Murtaza Lotia, Lead Compliance Specialist

Murtaza Lotia

Lead Compliance Specialist

TELUS Health

Location
Canada - Ontario
Education
Diploma, Pursuing certification, Cleared 3 of 4 parts
Experience
38 years, 10 Months

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Work Experience

Total years of experience :38 years, 10 Months

Lead Compliance Specialist at TELUS Health
  • Canada - Toronto
  • My current job since June 2023

• Manage and liaise with external auditors SOC1 Reporting for various divisions and applications
• Manage and coordinate SOC1 deliverables to external clients
• Assist in developing and executing Regulatory Compliance Framework
• Assist in other ERM projects regarding Risk Management
• Assist in Internal Audit projects

Member Auditor at Product Care Association
  • Canada - Toronto
  • June 2019 to May 2023

• Manage all review assignments of the Members (companies selling obligated products such as paints, lights, hazardous materials, small electronics, major appliances etc) and other Associations independently and timely from planning, scheduling to executing
• Conduct scope-specific reviews and compliance assignments (for recycling/environmental levies) for the Members and identified missed revenue
• Finalize Reports and issue Results Letters and explaining conclusion to the Members (or Associations)

Internal Auditor at OGELP
  • Canada - Ontario
  • October 2016 to April 2018

OGELP is a subsidiary of Great Canadian Gaming Corporation and manages various casinos in Ontario. Casinos provide various gaming options and also has high end restaurants.
• Manage all audits independently and timely from planning, scheduling to executing based on audit plan
• Test design and operative effectiveness of in-place controls; prepare work papers and supporting documentation summarizing the results of test procedures performed
• Draft internal audit reports, obtain management feedback/action plan

Partner at AccounTax Force
  • Canada
  • July 2014 to September 2016

A firm engaged in providing services in the field of accounting, auditing, administrative services and internal controls. Services provided included:
• Prepared monthly accounts, reconciliations, trial balance, monthly and year-end financial statements
• Reviewed systems and procedures, identified weaknesses and flaws in internal controls and suggested improvements which improved efficiency and effectiveness at client’s businesses
• Successfully provided internal audit, internal controls and risk management services to client satisfaction

Compliance Manager at Your Assistant Inc.
  • Canada
  • October 2009 to November 2013

Your Assistant Inc is an accounting firm based in Alberta. It provides services in areas of reviews, accounting, consultancy, documentation of policies & procedures, database and computer software assistance, and accounting software packages assistance. Job responsibilities were as follows:
• Manage all the review assignments independently from planning, scheduling to executing
• Conducting scope-specific review and compliance assignments
• Reviewing systems/procedures, identifying weaknesses and flaws in internal controls, suggesting improvements
• Drafting Review Reports, discussing with management and clearing for final release

Senior Internal Auditor (Deputy to Chief Internal Auditor) at Qalhat LNG
  • Oman - Muscat
  • February 2009 to August 2009

QLNG is an Oman based international energy company. It was established in 2003 with the purpose of processing, marketing and transporting liquefied natural gas (LNG) and condensate. Job responsibilities were as follows:
• Assisting Chief Internal Auditor (CIA) in the preparation of audit committee materials, responses of queries, various minutes of meetings, drafting company policies, internal audit planning and staff hiring
• Conducting and finalizing internal audits without any supervision to clear the accumulated back log
• Drafting internal audit reports and discussion with CIA and management to obtain feedback and action plan
• Working on the updates of company Risk Registers and follow up on agreed upon action plans
• Allocating, supervising and reviewing audit work conducted by staff including audit planning and programs

Head of Internal Audit at SAMA Airlines
  • Saudi Arabia - Riyadh
  • March 2008 to December 2008

A Dammam based low-cost airline which commenced its domestic flights in May 2007. The airline is a short-haul carrier serving destinations across the Middle East with a fleet of 7 aircrafts. The position included:
• Preparation of Internal Audit Charter and Internal Audit Manuals
• Preparation of full year internal audit and staffing plan for financial audits, systems and internal controls audit
• Conducting and finalizing internal audits. Also conducted investigations (fraud, discrepancies, over-riding of company policies and procedures) on behalf of top management
• Drafting internal audit reports and discussion with management to obtain feedback and action plan
• Liaising with external auditors

Internal Auditor at Xstrata Canada Ltd
  • Canada
  • August 2007 to March 2008

Xstrata is a global diversified mining group, with operations and projects in 18 countries. It is listed on the London and Swiss Stock Exchanges, with its headquarters in Zug, Switzerland. Responsibilities included:
• Liaising with external accountants who were outsourced the internal audits to ensure audit objectives are met, co-ordinate and conduct field work, discuss and draft audit findings for audit manager review
• Effectively plan, design and execute audits with minimal supervision
• Conducting risk and control assessments, working with business process owners on identification and update of risks, and assessment of control to mitigate such risks. Follow up on agreed upon action plan
• Drafting internal audit reports and discussion with management to obtain feedback and action plan

Internal Auditor at Aramark Canada Ltd
  • Canada
  • December 2006 to February 2007

Aramark is a leading provider of managed services. It provides food, beverage, cleaning and support services to a wide range of clients and business environments. Responsibilities included:
• Introduce and implement Risk Based Audit Approach, assist establish the internal audit department accordingly and liaise with SOX team.
• Reviewing systems and procedures, identifying weaknesses and flaws in internal controls, suggesting improvements and trouble shooting accounting issues of consultancy clients
• Effectively plan, design and execute audits with minimal supervision
• Drafting internal audit reports and discussion with management to obtain feedback and action plan

Senior Internal Auditor at INCO Ltd.
  • Canada
  • July 2005 to November 2006

Inco is one of the world’s premier mining and metals company, a key producer of nickel and an important producer of copper, cobalt and precious metals. Currently Inco is in the process of acquiring another Canadian mining giant, Falconbridge. After acquisition, New Inco would employ over 25, 000 people (currently over 12, 000) around the world at their mining operations, production facilities, research centre, and through their extensive marketing and sales network. Inco is publicly traded and its common shares are listed on seven major stock exchanges around the world. Report to Regional Audit Manager, North America and UK. Key Accountabilities are as follows:

• Effectively plan, design and execute audits with minimal supervision
• Leading the audits, providing advice, guidance and assistance to audit team members, reviewing audit work and recommending solutions to problems encountered
• Contributing to efforts to meet Inco’s ongoing compliance with sections 302 and 404 of Sarbanes-Oxley Act of 2002 (USA) relating to the periodic evaluation of internal control over financial reporting
• Conducting risk and control assessments, working with business process owners on identification of risks, and documentation and assessment of control to mitigate such risks
• Assisting with control self-assessment process
• Evaluating the effectiveness of control design, working with process owners to develop remedial action plans/recommendations to address control design weaknesses, and following up to ensure remediation has been implemented
• Testing operative effectiveness of in-place controls, preparing work papers and supporting documentation summarizing the results of test procedures performed
• Participating in the continuous development of Internal Audit processes and methodologies
• Participation in the continuous development of Inco’s risk management and control maturity by educating and transferring risk and control knowledge to business process owners

Financial Analyst/Internal Auditor at Biolab Equipment Ltd
  • Canada
  • July 2003 to March 2005

Biolab Equipment Ltd., Oakville (A subsidiary of Cantel, USA) Canada
A company engaged in distribution of water purification systems. The position required overseeing financial matters of this company acquired by Cantel in July 2003 and my achievements include:

· Implementing and ensuring proper month-end/quarter-end/year-end financial close procedures
· Implementing adequate internal controls over inventory/work-in-progress, sales & cut-off procedures
· Documenting system narratives for sales/accounts receivable, purchases/accounts payable, inventory and receipts/payment (for COSO and SOX compliance)
· Improvement and review/follow up on monthly financial statements
· Liaising with external evaluators for the calculation of goodwill and other intangible
· Liaising with external auditors for the audit of the opening balances at the acquisition date and Y/E
· Preparation of monthly and yearly post-acquisition budgets
· Assisting controller in preparation of monthly/quarterly US reporting package/s

Consultant at Padgett Business Services
  • Canada
  • June 2002 to June 2003

A firm engaged in providing services in the field of accounting, auditing, administrative services and internal controls. Assignments and achievements included:
• Preparing monthly accounts, reconciliations, trial balance, monthly and year end financial statements of accounting clients
• Reviewing systems and procedures, identifying weaknesses and flaws in internal controls, suggesting improvements and trouble shooting accounting issues of consultancy clients

Internal Audit Manager at Naghi Group of Companies
  • Saudi Arabia - Jeddah
  • June 1995 to April 2002

Naghi Group - Dealerships (BMW, Hyundai, LG and Phillips) and Transportation, Jeddah, Saudi Arabia

Major achievements included review and update of company manuals, preparation of internal audit manuals and critical review of policies, procedures and operations in various departments with objectives of identifying redundancies and suggesting improvements to achieve effectiveness/efficiency and cost/time savings. Reported to Executive Vice President. This involved:

· Preparation of full year internal audit plan for financial audits, systems and internal controls audit and departmental/divisional audits, including staff planning
· Reviewing and finalizing internal audits. Also conducted investigations (fraud, discrepancies, over-riding of company policies and procedures) on behalf of top management
· Drafting internal audit reports and discussion with management to obtain feedback and action plan
· On-the-job and classroom training of staff
· Conducted short in-house seminars for credit, non-financial and financial staff
· Extensively assisted Accounts and Finance Department for year-end closing and preparation of financial statements and schedules for external auditors
· Liaising with external auditors

Senior Accountant at Ernst & Young
  • Saudi Arabia - Jeddah
  • June 1988 to June 1995

Ernst & Young International, Jeddah, Saudi Arabia
Performed and supervised statutory and special audits of a number of major clients of Saudi Arabian practice. Audits included industries such as trading, oil, construction and financial services. Responsibilities included:
· Planning, supervising and finalizing audits ensuring proper coverage and appreciation of auditing principles and practices
· Reviewing audit work papers, identifying and resolving accounting and auditing issues
· Reviewing the financial statements for compliance with the US GAAP and International Accounting and Saudi Standards
· Communicating internal control weaknesses and suggestions for improvements
· Attending professional development courses arranged by the firm
· Providing consultancy services regarding due diligence and feasibility studies; designed financial accounting procedures incorporating internal controls
· Maintaining client relationship and conducted presentations to management and audit committees
· Participating in proposals to prospective clients
· Marketing other business community training courses offered by the firm to the clients assigned
· Providing internal training on Ernst & Young audit approach, IAS and CPA courses

Asstt. Audit Manager at Ernst & Young
  • Pakistan - Karachi
  • December 1982 to May 1988

Ernst & Young International, Karachi, Pakistan
As assistant manager was responsible for handling of approximately ten clients which included some of the major clients of Pakistani practice. Reporting to group audit manager. Responsibilities and assignments included the following:
· Preparation of full year audit plan including staff planning.
· Planned, supervised and finalized the audits.
· Reviewed audit work papers and identified and resolved accounting and auditing issues.
· Helped clients prepare the financial statements in accordance with the related applicable statute and International Accounting Standards.
· Drafted financial statements for manager and/or partner review.
· Communicated internal control weaknesses and advised clients on accounting procedures, principles and practices, regulatory requirements etc.
· Provided training to audit staff on audit approach of the firm and on International Accounting Standards and International Auditing Guidelines.

Education

Diploma, Pursuing certification, Cleared 3 of 4 parts
  • at Institute of Internal Auditors
  • December 2014
Diploma, Accounting
  • at Institute of Public Accountants, Australia
  • June 2014
Diploma, Risk Management Assurance
  • at Institute of Internal Auditors
  • March 2012
Diploma, Inernal Controls
  • at Institute of Internal Controls
  • February 2007
Bachelor's degree, Level 2 of Institute
  • at Institute of Certified General Accountants
  • November 2002

Have completed 2 levels out of 5

Diploma, Finance
  • at Institute of Financial Consultants
  • June 2001
Diploma, CA (Finalist)
  • at Institute of Chartered Accountants of Pakistan
  • March 1985
Bachelor's degree, Accounting, Auditing, Business and Commerce
  • at University of Karachi
  • October 1982

Fifth position on overall Karachi basis; awarded Merit Certificate by the College for high academic achievements.

Specialties & Skills

Internal Audit
Internal Training
Accounting
Management
Internal Controls
MS Office
Conducting Seminars and giving training
Public relations skills
Analytical, decision-making and organizational skills
Communication and presentation skills
Results oriented
Team player
Detail oriented
Team Leader/Managerial qualities

Languages

English
Expert
Urdu
Expert
Arabic
Beginner
Hindi
Intermediate
Gujarati
Intermediate
Punjabi
Intermediate
Persian
Beginner

Memberships

Inustitute of Internal Auditors
  • Member
  • February 2002
Institute of Financial Consultants - USA and Canada
  • Certified Member
  • February 2002
Institute of Internal Controls, USA
  • Certified Member
  • October 2006

Training and Certifications

Banking (Training)
Training Institute:
Ersnt & Young
Date Attended:
April 1992
Duration:
24 hours
Report Writing Skills (Training)
Training Institute:
Institute of Internal Auditors
Date Attended:
March 2006
Duration:
16 hours
Internal Audit (Training)
Training Institute:
Institute of Internal Auditors
Date Attended:
February 2006
Duration:
24 hours

Hobbies

  • Religions
  • Literature
  • Music
  • Current Affairs