Senior Manager – Internal Audit & Operational Risk – Insurance – CA

Serving Skill; Mumbai; On-site; Full time

Job summary

A leading company in risk management is seeking a Senior Manager for Internal Audit & Operational Risk in Mumbai. The chosen candidate will be responsible for conducting risk-based audits, coordinating with auditors, and ensuring effective risk management practices are in place. The ideal candidate should have a CA qualification, 0-3 years of experience, and strong analytical, communication, and interpersonal skills. The role demands a proactive approach to mitigate risks and improve processes.

Qualifications

• CA qualification required.
• 0 – 3 years of experience in a relevant field.
• Risk-related certifications preferred.

Responsibilities

• Conduct risk-based audits and control evaluations.
• Define audit scope and plan logistics effectively.
• Utilize data analytics for checks and reporting.
• Coordinate with auditors to facilitate timely audit closure.
• Prepare and present audit reports to management.

Skills

Excellent T-SQL

VB

Advanced Excel skills

Strong Analytical skills

Excellent communication skills

Strong Interpersonal Skills

Education

CA

Job description

POSITION NAME

Senior Manager – Internal Audit & Operational Risk

Designation : Senior Manager

Department : Process Assurance and Risk Management (PARM)

Sub Department : Internal Audit & Operational Risk

Reporting Position : L6, Assistant Vice President

Objective of the Role

– The role will be responsible for conducting risk based audits and process design & control evaluation to facilitate oversight of the Risk Environment for the business and provide management with assurance that necessary controls are in place to mitigate risks.

Key Responsibilities:

Internal Audit:

• Conducting thematic audits as per the defined audit plan covering financial, compliance, reputational and operational impact areas
• Defining scope for audits allotted & ensure approach of audit is properly laid down and logistics appropriately planned
• Conducting detailed process and system walkthrough and field work to identify critical gap areas
• Use of data analytics & audit tool for driving completeness checks
• Timely discussion of audit queries with the auditee departments and preparation of audit reports
• To ensure all audit observations are mapped to process design or control execution improvements needed and tracked till end closure
• Co-ordination with co-sourced internal auditors and business teams to facilitate timely conduct and closure of reports
• Preparation and presentation of audit reports to Tier‑I and Audit Committee
• Review of scheme and incentive payments to ensure correct payouts
• Review of various IRDAI/ statutory returns before filing

Operational Risk:

• Working closely and collectively with functional units to support management in ensuring key risks are identified, assessed, reported and managed
• Coordinating and executing various risk initiatives such as Risk & Control Self Assessments (RCSA), Incident Reporting & Operational Loss reporting
• Develop and continuously monitor Risk awareness across the organization
• To report to the Risk Management Committee on regular basis on Risk Management Activities of the company
• Managing IFC framework review for the company in coordination with the IFC auditor
• Review of product setup in the core system and various peripherals
• Detailed review of all existing policies/processes, to provide inputs for improvement from a risk & efficiency point of view

Preparation of swim‑lane flow charts & RACI matrix towards process simplification and define process ownership

Review of scheme and incentive payments to ensure correct payouts

Review of various IRDAI/ statutory returns before filing

Interactions:

Internal Relations:

• Interacting with multiple internal stakeholders in the Company

External Relations:

• Co-sourced auditors and vendors

Required Qualification and Skills:

Educational Qualifications:

• CA

Work Experience:

• 0 – 3 years

Certifications:

• Risk related certifications would be preferred

Other skill set:

• Excellent T‑SQL, VB and advanced Excel skills to manipulate data, write macro’s, etc.
• Ability to relate to business processes, system set‑ups and carry out independent gap assessment
• Strong Analytical and problem solving aptitude
• Excellent communication skills – both verbal and written
• Strong Interpersonal Skills required to connect with people