Paraduman Mahajan

Industries: Financial Services - Insurance | Banking |Capital Market Roles: SOX - ICFR Testing, Internal Audit, External Quality Review, Internal
Control Review (EQR)
• Led end-to-end ICFR (Internal Controls over Financial Reporting) assessment for a leading insurance group in the Middle
East, covering Design Effectiveness and Operating Effectiveness testing across 21 critical processes — including life, motor,
medical & commercial claims, underwriting, finance, reinsurance, actuarial, ITGC, AP/AR, HR, investments, and tax.
• Executed SOX-ICFR testing for one of the largest banks in the Kingdom of Saudi Arabia — evaluated design and operating
effectiveness of key financial reporting controls, identified control gaps, and collaborated with process owners for timely
remediation aligned with SOX compliance requirements.
• Conducted Internal Controls Review (ICR) for the Corporate & Business Group (CBG) segment of a major Saudi bank,
assessing controls across critical banking processes and delivering practical recommendations to strengthen the control
environment.
• Executed an External Quality Review (EQR) for a major Saudi bank in conformance with Global Internal Audit Standards
(GIAS) 2025 issued by the IIA, assessing audit methodology, quality assurance processes, stakeholder engagement, and
overall operational effectiveness.
• Conducted internal audit of Compliance and Finance functions for a leading capital markets company in Saudi Arabia — risk
based audit procedures evaluated control adequacy, regulatory adherence, and financial reporting integrity; findings
reported to senior management and the audit committee.
• Performed Quality Assurance (QA) reviews of internal audit working papers and files, ensuring adherence to established
standards, accuracy of findings, and completeness of documentation.
• Conducted comprehensive risk assessments across diverse business processes to identify key controls and evaluate their
effectiveness in mitigating financial and operational risks.
• Partnered with process owners to remediate control deficiencies, streamline operational processes, and implement
targeted enhancements to the internal control environment.
• Conducted process walkthroughs across multiple functions, leveraging SOPs and process guidelines to develop thorough
understanding of business operations and validate control design.
• Performed in-depth data analysis considering materiality, transaction nature, source, derivation, and account balances to
uncover insights and support informed audit conclusions.
• Coordinated with business stakeholders to gather information, ensure accurate process documentation, validate control
effectiveness, and address deficiencies in a structured and timely manner.

Industries: Financial Services - Insurance | FMCG | Roles: SOX Testing, Internal Audit, AML Compliance
• Led testing of key controls for assessing design and operating effectiveness across SOX-compliant financial reporting
processes for a major insurance client.
• Conducted comprehensive internal audit of the Anti-Money Laundering (AML) process — assured compliance with IRDAI
regulations and monitored adherence to policies for training agents and employees.
• Performed process walkthroughs with stakeholders, leveraging SOPs and guidelines to develop thorough understanding of
existing business processes across multiple engagements.
• Conducted risk assessments to identify key controls and evaluate effectiveness in mitigating financial and operational risks;
collaborated with process owners to remediate control deficiencies and improve process efficiency.
• Worked with management to enhance control verbiage in line with changes in control activities and updated regulatory
requirements.
• Performed data analysis considering materiality, nature of activity, source of balance, and derivation of balance to support
audit findings.
• Conducted a comprehensive internal audit of Contract Packer (CP) operations at Britannia Industries (FMCG), including
review of procurement-to-payment process and adherence to the Delegation of Authority (DOA).
• Analyzed and assessed physical verification reports and professionally summarized quality review outcomes for senior
managements use in board meetings.
• Managed project operations: internal timesheet tracking, team timesheet reviews, and leave calendar maintenance.