AM-Internal Audit

Job Description

Job Title

Assistant Manager– Business Senior Auditor

Grade

2 C

Level

Job Function

Internal Audit

Job Sub Function

Internal Audit – Business Senior Auditor

Reports to

In your role as an Business Auditor - Assistant Manager - Senior Auditor – within the Audit team you’ll be reporting into the Senior Manager in M&G Global Services Private Limited

Location

Mumbai

Business Area

M&G Global Services

Overall Job Purpose

Internal Audit is an independent, objective, assurance function that is critical to meeting our business ambitions whilst also protecting the interests of our customers by ensuring that the internal control, risk and governance frameworks are always fit for purpose. We look beyond financial risks and statements to consider wider issues such as the organisation's reputation, growth, its impact on the environment and the way we treat our customers and employees.

As an Audit Assignment team member you will be helping to deliver meaningful improvements across the business by engaging with stakeholders to identify risk and control improvements across a range of different business functions; helping you develop an understanding of the business as well as building confidence & presentation skills through exposure to Senior Management.

This is an Assistant Manager - Senior Auditor level role in the Internal Audit function for those with at least three to six years’ experience in financial services and/ or internal / external audit. The role is intended to bring the role holder up to the level where they have:

a good base level of understanding in the workings of both a Financial Services Group and an Internal Audit function; a good understanding of the behaviours required to succeed in a respectful workplace where teamwork is essential; an ability to understand key operational processes and controls, and identify operational risks inherent within them; an ability to plan and undertake specific audit tests to identify weaknesses in the control environment that exists to mitigate inherent operational risks; an ability to articulate effectively both orally and in writing; and, confidence to challenge assumptions and articulate findings to stakeholders.

Primary Key Responsibilities (Top 3-5 KRA)

To work under the direct supervision and guidance of the Community Lead/ Head of Audit/ Senior Audit Manager and Audit Manager/ Field Manager to generally achieve the following mainly for M&G Plc IA function and for the wider M&G Global Services.

Planning & Risk Assessment

Attending and running meetings with auditees to develop an understanding of business processes. Coordinating the collation and review of information in the areas of the audit for which you are responsible to help identify key risks, controls, and scope areas. Preparing elements of the key planning documentation such as audit planning memorandum, risk and control matrix including testing strategies as directed and required in accordance with the requirements of the Internal Audit Standards Manual. Update TeamMate+ records of processes, activity and risk as directed / required.

Audit Performance

Travelling to different sites when necessary to meet relevant staff and review documents and information. Take responsibility for the design and performance of audit testing across different business/operational areas as directed / required. Producing and maintaining audit files and working papers to a consistently high standard in accordance with the requirements of the Internal Audit Standards Manual. Treating the personal data of our customers, employees and other individuals lawfully and in accordance with current Data Protection laws, and other related legislation.

Audit Reporting

Discussing the results of audit testing and any resultant observations with stakeholders and/or the Field Manager on the audit assignment. Raising exceptions to inform observations and/or drafting observations to a very good standard in line with the requirements of the Internal Audit Standards Manual for inclusion in the draft report with minimal correction required. Proposing ratings for issues raised, and in some cases the overall report, in line with the requirements of the Internal Audit Standards Manual. Overseeing and reviewing the documentation of audit observations written by more junior team members. Where required; drafting other elements of final reporting such as summary and appendices to a good standard in line with the requirements of the Internal Audit Standards Manual such that minimal correction is needed. Performing issue assurance as directed and assisting with workflow process on MetricStream and TM+, and support coordination and monitoring of issue closure process.

Business Partnering

Discussing the audit testing to be performed with affected stakeholders. Assisting / leading in the discussion of the results of audit testing with stakeholders to agree observations to be raised. Building relationships with stakeholders through acting with integrity, professionalism, and respect at all times to ensure that the Internal Audit function is seen in the correct light.

Team Management

Where managing staff on assignments set clear objectives and expectations; and provide meaningful assignment appraisals to help develop more junior staff. Assisting and helping to train more junior members of the team in a constructive and productive manner. Providing constructive 360 feedback during audit and in post audit assignment debriefs and proactively seeking for feedback from colleagues in the function including from more junior colleagues. Develop a challenging but realistic personal development plan with your mentor manager. Developing good professional working relationships with colleagues behaving in a manner consistent with the Function’s Ways of Working document. Support effective time management and capacity planning, ensuring utilisation rates as per designated grade are achieved and timesheets are completed on time.

Audit Community

Actively participate in any Audit Community to which you belong. Proactively seek learning opportunities to develop knowledge and experience either through training or assignments. Contribute in team activities and treat colleagues with respect to contribute to a positive team environment. Comply with all mandatory conduct, training and disclosure requirements to help ensure that the Internal Audit function is not tarnished.

Need to demonstrate the following qualities:

be eager to learn, to take on new challenges, and to take ownership of your work; be able to build relationships to work collaboratively; be able to challenge, be challenged, and to value and respect the views of others; be willing to share your knowledge and ideas and ask for help when you need it; be able to review and process information quickly; and, be able to communicate clearly to meet the needs of your audience.

Additional Responsibilities :

Lead/ support M&G Global Services IA initiatives which will drive the IA function Support in one of the M&G Global Services Cross functional initiatives

Key Stakeholder Management

Internal

M&G plc IA

M&G Global Services IA

Business areas across the globe

External

Statutory Auditors and Business partners

Knowledge, Skills, Experience & Educational Qualification

Knowledge & Skills (Must Have):

Good knowledge of COSO framework Practical and theoretical knowledge of business risk and control frameworks specifically with regards to Insurance and Investments business. Experience of risk based auditing and clearly understanding the relationship between IT risk and underlying business risk Financial Services/ product knowledge, particularly within Insurance, Asset Management (e.g. Equities and Fixed Income) or Investment banking is desirable.  Prior audit experience in functional domains such as financial crime, anti-money laundering, investment management processes, compliance monitoring and program assurance. Ability to work effectively across a large audit team, understanding the team’s role in the overall strategy of the firm. Good knowledge of the principles of auditing and their application to the business within a risk based audit methodology. Strong organisational skills to take ownership of agreed targets to enable efficient completion of audit projects An innovative mind-set and the ability to develop ideas which are implemented and have a positive impact Written and verbal communication skills a must; strong interpersonal skills essential. Confidence & excellent communication. Must be able to multitask while managing both time and work load

Knowledge & Skills (Additional) :

Must be highly motivated with strong analytical skills, willing and able to learn new business and system processes quickly Good stakeholder management experience and ability to handle challenging discussions professionally

Experience:

Chartered Accountancy/CPA/CIMA/MBA/CFA/Post graduate qualification Certifications such as CISA, FRM, CIA would be beneficial At least 3-5 years of work experience in financial services or internal / external audit Required to have a good knowledge of the principles of auditing and their application to the business within a risk based audit methodology. Good working knowledge of any internal control framework.

Educational Qualification:

Degree and/or relevant professional qualification and/or relevant consulting or industry expertise.

M&G Behaviours relevant to all roles:

Inspire Others: support and encourage each other, creating an environment where everyone can contribute and succeed

Embrace Change: be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas

Deliver Results: focus on performance, set high standards and deliver with energy and determination

Keep it simple: cut through complexity, keep the outcome in mind, keeping your approach simple and adapting your message to every audience

We live by four behaviours at M&G Global Services and we ask all our employees to:

Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things

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