Vertical Head - Management Audit & Assurance Services

Job Description

Vertical Head - Management Audit & Assurance ServicesJob Objective :- To lead the internal audit and risk functions for target set of businesses of the Group providing oversight for audit policies and procedures- To adapt best-in-class systems and processes to enable effectiveness and efficient governance, compliance and controls for both projects and assets- To enforce and encourage good governance practices and preserve, protect and enhance the welfare of all business stakeholders and shareholdersRoles and Responsibilities :Strategy :- Own and lead business understanding for identification of risk, audit and assurance and define operating model for the respective businesses, in line with group audit philosophy- Define organization structure, roles, and accountabilities for all target MA&AS roles in the business- Prioritize and define scope of internal audit and risk framework for the business, oversee deployment and compliance in close collaboration with the BU Audit and Assurance Lead- Own and manage end-to-end process of co-source partner selection, onboarding, management and review- Design annual assessment and reporting process and provide overall guidelines on adequacy, effectiveness and timely execution of systems and controls of audit and risk across constituent business units and sites- Determine budget requirements of audit engagements for both projects and assets, aggregate to define sector-level budget and finalize budget with the MA&AS Head and Business leadershipOperations :- Own and manage implementation of corrective and preventive actions (CAPA) through defined plans across the target businesses- Engage with Business CEOs and leaders to identify auditable entities and define target audit universe such as BU/product/service/system/process/etc.- Define the annual (and other) audit calendar basis criticality, frequency and size of different audit engagements and entities in partnership with the Group MA&AS Head and Business CEOs and inputs from BU and Site leads- Identify and outline associated risks in target business, conduct risk assessment workshops with senior management to understand risks, including causes, controls, likelihood & impact- Analyse risk data and define a risk classification matrix, segregating risks based on likelihood & impact for inputs to Group Head- Review audit programs and checklists prepared for engagements and provide inputs/ approval; Oversee smooth execution of audits in respective BU/site, manage escalations and resolve conflicts pertaining to non-acceptance of findings- Enforce and monitor adherence to established systems and procedures to regulate quality and effectiveness of resolution measures, oversee timely closure of audit observationsRisk Management :- Own and define common risk assessment framework for the BU encompassing strategic, project/ bid, operations, organizational risks, and ensure a common language for risk identification, analysis and evaluation- Provide guidance on all BU-compatible risk response strategies and various considerations for decisioning on risk response methods; review risk response plans for effectiveness & efficiencies- Support Group MA&AS Head to establish and implement risk governance mechanisms and forums for risk monitoring- Support respective business CFOs in identification and management of key metrics and specific risk areas such as market risk, operational risk, liquidity risk, etc.- Periodically review risk performance reports and scorecards across all aspects of risks (strategic, project, operations, etc.) and highlight non-compliances if anyPartner Management :- Support identification, and evaluation of prospective partners for co-sourcing/ out-sourcing audits- Oversee project plans for audit engagements in scope, in line with agreed contract clauses- Support Group MA&AS Head to define partner governance framework establishing structured partner performance review mechanisms- Lead Partner SLA & performance monitoring through periodic performance reviews at checkpoints to review delivery against target SLAs- Conduct periodic meetings with statutory auditors (along with Audit Committee) regarding BUs internal audit universe, scope of audits, risk assessment updates and internal audit plans and scheduleExperiences :- Minimum 15 years of work experience with 5+ years in a similar role of leading the internal audit and/or risk department in a large/ mid-sized organization- Exposure to market landscape, business operating model and processes in specific industry/sector- Experience of defining, implementing and governing internal audit strategy, framework and policy- Ability to understand business process and carry out the process documentation in an analytical and meticulous manner- Exposure to framework, tools & techniques pertaining to enterprise controls- Expertise in managing and aligning multiple senior leadership stakeholders,

Keyskills :
salesdrivingmarket riskcustomer servicemarketing