Function Head - Internal Audit - CA - Automotive

Job Title : Function Head - Internal Audit

Job Code : Int.Audit- Function Head

Department/Unit : Internal Audit

Location : Padi

Reporting to Executive Director ( O&F)

Direct Reportees : Team Members - Internal audit

Purpose :

- Serves as the organization's chief audit executive and as a member of the executive management team. Performs advanced level professional internal auditing work as a key component of the corporate governance structure.

- Work involves directing a comprehensive audit program including performance, financial and compliance audit projects.

Scope : All Locations of the Company and also the Dedicated Units

Roles & Responsibilities :

Functional :

- Sets objectives for the department based on the medium term objectives and monitors the same at regular intervals.

- Guides audit staff in the planning, organizing, directing and monitoring of Internal Audit operations, including assisting in training and evaluating staff; and taking corrective actions to address performance problems.

- Directs the identification and evaluation of the organization's risk areas and oversees the development of the annual Audit Plan.

- Interacts with team and prepares annual plan for internal audit activities to meet set objectives.

- Discusses with statutory auditors about the annual audit plan and gets approval from Audit committee.

- Develops audit plan for individual auditors and assigns the task to them to meet requirements.

- Sends communication on the annual audit plan to all concerned auditees as per procedure and to ensure the presence of concerned individual during auditing.

- Develops the audit procedures, including identifying and defining issues, developing criteria, reviewing and analyzing evidence, and documenting the processes and procedures to meet requirements.

- Reviews and verifies the audit reports submitted by team members at regular intervals.

- Consolidates the audit reports and presents to management on monthly basis.

- Verifies and send reports to audit committee on the corrective actions taken for the major deviation areas/points.

- Coordinates with external auditors for internal auditing of regions/warehouses and to ensure the same are carried out as per plan.

- Represents internal audit at management meetings and with external organizations.

Budgeting :

- Prepares annual budget (manpower, capex and revenue) for the internal audit section and forwards to director in charge for review.

Cost Management :

- Monitors and controls operating budget for the Internal audit Department (Revenue and Capital Budget).

Management Reporting :

- Communicates the results of audits via written reports and oral presentations to management and the Board of Directors.

People Responsibilities :

- Provides professional guidance to the audit team in the identification, development and documentation of audit issues and recommendations.

- Pursues professional development opportunities, including internal and external training and professional association memberships, and shares information gained with audit team.

- Recommends or nominates the team members for training programmes to enhance their knowledge and skill.

- Recruits and supports HR in acquiring right talent for the section.

Key Result Areas & Measures of Performance :

Internal Audits :

Unit :

- No.of Internal Audits - Plan vs actual

- No.of observations raised

- No.of audit points closed

People Development : Training hours/ employee

Authority :

- Have rights to access all Relevant records for the Review

- Leave sanctioning for subordinates

- Performance appraisal rating

- Purchase Order release

. Work Contacts

Internal :

Stakeholder & Purpose of the Interaction :

Unit/ Departments /Regions and locations : Internal audit related activities

Finance : Sanctions, Auditing, Expense analysis, Budget

P&HR : Training, Time office, Performance Appraisal, Welfare

Information System : System related activities

External :

Stakeholder & Purpose of the Interaction :

- Statutory Auditors Audit related activities

Competencies Required :

- Proficiency of auditing and reporting

- Product /Process Knowledge

- Analytical Skills

- Computer Operations(MS Office, SAP)

- Presentation Skills

- Interpersonal relationship

Communication skills - oral and written

- Managerial skills

- Perseverance Skills

- Planning and Organizing Skills

Background and Experience :

Educational Qualification : CA

Experience : 12 - 15 years of work experience in internal auditing function.