Internal Auditor – Insurance Fronting Carrier

Sutton National Insurance Company

47d•Onsite

About The Position

Sutton National Group, a rapidly growing national property and casualty insurance carrier group, seeks an Internal Auditor to support the overall responsibilities of maintaining Sutton’s cash and accounting ledgers. Under general supervision, this role will provide support to the Director of Internal Audit by performing financial, operational, compliance, and information systems audits to ensure that Sutton National maintains an effective system of internal controls, risk management, and governance processes appropriate for a rapidly growing insurance fronting and program carrier platform. This role will support audits across underwriting, delegated authority arrangements, reinsurance operations, financial reporting, third-party administrators (“TPAs”), managing general agents (“MGAs”), compliance, and corporate functions, with a strong emphasis on regulatory compliance, Model Audit Rule (“MAR”) / SOX-like internal control environments, and enterprise risk management. The Internal Auditor will help ensure compliance with insurance regulatory requirements, support the Company’s Section 16 MAR compliance program, and evaluate the effectiveness of controls over financial reporting and operational processes within a complex fronting carrier environment.

Requirements

Strong understanding of internal audit theory, internal control frameworks (COSO), risk assessment methodologies, and insurance regulatory environments.
Experience with Model Audit Rule (“MAR”) compliance programs, including ICFR testing, walkthroughs, control documentation, deficiency evaluation, and audit support activities strongly preferred.
Understanding of fronting carrier operations, delegated authority arrangements, MGA oversight, reinsurance structures, and third-party service provider risk management.
Knowledge of statutory accounting principles (“SAP”), insurance financial reporting, and operational risks specific to property & casualty insurance companies.
Familiarity with NAIC regulatory requirements, insurance compliance frameworks, and audit expectations applicable to insurance carriers.
Knowledge of information systems auditing standards, cybersecurity controls, and data governance practices.
Ability to define problem areas, analyze data and situations, draw evidence-based conclusions, and recommend practical solutions.
Ability to prepare clear, concise, and well-supported audit work papers, observations, and reports.
Ability to establish and maintain collaborative relationships with management, external auditors, consultants, regulators, and team members.
Strong analytical, organizational, and communication skills.
Ability to work independently and manage multiple priorities in a fast-paced environment.
Strong proficiency in Excel, audit analytics tools, and other business reporting systems.
Bachelor’s degree in Accounting, Finance, Information Systems, or related field.
3–7+ years of internal audit, external audit, regulatory compliance, or insurance operational audit experience.

Nice To Haves

Understanding of investment management processes and banking/cash management controls within insurance operations is a plus.
Experience within a property & casualty insurance carrier, MGA/program carrier, fronting carrier, public accounting firm, or insurance consulting environment preferred.
Professional certifications such as CPA, CIA, CISA, or progress toward certification preferred.

Responsibilities

Plan, organize, conduct, and direct complex audits of financial, operational, compliance, delegated authority, reinsurance, and information systems functions.
Perform audits in compliance with the Standards for the Professional Practice of Internal Auditing issued by the Institute of Internal Auditors, Model Audit Rule requirements, and Sutton National Internal Audit policies and procedures.
Assist in evaluating and testing Internal Controls over Financial Reporting (“ICFR”) in support of the Company’s MAR compliance framework and Section 16 reporting requirements.
Conduct audits of underwriting programs, MGA relationships, TPAs, reinsurance operations, claims administration, and other outsourced or delegated functions relevant to a fronting carrier environment.
Evaluate controls surrounding premium bordereaux, collateral management, funds held arrangements, claims handling, reinsurance reporting, and delegated authority oversight.
Assess compliance with insurance regulatory requirements, contractual obligations, and internal policies across program business operations.
Assist the Director of Internal Audit in implementing the strategic Internal Audit plan, including development of the annual audit plan and enterprise risk assessment.
Assist with review of Internal Audit work papers, drafting audit reports, and finalizing audit observations and recommendations.
Present written audit reports with practical recommendations and follow up on remediation efforts and management action plans.
Partner with management to promote a strong culture of internal control awareness, accountability, and continuous improvement throughout the organization.
Verify and analyze transactions, management representations, reports, operational data, financial records, and system outputs for adequacy, effectiveness, accuracy, and compliance.
Evaluate information technology controls, cybersecurity-related controls, and data integrity within financial and operational systems.
Identify opportunities to improve operational efficiency, automation, governance, and risk mitigation processes.
Maintain positive and professional working relationships with employees, management, regulators, external auditors, and third-party partners.
Perform other specialized duties related to Internal Audit operations and enterprise risk management.