Audit Manager – Insurance Audit (IFRS 17 Focus)

Purpose of the Role

To lead and manage audit engagements within the Financial Services Insurance portfolio, with a specific focus on life and non-life insurance entities, ensuring compliance with IFRS 17, International Standards on Auditing and internal audit methodology, while delivering high-quality, compliant and client-focused audit outcomes.

Key Responsibilities

Audit Delivery & IFRS 17

• Lead the execution of audit procedures relating to:

o Insurance contract liabilities (LRC / LIC)

o IFRS 17 measurement models (GMM / PAA)

o IBNR / actuarial reserves

• Review technical accounting positions, judgements and disclosures under IFRS 17 and other relevant reporting standards.

• Ensure audit execution is aligned with International Standards on Auditing, regulatory requirements and internal audit methodology.

• Support engagement leaders in resolving technical accounting and audit matters.

Project Management (Critical Requirement)

• Demonstrate strong project management capability, including:

o Planning and monitoring multiple audit deliverables

o Managing tight deadlines across multiple stakeholders

o Identifying and proactively resolving risks and bottlenecks

• Drive delivery against key milestones and ensure the timely completion of audit activities.

• Coordinate engagement resources and manage day-to-day execution of audit workstreams.

Client Service Excellence

• Build and maintain strong client relationships through:

o Clear and professional communication

o Proactive issue identification and resolution

• Consistently deliver a high standard of client service.

• Support engagement leadership in managing client expectations and audit delivery.

Quality

• Ensure adherence to:

o International Standards on Auditing (ISA)

o Internal Audit Methodology

o Regulatory and professional standards

• Maintain inspection-ready audit documentation.

• Drive a culture of quality, accountability and professional scepticism.

• Review work completed by engagement teams and provide technical guidance where required.

Team Leadership & Development

• Lead and manage teams across engagements by:

o Allocating work appropriately

o Providing coaching and technical guidance

• Set expectations for:

o Accountability

o Quality of deliverables

o Timely execution

• Mentor, develop and motivate junior team members to support high performance and career progression.

Key Skills & Competencies

• Strong technical knowledge of IFRS 17, insurance accounting and audit methodology.

• Excellent analytical and problem-solving skills.

• Strong communication and stakeholder management skills.

• Strong project management and organisational skills.

• Ability to operate under pressure and tight deadlines.

• High level of professional judgement and scepticism.

• Ability to lead teams and manage multiple audit workstreams.

Minimum Requirements

• CA(SA) or equivalent qualification.

• Relevant insurance audit experience, including exposure to life and/or non-life insurance engagements.

• Demonstrated experience in an IFRS 17 reporting and audit environment.

• Proven experience managing audit workstreams and leading audit teams.

• Strong project management experience, including managing multiple deliverables, stakeholders and competing deadlines.

Manager Expectations

• Drives execution with increasing leadership responsibility across audit workstreams.

• Supports engagement leadership while managing delivery, coordination and day-to-day execution.

• Builds technical depth in IFRS 17 and insurance audit while developing broader client and team leadership capability.

• Responsible for managing engagement teams and delivering high-quality audit outcomes.