Head of Internal Audit (f/m/d)

Job content

wefox is Europe’s leading InsurTech that is reinventing insurance at scale, with a record-breaking Series C funding round of $650 million in 2021, making it the largest funding round of any InsurTech to date.

wefox is revolutionising insurance by empowering the customer and delivering personalised experiences, driven by data. Our vision is to enable people to be safe. By providing our customers 360 degree advice through our network of advisors, we optimise each individual’s risk coverage through innovative prevention, assistance and insurance products.

The newly created role will establish a groupwide internal audit function. The Head of Internal Audit (f/m/d) is responsible for a strategic risk-based internal audit plan and managing the internal audit function in accordance with internal regulation and the professional standards for internal auditing promulgated by the Institute of Internal Auditors.

Responsibilities include providing reasonable assurance on the effectiveness of the organization’s risk management and the strength of internal controls. The position assesses organization-wide compliance with internal policies and procedures, laws and regulatory requirements (FMA), efficiency of operations and financial reporting.

The Head of Internal Audit (f/m/d) reports directly to the Audit Committee of wefox Holding Board and wefox Insurance Board with administrative oversight from the Chief Insurance Officer.

Tasks

• Overseeing all internal audit activities of the Group and its subsidiaries. Build and lead the internal audit team and establish function goals. Coordinate external resources during the build up phase and for specific themes.
• Develop, implement, manage and coordinate annually a risk-based internal audit plan. Ensure proper resourcing to successfully achieve the plan, and adjust the plan as needed in response to changes in wefox’s risk profile. Keep executive management and Audit Committee apprised of any changes needed to the internal audit plan.
• Analyze the organization to identify key risks related to risk management, internal controls or compliance law, regulations or internal policies, financial reporting and emerging risks. Provide feedback and recommendations on business risks and improving operational efficiencies and processes where appropriate.
• Issue audit reports to the Audit Committee and Management to highlight key audit issues and ensure follow up of findings and actions with the respective management
• Establish and ensure methodology documentation of risk-based internal audit plan, testing, audit reports, recommendations and action management.
• Provide technical assistance with investigations, special audits, and provide subject-matter expertise as needed.
• Maintain current knowledge on audit and Swiss regulatory oversight trends, especially around technology and insurance companies.
• In the establishing phase and for selected audits, direct the work of external auditors to ensure the audit work remains within wefox standards.
• Lead and coordinate the preparation of Audit Committee and related materials. Participate in the Audit Committee of the Board of Directors and the related management committee meetings. Prepare and present the Internal Audit Status Report at the relevant committees.

Profile:

• A Bachelor’s degree in a related field. Graduate degree a plus.
• 10 to 15 years of related work experience, preferable in a Head of Internal Audit position.
• CPA, CIA, CISA or equivalent required.
• Comprehensive understanding of COSO and Solvency II frameworks.
• In-depth knowledge of Swiss and Liechtenstein law and regulations required, especially Swiss ICS standards. Understanding of the Solvency II requirements and European insurance regulators, such as Bafin, are highly desirable.
• Strong knowledge of life and general insurance trends, regulations and business processes.
• Doer and make possible mentality with high adaptation to new ways of doing insurance.
• Ability to effectively communicate with the Board of Directors and Senior Management.
• Strong knowledge of internal audit methodologies, audit projects management, risks and controls.
• Strong English and German written and verbal communication skills.

What we offer:
Now, we’ve gotten to the fun part, the part where you get to brag about your company, those perks your friends are so jealous of!

Here are some of them:

• Flexible working hours including some days remote option
• 26 working days of vacation + 24th and 31st December.
• Seniority days: one day of extra holiday per employment year starting from the 2nd anniversary in the company (up to 30 days total holidays).
• Free coffee, fruit and snacks, because we need fuel!

If you love a less-formal work environment, flexible paid time off, a great compensation package and benefits offering - and most of all, being the authentic you, get in touch, we want to meet you!

To all the misunderstood geniuses, rebels and mavericks looking to change the world for the better. Come work with us!

Your contact person for this role is Christoph Löger.

We are an equal opportunity employer and values diversity. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status or disability status.

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