Roles &amp; Responsibilities

<ul>
<li>Have a thorough understanding of the processes and systems in place for the entities being audited</li>
</ul>

<ul>
<li>Interacts with various levels of management and staff in conducting interviews and testing internal processes</li>
</ul>

<ul>
<li>Review and evaluate policies and procedures applicable to the audit client</li>
</ul>

<ul>
<li>Anticipate and Identify the various risks and controls associated with the processes / systems in place</li>
</ul>

<ul>
<li>Identify process improvements that lead to cost savings or revenue enhancement opportunities</li>
</ul>

<ul>
<li>Categorize the controls in place as to preventive, corrective, detective and evaluate its adequacy, efficiency and effectiveness</li>
</ul>

<ul>
<li>Apply accounting, auditing, technological and sampling tools and techniques in the course of assignment.</li>
</ul>

<ul>
<li>Ensure that the relevant regulatory requirements (pertaining to IRDAIs regulations / circulars/ notices, Companies Act, Income Tax Act, CGST Act and other allied statutory compliances) concerned with the audit client is adhered to</li>
</ul>

<ul>
<li>Prepares reports based on the results of stated audits / tests / reviews to be presented and shared with the audit client</li>
</ul>

<ul>
<li>Suggests appropriate recommendations and suitable system validations to fix the control weaknesses and regulatory lapses identified on the reports circulated to the senior management</li>
</ul>

<ul>
<li>Evaluates the responses obtained from the audit client for its adequacy completeness and compliance</li>
</ul>

<ul>
<li>Categorizes the audit findings along with the responses as Major / Minor in line with the organization’s internal audit manual</li>
</ul>

<ul>
<li>Ensure that all audit records / documentations and working papers are maintained in detail and in compliance with the applicable regulations</li>
</ul>

<ul>
<li>Ensure that all information of confidential in nature is held in a confidential and secure mode</li>
</ul>

<ul>
<li>Performs other incidental activities like fraud review and consulting assignments as required by the senior management.</li>
</ul>

Key skills

<ul>
<li>Adequate knowledge of the various insurance products, channels, process and market practices</li>
</ul>

<ul>
<li>Adequate knowledge of the regulatory framework applicable to the General Insurance industry</li>
</ul>

<ul>
<li>Adequate knowledge of the information systems and control environment</li>
</ul>

<ul>
<li>Adequate knowledge of the internal auditing standards and risk assessment practices</li>
</ul>

<ul>
<li>Adequate knowledge of the accounting policies, procedures and practices</li>
</ul>

<ul>
<li>Ability to work effectively under strict timelines and multiple assignments</li>
</ul>

<ul>
<li>Excellent analytical skills</li>
</ul>

<ul>
<li>Excellent communication skills both written and oral</li>
</ul>

<ul>
<li>Accountability for the work performed</li>
</ul>

Internal Audit

Job Details & Overview

Skills Required for Internal Audit

Job Description for Internal Audit