Head of Internal Audit

The job profile for this position is Financial Audit Advisor, which is a Band 4 Senior Contributor Career Track Role.

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The Cigna Group (NYSE: CI) is a global health service company dedicated to helping people improve their health, well-being and peace of mind.

Cigna’s mission is to provide Affordable, Predictable and Simple solutions to its customers worldwide. Cigna’s products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy and vision care benefits, and other related products including group disability, life and accident coverage. Cigna operates globally, with approximately 170 million customer relationships throughout the world. Strong financial results for the full year 2019 included revenues of over $153bn.To learn more about Cigna, including links to follow us on Facebook or Twitter, visit www.cigna.com. The Company is headquartered in Bloomfield, Connecticut, US.

Cigna is committed to its Middle East and Africa (“MEA”) business which it regards as an exciting engine for growth. Working closely with Cigna’s International businesses around the World Cigna MEA serves sectors including our significant corporate business across MEA, Governments seeking sector and population health solutions and cover for high net-worth individuals worldwide, using solutions based in the insurance sector as well as the provision of services. With major business wins to date this business is well-positioned for the future, and the successful candidate will be a key and valued contributor to Cigna MEA. Cigna is excited to have the opportunity to play a key role in the growth and innovation of the Saudi Arabian health services industry. Aligned with Vision 2030, Cigna aims to deliver global best practice, health capabilities and innovation and to bring a world of cutting-edge technology and global expertise to the Saudi Arabian healthcare system

Role Summary

The Cigna Group is looking for talented people with prior audit experience who are interested in being a part of The Cigna Group's rapidly evolving healthcare strategy. This is a new leadership position as the Head of Internal Audit for Cigna Worldwide Insurance Company Branch (CWIC) overseeing internal audit activities for Cigna’s business in the Kingdom of Saudi Arabia and being the Internal Audit registered function holder with the Saudi regulator. This leader will be responsible for establishing a best-in-class internal audit function, including management relationships with key stakeholders, and the developing and delivering a dynamic audit plan.  

This role is based in the Cigna’s Office in Riyadh, Saudi Arabia and will report to the local Chief Executive Officer with a dotted line to the Head of International Health Internal Audit.

Internal Audit has a critical role in ensuring the Company accomplishes its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.  As part of the International Health Audit team, you will have an active role in supporting and acting as an advisor to senior management and other stakeholders in providing value-added audit recommendations to mitigate risks, and drive efficiencies.

To achieve best in class service for our stakeholders, Internal Audit supports individual and team development through various trainings, coaching, and internal/external development opportunities. Additionally, we support the attainment, and maintenance of, relevant certifications for ongoing professional growth.

Key Responsibilities:

• Actively networks and manages critical relationships with senior business, technology and enabling function leadership and their respective teams.
• Drives effective coordination across the three lines to maximize risk-based and assurance coverage and avoid duplication of effort.

• Oversight of co-source partners to ensure audit activities are assigned timely, align with expertise, audit planning, execution and reporting are effective, and budgets are managed effectively. Manage relationship with co-source partner in-charge to align on status of activities and resolve matters requiring escalation timely.
• Active role representing Internal Audit in various internal committees including steering committees or operating committees on critical enterprise initiatives, and audit committees
• Lead and timely deliver the audit engagements pertaining to Cigna’s Saudi Arabia business, from planning to reporting, as committed in the Internal Audit plan
• Support the Head of International Health Internal Audit in the timely execution of audit and advisory projects focused on identified and changing evolving risks for Cigna’s Saudi Arabia
• Deliver meaningful insights on the Saudi Arabia Branch’ key controls environment to key stakeholders, including senior management, with the intent of driving efficiencies and effectiveness in processes and controls to mitigate risk.
• Collaborate with International Internal Audit colleagues.
• Lead on the preparation of the annual audit plan for Saudi Arabia Branch based on the audit risk assessment process considering all relevant audits required by the Insurance Authority.
• Support the Head of International Health Internal Audit in critical governance related tasks, Management reporting and other respective Internal Audit activities pertaining to Saudi.
• Follow up on reported Internal Audit findings and observations through review and monitoring of Management Action Plans.
• Act as the local Internal Audit single point of contact in Saudi Arabia
• Attend regular meetings with business unit leadership as per required by the local corporate governance.

Skills and Requirements

• Minimum of 6 years’ experience in internal and/or external audit within the insurance industry and/or other financial services sectors
• Minimum a bachelor’s degree in accounting, finance, business administration, or related field.
• Additional certifications, or willing to purse, such as CPA or CIA are being preferred.
• Understanding of accounting principles, control procedures, and audit standards and techniques.
• Knowledge of the Saudi Arabia’ s healthcare industry and insurer requirements is desirable.
• Understanding of risk assessment, audit execution and written and verbal reporting skills required.
• Ability to work independently on assigned portions of assurance and risk advisory projects.
• Ability to understand and highlight the applicable regulatory requirements.
• Build and maintain effective working relationships with management and other relevant stakeholders.
• Demonstrate the confidence and communication skills to work with and present information directly to the Head of International Health Internal Audit.
• Demonstrate ability to meet deadlines and manage workload expectations.
• Focus on quality and service with a keen eye on detail.
• Excellent verbal and written communication skills along with presentation skills both in English and local language.
• Ability to handle sensitive or confidential information in an appropriate and professional
• Ability to work a flexible schedule to accommodate project deadlines and travel.
• Proficiency in written and spoken English and Arabic is required.
• Team player

Other

Working arrangements can be discussed however 3 days per week in the local office are required. Travels for audit and other internal purposes may be required up to 30% in a year. 

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