Bajaj Allianz - Team Leader - Internal Audit

Team Leader Internal Audit

JOB PURPOSE:

Drive timely conduct of internal audits for head office and branches with the objective of minimizing operational risks and systemic irregularities, driving adherence to statutory compliances and identifying opportunities to improve operational efficiency

PRINCIPAL ACCOUNTABILITIES:

1. Audit Plan Creation:

- Interact with key stakeholders of business/functions teams to identify any new processes/systems implemented, challenges being faced by business/functions and priority areas for resolution

- Lead own team to audit observations of previous years and conduct market research to identify the priority areas, systems and processes to be covered in audit plan

- Contribute to the develop annual audit plan to monitor the level of adherence to (a) regulatory requirements (b) BAGIC's internal policies and controls; Submit draft plans to supervisor for approval and incorporate any feedback/inputs received

- Facilitate presenting the plan to Audit Committee, and upon approval, oversee dissemination of audit plan with all relevant stakeholders across the organization

2. Audit Execution and Conclusion

- Conduct audit of internal controls, systems, processes and procedures followed by various functions/ departments to assess the effectiveness of the existing control mechanisms;

- Interact with internal and external stakeholders (such as customers and channel partners) to identify systemic issues, compare with best practices across the industry/markets and highlight any other audit observations

- Suggest recommendations & carry out follow ups for identified audit observations/issues/best practices to facilitate achievement of the cost savings, risk reduction and increased effectiveness of internal systems and processes

- Provide feedback to the audited parties, Audit Committee and other relevant stakeholders on design of controls, current compliance levels with both internal policies and regulatory requirements

- Drive completion of audits with business/functions within approved audit plan timelines; Escalate complex issues to supervisor for input

3. Organization-wide Action Planning Support

- Based on audit observations from Head Office and Branch audits, identify and share organization-wide priority areas with HODs for action-planning

- Collate action plans received from HODs of various businesses/functions and submit the action-planning report (for the organization) to supervisor in order to enable him/her to present/submit the same to Audit Committee, and other senior management stakeholders

- Drive submission of relevant inter audit reports (observations, action plans) to statutory auditors, as needed

4. Team Management

- Participate in recruitment process to identify the right talent for various positions within the function

- Conduct training needs identification and drive adequate participation of team in training programs

- Establish individual performance expectations and evaluation metrics, and regularly review individual performance

- Identify and create development opportunities for team members to enhance functional knowledge

a) Qualifications

- Minimum: Chartered Accountant; CIA and CISA (preferred)

b) Work Experience

- Minimum 8 years of experience

- Preferably from Insurance industry or with functional expertise through experience at Big 4

- Thorough knowledge of internal/ statutory audit guidelines