HR at MAX Life Insurance
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Max Life Insurance - Senior Manager - Internal Audit - CA (8-10 yrs)
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) :
Key competencies/skills required :
- Domain knowledge of Insurance Industry
- Stakeholder Management
- Team Management
- Negotiation skill
- Collaborative approach
Desired qualification and experience :
- 8 - 10 years of post qualification experience
- IA experience of Insurance Industry
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