Internal Auditor – Life Insurance

Internal Auditor Detailed Job Description Third Party Administrator Audit & Oversight

• Audit third party administrators responsible for insurance policy administration and claims processing
• Validate the accuracy of policyholder balances, cash values, surrender values, claims calculations, benefit payments, and related financial transactions
• Review systems, data, and operational processes to ensure products are administered in accordance with contractual requirements and product specifications
• Develop and execute risk based audit plans, including defining scope, testing methodologies, and documenting findings
• Identify control weaknesses, operational risks, and process deficiencies that could impact customer outcomes
• Work collaboratively with internal teams and external service providers to resolve audit findings and support remediation activities
• Participate in ongoing oversight and due diligence of outsourced operations

• Support internal audit activities across the organization
• Assist with regulatory compliance and audit documentation
• Prepare audit reports and supporting documentation for governance committees
• Document key operational processes and evaluate the effectiveness of internal controls
• Contribute to continuous improvement initiatives across audit, risk, and operational functions

• 4 to 7+ years of experience within the life, health, or annuity insurance industry
• Experience in internal audit, actuarial, risk, operations, or a related analytical role
• Strong understanding of insurance products, policy administration, and claims processing
• Knowledge of cash values, policyholder balances, benefit calculations, and financial controls
• Experience developing and executing audit plans, including testing, documentation, and reporting
• Ability to identify operational risks, control weaknesses, and process improvements
• Experience working with data analysis tools such as SQL or similar technologies
• Interest in using data analytics and AI to support audit and risk assessment
• Strong analytical, investigative, and problem solving skills
• Excellent communication skills with the ability to present findings to senior stakeholders