Internal Audit

Cholamandalam MS General Insurance Co. Ltd.; Chennai District; On-site; INR 450,000 - 650,000; Full time

Job summary

Cholamandalam MS General Insurance Co. Ltd. seeks an entry-level Internal Auditor to independently audit financial, regulatory, and operational processes within the General Insurance business.

You will assess internal controls, risk management, and governance to ensure IRDAI compliance and accurate financial reporting. Fresh CA graduates (2026) are preferred, with 0-1 years of relevant experience. The role emphasizes end-to-end process audits across underwriting, claims, and commissions,

Qualifications

• 0-1 year of experience in internal/audit roles.
• CA 2026 qualified freshers preferred.
• Strong knowledge of IRDAI regulations and Ind AS is beneficial.

Responsibilities

• Conduct risk-based internal audits for General Insurance financial processes (premium, claims, reinsurance, coinsurance, commissions).
• Assess risk management frameworks, SOPs, and authority matrices.
• Review monthly, quarterly, and annual financial closures per IRDAI, Ind AS, and Companies Act.
• Verify accuracy and regulatory compliance of financial statements and MIS.
• Evaluate reserves methodology (IBNR, UPR, outstanding claims).
• Review tax-related controls and regulatory compliance for GI operations.

Skills

Internal auditing

Regulatory compliance

Excel proficiency

Analytical skills

Stakeholder communication

Education

CA (2026) fresher

Tools

Excel

Job description

To provide independent and objective assurance over the financial, regulatory, and operational processes of the General Insurance business. The role focuses on evaluating the adequacy and effectiveness of internal controls, risk management, and governance processes, ensuring compliance with IRDAI regulations, accurate financial reporting, and robust controls across underwriting, reinsurance, and claims operations.

Experience : (0-1 years), CA 2026 qualified freshers preferred

Key Responsibilities

Internal Audit – Financial, Accounting, & Insurance Process Audits

• Conduct risk-based internal audits covering end-to-end financial accounting processes for General Insurance operations, including premium, claims, reinsurance, coinsurance, and commission accounting.
• Assess the effectiveness of risk management frameworks, SOPs, and delegation of authority matrices.
• Review and assess the design and operating effectiveness of controls over monthly, quarterly, and annual financial closures in line with IRDAI guidelines, Ind AS, and the Companies Act.
• Verify the accuracy, completeness, and regulatory compliance of financial statements, management reports, and MIS.
• Evaluate the methodology, assumptions, and controls relating to technical reserves, including IBNR, UPR, and outstanding claims provisions.
• Review controls and compliance relating to direct and indirect tax matters applicable to General Insurance operations and flag associated risks.

Regulatory & Compliance Audit

• Assess adherence to IRDAI regulations, circulars, guidelines, and internal policies through periodic audits and thematic reviews.
• Identify regulatory gaps, potential non-compliances, and emerging risks; recommend corrective and preventive actions.

Reporting & Stakeholder Management

• Prepare clear, concise, and impactful internal audit reports highlighting key observations, risk ratings, root causes, and actionable recommendations.
• Track audit issues, management action plans, and ensure timely closure of audit observations.
• Strong analytical, documentation, and report‑writing skills with high attention to detail.
• Effective stakeholder management, professional judgment, and communication skills.
• Advanced proficiency in Excel and financial / audit reporting tools Ability to work independently and manage multiple audits under tight timelines.
• Demonstrated leadership, integrity, and ability to collaborate across functions.