Job Description

Position

Senior Manager - Internal Assurance

Incumbent

Department

Internal Assurance

Function

Internal Assurance

Reporting to

Assistant Vice President - Internal Audit

Band

Band 3

JOB SUMMARY

Internal Audits

Responsible for developing a risk based plan and strategy for Audits including Audits of branch locations in line with the expectations of Audit Committee and Senior Management. Identify and incorporate emerging risk areas and continuously review the approach and methodology to add value to the business. Continuously monitor and ensure adherence to the plan and adherence to the documentation requirements.

Assurance

Responsible for devising a strategy for testing of internal controls across the key organizational functions in line with the requirements of Companies Act and Ensure timely and effective completion of testing of the design and operating effectiveness of Internal Controls.

Devising and executing a plan focused around identification of significant frauds and misconducts through deployment of data analytics. Conducting management assurance projects to address emerging key risk items.

KEY RESPONSIBILITIES

Internal Audits:

• Prepare a comprehensive risk based plan and strategy and monitor adherence to plan to add value to the business.
• Liaise and manage consultants for completion of audits.

Internal Control Framework Testing:

• Devise a strategy for testing of internal controls across the key functions in line with the requirements of Companies Act.
• Ensure timely and effective completion of testing of the design and operating effectiveness of Internal Controls.

Management Assurance

• Devise and implementing a plan for fraud detection analytics.
• Identify emerging areas and plan dipstick reviews/management assurance projects

Stakeholder and Audit Committee Management

• Engage with the key stakeholders on periodic basis to understand their expectations, seek feedbacks.
• Provide periodic update to the stakeholders.
• Ensure preparation of timely and effective update to the audit/risk committee.

MEASURES OF SUCCESS

• 100% adherence to \'Audit Plan\'
• Work-paper management as per quality standards
• Provide timely and periodical update to SLT / EMC/Audit and Management Committees.
• Work towards continuous improvement of efficacy of IA function through use of technology and strategy refinement.
• Contribute towards refinement of cross functional strategies including automation initiatives.
• Meet key stakeholders on at least quarterly basis to provide update on the key findings.
• Engage with the stakeholders for timely implementation of audit recommendations.

Key Relationships (Internal /External) * Max Life Senior Leadership Team

• Senior & Middle Level Management across all organizational functions.
• Industry Peers
• External Auditors
• Professional institutes like Institute of Chartered Accountants of India, Institute of Internal Auditors etc.

DESIRED QUALIFICATIONS AND EXPERIENCE

• Chartered Accountant with minimum 7 years of related experience (post qualification)
• In -depth knowledge of financials, auditing principles and internal controls
• Financial acumen and numerate
• Strong leadership and ability to connect with people
• Analytical and problem solving ability
• Good communication and presentation skills
• Relevant experience in financial services/insurance sector is desirable

Position

Senior Manager - Internal Assurance

Incumbent

Department

Internal Assurance

Function

Internal Assurance

Reporting to

Assistant Vice President - Internal Audit

Band

Band 3

JOB SUMMARY

Internal Audits

Responsible for developing a risk based plan and strategy for Audits including Audits of branch locations in line with the expectations of Audit Committee and Senior Management. Identify and incorporate emerging risk areas and continuously review the approach and methodology to add value to the business. Continuously monitor and ensure adherence to the plan and adherence to the documentation requirements.

Assurance

Responsible for devising a strategy for testing of internal controls across the key organizational functions in line with the requirements of Companies Act and Ensure timely and effective completion of testing of the design and operating effectiveness of Internal Controls.

Devising and executing a plan focused around identification of significant frauds and misconducts through deployment of data analytics. Conducting management assurance projects to address emerging key risk items.

KEY RESPONSIBILITIES

Internal Audits:

• Prepare a comprehensive risk based plan and strategy and monitor adherence to plan to add value to the business.
• Liaise and manage consultants for completion of audits.

Internal Control Framework Testing:

• Devise a strategy for testing of internal controls across the key functions in line with the requirements of Companies Act.
• Ensure timely and effective completion of testing of the design and operating effectiveness of Internal Controls.

Management Assurance

• Devise and implementing a plan for fraud detection analytics.
• Identify emerging areas and plan dipstick reviews/management assurance projects

Stakeholder and Audit Committee Management

• Engage with the key stakeholders on periodic basis to understand their expectations, seek feedbacks.
• Provide periodic update to the stakeholders.
• Ensure preparation of timely and effective update to the audit/risk committee.

MEASURES OF SUCCESS

• 100% adherence to \'Audit Plan\'
• Work-paper management as per quality standards
• Provide timely and periodical update to SLT / EMC/Audit and Management Committees.
• Work towards continuous improvement of efficacy of IA function through use of technology and strategy refinement.
• Contribute towards refinement of cross functional strategies including automation initiatives.
• Meet key stakeholders on at least quarterly basis to provide update on the key findings.
• Engage with the stakeholders for timely implementation of audit recommendations.

Key Relationships (Internal /External) * Max Life Senior Leadership Team

• Senior & Middle Level Management across all organizational functions.
• Industry Peers
• External Auditors
• Professional institutes like Institute of Chartered Accountants of India, Institute of Internal Auditors etc.

DESIRED QUALIFICATIONS AND EXPERIENCE

• Chartered Accountant with minimum 7 years of related experience (post qualification)
• In -depth knowledge of financials, auditing principles and internal controls
• Financial acumen and numerate
• Strong leadership and ability to connect with people
• Analytical and problem solving ability
• Good communication and presentation skills
• Relevant experience in financial services/insurance sector is desirable

Max Life Insurance