Job Summary / Job Purpose
To assist Local Head of Audit in discharging his duties towards Global IGAD/AUD, Local Management, Regulators, External Auditors and other stake holders by following activities:
This person will be required to work very closely with Audit Trainees, and occasionally with other Audit Teams in Bangalore, Asia and other locations.
Main Responsibilities / Accountabilities / Tasks
1. Audit Plan Execution:
- 100% completion of audit plan for IGAD/Mumbai before Dec 15 [issuance of final report]. No carry over mission at all at the end of the year.
- Keeping missions within budget; pro-active management of the missions’ budget
- Reduction of reports issuance time: target of 4 weeks after the exit meeting
- Adequate coverage of risks and regulatory requirements during audit missions. Use of professional judgment during diagnostic and reporting.
- Timely delivery of audit deliverables with quality standards. Audit documentation to meet professional / international audit standards.
1. Recommendation Follow up:
Pro-active follow-up of audit recommendations:
- No Critical or HP priority overdue with no action for more than 3 weeks; escalation to IGAD Management in case of issue with Responsible Parties
- No open recommendation older than 18 months.
- No “Completed Not Signed” recommendation older than 3 weeks
2. Tools and Processes:
- Weekly update of the auditors activity in DATT
- Weekly update of the Mission status in DATT
- Implementation of the new audit tools and processes (in line with global and regional initiatives); implementation of the New Deal project actions (depending on the project development)
- Implementation of Quality Improvement Deliverables
- Conducting the Risk Assessment as per the Global Methodology (deliverables and deadlines to be respected)
- Completing Mission Appraisals on time.
Competency - Group Issue: Cooperation – Working Together
- Weekly highlights of main events to be sent timely to the Regional Management
- Pro-actively escalating local issues (such as: fraud cases, major operational losses, etc) to the Regional IGAD Management (Head of Hub and Regional Head and Deputy)
- Working in close coordination with the Regional Management, Regional experts and Paris Business Correspondents; in particular, pro-actively seeking advice and methodological support when starting audits; and conversely sharing knowledge and expertise with other teams that may need it
- Maintaining regular contacts with the Local Management, as well as with the actors of Permanent Control (operational risks management teams, Compliance)
- Encouraging teams’ contribution to audit methodologies
- Assisting Local Head of Audit in audit committee meetings, EXCO / CEO meetings / management meetings, review by External Auditors / Regulators / Inspection etc.
- Addressing MIS requests from IGAD or other departments such as ORM – KPI reporting etc.
4. Result orientation
Competency - Group Issue: Results orientation - Developing the Business
- Implementing a risk-driven approach within the team, especially during diagnostic phases; active management of mission MDs to take into account the risks detected during diagnostic phase
- Maintaining knowledge on key risks within the perimeter (For risk assessment & during missions)
- Maintaining access to key indicators & data on the covered perimeter (Staff, NBI, Risk Indicators, etc)
All our positions are open to people with disabilities
Qualification & Work Experience
Commerce Graduate with a higher qualification in risk / compliance / audit / accounting such as Chartered Accountancy.
The candidate should be preferably CIA / CISA or should enroll for at least one of these courses. These certifications and memberships are encouraged by IGAD/AUD to promote professionalism.
Relevant Working Experience in number of years
For Chartered Accountants / Professionally qualified candidates, a post qualification experience of 8-10 years preferably in banking environment again in similar function as internal audit. Experience of working in reputed professional audit firms with exposure to financial services may also be considered good.
Candidate should have over all experience in internal audit of all banking departments
1. Understands the organization, the activities and products (C1)
2. Masters audit tools and techniques, and uses the deliverables of the Quality Improvement project (C2, C3)
3. Applies a Risk Focused approach, especially during the Diagnostic Phase of the audit: prioritization of the key controls, sampling methods, management of the budget (C4)
4. Timely follow-up of audit recommendations
• Results Orientation
1. Masters the audit skills for each of the mission steps (diagnostic, investigations, written restitutions and end of mission tasks), and applies Quality Improvement principles and formats (A1, A2 and A3 of the Skills Matrix)
2. Is organized and manages time efficiently; delivers assigned tasks / reports within deadlines and budget; develops autonomy (B1)
1. Maintains effective relationship with the auditees (B2.1)
2. Works cooperatively and transparently; contributes to sustain the team spirit (B2.2 and B2.3)
• Client focus
1. Communicates with impact vis a vis the auditees (B3.1)
2. Conducts effectively interviews and meetings (B3.2)
• Team leadership (when applicable, depending on the profile)
Is able to conduct an audit mission in an autonomous manner (B1 / Step 3) – In particular, pro-actively manages the mission MDs to take into account the level of risks identified during the diagnostic phase (including possibly reduction of the Mission budget) I s able to manage an audit team and to coach auditors placed under his/her responsibility (B4)
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