Internal Auditor

Key Purpose of the Job

This role will build, manage and control a robust Internal Audit function, that will assess and make appropriate recommendations to improve the governance processes on business decision making, risk management and control; promote appropriate ethics and values within the organization; and ensure effective process control, performance management and staff accountability, etc

Role & responsibilities

- The Internal Auditor will build and manage a full risk based internal audit function and framework, in conjunction with the audit committee chair.

- Ensure that the function carries out its responsibilities as defined by the regulator, establish policies and procedures as approved by the Board to meet the national and international best practices.

- Ensure independent risk assessments for the purpose of formulating a risk-based audit plan covering risks at various levels/areas (corporate and branch, the portfolio, and individual transactions, etc.) as also the associated processes.

- Develop a strong assessment framework as well as enterprise risk management for reporting various business activities in the form of a functional audit. Will ensure that the risk assessment process includes identification of inherent business risks in various activities undertaken, evaluation of the effectiveness of control systems for monitoring the inherent risks of the business activities ('Control risk') and drawing-up a risk-matrix for both the factors viz., inherent business risks and control risks

- Plan and supervises auditing programs. Develop and maintain the Internal Audit Procedures to ensure that best practice is taken account of and at the conclusion of audit visits provide a full briefing to the MD & CEO and to the board if required.

- Present the audit report to the CEO/CFO/ Heads of Function, highlighting any areas of concern. Meet the functional Heads frequently to align them on expected control culture.

- Review and evaluate corrective measures for satisfaction of audit findings as well as monitor adequacy of corrective procedures.

- Develop risk-rating systems for departments and comprehensive audit checklists.

- Check authenticity of transactions and adherence to systems and procedures.

- Verify that all statutory requirements are fulfilled by the organisation ensuring all necessary certificates, licenses and notices are in place

- Ensure continuous market awareness, the concerned risk factors to be studied in detail and

alerted to avert possible losses

- Ensure final reports are issued with all recommendations agreed and accepted by the audited individual/group

- Prepare an Internal Control framework in line with regulatory requirements and NBFC industry standards, including ICFR

- Discuss, negotiate scope and engage CA firms for additional audit coverage as per requirement

- Work closely with other GRC functions such as Secretarial, Compliance, Risk and Finance & Accounts to constantly improving and strengthening the GRC framework

- Work with other teams for key audit closures, including Statutory Audit, Tax Audit.

Preferred candidate profile

CA with minimum 8 years of experience as internal auditor from NBFC background.

Perks and benefits

Best as per industry standards