Internal Auditor

About Discovery

Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.

About Discovery Insure

Discovery Insure is committed to creating a nation of great drivers through our innovative Shared-value Insurance model. Discovery Insure is South Africa’s fastest growing short-term insurance company with comprehensive products that provide protection against current and emerging risks facing clients in the motor and home insurance sectors. Vitality Drive, an internationally-recognised and award-winning programme, is a key differentiator in the market that incentivises and rewards clients for driving well. The Vitality Drive programme has been scaled to local and international markets which now include Europe and the Middle East. The company employs over 1 000 people who are committed to putting our customers and financial advisers first by providing unique and innovative solutions and cover.

Key Purpose

This role focuses on identifying and reducing risk within the organisation by applying expertise in claims assessment and assurance practices. The individual will audit and analyse management-provided data to monitor high-risk areas, supporting the organisation’s efforts to safeguard financial integrity and uphold robust internal controls. Success in this role requires strong analytical skills, a sharp eye for detail, and the ability to communicate effectively in a fast-paced, high-accountability environment.

Areas of responsibility may include but are not limited to

Risk Monitoring & Detection:

• Analyse daily dashboards that flag claims and/or high-risk areas within the business, particularly those related to historical fraud cases and potential emerging threats.
• Maintain an ongoing risk assessment framework to identify vulnerabilities and strengthen controls.

Data Auditing & Analysis:

• Review and audit data sets provided by management, ensuring that each dataset is addressed in alignment with the associated business function (e.g., finance refunds, claims, servicing, etc.).
• Apply tailored auditing techniques based on the nature and complexity of the data sets under review.

Reporting & Feedback Loops:

• Provide regular updates and feedback to management regarding identified high-risk areas, ensuring that the appropriate level of urgency and sensitivity is applied.
• Communicate findings clearly and concisely to support decision-making and risk mitigation strategies.

Collaboration & Professionalism:

• Uphold a high level of integrity, confidentiality, and professionalism, given the sensitive nature of fraud risk assessment.
• Ensure consistent and structured communication with management to relay critical findings, escalate concerns where necessary, and provide comprehensive feedback on completed audits.

Ad-Hoc Investigations & Compliance Reviews:

• Address ad-hoc audit requests from management in a timely and efficient manner, ensuring that flagged concerns are thoroughly investigated and documented.
• Maintain accuracy and diligence in reporting findings to facilitate appropriate action where necessary.

Data Tracking & Workload Management:

• Maintain meticulous records of audited data sets, flagged concerns, and workload distribution to ensure structured reporting and traceability.
• Follow the systematic approach created to track case progress, ensuring that all flagged concerns are resolved appropriately.

Operational Agility & Urgency:

• Operate with a sense of urgency, given the dynamic nature of Internal fraud risks and the necessity for swift intervention.
• Prioritise workload effectively to balance routine monitoring with ad-hoc investigative tasks.

Continuous Learning & Development:

• Stay up to date with and relevant CPD (continuous professional development or learning programmes) that enhance data literacy and proficiency in handling intricate data sets.

Knowledge and Skills

• Experience in detection of and investigation into internal fraud in a short-term insurance environment – Essential
• Knowledge of claims operating standards and procedures as well as knowledge of the laws and rules that govern the STI industry – Essential.
• Ability to manipulate large amounts of data to compile detailed reports – Advance Excel skills – Essential.
• Strong analytical skills with the ability to interpret complex datasets and identify fraud indicators – Essential.
• High attention to detail with the ability to detect anomalies and discrepancies in financial transactions – Essential.
• Familiarity with data analysis tools and techniques to enhance fraud detection capabilities – Advantageous
• Understanding of risk assessment methodologies and the ability to recommend control enhancements – Advantageous

Education and Experience

Education:

• Matric
• Completed or studying towards a tertiary qualification in business / finance / fraud detection.
• CFE – Advantageous
• CIA – Advantageous
• Undergrad : BA Forensic Science & Technology – Advantageous
• BA Honours in Forensic science & technology – Advantageous
• Commercial forensic accounting (certificate Institute of commercial forensic practitioners).

Minimum Experience:

• 2-3 years’ experience as a Fraud Investigator / Financial Crimes Investigator – Essential
• 1-2 years’ experience in the financial services industry – with at least 2 years in Short Term Insurance Claims environment – Advantageous
• Internal Audit experience – Advantageous
• Knowledge of Discovery Insure products – Advantageous