Job Description
Role Purpose:
We have a great opportunity for an Audit professional to develop and improve the Internal Audit methodology at PIC, by providing thought leadership on the approach and delivery of audit services and on the evaluation of the overall control environment at PIC. Support the Chief Internal Audit Officer in setting the Internal Audit strategy and monitor its implementation.
Key responsibilities:
- Maintain an appropriate end to end Audit Lifecycle methodology.
- Maintain and oversee a Quality Assurance and Improvement Programme to ensure that IA operates in compliance with IIA / IPPF and other standards / regulations in all aspects.
- Design, co-ordinate and deliver an appropriate response to External Quality Assessment recommendations.
- Understand the Company’s operations and regulatory environment and ensure that this is adequately taken into account during the planning and delivery of the Annual Internal Audit plan and in each audit assignment.
- Design and deliver a training plan to ensure the provision of relevant training to the IA function.
- Maintain an Audit Universe with an ongoing risk assessment/review of the audit plan with key stakeholders.
- Lead the reporting of Internal Audit activity to governance fora, including the Board Risk Committee, the Board Audit Committee and the Executive Management Committee.
Requirements
Knowledge, experience, skills & abilities:
- Good knowledge of the Financial Services sector, with in depth knowledge of Investment Management and Insurance, including regulatory requirements
- Proficient in the understanding and implementation of the governance of an Internal Audit Function and its practices.
Benefits
Benefits:
- In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you'll get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.
- This role offers hybrid working, and we are open to discussing flexible working arrangements too.
About PIC:
The purpose of PIC is to pay the pensions of its current and future policyholders.
PIC provides secure and stable retirement incomes through leading customer service, comprehensive risk management and excellence in asset and liability management. At 30 June 2022, PIC had insured 293,400 pension scheme members and had £44.1 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of U.K. defined benefit pension schemes. Clients include FTSE 100 companies, multinationals, and the public sector.
PIC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). For further information please visit www.pensioncorporation.com
In essence, we are a simple business: we take on assets transferred from defined benefit pension schemes through buy-ins and buyouts invest them, and use the cashflows generated from these investments to pay our policyholders’ pensions. PIC operates in the Pension Risk Transfer Market.
Our Culture:
PIC employs highly skilled individuals who all work to deliver a common purpose, supported by a culture of innovation and a strong set of values. Our success in hiring new people is due to our focus on creating a purposeful and stimulating working environment, where individual contributions are recognised within a collaborative, team-based effort.
Work Benefits:
We want our employees to be appropriately rewarded for their outstanding work, and PIC offers competitive remuneration packages and a generous range of benefits.
These include:
- hybrid working model
- competitive pension contributions
- private medical cover
- travel insurance
- season ticket loans
- access to 24/7 mental health support through an employee assistance programme
- a Cycle to Work scheme and a dedicated secure cycle space at our London office
- death in service benefit
- save as You Earn (“SAYE”) scheme. Allows employees to build up blocks of shares in the Company. The scheme is open to all employees on an annual basis
- discretionary family leave enhancements including up to 26 weeks maternity and 4 weeks paternity
Diversity and Inclusion:
Diversity of thought is critical to PIC’s success, helping us to deliver our purpose in an innovative way. PIC demonstrably values individuals regardless of background or experience. It is important for us that our people can discuss cultural and other issues that are important to them in a respectful and engaging way.
PIC has been the lead sponsor for the Actuarial Mentoring Programme for the past five years. The initial aim was to retain female actuaries in the profession, and it now has a wider D&I remit. We also have our own mentoring programme, offering opportunities to people across all professions. Our Aspiring Managers Programme has a target of 50% female participants.
In 2021 we created our own Early Careers Academy, which encompasses the 10,000 Black Interns Programme and our own Apprenticeship Programme. Both these programmes focus on attracting diverse talent.
PIC also partners with LGBT Great, Group for Autism, Insurance, Investment and Neurodiversity (GAIN) and RedStart, which is a charity providing financial education to children from disadvantaged areas.
We joined Women in Banking and Finance to provide our female talent with access to learning, networks, and development opportunities, as well as enabling us to learn from other member organisations on how we can continue to keep improving as an inclusive employer.
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Workplace Initiatives |
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Program for parents returning to work after Parental Leave? |
Yes |
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Leadership development programs? |
Yes |
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Mentoring programs? |
Yes |
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Coaching programs? |
Yes |
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Employee-led diversity networks? |
Yes |
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Internal women’s networking groups? |
Yes |
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Open to discussing flexible work arrangements at interview stage? |
Yes |
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No. of weeks paid maternity leave at full salary: |
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Minimum weeks tenure required to be eligible for paid maternity leave: |
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No. of weeks paid paternity leave at full salary: |
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Minimum tenure required to be eligible for paid paternity leave: |
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Gender pay gap reporting information (2021) (UK): |
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Average pay gap: |
18.4% |
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Median pay gap: |
6.8% |
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Average bonus gap: |
1.1% |
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Median bonus gap: |
23.4% |
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Signatory of the UK Women in Finance Charter? |
N/A |
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Targets to raise the number of women in leadership? |
Yes |
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Targets to raise the number of BAME individuals in leadership? |
N/A |
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Listed in the Bloomberg Diversity & Inclusion Index? |
N/A |