures

• Conducts operational, compliance, and financial audits of SILAC's processes, functions, and departments in accordance with generally accepted auditing standards and professional standards for the professional practice of internal auditing.
• Conducts audit procedures for the purpose of improving risk management processes, strengthen internal controls, identify ineffective processes and enhance corporate governance.
• Effectively manage audit projects and resources both individually and as part of a team.
• Assists in the execution of the annual Model Audit Rule audit and the annual Own Risk Solvency Assessment.
• Assists the Internal Audit Manager and Senior Internal Audit Associates in performing walkthroughs, risk assessments, and developing audit plans of key internal processes and procedures.
• Documents and evaluates the design and effectiveness of internal controls over financial reporting.

Communication

• Communicate professionally with contacts throughout the organization
• Develops and communicates audit findings to the Internal Audit Manager and works with process owners and managers to develop and implement remediation plans.
• Initiate clear and frequent updates to Internal Audit staff and key stakeholders

Administrative

• Assist external auditors and regulators with requests for documentation and information as needed.
• Conduct ad hoc analysis and investigations when necessary to resolve issues and mitigate risks as they become known.
• Other duties and projects as assigned.

Job Requirements

Bachelor's degree in Accounting, Finance, Information Systems or related field, with one to two years' work experience in Finance, Accounting or Information Systems;

or any combination of education, professional training, or work experience that demonstrates ability to perform the job.

• Basic knowledge and skill in applying internal auditing and accounting principles and practices, management principles and preferred business practices.
• Excellent written and verbal communication, interpersonal, and relationship building skills.
• Strong proficiency with working with data through Microsoft Excel and other analytical tools.
• Detail-oriented with ability to be accurate and complete tasks correctly.
• Ability to plan, prioritize, and meet time standards.
• Ability to work independently with limited supervision.

Desired

• Experience in risk assessment and control testing.
• Previous auditing experience in financial services or insurance industries.
• Experience within the life, health, or property and casualty insurance industry.
• Professional certifications or actively working towards certifications (CPA, CIA, CISA, CMA, CFE).
• Demonstrated knowledge of audit tools like ACL, IDEA, and Microsoft SQL.
• Experience with accounting software applications (i.e.,FIS, IBM, SAGE).

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