Job Title / Designation : AVP - Internal Audit Grade : M3 Department : Risk Management Group Sub Department : Internal Audit Cost Centre Reports to (Immediate Superior) : Vice President - Internal Audit Works With : All departments - across Company Job Objectives : - Appraise Key Process Owners in Audit Areas &amp; Issues Conduct meetings with key process owners for timely update of key audit observations - Ensure timely conduct of Audits as per Annual Audit Calendar Timely conduct of audits as per the Annual Audit Calendar - Ensure Adherence to Audit coverage as per scope Adherence to Audit coverage versus scope (as finalized by the Audit Committee) - Ensure timely preparation of Audit Report and discussions - Timely preparation of Quality Audit Report and ensure follow-up discussions for closure - Support in the execution of identified Special Assignments Support in various identified Special Assignments - Ensure Performance Driven Culture Adherence to Performance Management system timelines and guidelines - Support Employee Capability Building % Key positions in the function with identified Team Leads - Employee engagement and retention Employee Satisfaction Score of employees in function - Effective coordination with Outsourced CA Firm Ensure timely closure of audit reports issued by Outsourced CA Firm Job Description : 1. Financials/Output related activities (Income/Expenses/Profit) (e.g:Gross written premium, Top line, Combined ratio, cost of acquisition, loss ratio, management expenses etc) - Oversee the conduct of independent and comprehensive audits as per the Annual Audit Plan through the appropriate use of audit tools and procedures - Ensure conduct of follow-up of issues as per the direction of the Audit Committee/ Management - Guide the team members by providing direction and support with respect to various complex audit issues - Finalize audit reports and appraise top management of audit findings and risk assessment analysis - Factual reporting to the Board of Directors and the Management on areas reviewed as part of the audit calendar . - Ensure Action is taken for inconsistencies observed and reporting on Action Taken Status. - Draw critical inferences from audit reviews and make that available for management assurance - Effective coordination with Outsourced CA Firm and ensure timely closure of audit reports post discussion with Auditee Departments 2. Customer/Product/Market related activities (Internal / External) (e.g. Satisfaction, Acquisition, Retention, Cross-sell/Share-of-wallet, Relationship, Service, Product/Solutions) - Collaborate constructively with Auditee departments - Review and report audit findings to local, regional and senior management; Lead interactions with internal stakeholders for speedy resolution of identified issues 3. Process/Technical related activities (productivity, efficiency, process, quality etc.) (e.g. Risk, Controls, Compliance, Audit, Productivity, Quality, Discipline, Change Management, Adaptability, Success Transfer) - Ensure observance to company processes in Reporting - Analyze, review and report on efficacy of existing risk controls in established processes and suggest practical improvements in the same (manual and system oriented) - Suggest Industry best practices - Review Company wide compliance program and provide assurance to the Board Of Directors and the Management of the Company 4. People/Leadership/Teamwork/Corporate Citizenship related activities (e.g. Collaboration/Team work, Knowledge sharing, Development (Self &amp; Team), Sharing Resources/Helping others) - Provide direction, guidance and support to functional employees to help them discharge their duties effectively - Monitor the performance of the team on a continuous basis to identify key performers - Mentor and coach subordinates to develop the team's capabilities - Impart Training and sharing knowledge with team. - Develop direct reports for assuming greater responsibilities. Qualifications : Professional Qualification : Finance Masters Degree / PG Diploma Finance Experience Type of Organizations / Industry Type of Job / Projects Years of Experience : 1. Required (Minimum) Financial Services Senior Manager in IA Function in a Financial Services Company 8-10 years 2. Desirable (Additional) Insurance Senior Manager in IA Function in a Financial Services Company 5-6 years Job specific knowledge :&nbsp; - Thorough understanding of Company business and functioning&nbsp; - Updated knowledge on regulatory compliance deliverables - Working knowledge of the internal systems and processes followed by the Auditee departments. Job specific / technical skills : - High Analytical Skills&nbsp; - High Reporting Skills. - Presentation skills required for senior management/ Company Board forums. Competencies : Strategic Orientation : It is the demonstrated capacity to visualize and incorporate the larger and long-term pictures in performing one's role Business Acumen : It is the observed capacity to identify opportunities and to make the best of them for organizational benefit Drive for Results : It is an observed drive to achieve results despite obstacles &amp; setbacks Process Orientation : It is the demonstrated capacity to uphold and conform to Standard Operating Procedures, work processes and Quality standards and modify or create them in line with organizational needs Inter Departmental Collaboration : It is the exhibited capacity to collaborate with and foster collaboration across different departments, functions, teams, and businesses for superior organizational results. Innovation : It is the demonstrated ability to apply new ideas to existing processes, products or services in order to improve these significantly Customer Focus : It is an exhibited aptitude for meeting internal &amp; external Customer expectations consistently and treating Customers as stakeholders in organizational success Leadership : It is the exhibited capacity of enabling individuals and teams give their best by providing a sense of purpose, direction and motivation through personal role modeling Developing Direct Reports : It is the observable capacity to enhance the skill base of team members and assist them in realizing their potential.

Mumbai

Navi Mumbai

Assistant Vice President - Internal Audit - BFSI 

Assistant Vice President - Internal Audit - BFSI  ,Job Description for Assistant Vice President - Internal Audit - BFSI  in Insignia Search in  Mumbai Navi Mumbai for (8-13) years of experience. Apply Now!

Job Description for Assistant Vice President - Internal Audit - BFSI  in Insignia Search in  Mumbai Navi Mumbai for (8-13) years of experience. Apply Now!