Experience : 8 Years To 10 Years

Location : Gurgaon

JOB SUMMARY :

- Leads & directs the strategic and operational development of internal audit & assurance services

- To provide assurance to the Board (via its Audit Committee) on the effective internal audit and controls

- Reviewing and assessing the adequacy and effectiveness of internal controls as well as reporting on its strategies, policies and procedures.

KEY RESPONSIBILITIES :

Internal Audit Plan :

- Prepare comprehensive Internal Audit plan by correct identification of the key risk areas and timely approval by the AC of the IA plan.

- Identify new risk areas and conduct risk based audits and ensure quality of reviews and effective reporting of observations.

- Ensure results of other external audits consistent with the Internal Audit work (performed by the in-house team) with minimum material differences

- Provide recommendations for process improvement in order to mitigate associated risks, to ensure compliance, adequacy and reliability of internal controls & procedures.

- Revenue assurance model and automation in audits

- Preparation of a comprehensive product and revenue assurance model and ensure quality of reviews, effective reporting of observations and its timely completion and implementation.

- Prepare plan for concurrent audit of different types of payouts, functionalities through automation.

- Drive automation in selected areas of audit which are of recurring nature and increasing the level of accuracy while reducing the processing timelines.

- Active participation and contribute towards assurance reviews as per the requirement of Senior Management and Audit Committee.

Stakeholder Management :

- Provide timely and periodical update to Senior Leadership Team and Executive Management Committee

- Provide timely update and contribute towards Quarterly Audit Committee by preparing updated presentation.

Team management :

- Build a strong, highly engaged and performing IA team

- Prepare and adherence to development plan for team members

Measures of Success :

- Correct identification of the key risk areas and timely approval by the AC of the IA plan.

- Ensure quality of reviews and effective reporting of observations.

- Results of other external audits consistent with the Internal Audit work (performed by the in-house team) with minimum material differences

- Provide specific and practicable recommendation for effective closure of the issues and mitigation of risks.

- Provide timely update to management and contribute towards Quarterly Audit Committee and Management Risk Committee.

- 100% adherence to 'Audit Plan' for the Internal Audits assigned as per timelines and defined process in IA manual.

- Provide timely update and contribute towards Quarterly Audit Committee and Management Risk Committee.

- Improvement in Employee Engagement score for the team

Key Relationships (Internal /External) :

Internal :

Key competencies/skills required :

- Domain knowledge of Insurance Industry

- Stakeholder Management

- Team Management

- Negotiation skill

- Collaborative approach

Desired qualification and experience :

- CA

- 8 - 10 years of post qualification experience

- IA experience of Insurance Industry

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