AVP – Internal Audit

JOB SUMMARY

This position (AVP - Internal Audit) is responsible for designing risk-based internal audit plan and strategically managing the internal audit function in accordance with internal audit charter and the professional standards for internal auditing.

This role shall be primarily responsible for providing reasonable assurance on the effectiveness of the organization’s risk management and the strength of internal controls. The position assesses organization-wide compliance of internal policies and procedures, laws and regulations, efficiency of operations, and accuracy of programmatic and regulatory reporting/compliance and also contribute in overall control posture of an organization.

KEY RESPONSIBILITIES

Perform organization wide risk assessment and develop annual risk-based internal audit plan for approval from Audit Committee (AC).
Identify new themes which can be added as part of proposed Internal Audit (IA) plan and provide highlights of previous year.
Provide technical assistance and subject-matter expertise to team members in designing risk universe at process level and identify new risk areas to ensure quality of reviews and effective reporting of observations.
Manage the audit to ensure that overall audit is performed in accordance to the steps as defined in Internal Audit manual including methodical documentation of work plans, testing results, conclusions and recommendations.
Lead audit closure meetings with process owners and provide update / reporting exceptions to functional SLTs.
Provide practical recommendations for process improvement in order to mitigate associated risks, to ensure compliance, adequacy and reliability of internal controls & procedures.
Ensure follow up on findings and corrective actions and assist process owners in practical implementation of recommendation to improve operational efficiencies and overall control posture for the organization.
Coordinate and assist with the preparation of Audit Committee and management committee meeting (e.g. ORG, MRC etc.) materials.
Responsible for coaching, mentoring, and developing career paths for direct reports.
Responsible for managing multiple priorities, deadlines and quality deliverables and participate in cross functional teams (CFTs) and make notable contribution for overall success of the Project.
Prepare plan for concurrent audit and testing various functionalities through automation and provide periodic dashboard to the management for all automation projects.
Responsible for preparing plan for improvising the overall efficiency of Internal Audit team by deploying different measures like automation etc.
Manage the work of Service provider’s / business partners on various outsourced projects / audits to ensure timely closure with quality outcome.
Satisfactory completion of Quality Assurance Improvement Program and Peer review for the audits performed by the team in accordance to IIA (Institute of Internal Auditors)

MEASURES OF SUCCESS

Correct identification of the key risk areas and timely approval by the Audit Committee (AC) of the IA plan
Ensure documentation in accordance with the defined audit methodology
Managing team and successful delivery of internal audit plan within defined timelines
Lead audit closure meetings and exception reporting to functional leaders / SLTs.
Ensure results of other external audits is consistent with the work performed by Internal Audit team with minimum material differences to safeguard reputational risk of the organization (penalties etc.).
Continuous improvement in employee engagement score for the team
Identify opportunities and increasing efficiency of Internal Audit team as a whole.

KEY RELATIONSHIPS (INTERNAL /EXTERNAL)

Senior Management (Functional leaders / SLTs) including CRO / CCO
Cross functional teams
Process Owners
Outsourced Vendors
Team members including specialized staff (7-8 team members)

KEY COMPETENCIES/SKILLS REQUIRED

Collaboration and Stakeholder Management
Team Management and development
Coaching new joiners and existing team members and making them ‘future ready’
Strategic and Analytical mindset
Problem solving ability
Willing to take multiple priorities (multi-tasking)
Growth Mindset

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