Posted By
Posted in
Banking & Finance
Job Code
943083
Our client is one of the leading private sector Life Insurance Company. It is listed on National stock exchange (NSE) and Bombay stock exchange (BSE)
Job role : Sr Manager - Internal Audit
Reporting : AVP
Location : Mumbai
Experience : 8 Years To 10 Years
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
- 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 competencies/skills required :
- Domain knowledge of Insurance Industry
- Stakeholder Management
- Team Management
- Negotiation skill
- Collaborative approach
Desired qualification and experience :
- CA
- 8 - 10 years of post qualification experience
- IA experience of Insurance Industry
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Posted By
Posted in
Banking & Finance
Job Code
943083