Internal Audit Manager - Life insurance - CA

Internal Audit Manager - Life insurance

Designation: Internal Audit Manager (700260)

Years of experience: 7 to 8

Salary Range: INR to (Annual)

Job Purpose :

- To conduct & manage internal audit as per the Internal audit plan and ad hoc audit/reviews of any areas identified by management and to assist in enhancing the Cost and Internal audit framework in the organization

Key Responsibilities :

- To develop internal audit programme to ensure that all functions/processes are cover to systematic review

- To Co-ordinate with external audit team and supervise them to ensure that they carry out their responsibilities effectively

- To Assist in audit committee presentation for Board

- To Review and evaluate internal procedures and supporting documentation to ensure that they provide an effective control system

- To Carry out ad hoc audit/reviews of any areas identified by management

- To conduct analysis of various Costs including Fixed and Variable Cost

- To Identify and recommend cost-effective solutions

Total Headcount (Direct) Supervised : 2

Specific Authorities (Financial & Non Financial):

- Authorized to approve FYLE expenses, travel, PO, GRN, Invoices as per delegation of authority matrix / organization policy

- Authorized to approve the internal audit scope

- Authorized to approve RCM

Key Performance Indicators :

- Internal audit plan Adherence = 100%

- TAT (High finding Reporting to closure) <= 90 days (100%)

- Audit Committee Reporting < 10days prior to ACM

- TAT (Proposed internal audit plan communication to Q4 ACM) < 10days prior to ACM

- TAT (Internal audit memo to Audit start date)< 3days prior to Audit start date.

Job Requirements :

- Qualifications: Chartered Accountant

- Base Skill: Understanding of organizational systems, process and products; MS Suite

- Functional Competencies :

- Risk Management

- Regulatory knowledge - Fair understanding of Insurance regulatory requirements

- Analytical Skills

- Industry networking

Behavioral Competencies :

- Business Acumen

- Collaboration

- Execution Excellence