Head - Internal Audit - Banking

Dimensions HRD Consultants; Mumbai; On-site; INR 2,000,000 - 3,000,000; Full time

Job summary

Dimensions HRD Consultants seeks an experienced Head of Internal Audit to lead the function, ensuring governance, risk management and strong internal controls across the organisation.

You will manage the Internal Audit team, coordinate with the Audit Committee, regulators and external auditors, and drive improvements in the control environment through audits, investigations and timely reporting to senior management.

Responsibilities

• Develop a risk-based internal audit program and perform financial, operational, and compliance audits.
• Meet with Audit Committee to discuss scope and schedule for the coming year and review findings.
• Review company practices for compliance with internal policies and procedures.
• Monitor the status of audit recommendations and ensure timely closures.
• Prepare detailed audit reports and present findings to senior management and the Audit Committee.
• Coordinate with independent auditors and regulators to optimize resources and achieve objectives.
• Conduct follow-up reviews of deficiencies noted during audits.
• Oversee investigations of irregularities, fraud, embezzlement, and defalcations; cooperate with law enforcement as needed.
• Ensure improvements in internal controls, operating efficiency, and recordkeeping.
• Present audit findings and recommendations after scheduled or unscheduled audits.
• Perform other duties as required, consistent with the internal audit department's goals.

Job description

This position is responsible to provide independent assurance to the Board of Directors for the internal auditing and reviewing of all functions performed by company personnel. This position maintains and updates auditing procedures as regulated by the Board and regulatory agencies and reports the results of the audits conducted. The role ensures the effectiveness of governance, risk management, and internal control processes across the organization.

This position manages all employees of the Internal Audit department and is responsible for the performance management and hiring of the employees within that department.

Key Result Areas :

• Develop a comprehensive risk based internal audit program. Perform financial, operational, and compliance audits in accordance with the internal audit program.
• Meet with Audit Committee to discuss and approve the departments scope and schedule for the coming year. Also conduct periodical review and discuss audit findings and other matters at other such times as necessary.
• Review company practices and records for compliance with established internal policies and procedures.
• Monitor the status of implementation of audit recommendations and ensure timely closures.
• Prepare detailed audit reports and present findings to senior management and the Audit Committee.
• Coordinate the departments activities with the independent auditors and all applicable regulatory agencies and examiners to best utilize available resources and achieve established objectives.
• Conduct follow-up reviews of financial, operational, or regulatory compliance deficiencies noted during audits.
• Oversee investigations of irregularities discovered by or brought to the auditors attention, any fraud, embezzlement, and defalcations within the company. Work in cooperation with law enforcement agencies in any such cases as deemed necessary.
• Ensure improvement in internal controls, operating efficiency, and the adequacy of company records and recordkeeping.
• Present audit findings and recommendations based on the results of regularly scheduled audits, non-scheduled audits, and at any time when issues need to be addressed by Board.
• Perform other duties as required, consistent with the goals, objectives, and responsibilities of the internal audit department. .