VP AND AVP - Internal Audit
Job Description:
Job Description
Purpose of the Job:
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This IT audit position will interact with executives, officers and senior management across multiple businesses and operations of the entity. To provide independent and objective assurance on the management of risk throughout the organization using a robust audit framework. To evaluate the adequacy and effectiveness of management implemented controls with the objective of presenting to the management with analyses, appraisals and recommendations concerning the entities audited.
This is an execution role without any direct reportees. |
Describe the KPIs against each perspective
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Perspective |
Key Performance Indicators |
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Business |
§ Audit assignments completed versus planned § Departmental costs versus budget § Potential savings for organization identified through audits |
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Customer Focus |
§ Feedback from Board and Audit Committee § Coverage of key risks § Completion of audit as per schedule § Customer complaints versus commendations § Proportion of recommendations accepted |
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People / Team |
§ Attrition within organizational norms § Goal setting and appraisals as per organization policy § Skill development through structured training coverage |
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Process / Quality Improvement |
§ Process improvements implemented as a result of audits § Audit process improvement initiatives § Projects undertaken to drive process improvements |
Self deliverables
The most important tasks performed.
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Sr. No |
Task performed |
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1 |
Conducting risk assessments – identifying risks and evaluating controls for various functions and processes assigned. Developing subject matter expertise in the areas assigned. |
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2 |
Designing an Audit Plan and creating Audit Schedule |
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3 |
Conducting Audits as per the Schedule |
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4 |
Drafting high quality audit observations and Management reports on the audits conducted |
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5 |
Monitoring Corrective Action Plan to address the observations raised during audits and validating the closures |
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6 |
Providing updates to Head – Internal Audit |
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7 |
Conducting branch audits as per schedule |
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8 |
Documentation and maintenance of Audit work papers |
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9 |
Being updated with current internal audit trends and best practices in the industry. Ongoing enhancement of one’s skills and expertise by undergoing necessary trainings |
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10 |
Partnering with business in various project initiatives and providing independent inputs on the emerging risk and control issues. Engaging and adding value. |
Other factors relevant to the job
Other aspects of the job not covered by the above but necessary to have a full understanding of it are: (add additional sheets if required)
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Sr. No |
Other relevant factors (Required Skills) |
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1 |
Analytical and evaluation ability |
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2 |
Excellent Communication skills both verbal and written.. |
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3 |
Planning and process skills |
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4 |
Understanding of Compliance and Regulatory framework |
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5 |
Knowledge of functional processes in financial services |
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6 |
Ability and confidence to interact with senior levels of management. Able to logically and effectively present and hold on to his views. Ability to build relations with stakeholders |
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7. |
Ability to multitask and influence |
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8. |
Enthusiastic, motivated, self-starter, |
Expertise required/ Domain Knowledge: (Audit / Controls / OpRisk / Compliance) - Financial Services
No. of years of relevant experience: 7-15 years post qualification
Any specific specialization/education: Chartered Accountant / Masters Degree in any stream
Preference to Audit Certifications (CIA / CISA).
Key Skills :
Company Profile
| This section shall be updated later. for now this is being left blank. |
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