Job Description

Job Purpose -

Purpose of this role is to execute the Audit Strategy and Plan for Branch Audits covering all the key areas across sales, credit, operations, collections, risk management, compliance, finance & accounts, HR & admin, customer service, marketing, etc to assess adequacy and effectiveness of risk management and controls, and adherence to internal policies and procedures as well as applicable laws and regulations.

KRA's -

Key Result Areas

Supporting Actions

Development of Audit Strategy and Plan

Support in development of audit strategies for identification and assessment of various risks in Branches including Compliance risk, Legal risk, Fraud risk, Operational risk, Third party risk/Outsourcing risk, Liquidity risk, Financial risk, People risk, Reputational risk etc., and current maturity level of controls in these functions.

Support in development of audit plans based on risk assessment and regulatory framework ensure use of advanced integrated auditing concepts and extensive use of technology and data analysis for achievement of the audit objectives

To be part of specialised audit team for timely and quality execution of complex and specialised audit reviews covering all the key areas

Execution of Audit Strategy and Plan

Effective execution of the audit plan in accordance with the Policies, Procedures, Legal and Regulatory requirements, Internal Audit Standards, and leading best practices for proactive identification and remediation of various risks including Compliance risk, Legal risk, Fraud risk, Operational risk, Third party risk/Outsourcing risk, Liquidity risk, Financial risk, People risk, Reputational risk etc.

Conduct Branch audits to provide independent and objective assurance on the adequacy and effectiveness of risk management and controls, and adherence to or compliance with the internal policies, standards and procedures as well as applicable laws and regulations

Conduct thematic and specialised audit reviews to assess the adequacy and effectiveness of the risk management and controls covering various key activities and areas such as legal and compliance risk management, fraud risk management, operational risk management, third party risk/outsourcing risk management, vendor payments, general ledger and accounting controls, regulatory reporting, operations and customer service, complaints management, procurement and facilities management etc.

Conduct review of application controls (automated business process controls) in the applications used by Branches and management information systems to assess adequacy and effectiveness of the controls

Proactive oversight on appointment and scope of work of external firms (if required) for conducting Branch audits

Provide effective recommendations for improvements to the organization policies, processes and practices based on leading industry practices and emerging risks

Develop processes for adequate and effective audit coverage of various risks including Compliance risk, Legal risk, Fraud risk, Operational risk, Third party risk/Outsourcing risk, Liquidity risk, Financial risk, People risk, Reputational risk etc. and various applicable laws and regulatory circulars / guidelines across various regulators

Keep audit procedures and checklists current and updated keeping pace and aligned with changes in internal policies/guidelines as well as legal/regulatory changes and evolving industry best practices

Ensure timely completion of audit projects along with quality of audits, and meet with all audit documentation and reporting requirements as per audit policy and procedures and leading best practices

Active engagement with stakeholders for implementation of recommendations for effective risk mitigations and improvement in the control environment

Continuous Monitoring

Identify triggers / risk hotspots and conduct unplanned reviews / investigations based on various triggers/ hot spots, directives received from regulators, board committees and senior management

Keep abreast of the emerging audit trends and drive key audit initiatives for efficient and effective achievement of the audit objectives

Support in Implementation of an effective continuous monitoring framework for ongoing monitoring of risk relating to various processes in the Branches Identify and develop automated test for ongoing monitoring of Credit risk and Credit Lifecycle Processes risks such as regulatory compliance risk, financial risk, operational risks across the lines of business/segments/products/channels

Communication and Stakeholder Engagement

Effective communication and reporting to various stakeholders including senior management

People Management

Develop, nurture and grow talent through effective employee engagement and management
Continuous development of self and the team through regular learning and sharing of knowledge / best practices.

Team Member - Branch Audit