MSN Laboratories - Head - Internal Audit (20-22 yrs)

Purpose :

To lead the internal audit function, ensuring the integrity of financial operations, compliance with regulatory standards, risk management, and the optimization of internal controls within the pharmaceutical industry.

Key Responsibilities :

- Develop and implement a robust internal audit strategy aligned with organizational goals.

- Conduct audits across MSN Group companies' operations to identify risks and areas for improvement.

- Evaluate the effectiveness of internal controls, processes, and compliance with regulatory standards.

- Provide actionable recommendations to enhance financial integrity and operational efficiency.

- Collaborate with leadership to assess and mitigate financial and operational risks.

- Oversee the preparation of comprehensive audit reports for senior management and the board of directors.

- Ensure compliance with industry-specific regulations

- Lead and mentor the internal audit team, fostering a culture of accountability and continuous improvement.

Key Performance Indicators (KPIs) :

- Timely completion of audit plans and projects.

- Reduction in identified financial and operational risks.

- Implementation rate of audit recommendations.

- Compliance with regulatory and internal control standards.

- Employee engagement and skill development within the audit team.

Key Relationships :

- Leadership team, CFO

All the departments in the group

- Scope of Authority - Full oversight of the internal audit function across all departments.

- Authority to design audit frameworks, methodologies, and schedules, and get it approved with CFO

- Decision-making authority on resource allocation for audit activities and team structure.

Skills and Competencies :

- Expertise in internal auditing, risk management, and compliance within the pharmaceutical industry.

- Strong knowledge of financial regulations, auditing standards, and industry-specific requirements (e.g., GMP).

- Proficiency in audit tools, ERP systems, and financial reporting software.

- Analytical mindset with excellent problem-solving and decision-making skills.

- Strong leadership, communication, and stakeholder management abilities.

Challenges/Complexities :

- Managing audits across diverse functions

- Navigating complex regulatory requirements and ensuring compliance.

- Balancing risk management with operational efficiency and innovation.

Reporting Structure - Reports to the CFO

- Direct oversight of the internal audit team and collaboration with department heads.

- Decision-Making Scope : Strategic decisions on audit frameworks, risk mitigation strategies, and internal control enhancements in collaboration with CFO

- Operational decisions on audit schedules, resource allocation, and team management.

- Decisions impacting compliance with regulatory standards and internal policies.

- Required Collaboration : Work with finance, manufacturing, R&D, and quality teams to ensure robust internal controls and compliance.

- Collaborate with external auditors and regulatory bodies for seamless audits and inspections.

- Partner with HR to build a high-performing internal audit team through recruitment and training.