Assistant Manager/Manager - Internal Control, Chennai

THE ROLE

This role is responsible for establishing, implementing, and maintaining a robust internal control framework across all Finance & Accounts processes. This role will play a critical function in safeguarding company assets, ensuring the accuracy and integrity of financial reporting, and mitigating operational and financial risks.

Leader in Finance Internal Control will closely work with the Group HO Finance, HO Internal Control and Compliance Department to strengthen finance control environment. He/She will assess the finance risk and efficiency of process and to manage controls. He/She will also ensure compliance with the laws and regulations within all the controlled subsidiaries of the group.

REPORTING STRUCTURE

Direct Line: Sr. Director Risk, Internal Control, & Forensics

Direct Team (Hierarchical): Individual Contributor

Functional Team: Logistics

Base Location: Chennai

PURPOSE

The purpose of an Assistant Manager/Manager in Internal Control for Logistics Process is to ensure the integrity and reliability of the organizations financial reporting and operations. They play a crucial role in safeguarding assets, preventing and detecting fraud, and improving operational efficiency.

KEY RESPONSIBILITIES:

1. Establishing and Maintaining a Strong Internal Control Framework:

• Lead the process for internal controls reviews across the company including GBS as well as the upstream / downstream process.
• Ensure compliance: With all relevant financial reporting standards, accounting principles, and legal and regulatory requirements.
• Control Monitoring: The role holder is required to perform full review of the process, Risk Assessment of the Process, Testing and Deployment of new project tools(part of HO Finance Internal Control initiated). Manage and Co-ordinate with the external auditors.
• Identify and assess: Potential risks and threats to the organizations financial operations, including fraud, errors, and operational inefficiencies.
• Monitor and evaluate: The effectiveness of existing controls on an ongoing basis. In charge of reporting test results with meaningful analysis on trends, root cause etc. and presentation to relevant stakeholders
• 
  Identifying Control Weaknesses and recommend appropriate remedies. This involves evaluating the adequacy and effectiveness of existing internal control systems, policies, and procedures and making suggestions for improvement.
• Deliver adequate and timely action plans and monitor progress to address and resolve control deficiencies.

2. Reporting and Auditing:

• Work collaboratively with business and process owners to implement and monitor remediation efforts that result from internal control assessments, ensuring the effective implementation of corrective action.
• Modification of the existing method based on situational requirements for stakeholders at HO, GBSI, GBSL, GBSC, and agencies across continents
• Coordinate with external auditors: Actively engage with internal and external auditors to ensure consideration and resolution of all relevant risks and audit findings

3. Implement and maintain:

• Coach process responsible in execution control self-assessments (incl. final scoring, documentation of evidence) and definition of action plans in case of control issues.
• Perform sample check to verify quality of control execution/self-assessments and documentation and archiving of evidence.
• Support and monitor progress in remediation and resolution of control issues revealed during control self-assessments and internal/external audits.
• Ensure controls within automated systems (including but not limited to ERP systems, Bank and other applications related to finance process) are working efficiently
• Conduct frequent assessment and testing of controls withing the systems for any gaps and fix accordingly.

4. Team Leadership and Development:

• Provide guidance and mentorship: To team members on technical and professional development.
• Implement and maintain: Work environment within the team.
• Develop and conduct adequate training and prepare related information material on the internal control objectives, approach, and methodology to business partners on a regular basis to build knowledge and understanding of risks and control

5. Communication and Reporting:

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• Communicate effectively: With senior management, the audit committee, and other stakeholders on internal control matters.
• Prepare regular reports: On the status of internal controls, risk assessments, and audit findings.
• Provide timely and accurate: Information to support decision-making.

6. Staying Current with Best Practices:

• Keep abreast of: Changes in accounting standards, regulatory requirements, and best practices in internal control.

QUALIFICATION & CERTIFICATIONS:

• Chartered Accountant (CA)
• Minimum of 2 to 5+ years of progressive experience. Minimum 2+ years of experience in Internal Control Framework & Audits.

Valuable Skills and Experience:

• Strong analytical and problem-solving skills: The ability to analyze complex financial data, identify risks, and develop effective solutions is essential.
• Excellent communication and interpersonal skills: Effective communication with stakeholders at all levels, including senior management, is crucial for building relationships and influencing decisions.
• Leadership and management skills: The ability to lead and mentor a team of internal control professionals is essential for a manager-level role.
• Experience with risk management frameworks: Understanding and applying risk management frameworks, such as COSO ERM can enhance the effectiveness of internal control processes.

Come join the family of CMA CGM!