Prudential - Manager - Audit

Reports to : Director Internal Audit Mumbai for day to day management

Scope of Role :

Key departments / areas of responsibility : Group-wide Internal Audit function

Job Dimensions :

Financial : To assist the Director Internal Audit in managing the department budget.

Non Financial :

- Deliver Internal Audit reviews in BUs across the group including PPMS

- Manage utilization of direct reportees

Overall Job Purpose :

To manage Internal Audit engagements for PPMS Mumbai and other parts of the group reporting directly to Principal Audit Managers within GwIA. May require management of multiple assignments/reviews.

Key responsibilities :

To work under the direct supervision and guidance of the Director IA / BU PAM to generally achieve the following for PPMS and GwIA function:

Internal audit :

- Contribute to the delivery of the PPMS, PruUK and M&G annual audit plan within defined timelines, budgets and quality standards.

Acting in the capacity of Audit Manager :

- Manage one or more audit assignments simultaneously.

Planning :

- Draft audit strategy and approach to the audit.

- Lead interviews with the management responsible for the area being audited, including senior stakeholders.

- Brief the audit team on their respective roles.

- The Manager should be able to understand the business background of the area being audited.

- Review the draft Terms of Reference prepared by the Principal Auditor

- Present the draft Terms of Reference at the panel.

Fieldwork :

- Review documentation of key processes and associated risks and controls being examined in the audit - the Manager would be involved in the more complex activities being reviewed.

- Review the audit working papers in line with the GwIA audit methodology and to ensure they meet QA standards.

- Review audit conclusions based on control and risk evaluation and associated testing

Reporting :

- Prepare / review the draft internal audit report for discussion with the Auditee.

- Ensure that potential observations are discussed with management at periodic intervals to facilitate a no-surprises closing. Discuss the audit report and findings with senior line management

- Ensuring that appropriate responses are obtained for each issue raised in the report and that recommendations are practical.

- Ensure that status update is provided to PAMs at regular intervals.

- Present the draft audit report at the panel.

- Ensure project profile and status & milestones are appropriately updated on Teammate for MI reporting.

- Ensure that quality of report is as per professional standards

Closure :

- Provide feedback on performance following completion of each assignment.

- Maintain good working relations with stakeholders involved in the review.

- Ensure Teammate file is closed in a timely manner

- Sustain quality parameters of the team

Issue Assurance :

- Proactively manage outstanding issues

- Review the audit working papers and approve closure on Team Central in line with the GwIA audit methodology

As part of the IA management team, participate in one or more of the following activities under the guidance of Director, Internal Audit:

- Prepare the annual audit plan in consultation with business line management including clear articulation of specialist audit and resource needs to deliver the annual audit plan provided to Technical Leads.

- Responsible individually and collectively for the scheduling and utilisation of the resources.

- Recruitment

- People initiatives such as Colleague Engagement Survey, nominations for R&R and trainings and development

- Billing and accruals

As People Manager, line manage a team of Assistant Managers and Deputy Managers within a matrix structure including coaching and mentoring individuals, providing performance feedback, conducting regular 1:1 sessions, conducting development and career progression discussions, cascading relevant information to the team.

This job will involve significant travel outside India.

Key Interfaces :

Internal :

- All PRU BU's and PPMS Directors and Senior Management - clearance of reviews and audit planning, plus improvement of the IA service.

- PPMS Business Areas audit planning, sharing best practice

- GwIA- Audit delivery

External Audit : communication of control improvements and audit results, and teamwork to achieve reduction in costs

Competence / Knowledge / Skills required :

Qualification :

- Chartered Accountancy/CIA/Post graduate qualification

- At least 7-10 years relevant post qualification experience

Knowledge :

- Practical and theoretical knowledge of business risk and control frameworks

- Good understanding of company processes and related risks

- Good knowledge of the principles of accounting and auditing and their application to the business

- Good knowledge of COSO framework

Skills :

- Excellent project management skills

- Ability to work on multiple assignments concurrently

- Focussed on delivery and quality

- Continuously monitors performance of self and team to improve performance

Stakeholder management skills :

- Takes time and makes efforts to understand the views of all stakeholders

- Anticipates stakeholder needs and requirements; recognises problems proactively and is able to resolve them effectively

- Allocates high priority to stakeholder satisfaction

- Seeks feedback from stakeholders on the service provided

- Ability to appropriately influence stakeholders by adapting own approach based on an insight into the views and situation of stakeholders

- Ability to manage senior stakeholders

Soft skills :

- Maintains effectiveness and can-do attitude when faced with change and encourages others to react positively

- Copes effectively with times when there are competing priorities

- Ability to think laterally and view the bigger picture; identify new and different perspectives to a problem and develop appropriate pragmatic and innovative solutions and thus provide a constructive challenge to the business

- Ability to take decisions within their remit

- Ability to summarise information and identify implications of findings and provide an insight

- Excellent written and verbal communication skills

- Clear, concise and impactful when communicating; provide an insight on key issues / challenges

- Deliver professionally written and impactful audit reports

- Maintain a good working relationship with Audit Directors and other members of the Internal Audit management team.

- Ability to flex style when working across business areas

People management skills :

- Takes personal responsibility for own work and of the team

- Provides team with a clear purpose, context and direction and guidance; coaches, mentors team; articulates clearly expectations of improved performance

- Creates a positive environment by building trust through being open and honest with the team; enables team to improve performance by providing the support the team needs to grow and develop and improve performance

- Ensures the team gets the credit for its successes

Attitude :

- Good team player

- High on integrity

- Demonstrates ethical behaviour

- Orientation to timely delivery of work to a professional standard

- Pragmatic approach

- Willingness to travel extensively

- Eye for detail

- Focused

- Commercial orientation