Tata AIA Life Insurance - Manager/Senior Manager - Internal Audit

Manager/Senior Manager - Internal Audit

- Organizational processes

- Key contribution

- Audit Planning

- Build / review the permanent file for the audit

- Draft audit planning memo and engagement letter

- Review and discuss the Risk Assessment Matrix with the HOD and get it validated from the auditee

- Plan audit testing strategy and estimate the time for completion of the audit

- Review IT support needs for the audit

Fieldwork:

- Do a kick off meeting with the auditee team to explain the audit scope and objective and perform a process walk through alongwith the process owners

- Perform analytical review procedures, using audit software, as applicable

- Ensure that the RAM is validated by the auditee

- Ensure that the key controls as documented in the RAM are adequately tested to support the audit conclusions

- Validate the audit conclusions and ensure factual accuracy

- Escalate audit issues, as appropriate

- Complete work paper review in Teammate

Report Discussion and report writing:

- Discuss all findings with the senior management and ensure factual accuracy of the audit issues

- Discuss management responses, action plans and timelines to ensure that the risks identified are adequately mitigated

- Review the audit report for accuracy of data, language and clarity before submission to the HOD

- Discuss and clear audit report with the HOD

Managing the Audit Team:

- Guide and supervise the team throughout the audit

- Review audit work papers to ensure compliance with professional and AIG standards

- Ensure timely audit completion

- Ensure timely updating of ATS and Team mate

Risk:

- Own-up' the risk of the function by developing a risk aware culture through participation in measurement, analysis and mitigation of risks associated with the respective function. This includes development of risk response processes, participation in contingency and business continuity programs and reporting of emerging risks with potential impacts.

- Also respond to risks highlighted by employees through formal / informal mechanisms and advice on various risk management issues within the organization and provide feedback.

- Participate in implementing risk mitigation plan through optimum resource allocation, monitoring and reporting on status.