Head - Internal Audit - Financial Services

Job Purpose (Key responsibilities):

- Manage Internal Audit function (in-house teams and professional firms engaged to support the Internal Audit function) and ensure that highest professional standards are met in providing an independent & objective assurance.

- Build an effective element of surprise in audit conduct and build a construct for optimal coverage (audit scope) to give reasonable assurance to the Management and Board.

- Ensure that the Audit Scope and Coverage is dynamic as to remain abreast in line with changing regulations, changing market conditions and changing business model of the company.

- Work closely with respective departments to identify Key Risk Areas and guide to build robust Internal Controls on grounds of IFC.

- Actively support/lead Process Improvement, Policy Restructuring and other strategic initiatives including review of Authority Matrix, Standard Operating Procedures etc.

- Report to Audit Committee and work closely with the leadership team to ensure tone at the top is aligned with the internal controls requirements/framework while maintaining meaningful relationship with the key stakeholders, and partner with key functions to drive improvement/strengthening of internal controls and governance.

- Independently managing Internal Audit, Process audits, finalizing IA reports, Business Process Risk Assessment and Business Process Control Reviews, Cost Reduction, Re-engineering of Internal Audit function and supporting RBI & Statutory audits.

- Successfully supporting business managers in implementation of audit recommendations and improvements identified during audits.

- Devising of the Annual audit plan, in line with organization structure and strategy and executing the audit plan which includes Branch Audits based on Risk Matrix, all Statutory Guidelines of RBI etc.

- Quarterly reporting of Findings to Audit committee.

- Continuous review

- Assist the development of an internal control culture, including training to staff.

- Monitor the trends and development in the internal audit area and device a scoring model to rate branches basis risk profile

- Conduct adhoc investigations and reviews as requested by the senior management