Associate - Internal Audit

1. Job Purpose

To evaluate the effectiveness of internal controls, risk management practices, and governance processes across the organisation. The role is responsible for identifying control gaps, operational inefficiencies, financial risks, and compliance issues while recommending appropriate corrective actions.

The position will play a key role in strengthening the organisation's internal control environment, ensuring adherence to company policies and regulatory requirements, and driving continuous improvement in business processes.

2. Key Roles and Responsibilities

A. Internal Audit and Risk Assessment

• Plan and execute risk-based internal audits across various business functions, locations, and geographies.
• Conduct process walkthroughs to understand business operations and evaluate the effectiveness of internal controls.
• Perform financial, operational, and compliance audits to identify potential risks, control weaknesses, and process gaps.
• Conduct audit testing using data analytics to identify unusual transactions, deviations, and control failures.
• Review adherence to company policies, SOPs, Delegation of Authority (DOA), and applicable regulatory requirements.
• Evaluate the design and operating effectiveness of internal controls.
• Identify opportunities for process improvement, risk mitigation, and operational efficiency.
• Support internal control activities during new process implementations, system changes, and business transformations.

B. Audit Management and Co-sourced Auditors

• Manage and review audit assignments performed by co-sourced internal audit partners.
• Ensure audit activities are completed within defined timelines and quality standards.
• Review audit working papers, supporting documentation, and audit observations.
• Coordinate with internal and external audit teams to ensure effective execution of audit assignments.

C. Audit Reporting and Follow-up

• Prepare clear, concise, and comprehensive internal audit reports highlighting observations, risks, and recommendations.
• Discuss audit findings with respective process owners and agree on corrective and preventive action plans.
• Monitor the implementation and closure of audit observations within agreed timelines.
• Conduct follow-up reviews to validate the effectiveness of corrective actions.
• Escalate significant control gaps, unresolved observations, and high-risk matters to senior management.

D. Stakeholder Management and Business Coordination

• Coordinate with various business functions, departments, and stakeholders across geographies.
• Build effective working relationships with process owners and senior management.
• Communicate audit findings and recommendations in a professional and constructive manner.
• Provide guidance to business teams on strengthening internal controls and improving processes.
• Maintain independence, confidentiality, and professional integrity while performing audit activities.

3. Educational Qualification and Experience

• Semi-qualified CA candidates with relevant experience in Internal Audit and External Audit will also be considered.
• Candidates with relevant experience in Internal Audit, External Audit, Risk Advisory, or Assurance from Big 4 firms, reputed CA firms, or corporate organisations will be preferred.
• 2- 5 years of experience in Internal Audit.
• Experience in corporate internal audit, Big 4 firms, or reputed CA firms.
• Pharmaceutical industry experience will be preferred.
• CIA (Certified Internal Auditor) or CISA (Certified Information Systems Auditor) certification will be an added advantage.

4. Technical Knowledge and Functional Skills

• Strong understanding of COSO framework, Internal Controls over Financial Reporting (ICFR), and Internal Audit Standards.
• Hands-on experience in risk-based internal audits, process walkthroughs, and control testing.
• Good understanding of financial, operational, and compliance audits.
• Working knowledge of SAP, SAP S/4HANA, or similar ERP systems.
• Advanced knowledge of MS Excel and data analysis.
• Exposure to Power BI, ACL, IDEA, or Tableau will be preferred.
• Strong audit documentation, analytical, and report-writing skills.

5. Core Competencies

• Strong risk and control mindset.
• Excellent analytical and problem-solving abilities.
• High level of integrity, independence, and professional skepticism.
• Strong communication and interpersonal skills.
• Effective stakeholder management and coordination.
• Attention to detail and ability to identify process gaps.
• Ability to work independently and manage multiple audit assignments.
• Strong planning, execution, and time management skills.

6. Travel Requirements

• Willingness to travel approximately 1015% for domestic and international audit assignments.
• Flexibility to visit different business locations and interact with cross-functional teams as required.

7. Key Expectations from the Role

• Ensure effective execution of risk-based internal audits across business functions and geographies.
• Identify gaps in internal controls and recommend practical corrective measures.
• Strengthen the organisation's financial and operational control environment.
• Ensure timely submission of audit reports and closure of audit observations.
• Drive compliance with internal policies, SOPs, and applicable regulatory requirements.
• Support continuous improvement in business processes and risk management practices.