DGM/GM- Internal Audit Function Internal Audit Grade B and M3/M4

DGM/GM- Internal Audit Function Internal Audit Grade B and M3/M4

Job Description

  • Experience required: Minimum 17 years of work experience
  • Educational Qualification :Include Additional Certification if any Chartered Accountant or Graduate with full time MBA in Finance

1)Develop Internal Audit Strategy & Guidelines:

  • Formulate scope of the Internal audits including implementation reviews and testing of controls, in-line with the prevalent practices, internal / external requirements and advise of the local management and approval of Audit committee.
  • Get the Internal auditing firm appointed following the approved selection process and approval from Audit committee and Board of directors.
  • Prepare & circulate the annual internal audit schedule based upon the approved scope of audit.
  • Deploy the appointed internal auditing agency and ensure the conduct of audits as per annual schedule.

2) Performance and conduct of audits:

  • Ensure all audits covered in the annual schedule are taken up as per planned dates.
  • Organise opening meetings for each of the audits between the Auditor and Auditee functions acting as a facilitator providing all needful support.
  • Oversee, coordinate and facilitate the ongoing audit activity to ensure that all audits are completed as per plan.
  • Ensure timely availability of inputs requested by the auditors from the respective process owners.
  • Ensure issue of timely Audit reports by the Internal auditing firm, their basic quality and adequacy and action plans from the relevant process owners for implementing the recommendations.
  • In case of any significant conflicts / disagreements undertake needful Intervention, mediation and direction to ensure completion of audit(s).
  • Review audit reports before putting up to management and the audit committee.
  • Organise presentations of the Audit reports to the Local management and ensure that comments / advice, if any, from the management are incorporated.
  • Put-up agenda for submitting the audit reports to the Audit committee meeting ensure that the findings are presented to the audit committee by the internal auditing firm.
  • Taking – up any other special audits as desired by the Management.

3) Internal Financial controls (IFC) :

  • Ensure that testing of controls is conducted by the appointed external expert agency as per approved scope of work.
  • Ensure action plans from the relevant process owners for addressing control deficiencies, if any.
  • Ensure updation and issue of Risk Assessment Control Matrices (RACMs) by the agency.
  • Review the IFC update reports before putting up to management and the audit committee.
  • Organise presentations of the IFC update reports to the Local management and ensure that comments / advice, if any, from the management are incorporated.
  • Submit IFC update to Audit committee via appropriate agenda and ensure that the findings are presented at the audit committee meeting by the agency.

4) Action taken reports (ATR) :

  • To function as a nodal point for the ATR (Action Taken reports) pertinent to Audit committee meetings of MGL board.
  • Prepare the ATR capturing the actions advised by the Audit committee as per the minutes of the Audit committee meetings.
  • Circulate the ATR amongst all process owners and obtain their action plans along with timelines for undertaking the actions.
  • Present the ATR to local management and incorporate their comments / advice, if any.
  • Put-up the ATR agenda to the Audit committee and present the ATR during the meeting explaining all actions, as necessary.

5) People :

  • Coordinate with HR department to ensure Internal audit department is adequately staffed as per the approved manpower requirements
  • Own and develop high potential talent and create a talent pipeline for the department.
  • Ensure high level of employee engagement and retention of critical employees.

Company Profile:

Salary: Not disclosed

Industry: Accounting / Finance

Functional Area:

Role Category: Others

Employment Type: Full time

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