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About the organization: Agora Microfinance India Ltd (referred to as AMIL) began its specialized urban microfinance operations in the slums of Mumbai in 2011-12. AMILis registered as a public limited Company, regulated by the Department of Non-Banking Supervision (DNBS), the Reserve Bank of India (RBI). The Mumbai urban market offers the opportunity of reaching large numbers of underserved populations who work in diverse and vibrant local economies within Mumbai. AMIL aims to become a market leader in urban microfinance, by developing an in-depth understanding of the financial needs of low-income clients, and by using innovative approaches and delivery mechanisms to deepen financial inclusion. Its mission is to provide affordable, convenient & timely financial services to low income urban clientele in a financially sustainable manner”, arising out of its philosophy to provide high-quality financial services, maintaining a strong focus on client protection and social performance. About the Job: The duty of an Internal Audit Officer (IAO) is to independently, impartially, and systematically appraise the operating units and internal controls of a company. He or she should have a sound understanding of the systems and procedures of the company as a whole, as well as the specific roles and activities of each unit within it and must be freely able to communicate with anyone in the company to obtain information. The Internal Auditor determines whether the company’s documented operating policies and procedures are easily and clearly understood, whether they are sufficient, whether they are used effectively and consistently, whether the company’s management effectively identifies and minimizes risks, whether staff consistently adhere to written external regulations and internal policies and procedures, whether gaps in internal controls or policies and procedures are present and whether resources are used efficiently and to the benefit of the company. Furthermore, it is the Internal Auditor’s function to be directly and actively concerned with detecting and preventing frauds. Internal Audit is ultimately geared toward assisting all members of the company to fully understand and effectively perform their duties, and toward the achievement of the company’s overall objectives. Tasks and Responsibilities: The IAO is responsible for systematically examining all of a branch’s financial transactions to ensure the accuracy and adequacy of accounting records and systems, and to locate and identify discrepancies, if any. Check the branch’s adherence to personnel management and administrative policies; Check branch compliance with accounting and internal control protocol by: Confirming authorization for cash disbursement and office expenses. Scrutinizing accounts classification. Scrutinizing cash handling procedures. Confirming a separation of duties such as prohibits opportunities for fraud. Confirming the safekeeping of cash and files. Assessing the adequacy of staff volume to the branch’s current level of business. Verify balances in client loans, DCB using MIS Software. Visit the clients place. Verifying initial KYC documents, loan application on needs basis. Confirming loan balances. Ensuring proper update of documents with clients, receipts, loan repayment card etc. Ascertaining the branch’s adherence to operational procedures. Ascertaining the existence and true value of accounts by: Counting and reconciling cash on hand with the Daily Cash Journal. Confirming balances of inventories, loans, repayments, etc. Scrutinizing the rate of aging on receivables. Confirming account value information with creditors and debtors. Checking allocated budgets against actual expenditures to report any discrepancies. Checking the inventory list and depreciation schedule. The IAO will confirm that the branch’s assets agree with its official inventory list, and that its fixed assets are accurately and consistently depreciated. Discussing the audit process with branch management and staff prior to conducting it, and afterward to clarify initial findings and recommendations. To preparing audit reports; and to ensure the branch’s compliance of audit recommendations. Qualifications: A bachelor’s degree (preferably in commerce or accounts). At least one or two years of working experience in branch internal audit at microfinance company. Ability to detect and interpret patterns in financial data. Ability to assess and improve financial systems and procedures. Familiarity with accounting and auditing procedures generally. Excellent spreadsheet analysis skills. Attentiveness to detail, ability to manage multiple tasks and meet deadlines. Supervisory experience and ability to be impartial. Character of integrity and honesty. Ability and willingness to identify frauds and forgeries. Excellent communication skills in written and spoken English.

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Confirmed 15 hours ago. Posted 28 days ago.

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