Pakistan Reinsurance Company Limited (PRCL), the country’s leading reinsurance organization working under the Government of Pakistan, has opened applications for the prestigious position of Chief Internal Auditor. This announcement presents a golden opportunity for experienced and qualified professionals to take on a leadership role in ensuring financial transparency, compliance, and internal accountability in one of Pakistan’s most critical financial institutions.
About PRCL
PRCL, operating under the administrative control of the Ministry of Commerce, is a public sector organization responsible for providing reinsurance support to the local insurance industry. PRCL plays a pivotal role in strengthening Pakistan’s insurance sector by minimizing reliance on foreign reinsurers, retaining premium within the country, and stabilizing the financial health of insurers.
Position Overview: Chief Internal Auditor
The position of Chief Internal Auditor is a senior management role that demands a high level of integrity, professionalism, and expertise. The role involves establishing an independent and objective internal audit function that evaluates and improves the effectiveness of risk management, control, and governance processes within PRCL.
Required Educational Qualifications
Applicants must possess one or more of the following professional qualifications from a Higher Education Commission (HEC)-recognized institute:
- MBA (Finance)
- ACCA
- ACMA
- CPA
- CA (Chartered Accountant)
Additionally, candidates should have:
- At least 10 years of relevant post-qualification experience, preferably in large financial institutions, insurance companies, or state-owned enterprises (SOEs).
- Proven experience in internal auditing, compliance with IFRS 17, and familiarity with PPRA rules.
- A strong grasp of modern audit tools, ERP systems, and performance management frameworks.
Key Skills & Professional Expertise Required
To excel in this role, candidates must demonstrate:
- The individual possesses strong analytical skills, which include the ability to interpret financial data, identify inconsistencies, and suggest corrective actions.
- The understanding of IFRS 17 is crucial for auditing financial reporting related to insurance contracts.
- Experience in Public Sector Financial Management: Understanding of PFM systems, budgeting, and procurement processes.
- Leadership & Team Management: Ability to lead audit teams, conduct performance evaluations, and ensure delivery of accurate reports.
- Report Writing & Presentation: Proficiency in writing clear, concise audit reports and presenting findings to top management and regulatory authorities.
- PPRA Rules Expertise: Hands-on knowledge of procurement rules to ensure compliance in tendering and purchasing procedures.
- ERP & Technology Acumen: Experience with enterprise resource planning tools used for financial and administrative processes.
Job Responsibilities
- Designing and implementing the internal audit strategy of PRCL.
- Ensuring the audit plan aligns with organizational goals and risk priorities.
- Evaluating the efficiency and effectiveness of internal controls and suggesting improvements.
- Leading audits of financial statements, operational procedures, and compliance matters.
- Monitoring regulatory compliance and internal policy adherence.
- Coordinating with external auditors and the Board Audit Committee.
- Preparing and presenting comprehensive audit reports.
- Ensuring fraud prevention, detection, and investigation procedures are in place.
Eligibility Criteria
- The advertisement’s closing date sets a maximum age limit of 57 years for applicants.
- Experience: Preference will be given to candidates with public sector audit experience, especially within SOEs.
Application Instructions
Interested candidates must apply online only. No physical applications will be entertained. Here’s how to apply:
- Visit the official websites:
- Submit a comprehensive CV, recent photograph, CNIC, and all relevant documents through the portal.
- The deadline for applications is 15 days from the publication of the advertisement.
Important Notes & General Instructions
- Government Employees:
Government servants must apply through the proper channel and submit a No Objection Certificate (NOC) from their respective departments. - No TA/DA:
No travel or daily allowance will be provided for interviews or tests. - Incomplete Applications:
Applications that are incomplete or late will not be considered. - HEC Verification:
Degrees obtained from foreign universities must be recognized and verified by HEC. - Contractual Basis:
The appointment will be a contractual one, renewable based on performance and organizational needs. - Disqualification:
Candidates who try to influence the recruitment process or submit false information will be disqualified.
Why Join PRCL?
Joining PRCL as a Chief Internal Auditor places you in a position of authority where your decisions will shape the financial future of a national institution. Some key benefits of this role include:
- Opportunity to work with Pakistan’s top-tier financial leaders.
- Direct impact on national insurance and reinsurance policies.
- Exposure to international best practices in internal audit and compliance.
- The company offers a highly competitive remuneration package that can be negotiated based on experience.
- A dynamic and intellectually stimulating work environment.
Conclusion
This opening for the Chief Internal Auditor at PRCL represents an exceptional opportunity for seasoned finance and audit professionals looking to take on a national leadership role. With responsibilities that blend strategic planning, operational evaluation, compliance oversight, and team leadership, this role is best suited for candidates who want to make a lasting impact on the governance and performance of a major public sector enterprise.
The position not only offers professional growth but also the chance to contribute meaningfully to national development. Don’t miss this opportunity to become a part of Pakistan’s premier reinsurance company—apply today through the official HRSI or PRCL career portals.