Internal Audit Manager

3 weeks ago

Mumbai, Maharashtra, India Corenza Full time

About Company

A leading retail-focused Non-Banking Financial Company in India, known for its broad reach in the lending sector and catering to both mainstream and underserved customers. It offers tailored financial solutions across Urban Finance, Farmer Finance, SME Finance, and Rural Business Finance. Backed by a major conglomerate, the company is publicly listed, holds a strong credit rating, and has a workforce of around 30,000, with over three decades of industry presence.

Job Description

Key Responsibilities

1. Audit Planning

  • Participate in risk-based audit planning in alignment with the Risk-Based Internal Audit (RBIA) policy.
  • Assess inherent and control risks associated with branch operations.
  • Plan branch audits in accordance with the Internal Audit Standard Operating Procedure (SOP).
  • Develop audit scope, required budgeted capacity, and operating expenditure (Opex) for approval from the Audit Lead/Head.

2. Execution

  • Prepare and update Risk Control Matrix (RCM) in the LARS system and obtain sign-off from the Audit Lead.
  • Lead and supervise execution of branch audits, ensuring adherence to Internal Audit SOP and RBIA policy.
  • Perform audit activities including:
  • Data collection and walkthroughs.
  • Process mapping and documentation reviews.
  • Compliance checks against regulatory and internal processes.
  • Preparation of flowcharts to visualize key business processes.
  • Risk analysis and root cause investigations of control failures and risk events.
  • Conduct half-yearly risk assessments for PAN India branches using risk parameters.
  • Perform analytics and trend analysis using data from multiple sources to support audit findings.
  • Evaluate internal controls for effectiveness and regulatory compliance.
  • Maintain high-quality workpaper documentation in the LARS system.
  • Ensure adherence to the Internal Audit Quality Assurance and Improvement Program (QAIP).
  • Finalize draft audit observations with risk assessment inputs for inclusion in the audit report.

3. Communication & Reporting

  • Present and validate draft observations with auditees and assess their impact.
  • Maintain detailed audit documentation to support observations and conclusions.
  • Coordinate timely follow-up on implementation of audit recommendations.
  • Provide regular updates on audit status and quality to regional audit teams.
  • Ensure clear, timely, and ongoing communication with stakeholders and team members.

4. People Development

  • Attend planned internal training sessions.
  • Maintain relevant professional certifications.
  • Engage in continuous learning related to audit practices, industry trends, regulations, and internal products.

5. Tools & Infrastructure

  • Access and utilize audit management software (LARS) and analytical tools like IDEA.
  • Receive necessary training on internal systems and tools.

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