Conduct discussions to evaluate the process of onboarding vendor / counterparties on broker / AP system and the vendor due diligence / background check process, if any, followed by the Target Acquisition.
Conduct interviews and process walkthroughs to evaluate the end to end procure to pay process incl. controls, technology systems, data integrity, approvals for the identified sample transactions and the controls in place
Analyze the expenses (including prepaid expenses) incurred during last 36 months to identify suspicious / red flag transactions:
Analysis should include both trade payables (i.e. insurer payments) and non-trade payables (i.e. vendors and other third parties). Focus on trade payments should be to ensure that all counterparties are recognized, bona-fide insurance companies.
Perform sampling across all transactions (including judgmental sampling for larger transactions/counterparties and regular/statistical sampling for smaller transactions/counterparties, and conduct detailed examination on underlying documents / supporting such as invoices, agreement / contracts, bank statement etc. for such transactions to identify anomalies, if any.
Conduct public domain searches of the beneficiary entities / individuals of the identified sample transactions (Top 20 based on the value, nature and the anomalies identified based on document review) to establish existence, promoters / KMPs, nature of business and scale of business and adverse media, if any.
Attempt to identify if there are any potential dependencies between client/revenue and payments made to the third parties
Review the Target Acquisitions Anti-Corruption compliance framework and policies including but not limited to Code of Conduct as well as the frequency, quality and extent of training and education provided to its employees and vendors regarding ethics, anti-bribery, corruption and similar matters
Obtain information to understand on Target Acquisitions government interactions (including any entities that may have minority investment from government/state), including compliance with industry regulations, licenses, permits taken for Government departments etc. and involvement of third-party consultants for same purpose
Examine the systems or tools, if any, used for prevention and detection of instances of bribery / corruption
Based on the above analysis attempt to identify potential impact on the compliance with anti-bribery and corruption laws applicable to the Target Acquisition entity
Valid Indian Passport with at least one year remaining for expiry
Proficiency with MS office tool. Advanced level skills in Excel.
About you
CA with 4+ years of experience
Expertise in Due Diligence/Forensics preferably specializing in detailed analysis of payments.
Knowledge of the Insurance Brokerage Industry is an added advantage.
Advanced analytical and problem-solving skills.
Exposure to working in multicultural environments.
