Senior Audit Manager – Insurance Audit (IFRS 17 Focus)

Purpose of the Role

To lead and oversee complex audit engagements within the Financial Services Insurance portfolio, with accountability for client relationships, engagement delivery, audit quality and risk management. The role focuses on life and non-life insurance entities, ensuring compliance with IFRS 17, International Standards on Auditing and internal audit methodology, while driving exceptional client service and engagement performance.

Key Responsibilities

Audit Delivery & IFRS 17

• Lead complex insurance audit engagements and provide strategic direction across multiple workstreams.

• Oversee audit procedures relating to:

o Insurance contract liabilities (LRC / LIC)

o IFRS 17 measurement models (GMM / PAA)

o IBNR / actuarial reserves

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

• Lead engagement teams in resolving complex technical accounting and audit matters.

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

Project Management & Engagement Leadership

• Demonstrate exceptional project management capability, including:

o Oversight of multiple audit engagements and workstreams

o Managing engagement budgets, resources and timelines

o Proactively identifying and mitigating engagement risks

o Driving successful delivery against key milestones

• Maintain accountability for overall engagement execution and delivery.

• Lead stakeholder management across clients, leadership teams and engagement teams.

Client Service Excellence

• Own and lead client relationships across key insurance engagements.

• Act as a trusted advisor to senior client stakeholders.

• Build long-term client relationships through:

o Strategic engagement

o Proactive issue resolution

o Technical insight and guidance

• Lead stakeholder discussions and manage escalations where required.

Quality & Risk Management

• Maintain overall accountability for audit quality and compliance.

• Ensure adherence to:

o International Standards on Auditing (ISA)

o Internal Audit Methodology

o Regulatory and professional standards

• Ensure all engagements are inspection-ready.

• Lead engagement quality reviews and risk assessments.

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

Team Leadership & Development

• Lead managers, audit teams and workstreams across multiple engagements.

• Set expectations for:

o Accountability

o Technical excellence

o Quality of deliverables

o Timely execution

• Coach and mentor managers and future leaders within the practice.

• Build and develop high-performing teams.

Business Leadership

• Support the growth and development of the insurance audit practice.

• Contribute to business development initiatives and client retention strategies.

• Support the identification of new opportunities within existing client portfolios.

Key Skills & Competencies

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

• Exceptional project management and engagement leadership skills.

• Strong commercial awareness and business acumen.

• Excellent communication and executive stakeholder management skills.

• Strong analytical and problem-solving capability.

• High level of professional judgement and scepticism.

• Ability to manage complex engagements and competing priorities.

Minimum Requirements

• CA(SA) or equivalent qualification.

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

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

• Proven experience leading large audit engagements and managing multiple workstreams.

• Strong client relationship management experience.

• Demonstrated experience leading managers and large audit teams.

• Exceptional project management capability with responsibility for engagement planning, delivery, resource management and stakeholder coordination.

Senior Manager Expectations

• Owns end-to-end engagement delivery and leads the overall client relationship.

• Accountable for:

o Client relationships

o Overall delivery

o Quality and risk management

• Expected to lead:

o Audit strategy

o Complex technical judgements

o Stakeholder escalation

• Acts as a senior leader within the practice and drives engagement performance, client satisfaction and team development.