Associate Manager - Internal Audit

JOB PURPOSE

The role is responsible for auditing the operations and financial areas within the organization to ensure accuracy and compliance with policies, procedures, laws & statues and applicable local laws and regulation, good business practices, government guidelines and laws. The role will identify and report on findings, as well as make recommendations to improve policies or procedures accordingly including governance, risk management processes and smooth execution of Monthly / Quarterly/ yearly audit plan.

ORGANISATION CHART

Sr. Lead-MAG --> Junior Manager-MAG --> Reports To --> Position Title

KEY ACCOUNTABILITIES

Responsibilities

Key Performance Indicators (KPIs)

Preparation of Audit Universe & annual audit plan

• Draft Audit universe & annual audit plan submission

Undertake Audits, Special assignments

• Submit draft reports

Review Pre-audits

• Review pre-audits and tracker maintained for pre-audit to ensure adherence to turn-around time.

Internal financial controls

• Co-ordinate & Provide support to outsourced auditors in performance of control checks

Data Analytics & Reporting

• Use SAP and Idea tool for analyzing voluminous data to provide audit assurance

Co-sourced auditors work certification and performance evaluation

• Timely invoice processing and service entry in SAP.
• Performance evaluation of auditors on quarterly basis.

Use of AI tool

• Uses technology in audits viz. Copilot, Power BI etc.

Audit Reports & Compliance Status Monitoring

• Timely updation of LARS
• Closure of open audit observations

Represent MAG in Scrap committee meetings & Business excellence meetings

• Provide objective process related inputs in the meetings

MAG Efficiency and Effectiveness

• Ensure compliance to MAG Operations Manual.
• Continuous Learning through knowledge sharing sessions

KEY ACCOUNTABILITIES - Additional Details

EXTERNAL INTERACTIONS

• Statutory Auditors: for quarterly audit & Yearly audit providing the relevant IFCs through Finance and Accounts team.
• Consultants: To take the stock of audit progress on daily /weekly basis for conclusion and materialization into audit report.
• Various external parties: for reconciliation of bills processing and knowledge additions.

INTERNAL INTERACTIONS

• Various audit teams for audits/ special assignments /documents verification, follow-ups and report discussion.
• MAG team members of other Group Companies for obtaining MIS, Audit reports, knowledge sharing sessions, changes in audit processes ensuring uniformity in audit practice.

FINANCIAL DIMENSIONS

• Annual Budget excluding employee cost: Rs.12,000 crores
• Execution of audits / special assignments as per annual audit plan

OTHER DIMENSIONS

• Co-ordinate with Outsourced team members 10-12 team members

EDUCATION QUALIFICATIONS

• CA

RELEVANT EXPERIENCE

• Minimum 2-3 years’ experience in Audit, Assurance and Risk Management.
• Audit planning & execution
• Working Knowledge of SAP
• Hands-on experience in data analytics
• Inter-personal skills for handling Auditees
• Familiar with usage of technology in audits – Power BI & AI tools like Copilot, Chatgpt.

COMPETENCIES

• Risk Management (Practitioner)
• Audit Outcomes and Assurance Coordination (Practitioner)
• Audit Planning (Practitioner)
• Organizational Governance and Regulatory Compliance (Practitioner)
• Networking
• Personal Effectiveness
• Teamwork & Interpersonal influence
• Stakeholder Focus
• Entrepreneurship
• Capability Building
• Social Awareness
• Planning & Decision Making
• Execution & Results
• Strategic Orientation
• Problem Solving & Analytical Thinking