Internal Audit Manager – Retail

Job Description:

Job Title: Internal Audit Manager – Retail
Department: Internal Audit / Risk & Compliance
Reports to: Head of Internal Audit / CFO / Board Audit Committee

Job Purpose:

The Internal Audit Manager is responsible for evaluating and improving the effectiveness of risk management, control, and governance processes within the retail operations. This includes overseeing audits across store locations, distribution centers, and head office functions to ensure financial integrity, compliance, operational efficiency, and asset protection.

Key Responsibilities:

1. Audit Planning & Execution:

• Develop risk-based annual audit plans covering retail stores, warehouses, and corporate functions.
• Lead and perform financial, operational, compliance, and inventory audits.
• Evaluate internal controls, identify gaps, and recommend improvements.

2. Store & Inventory Audits:

• Conduct surprise cash counts, stock audits, and POS system reviews.
• Ensure adherence to SOPs in cash handling, billing, returns, and discounts.
• Identify pilferage, shrinkage, or fraud risks and recommend mitigation actions.

3. Compliance & Regulatory Oversight:

• Ensure compliance with company policies, statutory requirements, and industry regulations (e.g., tax, health & safety, labor laws).
• Monitor adherence to ethical standards and anti-fraud frameworks.

4. Reporting & Documentation:

• Prepare audit reports with clear findings, risk ratings, and actionable recommendations.
• Present key observations to senior management and follow up on agreed action plans.
• Maintain comprehensive and organized audit workpapers.

5. Process Improvement & Risk Management:

• Identify operational inefficiencies and suggest process enhancements.
• Participate in the development and review of retail SOPs and internal control frameworks.
• Support business units with risk assessments and internal control training.

6. Team Supervision & Collaboration:

• Manage and mentor audit team members and coordinate with cross-functional departments.
• Work closely with IT, finance, and operations teams to assess systems and business controls.

Qualifications and Skills:

• Bachelor’s degree in Accounting, Finance, or related field (CA, CIA, or CISA preferred).
• 5–8 years of internal audit experience, preferably in the retail or FMCG sector.
• Strong knowledge of internal controls, retail operations, inventory management, and POS systems.
• Proficiency in audit tools and ERP systems (e.g., SAP, Oracle, Navision).
• Excellent analytical, communication, and report-writing skills.
• Integrity, attention to detail, and ability to work independently.

Key Competencies:

• Risk and control awareness
• Investigative mindset
• Stakeholder engagement
• Time management and organizational skills
• Problem-solving and adaptability