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Associate Manager Internal Audit

Air India • Gurugram, HO • 1d ago

Job Purpose

Supporting the Head of Internal Audit & Risk Management in identifying, evaluating, and mitigating operational and strategic risks within the airline, ensuring adherence to governance and compliance standards.
Developing risk management strategies and frameworks that safeguard the airline's assets, reputation, and regulatory compliance, contributing to the overall resilience and sustainability of the organization.

Key Accountabilities

Functional Activities

Assist in the development and implementation of risk management policies and procedures to identify, assess, and mitigate risks across the airline's operations.
Conduct regular risk assessments, analyzing findings to recommend improvements and ensure compliance with regulatory standards and internal policies.
Collaborate with various departments to integrate risk management practices into daily operations, enhancing the airline's risk awareness and prevention capabilities.
Monitor and report on the effectiveness of risk management strategies, providing actionable insights to senior management for decision-making.
Facilitate training sessions for staff on risk awareness and compliance procedures, fostering a culture of risk management across the organization.
Stay updated on industry trends, regulatory changes, and best practices in risk management, ensuring the airline's risk mitigation efforts are current and effective.
Utilize data analytics tools to identify trends, anomalies, and opportunities for improvement in internal controls and risk management.

Any other additional responsibility could be assigned to the role holder from time to time as a standalone project or regular work. The same would be suitably represented in the Primary responsibilities and agreed between the incumbent, reporting officer and HR.

Skills Required for the role

Financial Operations, Processes & Controls	In-depth knowledge of risk assessment methodologies
Analytical Skills

Key Performance Indicators

Risk Management and Compliance	Risk Mitigation Effectiveness: Percentage reduction in identified risks due to implemented mitigation strategies, showcasing the effectiveness of risk management efforts. Compliance Rate:Measure of adherence to relevant regulatory and internal compliance standards, aiming for a near 100% compliance rate.
Regulatory Compliance and Performance	Risk Awareness Training Completion: Proportion of employees completing risk awareness and compliance training sessions, reflecting the organization's commitment to fostering a culture of risk management.

E. Key Interfaces

Internal Interfaces
Function / Business Heads	Collaborate with functional heads to understand their specific operational needs, assess risks within their areas, and provide guidance on control frameworks and process improvements
External Interfaces
External Auditors	Coordinate with external auditors to ensure alignment and minimize duplication of efforts in audit execution

F. Educational and Experience Requirements

Minimum Education requirements	MBA / BE /CA / CMA
Experience	Minimum	Desired
Experience	5-7 years in a risk management / IA position for a Large Organization	3+ years in Risk management / IA execution role. Experience in Airline / Retail / Service industry preferred