Associate Manager - Internal Audit

Job Summary

Quality Assurance (QA) represents the Second Line of Defence and provides independent assurance on Balance Sheet Substantiation submitted by the First Line Account Owners.

QA will review and challenge the quality of substantiations/reconciliations and aims to perform oversight through their reviews, to ensure satisfying the assertions of existence, completeness, accuracy, cut off, valuation and presentation of the balances established.

Assurance Testing & Sprint/Thematic Reviews

• Perform Balance Sheet Assurance Reviews in alignment with the Framework to ensure compliance with relevant policies and financial controls

• Identify key risks and control weaknesses, escalating issues and collaborate with CFO / Financial Controller / Head Finance / Business Head / Account Owner to agree on actionable mitigation plans / recommendations for resolution

• Conduct Agile/Thematic Assurance Reviews to assess specific financial risk areas and evaluate process, control design and operational effectiveness

Risk Mitigation

• Clearly assess risks and their potential impact, ensuring they are effectively communicated with account owners and promptly addressed

• Collaborate with key stakeholders to develop mitigation plans and action steps to resolve identified issues

Risk Reporting & Escalation

• Provide risk review outcome/ MIS to Risk forums (FORTM, FRC etc).

• Ensure timely escalation of issues and follow up on agreed remedial actions to minimize financial and operational risks

• Interact with Senior stakeholders in Finance on significant observations

Key Responsibilities

Process Improvement & Automation

• Promote a culture of continuous improvement and Identify opportunities for process enhancements, implementing best practices within the unit

• Work with the Process Improvement & Automation Team to develop and implement automation solutions for repetitive tasks and control monitoring

Audit & Compliance Support

• Support internal audit processes, ensuring compliance with financial control policies and regulatory requirements.

• Assist in preparing audit deliverables, responding to audit queries, and implementing corrective actions based on audit findings.

• Ensure that Financial Control Policies of the Bank are well understood and adhered while performing the reviews

Skills and Experience

• Strong knowledge of accounting terminology and concepts and ability to apply the rules of accounting and double entry book-keeping in evaluating the Trial Balance

• Demonstrates reasonable understanding of Financial Controls / Policy to be able to highlight issues involving Financial / Operational Risk

• In-depth understanding of risk management and associated control requirements

• Ability to articulate risk commentaries and effective communication

• Confident and courageous to raise and escalate ideas or concerns in a professional and timely manner

• Highlights probable process improvement areas and any activities which may have a scope for enhanced review procedures

• Builds strong relationship with internal customers, understands the best practices across geographies

• Does not accept status quo and finds better ways of doing things

• Demonstrates proficiency in MS Excel and PowerPoint, Relates the tools with day-to-day task performed to recommend ways to minimize unwanted step and optimize business operations

Qualifications

Qualified Chartered Account with a minimum of 2 - 4 years of post-qualification experience in Finance, Audit, or similar area and University degree – Masters / MBA preferable in Finance or Accounting. People having work experience in banking/multinational companies / Big 4s are preferred

Added advantage:

• Ability to self-review, identify issues and investigate / escalate appropriately

• Effective collaborative skills that contribute to positive working relationships with Finance/Business in country

• High level of computer literacy and understanding of business computing environment