Khivraj Motors - Assistant General Manager - Internal Audit

Job Description: Assistant General Manager - Internal Audit (Automotive Industry - 2, 3 & 4 Wheeler Sales & Service)

Position Title: Assistant General Manager - Internal Audit

Location: Kastruba Road

Department: Internal Audit

Reports To: Director of Finance/Chief Financial Officer

Industry: Automotive - 2, 3 & 4 Wheeler Sales & Service

Position Summary:

The Assistant General Manager - Internal Audit will lead the internal audit function for the organization across its 2, 3, and 4-wheeler sales and service operations.

This role involves evaluating and improving the effectiveness of risk management, control, and governance processes.

The incumbent will drive internal audit strategies, ensure compliance with regulatory requirements, and provide insights for process improvement and operational efficiency.

Key Responsibilities:

1. Strategic Audit Planning:

o Develop and implement an annual internal audit plan for the automotive sales and service business.

o Identify key risk areas in sales, service, and operations across the organization.

o Align internal audit activities with the company's strategic objectives.

Audit Execution:

o Lead and manage audit engagements, including operational, financial, and compliance audits.

o Oversee audit procedures, ensuring adherence to audit standards, policies, and regulations.

o Review and analyze financial reports, operations data, and system controls to assess the effectiveness of internal controls.

o Evaluate internal processes for efficiency, effectiveness, and compliance with industry regulations and corporate policies.

Risk Management:

o Identify potential risks in the business processes related to 2, 3, and 4-wheeler sales and service.

o Collaborate with senior management to develop mitigation strategies for identified risks.

o Provide guidance on risk management practices to ensure the organization's assets are safeguarded.

Regulatory Compliance:

o Ensure adherence to statutory requirements and industry regulations.

o Stay updated with changes in legal and regulatory frameworks affecting the automotive industry.

o Liaise with external auditors and regulatory authorities as required.

Reporting and Communication:

o Prepare comprehensive audit reports for the management and board, highlighting key findings, risks, and recommendations.

o Present audit findings and recommendations to senior management and the audit committee.

o Work closely with department heads to ensure that audit recommendations are implemented and followed up effectively.

Team Leadership:

o Lead, mentor, and manage the internal audit team.

o Develop the audit team's technical skills and knowledge base, ensuring continuous professional development.

o Foster a culture of integrity, transparency, and accountability within the team.

Process Monitoring:

- Ensure adherence to SOPs and internal controls as signed off by the Head of Department (HOD).

- Evaluate and monitor operational processes for compliance and efficiency.

Process Improvement:

o Identify opportunities for process improvements within the internal audit function and across the organization.

o Recommend cost-effective solutions to enhance operational efficiency in sales and service operations.

o Drive initiatives for automating and optimizing audit processes using technology.

Stakeholder Management:

o Collaborate with the senior management team, including finance, operations, and HR, to ensure alignment of internal audit objectives with business goals.

o Build strong relationships with key stakeholders across the organization to facilitate effective audits and implementations of recommendations.

Key Requirements:

- Educational Qualification: CA/CPA/CIA or equivalent professional qualification.

- Experience: Minimum of 5-10 years of experience in internal auditing, with at least 5 years in a leadership role in the automotive industry, particularly in 2, 3, and 4-wheeler sales and service.

- Industry Knowledge: Strong understanding of the automotive industry, including sales and service operations, dealership management, inventory management, and financial controls.

- Skills:

o Proficient in audit methodologies and best practices.

o Strong analytical, problem-solving, and decision-making skills.

o Excellent communication and presentation skills, with the ability to present complex information clearly to senior management.

o Leadership and team management skills.

o Knowledge of ERP systems and audit software tools.

- Regulatory Knowledge: Deep understanding of statutory compliance and industry regulations in the automotive sector.

- Travel: Willingness to travel as required to various locations for audits.

Preferred Qualifications:

- Experience with lean management and process improvement methodologies.

- Previous exposure to handling audits in a multi-location business environment.

- Proficiency in data analytics and audit automation tools.

Work Environment:

- The role requires both office work and travel to various business locations for on-site audits