Internal Audit

Business Excellence
Identify opportunities for improvement in the operation process with specific focus on ROI and cost reduction.
Challenge the BUs on the current process and work along with them to implement the best practices to derive the maximum ROI.
Analyze the processes end to end to identify opportunities for cost reduction and efficiency improvement with specific focus on the following:

Logistics Cost: Whether best rates are negotiated with transport vendors, new approaches like e-bidding of freight, efficient route planning, optimum utilization of warehouse space, inventory management including planning, whether the number of warehouses and location gives the maximum cost benefit, criteria for 3PL selection, automation, etc.

Buy vs Manufacture: Whether tolling strategy aligned with the organizations objective, cost effectiveness, costing of processing charges, etc.

Product Margin: To review the system in place to analyze the product wise margins, identify low margin/negative margin products and strategy in place to improve margins, whether the product mix strategy is aligned with the organizations long term strategic objectives.
Sales Incentive through Schemes to Dealers: Effectiveness of the sales schemes being operated, analyzing whether sales schemes are launched with a well thought out strategy and supported by adequate documentation, identify scope for cost reduction in sales schemes and incentives offered to dealers.

Advertising & Promotion: Analyze the ROI on advertising spend and its effectiveness. Identify Business Excellence
Identify opportunities for improvement in the operation process with specific focus on ROI and cost reduction.
Challenge the BUs on the current process and work along with them to implement the best practices to derive the maximum ROI.
Analyze the processes end to end to identify opportunities for cost reduction and efficiency improvement with specific focus on the following:

Logistics Cost: Whether best rates are negotiated with transport vendors, new approaches like e-bidding of freight, efficient route planning, optimum utilization of warehouse space, inventory management including planning, whether the number of warehouses and location gives the maximum cost benefit, criteria for 3PL selection, automation, etc.

Buy vs Manufacture: Whether tolling strategy aligned with the organizations objective, cost effectiveness, costing of processing charges, etc.

Product Margin: To review the system in place to analyze the product wise margins, identify low margin/negative margin products and strategy in place to improve margins, whether the product mix strategy is aligned with the organizations long term strategic objectives.

Sales Incentive through Schemes to Dealers: Effectiveness of the sales schemes being operated, analyzing whether sales schemes are launched with a well thought out strategy and supported by adequate documentation, identify scope for cost reduction in sales schemes and incentives offered to dealers.

Advertising & Promotion: Analyze the ROI on advertising spend and its effectiveness. Identify leakages, if any, and how to suggest ways to reduce the A&P spend as % to sales.
Head Count: Analyze the strategy of on-roll/off-roll mix of employees, how effective it is, cost implications and challenge the BUs. Benchmarking with industry and Group on the % of employee cost.

Other overheads: Analyze the overhead spend end to end and identify areas for cost reduction.
Implement an organization wide project management strategy and manage all aspects of operational excellence projects.
Track the post capitalization benefits of assets to ensure that they are in line with the initial forecast.
Analyze the cash flow and working capital management practices being followed in BUs and suggest improvement.
Analyze and suggest ways to improve the budgetary control being exercised in the organization.

Internal Control/Audit
Undertake internal audits to ensure that the company meets its financial, operational and compliance objectives.
Based on risk assessments, prepare yearly Internal Audit Plan.
Report on control deficiencies and audit findings to management and make recommendations to mitigate risk and add value.
Challenge current processes across the company and identify opportunities for improvements.
Follow up on the remedial actions suggested and present the Action Taken Report to management.
Manage and monitor the Internal Audit undertaken by External audit firms for effective outcome.
Develop Risk Control Matrix (RCM) and update the same on a periodical basis in alignment with the Internal Financial Control framework.
Alignment with Corporate Risk Assurance (CRA) team.
Draft new Policies & Procedures and review the existing Policies and Procedures to strengthen the internal control.
Take up special assignments as per the management requirement.
leakages, if any, and how to suggest ways to reduce the A&P spend as % to sales.

Head Count: Analyze the strategy of on-roll/off-roll mix of employees, how effective it is, cost implications and challenge the BUs. Benchmarking with industry and Group on the % of employee cost.

Other overheads: Analyze the overhead spend end to end and identify areas for cost reduction.
Implement an organization wide project management strategy and manage all aspects of operational excellence projects.
Track the post capitalization benefits of assets to ensure that they are in line with the initial forecast.

o Leadership, Timely Decision, Leadership skills, Relationship Management, Strategic thinking, Pro Activeness