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Functional Head
2 months ago
Established in 1962, it has grown to become the largest Brake manufacturer in India today. Headquartered in Chennai, it has three main divisions; Brake division, Foundry division and Polymer division. It is the largest component manufacturing company within the TVS group.
Department: Internal Audit
Working Days: General shift / 5 day working pattern (Sat, Sun – Weekly Off)
Purpose:
Serves as the organization’s chief audit executive and as a member of the executive management
team. Performs advanced level professional internal auditing work as a key component of the
corporate governance structure.
Work involves directing a comprehensive audit program including performance, financial and
compliance audit projects.
Scope:
All Locations of the Company and also the Dedicated Units.
Roles & Responsibilities:
Sets objectives for the department based on the medium-term objectives and monitors the same at regular intervals.
Guides audit staff in the planning, organizing, directing and monitoring of Internal Audit
operations, including assisting in training and evaluating staff; and taking corrective actions to
address performance problems.
Directs the identification and evaluation of the organization’s risk areas and oversees the
development of the annual Audit Plan.
Identify/suggest improvement & cost savings opportunities, prepare audit findings and make
suitable recommendations.
Interacts with team and prepares annual plan for internal audit activities to meet set objectives.
Discusses with statutory auditors about the annual audit plan and gets approval from Audit
committee.
Develops audit plan for individual auditors and assigns the task to them to meet requirements.
Sends communication on the annual audit plan to all concerned auditees as per procedure and to ensure the presence of concerned individual during auditing.
Develops the audit procedures, including identifying and defining issues, developing criteria,
reviewing and analysing evidence, and documenting the processes and procedures to meet
requirements.
Reviews and verifies the audit reports submitted by team members at regular intervals.
Consolidates the audit reports and presents them to management on monthly basis.
Verifies and send reports to audit committee on the corrective actions taken for the major
deviation areas/points.
Coordinates with external auditors for internal auditing of regions/warehouses and to ensure the
same are carried out as per plan.
Verifies and send reports to audit committee on the corrective actions taken for the major
deviation areas/points.
Coordinates with external auditors for internal auditing of regions/warehouses and to ensure the
same are carried out as per plan.
Conducting comprehensive audits across the
Foundry divisions to enhance operational efficiency, compliance and financial reliability
Represents internal audit at management meetings and with external organizations.
Prepares annual budget(manpower, capex and revenue) for the internal audit section and forwards to director in charge for review.
Monitors and controls operating budget for the Internal audit Department (Revenue and Capital
Budget).
Communicates the results of audits via written reports and oral presentations to management and the Board of Directors.
Provides professional guidance to the audit team in the identification, development and
documentation of audit issues and recommendations.
Pursues professional development opportunities, including internal and external training and
professional association memberships, and shares information gained with audit team.
Recommends or nominates the team members for training programmes to enhance their
knowledge and skill.
Recruits and supports HR in acquiring the right talent for the section.
Key Competencies:
Strong understanding of internal control frameworks, including developing risk control matrices,
guiding the team, and performing control assessments.
ERP or particularly SAP knowledge (Mandatory Requirement)
Ability to develop, implement, and maintain a delegation of authority manual to ensure clear lines of accountability.
Proficiency in data analytics tools (e.g., IDEA, ACL, Power BI) for maintaining existing exception
reports and developing new ones.
Skilled at delivering clear, concise presentations on complex topics, ensuring tactful communication with the Board. Determine internal audit scope
Maintain excellent business report writing skills to translate technical IT reports from IT auditors
into clear, concise reports for the Audit Committee.
Effective communication and relationship building skills to understand concerns and communicate clearly with both the Audit Committee and Management.
Internal audits and manufacturing operations preferred.
International travel Audit exposure by geo region
Preferred Certified Internal Auditor (CIA) and/or Certified Information Systems Auditor (CISA)
certifications.
Qualification & Experience:
Qualified Chartered Accountant (CAs) with 10-15 years of experience in internal audit, risk
management, and compliance. Manufacturing audit experience is a plus.
CTC - Up to 35 LPA