Internal Auditor

Location Toronto, Canada Job type Full-Time Work mode Hybrid Job level Professional Job ID 11143 Company Munich Re America Services Employment type Regular Area of expertise Audit, Compliance & Legal

Internal Auditor

Description:

Be a part of a dynamic, global team As part of the North America Audit Hub, you provide audit services to Munich Re's North America entities to assist senior management in the achievement of the Company's strategic objectives. As a trusted advisor, the Internal Auditor builds effective relationships while providing independent value-added Internal Audit services necessary to provide reasonable assurance regarding the effectiveness of governance, compliance, risk management, and internal controls systems. The Internal Auditor participates as a lead staff on engagement teams that conduct independent assessments of Munich Re's internal control environment through the execution of risk analysis, control evaluation, and audit testing procedures and techniques.

Individuals in the Internal Auditor role participate in the execution of audit engagements from audit planning activities through completion of the engagement. Depending on experience, individuals in the Internal Auditor role demonstrate the ability to independently apply audit methodology to all phases of the audit life cycle from planning to reporting, including understanding business operations, scoping the audit, identifying risks and controls, designing and executing testing with minimal oversight, and assisting with the writing of audit reports.

Major Accountabilities:

• Contributes to, or depending on experience independently conducts, thorough risk analysis, control identification, and audit program development.
• Independently concludes on the effectiveness of controls.
• Identifies control gaps and exceptions and independently evaluates the potential impact. Is able to clearly document the results of work on more than one audit at a time.
• Executes and completes assigned audit work in accordance with agreed upon milestones and dates.
• Demonstrates technical knowledge of routine business processes and continues development of technical and analytical skills to understand more complex business processes.
• Independently or with guidance from project lead interprets the associated risks, develops testing approaches, and proposes solutions.
• Effectively communicates control weaknesses and control gaps to operational management. Makes sound recommendations for audit finding ratings and effectively supports conclusions during discussions with audit clients.
• Contributes to continuous improvement (CI) efforts. Participates in efforts to solve problems and make audit processes more effective and efficient.
• Demonstrates an understanding of data analysis concepts and procedures. Effectively conducts data analysis to facilitate audit scoping and testing.
• Aware of changes in Internal Audit practices, regulatory requirements, and risk frameworks to understand their impact to Internal Audit and Munich Re. (e.g. COSO, IFRS, GAAP).

Requirements:

Successful candidates will possess the following skills/capabilities:

• A Bachelor's degree in Accounting, Finance, Economics, Business Administration, or equivalent work experience.
• Work Experience: One to three or more years of Internal Audit or relevant business experience with a focus on business process operations.
• Basic to intermediate knowledge of internal audit practices, and financial and operational process documentation.
• Demonstrated ability to evaluate internal controls, effectively participate or execute large portions of an audit independently, analyze and solve complex problems, conduct research, and express ideas clearly, concisely and persuasively both verbally and in writing.
• Demonstrates a strong understanding of business ethics. Insurance Industry / life insurance is a plus.
• A familiarity with ACL software (Audit Command Language) or other data analytics tool is desired.
• Progress towards completing the CIA or CPA exam is preferred. The completion of other insurance or audit related certifications is a plus.

At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

Our base salary range for this role is between $85,000 and $110,000 per year, plus an opportunity for an annual company bonus based upon a percentage of eligible pay. The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to internal equity. This role is located in our Toronto office on 390 Bay St, and we operate in a hybrid work model. This job posting is for a new vacancy. We do not use AI in our recruitment process - applications are reviewed by our team to ensure a fair and personalized experience.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.