Assistant Manager - Business Internal Audit - CA

Position Title : Business Internal Audit - Team Member Business Unit Department : Internal Audit and Assurance Business Location : Mumbai Reporting to Business Internal Audit : Team Lead Job Purpose : The Business Audit - Team member is responsible for : - Independently executing High Quality Internal Audit of the business & Enterprise Functions providing independent, objective assurance to the Senior Management, and the Audit Committee through the Business Audit Team Lead, on the effectiveness of internal controls, governance and risk management frameworks. - Provide high-quality assurance over key financial, operational, compliance, and technology risks. - Delivering value through control improvements, cost optimization, and prevention/detection of revenue leakage/losses, contribution increase across business. - Maintain detailed documentation as per Global Internal Audit Standards and local laws, performing detailed root-cause analysis, and making actionable recommendations, and ensuring implementation of the same to strengthen governance, risk management and internal controls. - Expertise in drafting Risk Control Matrices, process flows, process narratives, testing controls, maintaining action taken report trackers, identification of red flags during audit. - Demonstrated ability to understanding business risks, auditing diverse functions, various operational processes, auditing Units across geographies with complex business operations - Delivering High quality audit reports and Supporting the Business Internal Audit Team Lead and Business Internal Audit Head, in preparing Senior Management Presentations, Updates Business Dimensions (as applicable) (Add Rows as needed) : - Develop scope, objectives of the audit based on the audit plan. - Independently Driving Audits and providing objective assurance on the effectiveness of governance, risk management and internal controls across business processes. - Executing Audits independently - Assess effectiveness of governance, risk management and internal controls across key business processes (financial, operational, compliance and basic technology-enabled controls) and identify control gaps/red flags - Draft observations, risk ratings, and supporting annexures; contribute to high-quality audit reports and management presentations. - Use technology in audits. Providing forward-looking, data-driven insights (continuous auditing/analytics) to identify root causes, systemic issues, and improvement opportunities. - Drive closure of audit actions by maintaining trackers, performing validation testing for closure/effectiveness. - Develop actionable recommendations with practical remediation steps, impact articulation (risk/value), and clear ownership and timelines. - Maintain strong stakeholder coordination with process owners to ensure smooth conduct of audits, Contribute to risk-based coverage by sharing on-ground business insights, emerging risks, and control issues to help refine scope and future audit focus areas. Job Context : The Business Internal Audit Team member role independently executes the Risk-Based Audit plan in a timely manner, Develops Audit Scope and Defines Audit Objectives. The role makes measurable impact to the business by providing assurance, identification of key risks, lapses in control, measurable cost savings, preventing revenue leakage, reducing loss exposure. The role brings a systematic, disciplined approach to assess and strengthen the effectiveness of governance, risk management, internal controls, and compliance, while also enabling process improvements and value creation. Supports the Business Audit Team Lead in delivery of Audit Plan and ensures function objectives are met with. Role Expectations : - Independently delivers High-impact Audits in a fast-changing global environment. - Identifies emerging regulatory, governance, and technology changes, and updates the same to the Business Internal Audit Team Lead / Business Internal Audit Head, for timely inclusion in risk assessment framework and audit plan. - Executes agile audits, performs control testing, gathers business knowledge, inputs, risks during audit and updates the Business Audit Team Lead for update of risk assessment framework and Audit Plan. - Perform detailed walkthroughs, process mapping and RCMs (process narratives/flows, control design evaluation, operating effectiveness testing). - Understand process, identify risks, design audit program, perform fieldwork, and document workpapers in line with Internal Audit Standards and local requirements. - Assess effectiveness of governance, risk management and internal controls across key business processes (financial, operational, compliance and basic technology-enabled controls) and identify control gaps/red flags. - Draft observations, risk ratings, and supporting annexures; contribute to high-quality audit reports and management presentations. - Uses data analytics, automation/AI in audits, enhances the way of working in audit function. - Provides assurance and insights to business stakeholders. - Portrays a strong learning and growth mindset, demonstrates a self-motivated mindset, undertakes learning paths, exposure to complex audits to strengthen the roles capabilities Principal Accountabilities (Add Rows as needed) : - Independently Execute comprehensive Risk Based Audits to provide assurance of existing processes and internal controls - Support the Business Audit Team Lead in developing Risk Based Internal Audit Plan for the business / businesses in alignment with the enterprise risk assurance matrix, heat maps, emerging risks, enterprise risk priorities, regulatory requirements, and business strategy. - Support the Business Audit Team in defining audit scopes for assigned audit areas - Execute the audits, conduct process walkthroughs, review control design, test operating effectiveness of controls, prepare and maintain high quality workpapers as per Internal Audit standards. - Visits the Audit locations (Plants, Project sites) and executes audit field work, understands business processes, the ground realities, conducts the opening meeting, closing meeting and timely completes the audit work (based on defined scope and objectives). - Coordinates and monitors the External Internal Auditors to conduct internal audit reviews and provide independent assurance over assigned processes, risks, and controls. - Supports Business Internal Audit Head in Budget Stewardship by managing the audit delivery within the Internal Audit function budget Principal Accountabilities (Add Rows as needed) : Value Creation & Measurable Impact : - Conduct audits across processes to evaluate design and operating effectiveness of controls. - Identify control gaps, process inefficiencies, and opportunities for process standardization, measurable outcomes such as cost optimization, prevention of revenue leakage, reduction in loss exposure , and delivering quantifiable financial impact. - Track audit timelines, manage fieldwork logistics, and deliver timely. - Identify opportunities for process standardization, automation, strengthening internal control environment - Provide recommendations to mitigate risks and ensure implementation of audit recommendations. - Support Business Audit Team Lead in assignments assigned by Business Internal Audit Head. - Provide positive assurance, identify control gaps & make recommendations to mitigate risks during Audits - Execute risk-based audits in line with the approved plan, ensuring the quality, depth and coverage of reviews across processes and locations. - Draft audit findings, root-cause analysis and recommendations before release of draft and final reports. - Actively participate in resolving exceptional cases and complex issues, including investigations into fraud indicators, governance failures, revenue leakages, cost escalations and control breakdowns. - Ensure timely im