Team Lead - Internal Audit New Energy
Reliance Industries Limited
Date: 22 hours ago
City: Navi Mumbai, Maharashtra
Contract type: Full time

Job Description
Job Role: Team Lead - Audit
Job Role ID
SECTION I: BASIC INFORMATION ABOUT THE JOB ROLE
Job Role Variant: Sr. Team Lead - Audit
Manager Job Position: Head - Audit
Job Position ID
Value Stream: Money, Materials & Compliance
Job Family: Finance, Compliance & Audit
Sub-Job Family: Central
Grade/Level
Location:
SECTION II: PURPOSE OF THE ROLE
To 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/methodology
SECTION III: KEY RESPONSIBILITIES AND ACCOUNTABILITIES OF THE ROLE
Responsibilities
Policies, Processes and Procedures
Internal
Education Qualifications
Functional Competencies
Feeder Roles
Job Role: Team Lead - Audit
Job Role ID
SECTION I: BASIC INFORMATION ABOUT THE JOB ROLE
Job Role Variant: Sr. Team Lead - Audit
Manager Job Position: Head - Audit
Job Position ID
Value Stream: Money, Materials & Compliance
Job Family: Finance, Compliance & Audit
Sub-Job Family: Central
Grade/Level
Location:
SECTION II: PURPOSE OF THE ROLE
To 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/methodology
SECTION III: KEY RESPONSIBILITIES AND ACCOUNTABILITIES OF THE ROLE
Responsibilities
Policies, Processes and Procedures
- Develop and implement audit policies and procedures that align with the organization's overall audit obligations
- Assist in formulation of overall plans and ensure day-to-day execution in line with function standards & regulations
- Implement new initiatives / projects as per established policies to meet future requirements
- Provide inputs for improvements in business processes, specifications and best practices in the area of audit
- Support 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 reporting
- Manage 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 management
- Ensure that audit engagements are completed in accordance with audit standards, internal policies and procedures, and within budget and timeline
- Provide subject matter expertise to other segments basis requirement, by working on audits outside specific segment for development purposes
- Review draft Terms of Reference documents and test plans prior to the relevant Head of Audit's review
- Plan site visit for self and team members to various retail sites for audit
- Propose areas in retail audit operations to increases the usage of analytics and leverage the available data for risk mitigation
- Review audit findings and recommendations for accuracy, completeness, and relevance
- Review audit reports and presentations that summarize audit findings and recommendations, and communicate the results to senior management
- Ensure that audit reports are consistent with audit standards, internal policies and procedures, and regulatory requirements and effectively communicate audit results
- Ensure 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 taken
- Drive 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 requirements
- Collaborate 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 management
- Identify 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 risks
- Identify and propose risks to business for their assessment, and conduct audit as per plan for the approved risks by business teams
- Provide 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 ethics
- Share relevant context and provide coaching to the team lead to aid them in their development of the Terms of Reference and Test plans
- Support the team lead during audit fieldwork, including, receiving status updates; providing direction; providing coaching and context; reviewing interim findings; supporting escalation processes
- Review 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 required
- Ensure that the internal audit function operates in compliance with all regulatory requirements
- Monitor regulatory changes and assess their impact on the organization's internal audit program
- Demonstrate 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)
- Support the Audit head and act as an advisor on various mandates given by senior management/board members
- Review, prepare and conduct business reporting meetings and handle audit committee, business risk and assurance committee meeting, weekly meetings
- Participate in recruitment activities & ensure retention / engagement of own team
- Set performance objectives of own team, evaluate / appraise team members and provide regular feedback & guidance
- Guide, mentor and develop own team to take larger and complex responsibilities
- Evaluate training and development requirements for own team and make recommendations for learning interventions
- Audit delivery - plan vs actual
- Quality of audit findings (measured through financial savings/cost optimization etc.)
- 100% regulatory compliant
- Audit recommendations for system and process enhancements
- Closure of audit findings
- Self upgradation/development initiatives taken
Internal
- Senior 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 head
- Statutory auditors
- CA/Consulting firms
Education Qualifications
- A bachelor's degree with CA/CMA or MBA is mandatory; CIA/CISA (an added advantage)
- 12 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 corporation
Functional Competencies
- Analytical skills
- Communication and Presentation skills
- Working understanding of concepts and amendments in Taxation/Financial management/Financial modelling
- Working knowledge of SAP- FICO/MM module
- Business acumen
- N/A
Feeder Roles
- Team Lead - Audit
- Head - Audit
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