Internal Audit - CA - BFSI/Consulting

Job Description :

Job Purpose :

(To contribute to the risk environment of LTFS entities by providing inputs into the annual risk assessment in line with Auditing Standards and local regulatory requirements. Ensure adequate coverage of risks by timely implementation of audit plan and effective follow up of audit recommendation for closure.

Principal Accountabilities :

Planning :

- Ensure identification and collation of key data points and parameters for Providing Key inputs on risk pertaining to the functional lines for development Audit Plan and timing / scoping of audits.

- On going monitoring of engagement level budgets

- Update/ upgrade existing audit methodologies/ test plans and documentation standards. Design Audit analytics.

- Finalised detailed scope and checklist to be used on individual assignments

Execution :

- Evaluate the adequacy of internal control designed to achieve the business objective at business / functional level. Identify design weaknesses and any non-compliance for reporting as discussion points with auditee.

- Assist in selection of appropriate co-sourced firm for the assignment.

- Management and quality of the deliverables of co-sourced firms for the audit assignment and ensure adherence to IAG working standards.

- Enhancement of Internal Audit working standards

- Management and quality of the deliverables of co-sourced firms for the audit assignment.

- Work closely for finalisation of Audit findings, contribute actively to framing of Audit Report and Recommendations and be an active member during de-briefings with auditee.

- Review final working papers to ensure completeness of tests performed and effective identification of areas of weaknesses

- Design testing plans to validate effective closure of management action plans

- Finalize draft observations sheet.

- Ensure draft audit reports effectively reflects audit findings, risk and identifies relevant recommendation for mitigation

Communication :

- Finalize observations with departmental heads/ auditee

- Review and finalize management responses and management action plan to ensure adequate risk mitigation.

- Monitoring of timely follow-up on implementation of management action plan and identify escalations for potential delays in implementation.

- Ongoing communication with the co-sourced firms on progress and quality of audits.

- Providing regular updates on status of audit progress and budgets to the next level.

- Support for Internal Audit Committee and other functional reporting presentations for sections within his perimeter.

People development :

- Assist in training & developing people with respect to methodologies and working practices, regulatory updates, industry developments

- Maintain professional certification(s) and continue to develop and expand knowledge of the audit profession, information systems,regulatory issuance's, industry, and Company products and information through self-study, research, and continuing education efforts.

Infrastructure :

- Drive implementation of IA tools and sofware.

Dimensions :

Financial Dimensions :

-Track assignment hours and budgets

Other Dimensions :

- Manage 2 to 3 co-sourced firms and manage teams of sizes 4 to 5

Skills And Knowledge :

Educational qualifications and work experience :

- 6-7 years experience in a large scale audit firm/ corporate with exposure either in Internal Audit or in Sarbanes Oxley regulations with desirable professional qualifications.

- Post Graduate in any of the streams with 8 to 10 years experience in Audit/ Risk / or other related businesses.

Desirable : Chartered Accountant (CA)

Core Competencies:

- Ability to adapt to changes.

- Innovative

- Analytical skills

- Communication and negotiation skills

- Ability to withstand pressure and stand firm .

- High standard of ethics and ability to stay neutral and unbiased

- Ability to multi-task across a variety of projects requiring differing competencies.

Role Competencies :

- Working knowledge of risk-based mapping of processes.

- Awareness of Operational Risks OR Sarbanes Oxley Integrated Audit

- Good knowledge of regulations applicable to financial services.

- Lead interviews with auditee across any level of Management.

- Good command over verbal and written English

- Expert knowledge of working tools ( MS Office)

- Working knowledge of PowerPoint.

Any other requirement:

- The incumbent must be willing to travel within the country.