Fulcrum - Team Leader/Audit Manager - Life & Non-Life Insurance Audits (3-7 yrs)
Team Leader Insurance (required for Mumbai)
We are a firm of Chartered Accountants engaged in Internal Audit, Concurrent, Operations and Management Audits, Management Consultancy, Business Process Redesign, etc., for the Banking and Financial Services and Insurance (BFSI) sector. We do not conduct Statutory Audits and Tax Consultancy services.
Currently, we have requirement for the position of Team Leader for our Insurance Audit practice in Mumbai.
Position: Team Leader / Audit Manager Life and non-Life Insurance Audits
Experience: 3-7 years in Internal and Operational Audits of Life and non-Life insurance businesses including all IRDAI and other regulatory related compliances. Experience of review of core insurance operations, investments front, mid and back office, Actuarial, process and operations, etc., would be an advantage.
Educational Qualification: Chartered Accountant / MBA / Experienced Graduate / Others
Reporting to: Partner
- Overall purpose of the job: Independently handling audit engagements for various Insurance Entities covering a detailed end to end review of processes as envisaged by audit committee / management or the regulator.
- Good understanding of insurance activities including KYC/AML, client onboarding, new business,
underwriting, policy issuance, policy servicing, claims operations, investment (front, mid and back office) controls related to actuarial operations, regulations governing insurance industry, etc.
- Experience in IFC controls, RCSA development and general understanding of risk and controls framework
- Good analytical skills, knowledge of advanced excel and ability to maintain good inter-personal relations
- Plan audit execution in line with the scope agreed with the client.
- Assign daily, weekly and monthly tasks to all team members.
- Monitor work performed by the Team members on a daily basis.
- Provide status updates to Partner and client on periodic basis.
- Conduct detailed walkthroughs to gain understanding of the processes and controls implemented by the client.
- Ensure quality of work performed by the team.
- Document work performed and maintenance of work papers
- Review adherence with regulatory and statutory compliances
- Conducting audits within the time schedule assigned
- Identify areas of improvements for each process being audited and recommending the same to the client
- To keep track of all regulatory and other changes in relation to Life Insurance and financial markets
- Drafting Audit reports, detailing findings of audit
- Should have a strong domain across the spectrum of operations for Insurance.
- Should have good oral and written communication skills to articulate queries / observations to clients
- Should have good command over language and grammar
- Should have the ability to grasp / learn and unlearn processes / businesses of our clients.
- Should have good interpersonal skills in interactions with team members and client representatives at all levels
- Should actively mentor and train team members, support their skill enhancement, improve their capacity to take more responsibility and oversee their overall development and also identify staff members with potential for grooming them for managerial and quasi managerial roles.