- To conduct reviews of operations, functions, finances, management, and compliance within the company that will enable it to drive forward in achieving its mission and vision.
- To work in co-ordination with Internal Audit Head and overlook function of Operational and Functional Audit.
Responsibility:
- Risk Assessment
- Identifying and analyzing risks to the achievement of objectives, ensuring that the organization understands the risks it faces and takes steps to address them
- Identifying significant risks (financial, operational, compliance)
- Assessing the likelihood and impact of each risk
- Determining risk mitigation strategies
- Ensuring that new or emerging risks are regularly reviewed
- Control Activities
- The actual policies and procedures are implemented to mitigate risks and achieve objectives.
- Information and Communication
- Ensuring the right information flows through the organization, so employees can perform their duties effectively and decisions are based on accurate data.
- Clear communication of policies, procedures, and responsibilities to all levels of the organization.
- Timely dissemination of relevant information to management for decision-making.
- Monitoring Activities
- Regular assessments of the internal control system to ensure it remains effective and aligned with the organization's objectives.
- Ongoing monitoring of day-to-day activities (e.g., reconciliations, reviews).
- Periodic internal and external audits to assess the effectiveness of controls.
- Tracking and addressing any identified issues or weaknesses promptly.
- Continuous improvement of internal controls based on audit results or process reviews.
- Compliance with Laws and Regulations
- Ensuring the organization adheres to applicable laws, regulations, and internal policies, particularly in areas such as finance, health and safety, data protection, and environmental standards.
- Regular updates and training on compliance requirements.
- Compliance audits and assessments.
- Policies and procedures to prevent legal violations and regulatory breaches.
- Regularly monitoring changes in laws and regulations to keep controls updated.
- Operational Efficiency and Effectiveness
- Ensuring that operations are performed efficiently and that resources are used in an optimal manner to achieve the organization’s goals.
- Streamlining processes to reduce redundancies and inefficiencies.
- Identifying areas where processes could be automated for greater efficiency.
- Regularly Reviews of Departments MIS to make sure completion of KPI’s on timely manner.
Qualification:
An ideal Manager – Internal Audit should have At least 7 to 9 years of experience in internal audit or related roles such as external audit, risk management, or compliance with Strong analytical, problem-solving, and critical-thinking skills.
