Internal Auditor

Key Responsibilities:

• Plan, conduct, and manage internal audits for various functions within the organization, functions including finance, operations, compliance, credit, risk management, and more.
• Assess the adequacy, effectiveness, and efficiency of internal controls, ensuring that business operations are in line with company policies and regulatory requirements.
• Identify and evaluate potential risks and inefficiencies in business processes and make recommendations for improvements.
• Perform risk-based audits and continuous monitoring to identify areas that require immediate attention or action.
• Prepare detailed audit reports on findings, identifying non-compliance or areas of concern, and provide actionable recommendations for corrective actions.
• Monitor the implementation of audit recommendations and ensure that corrective measures are taken promptly.
• Evaluate the efficiency and effectiveness of operations to identify process improvements, cost-saving opportunities, and potential areas of operational risk.
• Identify any discrepancies, financial risks, or potential fraud in the financial processes.
• Investigate potential fraudulent activities, irregular transactions, or financial discrepancies within the companys operations.
• Develop and implement strategies to detect and prevent fraud, waste, and abuse within the organization.
• Develop comprehensive audit plans based on risk assessments, company priorities, and regulatory guidelines.
• Ensure audits are conducted according to a pre-established schedule and complete documentation of audit procedures, evidence, and findings.
• Maintain a proper record of audit files and documentation to ensure compliance with company standards and regulatory requirements.
• Evaluate the effectiveness of the company's internal controls and recommend improvements or enhancements to safeguard assets, prevent fraud, and ensure compliance.
• Collaborate with department heads to improve internal processes and implement corrective actions where weaknesses or inefficiencies are identified.
• Promote best practices for internal control and risk management across the organization.
• Present audit findings, concerns, and recommendations to senior management and relevant stakeholders.
• Prepare audit reports, summarizing the audit scope, methodology, findings, and management responses to audit observations.
• Follow up on the implementation of audit recommendations and track progress on resolving identified issues.
• Preparation of risk based audit plan in line with RBI guidelines
• Preparation of Audit Committee Agenda documents and its presentation to senior management and committee members
• Preparation of minutes of Audit Committee meetings
• Preparation and review of Internal Audit Charter, operating guidelines and relevant process notes
• Tracking for reviewal of Internal Audit policy and process documents at regular intervals
• Managing concurrent audit team and their monitoring their performance on continuous basis
• Monitoring and follow up with stakeholders and management for closure of previous audit observations
• Monitoring the back office team engaged in all internal Audit report publication, preparation of various MIS and document management process.
• Interaction with other external auditors and sharing the required information

Qualifications, Experience and Skills:

• Experience in managing or coordinating internal audits and implementing internal control frameworks.
• In-depth knowledge of auditing techniques, internal controls and financial systems.
• Excellent analytical skills and attention to detail to identify risks and inefficiencies.
• Strong verbal and written communication skills.
• Ability to handle confidential and sensitive information with integrity and discretion.

Personal Attributes:

• High level of integrity, ethics, and professionalism.
• Strong organizational and time-management skills.
• Ability to work independently, cross functional and manage multiple tasks simultaneously.
• Detail-oriented with a focus on accuracy and quality of work.
• Proactive in identifying and addressing issues before they become larger problems.
• Ability to build strong working relationships with various stakeholders.