Head Internal Audit

Opening with a leading Banking company for their office in Mumbai

Role: Head Internal Audit

Experience: 12 Years+

Qualification

Must be a qualified Chartered Accountant with relevant professional certification ( CPA, CISA)

Role & responsibilities:

Relevant Industry Experience:

O Objective of the Role

The Head of Internal Audit will play a crucial role in ensuring the effectiveness and integrity of the Internal Audit function within the bank. The primary objective of this role is

• Enhancing Governance and Risk Management
• Strategic Alignment
• Operational Efficiency
• Compliance Communication
• Team leadership and development.

This role is critical in safeguarding the bank's assets and enhancing operational efficiency through independent evaluations and recommendations. The HIA will lead the 5representation of Bank in the ACB and will be responsible for overall functioning and compliance of the Audit Department.

Jo

1.Strategic Planning:

Develop and implement a comprehensive, risk-based internal audit plan aligned with the organizations strategic objectives to ensure effective oversight of operations and compliance.

2. Governance and Risk Management:

Assess the adequacy of governance frameworks and risk management processes, providing an objective opinion on their effectiveness in mitigating risks across the organization.

3.Internal Control Evaluation:

Evaluate the effectiveness of internal controls across various departments, ensuring compliance with internal policies, legal requirements, and industry standards.

4.Audit Execution:

Oversee the execution of internal audits, ensuring they are conducted systematically and based on sufficient, relevant, and reliable evidence. This includes supervising audit staff and ensuring adherence to professional standards.

5.Reporting:

Prepare detailed audit reports that highlight findings, risks, and recommendations for improvement. Present these reports to senior management and the Audit Committee.

6.Follow-Up on Recommendations:

Monitor the implementation of audit recommendations to ensure corrective actions are taken in a timely manner.

7.Collaboration with External Auditors:

Coordinate with external auditors during their assessments to provide necessary information and facilitate a smooth auditing process.

8.Training and Development:

Lead and mentor the internal audit team, fostering professional development and ensuring that team members are equipped with the necessary skills to perform their duties effectively.

9.Stakeholder Engagement:

Maintain regular communication with senior management and the board to provide updates on audit activities, significant risks, and emerging issues.

10.Compliance Monitoring:

Ensure compliance with applicable laws, regulations, and internal policies by conducting regular assessments and audits of operational practices.

11.Continuous Improvement:

Promote a culture of continuous improvement by identifying opportunities for enhancing operational efficiency through audit insights.

Required Skill Set:

• Risk Management Acumen
• In-depth knowledge of internal audit standards.
• Effective Communication and Interpersonal Skills
• Team Leadership and Stakeholder Engagement.
• Comprehensive understanding of relevant laws, regulations and compliance requirements specific to banking sector.
• Integrity
• Risk management & assessment
• Strategic Thinking
• Team management Skills
• Analytical &decision-making skills
• Awareness of all regulatory compliances
• Change management skills
• Stakeholder management

komal@topgearconsultants.com