Manager - Internal Audit - Insurance

Manager Internal Audit in a Leading Insurance Company- Mumbai

Location : Mumbai

Experience : 7 - 9 yrs

Manager - Internal Audit

Grade: 2

Reports to: Director of Internal Audit

- The PPMS Audit team is part of the Group Wide Internal Audit team. It provides operational support and technical audit support primarily to UK based businesses (GHO, UKIO and M&G) but also to deliver audit requirements for PPMS in India (including audit oversight of Capita India) and provide audit support to PCA on a project basis.

- The Manager will lead a team of Auditors and will be accountable for the delivery of specific elements of the audit plan for a particular Business Unit or area of specialism (e.g. Actuarial, IT, Risk, Investment).

Key responsibilities include :

- Manage delivery of the PPMS, PruUK and M&G Audits with Principal Audit Managers across the BU's and ensure audit reviews are done within defined timelines, budgets and quality standards;

- Role will include planning, fieldwork, reporting and issue assurance for all audit assignments and will involve extensive travelling across Prudential Group companies;

- The role will involve Planning Audits: Drafting audit strategy and approach, Leading interviews with management and present draft teams of reference;

- Review and conducting Field work: Conducting field work - i.e. completing risk assessment, identifying and assessing risks and perform test of key controls. Also review documentation of key processes & Associated risks and test of controls done by the auditor(s).

- Reporting: Prepare draft internal audit report along with audit findings for discussion with the Auditee and Senior Line management. Practical recommendations for any remedial action should be made.

- Issue Assurance: Proactively manage outstanding issues, Review the audit working papers and approve on Team Central in accordance with the GwIA audit methodology

- As People Manager, manage a team of Assistant Managers and Deputy Managers within a matrix structure including coaching and mentoring individuals, providing performance feedback, conducting regular 1:1 sessions, conducting development and career progression discussions, cascading relevant information to the team.

Purpose of the role :

- Lead a team to deliver the end to end audit plan for a particular business unit or area of specialism

Advise :

- Consults with, supports or advises others to enable fulfilment of their accountabilities; accountable for providing input where required

Management Accountabilities :

- Ensure role profiles are maintained appropriately

- Ensure that all legal agreements with third parties within your area of responsibility are managed in accordance with the requirements of the Managing Contractual Relationships framework

- Be a visible manager

- Define requirements and select people to deliver work

- Set individuals' accountabilities and work objectives

- Manage individuals' performance, coach and provide regular feedback

- Report on team performance and suggest changes as necessary

- Manage a budget (if appropriate)

- Produce operational plans

Behavioral Capabilities :

- Building our business

- Customer focus

- Flexibility

- Exercising judgement

- Communication

- Collaboration

- Empathy and Influence

- Delivering through others

- Leading with respect

- Experience working in financial services

- Experience (7-10 years )of working in an audit or risk advisory environment

Knowledge :

- Relevant professional qualification (Chartered Accountant / CPA/ CIMA/ MBA/ CFA) with post qualification experience

- Detailed knowledge of business processes

- Detailed knowledge of the principles of accounting and auditing and their application to the business

- Detailed knowledge (practical and theoretical) of business risk and control frameworks, COSO

- Working knowledge of Prudential products, systems and distribution channels

- Understanding of the Statements of Principle and Code of Practice

- Qualified Auditor or detailed knowledge of a specialist area such as IT, Actuarial, Investments or Risk

Desirable Knowledge :

- Certifications such as CISA, FRM, CIA would be beneficial

Standard responsibilities associated with this role :

- Take all reasonable steps to ensure adherence to all external regulatory, legal and industry obligations within the business area

- To demonstrate a positive risk and control culture through the active identification, assessment, monitoring and management of risks and controls within the business area

- To ensure that you understand and adhere to Prudential's Code of Conduct and, where appropriate, comply with all relevant regulatory policies.

- This includes completion of all mandatory training requirements Ensure all expenditure commitments (orders, contracts, budgets, etc.) and all payments are properly authorized, controlled and monitored in accordance with Prudential UK delegated authority requirements.

- The responsibilities of expenditure authorizes are documented in the Prudential UK Financial Procedures Manual.

Shraddha Mehta