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Audit & Accounts Head (Finance)

Date: Oct 19, 2021

Location: Mumbai, India

Company: ACG

Job Objective

•    Provide an independent evaluation of ACG’s financial and other activities.  Centrally coordinate all audit and compliance activities and ensuring strict adherence to ACG’s internal policies and procedures as well as regulatory and statutory requirements in order to promote transparency and accountability, add significant value, enhance risk management, governance and compliance, improve operational efficiency, and strengthen the internal control systems within the operations

Primary Responsibilities

Strategic 
•    Assist in the development, maintenance, implementation and review of the internal audit work programmes, audit plan and risk register
•    Drive the development, deployment and update/review of the charter, manual, relevant policies and other frameworks for the Internal Audit Function
Core Functional
Internal Audit
•    Direct internal audits and  evaluate the level of compliance with established business control policies, processes, procedures, standards, laws and regulations in assigned functional areas/business units 
•    Work with external consultants to ensure timely completion of Internal Audit work across the world at all ACG locations
•    Assist in development and testing of necessary controls in order to assess compliance levels and identify risks in time
•    Coordinate with auditors to assess the quality and adequacy of financial, operational, maintenance and quality controls and procedures, compliance with policies and recommend corrective action for the same
•    Ensure efficient due diligence and give recommendations for any risk or non-compliance identified 
•    Study audit reports and present recommendations and insights to audit committee and top management    
•    Identify areas of inefficiencies in business operations and control. Identify control weaknesses or process improvement opportunities and initiate workable solutions
•    Identify cost reduction potential and opportunities
•    Document and file work papers and audit procedures performed. Maintain back up (physical and electronic) of all internal audit materials for easy retrieval and reference and monitor the document management process across ACG
•    Support the Business / Corporate Functions to develop action plans based on Internal Audit reports. Track timely and effective corrective actions taken following audit recommendations
•    Follow up with Business Heads and relevant functional heads to take action on Audit findings and escalate as required to the CFO / MD 
Risk
•    Conduct monthly review of bank reconciliation statements for all existing bank accounts and monthly call over/review of transactions focusing on appropriate posting of transactions and ensuring compliance with statutory deductions
•    Investigate and report all alleged cases of fraud, waste, abuse and inefficiencies and make recommendations on appropriate preventive or remedial actions
•    Conduct tracking of operational, financial and market risks across the ACG group
•    Report to the Board around critical risks which need immediate attention 
•    Ensure follow up around action taken for critical risk items 
•    Participate in stock counts and follow through to ensure that store balances are reconciled to the general ledger
 

Key Result Areas

•    Timely completion of Internal Audits 
•    Process adherence for timely action on audit findings 
•    Compliance as required by Company Law / Ministry of Corporate Affairs / Registrar of Companies (Deviations observed )
 

Key Interfaces

Internal Interfaces External Interfaces
•    Business Finance Heads 
•    CFO
•    Head Legal
 
•    Practicing Company Secretary of the respective operating company
•    Registrar of Companies & other relevant statutory bodies & their representatives
•    Consultants / Auditors on need basis
 

 

Educational and Experience Requirements

  Minimum Requirement  Desired 
Level of Education •    Past Graduate/ MBA – Finance/ Charted Accountant/ Company Secretary •    Company Secretary 
Experience •    10 years’ experience as a Company Secretary in Pharma or Pharma Ancillary company or a large business group
•    At least 6  years in a position of similar responsibility
 
•    10+ years as a Company Secretary At least 5 years prior experience 
•    in the Lifesciences / Pharma Ancillary company
•    More than 6 years in a position of similar responsibility
•    Familiarity with the functioning of the Registrar of Companies
 

 

Technical Competencies & Personas

Listening
Team and People Development
Customer Focus
Cross Cultural Skills
Strategic Thinking
Delivering Consistent Results