Job Description
- Experience required: Minimum 17 years of work experience
- Educational Qualification :Include Additional Certification if any Chartered Accountant or Graduate with full time MBA in Finance
1)Develop Internal Audit Strategy & Guidelines:
- Formulate scope of the Internal audits including implementation reviews and testing of controls, in-line with the prevalent practices, internal / external requirements and advise of the local management and approval of Audit committee.
- Get the Internal auditing firm appointed following the approved selection process and approval from Audit committee and Board of directors.
- Prepare & circulate the annual internal audit schedule based upon the approved scope of audit.
- Deploy the appointed internal auditing agency and ensure the conduct of audits as per annual schedule.
2) Performance and conduct of audits:
- Ensure all audits covered in the annual schedule are taken up as per planned dates.
- Organise opening meetings for each of the audits between the Auditor and Auditee functions acting as a facilitator providing all needful support.
- Oversee, coordinate and facilitate the ongoing audit activity to ensure that all audits are completed as per plan.
- Ensure timely availability of inputs requested by the auditors from the respective process owners.
- Ensure issue of timely Audit reports by the Internal auditing firm, their basic quality and adequacy and action plans from the relevant process owners for implementing the recommendations.
- In case of any significant conflicts / disagreements undertake needful Intervention, mediation and direction to ensure completion of audit(s).
- Review audit reports before putting up to management and the audit committee.
- Organise presentations of the Audit reports to the Local management and ensure that comments / advice, if any, from the management are incorporated.
- Put-up agenda for submitting the audit reports to the Audit committee meeting ensure that the findings are presented to the audit committee by the internal auditing firm.
- Taking – up any other special audits as desired by the Management.
3) Internal Financial controls (IFC) :
- Ensure that testing of controls is conducted by the appointed external expert agency as per approved scope of work.
- Ensure action plans from the relevant process owners for addressing control deficiencies, if any.
- Ensure updation and issue of Risk Assessment Control Matrices (RACMs) by the agency.
- Review the IFC update reports before putting up to management and the audit committee.
- Organise presentations of the IFC update reports to the Local management and ensure that comments / advice, if any, from the management are incorporated.
- Submit IFC update to Audit committee via appropriate agenda and ensure that the findings are presented at the audit committee meeting by the agency.
4) Action taken reports (ATR) :
- To function as a nodal point for the ATR (Action Taken reports) pertinent to Audit committee meetings of MGL board.
- Prepare the ATR capturing the actions advised by the Audit committee as per the minutes of the Audit committee meetings.
- Circulate the ATR amongst all process owners and obtain their action plans along with timelines for undertaking the actions.
- Present the ATR to local management and incorporate their comments / advice, if any.
- Put-up the ATR agenda to the Audit committee and present the ATR during the meeting explaining all actions, as necessary.
5) People :
- Coordinate with HR department to ensure Internal audit department is adequately staffed as per the approved manpower requirements
- Own and develop high potential talent and create a talent pipeline for the department.
- Ensure high level of employee engagement and retention of critical employees.
Company Profile:
Salary: Not disclosed
Industry: Accounting / Finance
Functional Area:
Role Category: Others
Employment Type: Full time
Keyskills
