Title: Senior Associate - Internal Audit, Risk Assurance & Compliance

Location: Thane (but traveling to client site will be required anywhere within and outside Mumbai)

Job Type: Full-time

Reports to: Project Lead-in-charge / Partner

Firm Overview

KVAT & Co is a business consulting and auditing firm specializing in corporate governance, risk management, compliance, monitoring services, technology, and training. Established in 2020, the firm has rapidly grown from a pioneering partnership into a robust team of professionals serving clients across diverse industry segments. Our operations have scaled significantly to meet the evolving needs of leading organizations, while our global perspective ensures we deliver solutions aligned with international best practices and regulatory standards.

Job Summary

We are seeking a highly skilled and proactive Senior Associate for our Internal Audit, Risk Assurance, Corporate Governance & Compliance Practice.

The ideal candidate will have hands-on experience executing internal audits, IFC/ICFR reviews, risk assessments, compliance audits, and governance advisory assignments across diverse industries such as manufacturing, retail, technology, services, logistics, healthcare, infrastructure, FMCG, and others.

This role requires strong understanding of internal control systems, enterprise risk management, compliance frameworks, process optimization, and emerging themes such as ESG, technology risk, data governance, and digital transformation.

Key Responsibilities

Internal Audit & Risk Assurance
Execute risk-based internal audits, operational audits, and process reviews across business functions such as Finance, Procurement, Sales & Distribution, Supply Chain, HR, IT, and Operations, etc.
Evaluate internal controls and operational efficiencies across end-to-end processes.
Perform Internal Financial Controls (IFC/ICFR) testing as per COSO framework and applicable standards.
Conduct audits related to revenue assurance, inventory management, fixed assets, procurement-to-pay (P2P), order-to-cash (O2C), and record-to-report (R2R), etc.
Lead audit fieldwork, identify control gaps, map risks, and recommend remediation and process enhancements.
Develop audit plans, Risk Control Matrices (RCMs), and audit work programs tailored to client requirements.
Governance, Risk & Compliance (GRC)
Support clients in strengthening governance frameworks, policies, and compliance processes.
Assist in drafting and reviewing policies, Delegation of Authority, Risk Management, SOPs, and internal governance charters.
Conduct compliance audits, regulatory gap assessments, and implementation reviews based on industry-specific regulations, statutory requirements, and internal guidelines.
Support compliance management framework implementation including compliance mapping, monitoring, reporting, and testing.
Assist in development and review of Business Continuity Plans (BCP), Disaster Recovery Plans (DRP), and governance structures.
Enterprise Risk Management (ERM)
Support clients in establishing or strengthening ERM frameworks aligned with leading practices (COSO ERM, ISO 31000).
Conduct Risk Control Self-Assessments (RCSA), build risk registers, and support Key Risk Indicator (KRI) monitoring.
Facilitate risk workshops, stakeholder discussions, and reporting to senior management, Audit Committees, and Boards.
Provide insights across Operational Risk, Strategic Risk, Technology Risk, Compliance Risk, and Financial Reporting Risk.
ESG, Technology & Emerging Risks
Participate in ESG readiness assessments, sustainability reporting reviews (e.g., BRSR), materiality assessments, and ESG process audits.
Assist in technology risk assessments including IT General Controls (ITGCs), cybersecurity, data privacy, and third-party risk assessments.
Support data analytics-driven audits using tools such as Power BI, SQL, Power Query, and advanced Excel to identify anomalies, trends, and insights.
Contribute to assignments related to automation, digital transformation, and process re-engineering.
Reporting, Client Management & Knowledge Building
Prepare high-quality audit reports, dashboards, presentations, and executive summaries.
Ensure timely project execution and quality assurance for all deliverables.
Engage with client stakeholders, business process owners, and senior management throughout engagements.
Contribute to internal training, thought leadership, and knowledge-sharing initiatives.

Technical Skills

Internal Audit, Risk-Based Auditing
IFC/ICFR Testing
Operational Audits
Risk Advisory
Compliance Audits
ERM Frameworks
ESG Advisory
SOX/SOX Readiness (an advantage)

Domain Knowledge

Understanding of core business processes across industries
Knowledge of Finance, Operations, Supply Chain, HR, IT, and Corporate Governance frameworks
Knowledge of statutory regulations such as Companies Act 2013, SEBI/ MCA guidelines, ISO standards, and industry-specific compliance requirements

Regulatory Knowledge

COSO Framework
Companies Act 2013
Applicable industry regulations and standards
IIA Standards

Tools & Analytics

Advanced Excel, Power BI, Power Query, SQL
Data analytics and automation tools (Tableau, ACL/IDEA preferred)
ERP or audit software experience (SAP, Oracle, Tally, etc.)

Soft Skills

Strong analytical thinking and problem-solving ability
Excellent verbal and written communication
Stakeholder management and client engagement skills
Team collaboration and leadership ability

Qualifications

Bachelor's degree in Business Administration, Commerce, Finance, Accounting, or related field.
2 to 5 years of experience in internal audit, risk, compliance, or related areas.
Semi-qualified CA / MBA / B.Com / equivalent with relevant experience.
Experience in consulting firms preferred.
Diverse industry exposure is an advantage.

Benefits

Competitive compensation with performance-linked incentives
Opportunities for learning, development, and career advancement
Collaborative and inclusive work environment

CTC

As per industry standards and candidate experience

Skills: risk,analytics,process review,process improvement,internal audit,ifc,reporting,observation,compliance,management,recommendation,data,internal financial control,risk assessment,risk management