The vital, and evolving, role of Internal Audit at NFU Mutual.

Waseem Ahmed is Group Head of Internal Audit and a champion of continuous improvement. We recently spent time with him to understand his philosophy and ambitions for Internal Audit at NFU Mutual – an ever-evolving function that is hugely benefitting people, processes and productivity.

You’ve been at NFU Mutual for three years. How are you finding it?
I think from day one I completely bought into three things that still remain true. Firstly, the values of NFU Mutual. They align with mine and I think the mutual model is something I’m very supportive and proud of. Secondly, the backing we get in Internal Audit from our Board and Chief Executive, Nick Turner. Nick is so focused on doing things the right way and I feel fortunate to be in this position with a leader with such ambition. Thirdly, the people. The respect across functions and within my team is like nowhere else. We’re all pointing in the same direction. It’s exciting and it’s a great time to be here.

What do you see as the main difference between your previous roles and NFU Mutual?
Well, I’ve spent 24 years in four different businesses before joining the Mutual and it’s interesting to reflect on the similarities and differences. And learn from both. I started as a graduate at KPMG straight from university and through a Chartered Accountancy training programme, I started to develop the skills of finance. I gained knowledge of many aspects of accountancy, but after five years, I took a post at Zurich working in the life and banking division. My next move was to a company called Computershare where I stepped up into a management role and then into a leadership position.

After 10 years, several promotions, and a lot of learning – both in the technical and softer skills - I moved to Wesleyan Financial Services, a mutual. This was a shift in my attitude towards what work really represented. And the mutual model appealed. From there, I moved to NFU Mutual, and the rest is history.

What’s your vision for Internal Audit?
I’m determined to create an open-door culture where functions across NFU Mutual see us as a destination for problem-solving and continuous improvement. In our team, we co-create the 12-month strategy and a plan of audits that will happen over the course of the year. As a function, we can accelerate and improve the NFU Mutual model through consultancy and education.

No other function in the business has this opportunity to help transform and protect our systems and services like we can. My vision is to raise awareness across NFU Mutual of our skills and services and encourage teams to see us as risk and control experts. And to do this, we need people to come and talk to us. Even if they think the problem is small, we can always help.

We use our training and experience to guide our colleagues through the challenges they’re facing and help work through their options so they can make informed decisions that best suits their needs.

Could you tell us a bit about your team?
They’re brilliant, every single one of them. They all play a vital role in solving complex challenges and assessing the controls that mitigate risk across the business. I think the key thing for me about the team is the breadth of experience and skills. Our structure is based on a pool of flexible talent. This means that for any given task we can assign the right team. We’ve got a huge range of talented people, from graduates to experienced IT and accountancy experts, who all bring a broad range of skills to the table.

Are different functions open to ‘the Auditors’ coming in?
Looking back to my time in external audit, I think that cultural view still existed within the companies we audited. Those audits were, on the whole, retrospective analyses of business operations and accounts. Whereas internal audit is a completely different offering; we’re very proactive and look to ‘improve’, not just ‘monitor’. This distinction is understood throughout NFU Mutual, so I think our journey to becoming the destination for continuous improvement is well under way.

What makes Internal Audit a great place to work?
Fundamentally, Internal Audit is massively exciting! Every day we get to use the creative sides of our brain to solve some huge business challenges. And no two days are the same. We get to work with every function across the business and we get to engage at the highest level. It’s a great place to work because, just like the rest of NFU Mutual, development of our people is the highest priority. We have the freedom to set our own learning path and find training programmes and courses that help us in our career. As I’ve mentioned it’s a great team, built on trust and respect. And Internal Audit has always proven to be a great platform for promotion. We often find that the skills we have can be used elsewhere across the business, and I will always help people to find their path.

Is data playing a more active role in the way you and your team operate?
Absolutely. Whilst our core area of expertise is within the risk and control space, we are leveraging the skills of data and IT to analyse the processes we work with across NFU Mutual. But also, to see those patterns that represent gaps and opportunities for positive change. Internal Audit is a great blend of data, technology, and human creativity. How excited are you about the future of Internal Audit? The more we’re seen as a destination for problem-solving as much as we are for assurance through audit, the greater we can become. I love to see my function grow and help people from all backgrounds to develop great futures. With the integration of new technologies and AI, I think this represents the most exciting time to be part of that journey. And I’m incredibly proud and honoured to be leading the way with a fantastic team around me.