About This Role
This internal auditor role involves assisting in conducting risk-based internal audits across various functions of a general insurance business. The position ensures adherence to internal policies, regulatory requirements, and industry best practices, and suits a candidate with experience in internal audit, operations, underwriting, claims, or compliance.
Responsibilities
- Conduct audits as per the approved annual audit plan
- Perform process walkthroughs and document understanding of business processes
- Test internal controls and identify control gaps
- Verify compliance with company policies, IRDAI regulations, SOPs, and delegated authorities
- Execute sample-based transaction testing and data analysis
- Review underwriting decisions for compliance with underwriting guidelines
- Verify premium calculations, discounts, loadings, and policy issuance controls
- Identify instances of policy deviations and exceptions
- Review motor, health, and other claims for compliance with claim settlement procedures
- Verify claim approvals, reserves, recoveries, repudiations, and fraud controls
- Assess claim leakage and operational efficiency
- Conduct branch audits across PAN India locations
- Review operational controls, customer servicing, cash handling (if applicable), and document management
- Verify compliance with statutory and regulatory requirements
- Monitor compliance with IRDAI guidelines and internal policies
- Assist in risk assessment and control evaluation exercises
- Track implementation of audit recommendations
- Prepare audit observations with supporting evidence
- Draft audit reports highlighting risks, root causes, and recommendations
- Follow up on closure of audit findings
- Analyze large datasets to identify unusual trends and exceptions
- Support continuous auditing and monitoring initiatives
- Prepare MIS and audit dashboards
Requirements
- 1
- 3 years of experience in Internal Audit, Operations, Underwriting, Claims, or Compliance (Junior Level)
- 3
- 7 years of experience in Internal Audit, preferably in General Insurance (Middle Level)
- CA Inter / CA / CMA / MBA (Finance/Insurance) / B.Com / BSc./ M.Com
- Knowledge of General Insurance products and processes
- Understanding of underwriting and claims operations
- Awareness of IRDAI regulations and compliance requirements
- Strong analytical and report-writing skills
- Good communication and stakeholder management abilities
