AVP - Audit - Subsidiary Governance

AbouttheRole

The role acts as a key liaison between Group Internal Audit, subsidiary audit functions, management, and Audit Committees to drive consistency, quality, independence, and effectiveness of audit practices across the Group. Conducting Books of Accounts review across all the subsidiaries, associate companies, and other related entities as per the applicable Master Directions. This role would extensively require relevant Audit (Internal/External) Experience 7-10 years post qualification with specialized focus and knowledge on the Mutual Fund, Equity and Derivatives, Capital Market Industry.

Key Responsibilities

Subsidiary Audit Governance Framework

• Develop and maintain a Group-wide Audit Governance Framework for subsidiaries.
• Ensure alignment of subsidiary Internal Audit Charters, Policies, Methodologies, and Audit Manuals with Group standards.

Oversight of Subsidiary Audit Functions

• Provide independent oversight over subsidiary Internal Audit activities.
• Assess adequacy of audit coverage considering regulatory, operational, financial, technology, and compliance risks.

Audit Committee Governance

• Review agendas, presentations, and papers submitted to subsidiary Audit Committees.
• Ensure quality and consistency of Audit Committee reporting.
• Monitor action items arising from Audit Committee meetings.

Regulatory and Compliance Oversight

• Monitor evolving regulatory expectations impacting Internal Audit.
• Ensure subsidiary audit functions comply with: 
• RBI requirements
• SEBI regulations
• IRDAI regulations
• PFRDA requirements
• Other applicable local regulations
• Coordinate regulatory inspections involving Internal Audit.

Risk-Based Audit Planning Oversight

• Review and challenge annual audit universe and risk assessments of subsidiaries.
• Assess whether emerging risks are adequately incorporated into audit plans.
• Evaluate coverage of: 
• Operational risks
• Financial risks
• Reputational risks
• Regulatory risks

Monitoring of Audit Issues and Remediation

• Establish Group-level audit issue management governance.
• Monitor closure of high-risk and overdue audit observations.
• Validate effectiveness of corrective action plans.
• Escalate persistent delays and recurring issues.
• Perform thematic analysis of audit findings across the Group.

Coordinating and arranging for monthly and quarterly structured engagements with the IA function of subsidiaries

Stakeholder Management

• Build effective relationships with: 
• Subsidiary CEOs
• CFOs
• CROs
• Compliance Heads
• Internal Audit Heads
• External Auditors

Conducting Books of Accounts Review for all the subsidiaries, associate companies, Subsidiary Governance Department and Axis Bank Foundation

Qualifications

• Chartered Accountant (CA)
• CIA

Experience: relevant Audit (Internal/External) Experience 7-10 years post qualification with specialized focus and knowledge on the Mutual Fund, Equity and Derivatives, Capital Market Industry. Knowledge of the IndAS and IGAAP is required.

Role Proficiencies:

Technical Competencies

• Internal Audit Governance
• Risk-Based Auditing
• IIA Standards
• Regulatory Compliance 
• Audit Quality Assurance 
• Corporate Governance
• Audit Methodology Development 
• Board and Committee Reporting

Behavioral Competencies

• Strategic Thinking
• Strong Communication Skills
• Stakeholder Management
• Analytical Thinking
• Leadership and Influence
• Attention to Detail
• Problem Solving