Corporate Internal Controls

Larsen & Toubro (L&T); Mumbai; On-site; INR 1,200,000 - 2,000,000; Full time

Job summary

Larsen & Toubro Ltd invites applications for an Internal Control/Internal Audit specialist in Powai, Mumbai. Based at Powai, you will strengthen Internal Financial Controls, review processes, and drive remediation of audit observations while implementing preventive controls across the organization.

The role requires 3–6 years in Internal Control/Internal Audit/Risk & Compliance, CA qualification, and preference for CISA/DISA.

Qualifications

• 3–6 years in Internal Control, Internal Audit or Risk & Compliance.
• CA qualification required; CISA/DISA preferred.
• Experience with Internal Financial Controls (IFC) and Companies Act 2013 desirable.
• Experience in data analytics in auditing is a plus.

Responsibilities

• Facilitate review of RACMs considering changes in external & regulatory environment, adoption of technology and strengthening controls.
• Strengthening IFC framework and benchmarking with other ICs and companies in the industry.
• Review internal audit reports and identify observations relating to internal controls and support remediation by implementing preventive controls.
• Prepare and present monthly reports on key audit observations to Management.
• Support standardization and implementation of best practices across the organization by releasing Guidelines, Policies & SOPs.
• Carry out regular testing of operating effectiveness of key controls and processes to identify gaps and suggest remediation.
• Create awareness about internal controls, prevention & detection of fraud risks.
• Promote ethical behaviour and work culture.

Skills

Internal Controls

Internal Audit

Risk & Compliance

Data Analytics

Education

CA (Chartered Accountant)

Tools

ERP systems

Job description

About Organization:

Larsen & Toubro Ltd, commonly known as L&T, is an Indian multinational conglomerate company, with business interests in engineering, construction, manufacturing, technology, information technology and financial services, headquartered in Mumbai.

The company is counted among world's top five construction companies.

The L&T Group comprises of 93 subsidiaries, 5 associate companies, 27 joint ventures and 35 jointly held operations, operating across basic and heavy engineering, construction, realty, manufacturing of capital goods, information technology, and financial services.

Job Location: Powai, Mumbai

Working Model: Work from office

Operating Model: 6 days (2nd and 4th Saturdays Off)

Educational Qualifications: Chartered Accountant (CA)

Technical Qualifications: CISA / DISA preferred

Experience: 3-6 years in Internal Control / Internal Audit / Risk & Compliance

PURPOSE:

• Maintain, strengthen, benchmark and upgrade Internal Financial Controls (IFC)
• Support systemic remediation of audit observations and implement preventive controls
• Business Process transformation and implementing Next Generation Controls
• Create corporate level guidelines and SOPs
• Internal controls Review of business processes and ERPs

JOB RESPONSIBILITIES

Primary:

• Facilitate review of RACMs considering changes in external & regulatory environment, adoption of technology and strengthening controls
• Strengthening IFC framework and benchmark with other IC and companies in industry
• Review the internal audit reports and identify the observations relating to internal controls and support remediation of observations by implementing preventive controls
• Prepare and present monthly reports on key audit observations to Management
• Support standardization and implementation of best practices across Organization by releasing Guidelines, Policies & SOPs
• Carry out regular testing of operating effectiveness of key controls and business processes to identify gaps, if any, and suggest remediation

Secondary:

• Create awareness about internal controls, prevention & detection of fraud risks
• Promote ethical behavior and work culture
• Strengthening the function by benchmarking with good practices in the industry

Areas of Exposure/ Work Background:

Experience in Internal Audit, IFC Audits, data analytics in similar industry or in large audit firms, preferably the Big Four. Experience in implementation of Internal Financial Controls (IFC) as per Companies Act or worked in Finance & Accounts and have handled different profiles like Management Reporting/ MIS, Financial Accounting, Accounts Payable, Customer Invoicing, Contract Management, Statutory Compliance, Treasury or Project financial controller in similar industry.

Department Activities: (Brief description of the department)

• Maintain the Internal Financial Controls framework in line with the requirements under the Companies Act 2013
• Remediation of critical internal audit observations
• Business Process transformation and implementing Next Generation Controls
• Management Reporting on effectiveness of internal controls (Dash Boarding)