Head of Internal Audit - Insurance Governance

Head of Internal Audit - Insurance Governance Job Snapshot Role: Head of Internal Audit - Insurance Governance Location: Dubai, United Arab Emirates Industry: Insurance Function: Accounting/Auditing Experience: Minimum 5 years Job Type: Full-time

Head of Internal Audit - Insurance Governance in Dubai, United Arab Emirates is a senior Insurance hiring opportunity with Al-Futtaim for an experienced audit professional responsible for independent assurance across governance, enterprise risk management, regulatory compliance, and internal controls. Reporting directly to the Board Audit Committee, the role leads risk-based audit coverage across finance, operations, compliance, information technology, and subsidiaries while safeguarding the independence and objectivity of the internal audit function.

Salary: Estimated salary range based on similar jobs in the job city; please confirm the final offer with the employer.

Gender: Any

Candidate Nationality: Any

Job Type: Full-time

Role Context

The Head of Internal Audit serves as an independent assurance leader within Al-Futtaim, providing the Board Audit Committee with objective assessment of whether governance structures, risk controls, regulatory processes, and internal control frameworks are operating effectively. The position carries organization-wide oversight and requires the ability to examine financial, operational, compliance, insurance, and technology risks without assuming management responsibility for the controls being audited. Through direct Board Audit Committee reporting, the role strengthens transparency, accountability, regulatory readiness, and disciplined risk governance.

Key Responsibilities

• Develop a risk-based annual internal audit plan covering significant business activities, subsidiaries, systems, processes, and organizational risks.
• Submit the annual audit plan to the Board Audit Committee for consideration and approval.
• Determine audit priorities using structured assessments of financial, operational, regulatory, technology and governance exposures.
• Maintain comprehensive audit coverage across finance, operations, compliance, information technology, and other material business areas.
• Maintain the Internal Audit Charter and facilitate its review by the Audit Committee at least once every three years.
• Preserve the independence, authority, and objectivity required for an effective internal audit function.
• Ensure Internal Audit remains separate from the design, implementation, ownership, and day-to-day operation of internal controls.
• Independently assess the effectiveness of corporate governance, risk management, and internal control arrangements.
• Evaluate the Three Lines Model and determine whether responsibilities across business management, risk and compliance, and independent assurance are functioning appropriately.
• Assess compliance with applicable Central Bank of the UAE regulations and other relevant regulatory requirements.
• Lead audit engagements through risk assessment, planning, fieldwork, evidence evaluation, reporting, and follow-up.
• Examine financial and operational processes to identify control weaknesses, inefficiencies, governance gaps, and material risk exposures.
• Ensure audit conclusions are supported by sufficient and reliable evidence with appropriate working-paper documentation.
• Present significant findings directly to the Board Audit Committee without inappropriate management filtering or alteration.
• Communicate high-risk control deficiencies clearly and explain their potential financial, operational, regulatory, or governance consequences.
• Develop practical recommendations that address root causes while maintaining the independence of the audit function.
• Monitor management action plans and verify whether agreed remediation measures have been implemented effectively.
• Escalate overdue, inadequate, or unresolved responses to material audit findings through appropriate governance channels.
• Coordinate with external auditors to strengthen assurance coverage and avoid unnecessary duplication of audit activity.
• Engage with regulatory authorities on internal audit and governance matters when required.
• Include information technology risks and controls within the audit universe and ensure appropriate IT audit coverage.
• Evaluate the reliability and effectiveness of controls supporting critical business and financial systems.
• Maintain structured records of audit plans, working papers, findings, management responses, remediation activities, and committee reporting.
• Identify recurring control weaknesses and emerging risk themes requiring senior management or Board attention.
• Promote professional skepticism, confidentiality, ethical conduct, and evidence-based judgment throughout audit activities.

Ideal Profile

Candidates should hold a Bachelor 's degree or higher in Accounting, Finance, Auditing, Risk Management, Insurance, or a closely related discipline. A minimum of 5 years of relevant internal or external audit experience within insurance or another regulated financial institution is required. Strong knowledge of insurance operations, regulatory frameworks, corporate governance, risk management, and internal control principles is essential. Professional qualifications such as Certified Internal Auditor, CPA, ACCA, or Certified Information Systems Auditor are strongly preferred. CISA is particularly relevant where responsibilities include technology and information systems audits, while insurance qualifications such as CII or ACII provide additional sector value. The successful candidate should be capable of engaging confidently with the Board Audit Committee, senior management, external auditors, and regulatory authorities. Independence of judgment, professional skepticism, discretion, analytical depth, and the ability to communicate significant risk issues clearly are fundamental to the position. Internal applicants must have completed at least 18 months of employment with Al-Futtaim and are required to inform their HRBP confidentially regarding their application.

Skills Set

• Risk-based internal audit
• Insurance audit
• Annual audit planning
• Audit risk assessment
• Corporate governance
• Enterprise risk management
• Internal control assessment
• Three Lines Model
• CBUAE compliance
• Regulatory compliance
• Insurance regulation
• Financial audit
• Operational audit
• Compliance audit
• IT audit
• Information systems controls
• Board Audit Committee reporting
• Audit Charter governance
• Audit independence
• Control effectiveness testing
• Audit evidence assessment
• Root cause analysis
• Audit findings management
• Remediation monitoring
• Regulatory engagement
• External audit coordination
• Governance reporting
• CIA
• CPA
• ACCA
• CISA
• CII
• ACII

Why Join Us

The Insurance sector requires increasingly rigorous oversight as regulatory expectations, digital risks, governance standards, and control environments continue to evolve. This position gives an experienced audit professional a significant assurance mandate with direct access to the Board Audit Committee and visibility across critical areas of the business. Al-Futtaim provides the scale and governance environment of a major diversified regional organization, creating exposure to sophisticated risk, compliance, technology, and financial control frameworks. The role offers substantial scope to influence assurance quality, strengthen organizational accountability, and develop further toward senior governance, risk, audit, and executive leadership responsibilities.

About the Company

Al-Futtaim is one of the region 's established privately held business groups, headquartered in Dubai, United Arab Emirates. Its operations span automotive, financial services, real estate, retail, and health across multiple international markets. With a broad portfolio of globally recognized brands and businesses, Al-Futtaim combines regional operating expertise with structured governance, customer focus, digital transformation, and long-term investment across its diversified business platform.

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