Job Description

POSITION NAME

Senior Manager - Internal Audit & Operational Risk

DESIGNATION : Senior Manager

DEPARTMENT : Process Assurance and Risk Management (PARM)

SUB DEPARTMENT : Internal Audit & Operational Risk

REPORTING POSITION : L6, Assistant Vice President

OBJECTIVE OF THE ROLE

- The role will be responsible for conducting risk based audits and process design & control evaluation to facilitate oversight of the Risk Environment for the business and provide management with assurance that necessary controls are in place to mitigate risks.

KEY RESPONSIBILITIES :

Internal Audit :

- Conducting thematic audits as per the defined audit plan covering financial, compliance, reputational and operational impact areas

- Defining scope for audits allotted & ensure approach of audit is properly laid down and logistics appropriately planned

- Conducting detailed process and system walkthrough and field work to identify critical gap areas

- Use of data analytics & audit tool for driving completeness checks

- Timely discussion of audit queries with the auditee departments and preparation of audit reports

- To ensure all audit observations are mapped to process design or control execution improvements needed and tracked till end closure

- Co-ordination with co-sourced internal auditors and business teams to facilitate timely conduct and closure of reports

- Preparation and presentation of audit reports to Tier-I and Audit Committee

- Review of scheme and incentive payments to ensure correct payouts

- Review of various IRDAI/ statutory returns before filing

Operational Risk :

- Working closely and collectively with functional units to support management in ensuring key risks are identified, assessed, reported and managed;

- Coordinating and executing various risk initiatives such as Risk & Control Self Assessments (RCSA), Incident Reporting & Operational Loss reporting;

- Develop and continuously monitor Risk awareness across the organization;

- To report to the Risk Management Committee on regular basis on Risk Management Activities of the company;

- Managing IFC framework review for the company in coordination with the IFC auditor

- Review of product setup in the core system and various peripherals

- Detailed review of all existing policies/processes, to provide inputs for improvement from a risk & efficiency point of view

- Preparation of swim-lane flow charts & RACI matrix towards process simplification and define process ownership

- Review of scheme and incentive payments to ensure correct payouts

- Review of various IRDAI/ statutory returns before filing

INTERACTIONS

Internal Relations:

- Interacting with multiple internal stakeholders in the Company

External Relations:

- Co-sourced auditors and vendors

REQUIRED QUALIFICATION AND SKILLS

Educational Qualifications: CA

Work Experience: 0 - 3 years

Certifications: : Risk related certifications would be preferred

Other skill set:

- Excellent T-SQL, VB and advanced Excel skills to manipulate data, write macro\'s, etc.

- Ability to relate to business processes, system set-ups and carry out independent gap assessment

- Strong Analytical and problem solving aptitude

- Excellent communication skills - both verbal and written;

- Strong Interpersonal Skills required to connect with people

IIM Jobs