Audit Manager - Retail

Job DescriptionJob Role: Audit ManagerJob Role ID: 81197238SECTION I: BASIC INFORMATION ABOUT THE JOB ROLEJob Role Variant: Sr. Team Lead - AuditManager Job Position: Head - AuditJob Position ID: 84011072Value Stream: Money, Materials & ComplianceJob Family: Finance, Compliance & AuditSub-Job Family: CentralGrade/LevelLocation:SECTION II: PURPOSE OF THE ROLETo plan, manage and supervise the delivery of audits led by self or team within a specific segment/ function and ensure the segment fulfils international and government obligations on compliance, internal SOPs/processes while adhering to RIL auditing standards/methodologySECTION III: KEY RESPONSIBILITIES AND ACCOUNTABILITIES OF THE ROLEResponsibilitiesPolicies, Processes and ProceduresDevelop and implement audit policies and procedures that align with the organization's overall audit obligationsAssist in formulation of overall plans and ensure day-to-day execution in line with function standards & regulationsImplement new initiatives / projects as per established policies to meet future requirementsProvide inputs for improvements in business processes, specifications and best practices in the area of auditAudit DeliverySupport the relevant Head of Audit in development of Annual Audit Plan; Support the Head of Audit in identifying audit areas and developing audit programs that test the adequacy and effectiveness of internal controls, compliance with policies, and accuracy of financial reportingManage the planning and scheduling of internal audit engagements within the segment, including the allocation of audit resources, coordination with business units, and communication with senior managementEnsure that audit engagements are completed in accordance with audit standards, internal policies and procedures, and within budget and timelineProvide subject matter expertise to other segments basis requirement, by working on audits outside specific segment for development purposesReview draft Terms of Reference documents and test plans prior to the relevant Head of Audit's reviewPlan site visit for self and team members to various retail sites for auditPropose areas in retail audit operations to increases the usage of analytics and leverage the available data for risk mitigationAudit Review & RecommendationsReview audit findings and recommendations for accuracy, completeness, and relevanceReview audit reports and presentations that summarize audit findings and recommendations, and communicate the results to senior managementEnsure that audit reports are consistent with audit standards, internal policies and procedures, and regulatory requirements and effectively communicate audit resultsEnsure that appropriate follow-up actions are taken on audit findings and recommendations within the segment; Monitor the implementation of audit recommendations and assess the effectiveness of corrective actions takenRisk ManagementDrive the implementation of effective risk management practices throughout the segment, including risk assessments, risk mitigation strategies, and risk monitoring; Ensure that risk management practices are consistent with best practices, internal policies and procedures, and regulatory requirementsCollaborate with other departments to promote risk awareness and implement effective risk management practices; Facilitate risk management training and education to increase the respective segment's understanding of risk managementIdentify emerging risks and trends that may impact the work of the respective segment and provide recommendations to senior management; Monitor changes in the business environment, technology, and regulatory landscape that may pose new risksIdentify and propose risks to business for their assessment, and conduct audit as per plan for the approved risks by business teamsAudit SupervisionProvide guidance and support to the internal audit team Lead working for the respective segment on audit methodologies, procedures, and techniques; Ensure that the team adheres to audit standards, internal policies and procedures, and professional ethicsShare relevant context and provide coaching to the team lead to aid them in their development of the Terms of Reference and Test plansSupport the team lead during audit fieldwork, including, receiving status updates; providing direction; providing coaching and context; reviewing interim findings; supporting escalation processesReview draft reports and working paper and maintain overall accountability for effective and efficient delivery of the audit through delegation to the audit team lead, support for execution where requiredComplianceEnsure that the internal audit function operates in compliance with all regulatory requirementsMonitor regulatory changes and assess their impact on the organization's internal audit programDemonstrate leadership in HSSE and ethics within the Audit Function (specifically: Office HSSE and OSF, Driver Safety Standard, Travel, IT and data security, PRP and V&B)GovernanceSupport the Audit head and act as an advisor on various mandates given by senior management/board membersReview, prepare and conduct business reporting meetings and handle audit committee, business risk and assurance committee meeting, weekly meetingsPeople ManagementParticipate in recruitment activities & ensure retention / engagement of own teamSet performance objectives of own team, evaluate / appraise team members and provide regular feedback & guidanceGuide, mentor and develop own team to take larger and complex responsibilitiesEvaluate training and development requirements for own team and make recommendations for learning interventionsSECTION IV: SUCCESS METRICSAudit delivery - plan vs actualQuality of audit findings (measured through financial savings/cost optimization etc.)100% regulatory compliantAudit recommendations for system and process enhancementsClosure of audit findingsSelf upgradation/development initiatives takenSECTION V: OPERATING NETWORKInternalSenior Management, Risk Management and Operations Team, Corporate Finance Team, Accounting Team, Tax Team, Legal Team, Master data management team, Business level CFOs, CEOs, CXOs, Segment level functional headExternalStatutory auditors, CA/Consulting firmsSECTION VI: KNOWLEDGE AND COMPETENCIESEducation QualificationsA bachelor's degree with CA/CMA or MBA is mandatory; CIA/CISA (an added advantage)Experience12 to 15 years of experience with a Big-4 audit firm in conducting audit for multiple clients or an exposure of internal audit function with a large multinational corporationFunctional / Behavioural Competencies Required To Execute The RoleFunctional CompetenciesAnalytical skillsCommunication and Presentation skillsWorking understanding of concepts and amendments in Taxation/Financial management/Financial modellingWorking knowledge of SAP- FICO/MM moduleBusiness acumenBehavioral CompetenciesN/ASECTION VII: CAREER MOVEMENTSFeeder RolesTeam Lead - AuditPossible Next Role MovementHead - Audit