Head Internal Audit (HIA) Jobs in Noida at Career Carnival LLP

Last Updated: Jan 15, 2021 05:05 IST


Company Name
Career Carnival LLP
Job title
Head Internal Audit (HIA)
15-20 Years
Not Mentioned

Job Profile

Job Purpose:
The HIA shall have overall responsibility for coordinating the identification of control gaps in the first line of defence, the second line of defence, the vigilance function as well as supervising the activities of other internal audit function staff. The HIA shall have the ability to interpret and articulate the various control gaps in an understandable manner to effectively engage the board, ACB, management in constructive dialogue on key control gap issues


The internal audit function and its functionaries shall:
 1. be accountable and report only to the board through the ACB; 
2. be independent of audited activities i.e., have no responsibilities related to the first line of defence, the second line of defence and the vigilance function; 
3. audit all activities undertaken by the first line of defence, the second line of defence and the vigilance function; 
4. have sufficient standing, skills, resources and authority within the bank to enable auditors to carry out their assignments effectively and objectively; 
5. collectively have or can access knowledge, skills and resources commensurate with business activities and risks of the bank; 
6. require internal auditors to adhere to professional standards applicable in India; 
7. have full unconditional access to records, physical properties of the bank and entities with which there are outsourcing engagements, including access to management information systems, minutes of all consultative/decision-making bodies; 
8. provide an independent assurance to the board, through the ACB on quality and effectiveness of internal controls put in place by the first line of defence 
9. provides independent assurance to the board, through the ACB on effectiveness of risk management, compliance, vigilance, governance systems and processes; and 
10. be able to ensure timely as well as effective correction of audit issues by senior management through escalation processes including enforcement and disciplinary process including dismissal

In addition to above, he is further responsible:

1. Develop the internal audit strategy and plan in line with the organizational strategy to ensure alignment with other interfacing divisional strategies across the bank 
2. Ensure that the internal audit plans are developed, implemented and are aligned with the vision and mission of the bank 
3. Develop and oversee the implementation of internal audit policies, procedures and controls covering all areas of Audit division activity so that all relevant procedural/regulatory requirements are fulfilled 
4. Oversee the consolidation of and recommend the Internal Audit division budget and monitor the budget to ensure adherence 
5. Formulate and resource a risk based annual audit plan in consultation with the Audit Committee and management and monitor the execution of the annual audit plan 
6. Develop an audit methodology for risk assessment and manual aligned to the audit plan 
7. Plan and conduct risk based audits, thematic reviews and investigations mandated by the Audit Committee 
8. Communicate audit results and provide required assurance in line with Audit Committee expectations 
9. Review and monitor the concurrent and management activities of the Bank 
10. Facilitate the Heads of Department to arrive at appropriate action plans involving the identification of new controls and remediation of existing ineffective or weak controls and follow-up on the action taken 
11. Issue periodic reports (on a timely basis) to the Audit Committee Board and Senior Management summarizing results of audit activities. 
12. Maintain adequate audit staff strength with sufficient knowledge, experience, professional qualifications and appropriately skilled resources to deliver as per the plan. 
13. Inform the Compliance team and Vigilance team of any suspicion of material regulatory non-compliances and assist in the investigation of suspected fraudulent activities 
14. Develop key performance indicators (KPIs) for assessing performance of Internal Audit Department and report against these to the Audit Committee 
15. Assess the risks arising due to new products/processes or modifications to existing products/processes to suggest adequacy and appropriateness of key controls embedded therein
16. Draw up a risk matrix of inherent and control risks 
17. Review and report the adequacy and stress testing of the Bank's control environment 
18. Promote the highest standards of ethics and standards across the Bank based on principles of integrity and confidentiality 
19. Provide advice on internal control and participate in enhancing internal audit standards and practices within the Bank 
20. Conduct periodic training workshops to promote awareness of internal controls and discuss changes in policies that will impact the Bank 
21. Coordinate with external auditors to ensure that all required documents are provided for the external audit

22. Ensure that the employees within the division maintain the highest standards of professional conduct, ethics, integrity, and control in execution of all their daily operations 
23. Drive a performance driven culture in the team by timely monitoring, review of performance parameters and feedback to the team members 
24. Take overall responsibility for identification of training needs and completion of mandatory training programs/certifications for self and reportees 
25. Mentor and coach subordinates to develop the team's capabilities and build a robust succession pipeline 
26. Ensure that the all the departments reporting to him/her are adequately staffed as per the manpower requirements
27. Ensure high level of employee engagement and retention of key performers Any other additional responsibility could be assigned to the role holder from time to time as a standalone project or regular work. The same would be suitably represented in the Primary responsibilities and agreed between the incumbent, reporting officer and HR.

Experience & Educational Requirements:

Educational Qualification Include Additional Certification if any:
  • Chartered Accountant/Cost Accountant mandatory with other allied qualifications. As per section 138 of the companies Act, 2013.
Relevant Experience:
  • Minimum of 15 years of experience in Bank or financial institutions with at least 4-5 years in internal audit/risk/ compliance. Should have team managing experience for 4-5 years

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Key skills
Internal Auditor, Risk, Compliance, Risk Assessment, Cost Accountant
Banking/ Accounting/ Financial Services
Minimum of 15 years of experience in Bank or financial institutions with at least 4-5 years in internal audit/risk/ compliance. Should have team managing experience for 4-5 years
Last Date

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