Internal Audit- Lead

Qualification: CA with 5 years of experience in Internal Audit and Internal Financials Controls Audit

Job Description: Internal Audit, Internal Financial Controls (IFC) & SOP Governance

Roles & Responsibilities

A. Internal Financial Controls (IFC) Testing & Compliance

1. Apply the IFC framework to identify, design, and document key controls across business processes.
2. Prepare and update Risk and Control Matrices (RACMs) in line with process changes and audit observations.
3. Perform design and operating effectiveness testing for all key controls, including remediation and retesting as per the audit plan.
4. Maintain comprehensive testing workpapers and documentation in prescribed formats to ensure audit readiness.
5. Identify and document control deficiencies, prepare a gap tracker, and coordinate with process owners / HODs to define action plans and closure timelines.
6. Monitor and update IFC control gap remediation and action plan implementation trackers to ensure timely resolution.
7. Assist in management certification of IFC effectiveness and provide required support for statutory audit and SOX-type reviews (if applicable).

B. Internal Audit & Management Assurance Reviews

1. Conduct end-to-end internal audits and assurance reviews covering operational, financial, and compliance processes.
2. Develop / update audit checklists, risk-based audit programs, and process review templates before commencement of each audit.
3. Conduct process walkthroughs, identify control design gaps, and assess the adequacy of risk mitigation measures.
4. Coordinate and manage internal/external audit engagements, ensuring smooth execution, timely data availability, and issue resolution.
5. Review audit progress and deliverables, including weekly/bi-weekly review meetings with audit partners or process owners.
6. Review and finalize draft audit reports, ensuring comprehensive coverage, factual accuracy, and actionable recommendations.
7. Participate in audit closure meetings, ensuring management responses include detailed action plans and clear implementation timelines.
8. Track and monitor implementation of audit recommendations through structured follow-ups and validation reviews.

C. Standard Operating Procedures (SOP) Development & Governance

1. Collaborate with process owners to draft, review, and standardize Standard Operating Procedures (SOPs) for critical business processes.
2. Ensure SOPs clearly articulate process objectives, roles & responsibilities, control points, escalation mechanisms, and documentation requirements.
3. Align SOPs with IFC control frameworks, audit findings, and industry best practices.
4. Review existing SOPs periodically to ensure they remain current, compliant, and aligned with policy or system changes.
5. Facilitate training and awareness sessions with process teams to communicate new or revised SOPs and embed control awareness.
6. Maintain a central SOP repository and ensure proper version control and authorization procedures.
7. Support management in creating process flowcharts and RACI matrices to enhance process transparency and accountability.

D. Audit Issue Follow-up & Continuous Improvement

1. Track open audit issues and control gaps, ensuring closure within the committed timelines.
2. Perform validation testing post-remediation and formally close gaps after confirming effectiveness.
3. Prepare periodic MIS reports and dashboards highlighting IFC status, audit progress, and issue closure trends.
4. Identify opportunities to enhance audit and IFC efficiency through automation, analytics, or process redesign.
5. Support continuous improvement initiatives by recommending enhancements to control design, testing methodology, and documentation standards.

E. Desired Skills & Competencies

• Strong understanding of Internal Audit Standards, COSO / IFC framework, and risk management principles.
• Experience in process documentation and SOP drafting with attention to detail and control integration.
• Good knowledge of Business, financial, operational, and IT processes.
• Strong analytical and report-writing skills with the ability to communicate effectively with senior management.
• Proficiency in MS Excel, PowerPoint, and audit/data analytics tools (e.g., ACL, IDEA, Power BI).
• Ability to manage multiple reviews simultaneously with strong project management and stakeholder engagement skills.Role & responsibilities