Job Description

Job Description -Team Member - Gold Loan Audit (Offsite)

Enriching Lives Winning as ONE

ABC Company Info:

Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group. With subsidiaries/JVs that have a strong presence across Protecting, Investing and Financing solutions, ABCL is a financial solutions group that caters to the diverse needs of its customers across their life cycle. Powered by more than 38,000 employees, the businesses of ABCL have a nationwide reach with over 1300 branches, more than 2,00,000 agents/channel partners and various bank partners.

Aditya Birla Finance Limited:

Aditya Birla Finance Limited (ABFL), a subsidiary of Aditya Birla Capital Limited, is among the leading well-diversified non-banking financial services company in India. ABFL offers customized solutions in the areas of personal finance, mortgage finance, SME finance, corporate finance, wealth management, debt capital markets and loan syndication.

What makes an ideal ABC Citizen

At ABC, we are constantly on the lookout for individuals who resonate with our 5 core values of Speed, Passion, Integrity, Seamlessness and commitment and live them every day, while also understanding our vision. We believe in building leaders who thrive on challenges, take the onus of creating and sustaining strong teams, and forms strong networks as a result of effective relationship-building.

Role Details:

Business	Aditya Birla Capital
Unit	Aditya Birla Capital Limited
Location	Mumbai
Role	Team Member - Gold Loan Audit
Department	Audit
Eligibility Criteria	Bachelor or master's degree, Experience in Collection for mid market/corporate

Required Skills & Competencies

Analytical thinking and attention to detail.
Integrity and strong ethical standards.
Effective communication and reporting.
Process orientation and innovative mindset.
Networking and stakeholder management.
Ability to understand complexity of deal
Flexibility for travel and on-ground for collection.
Technical proficiency in MIS and fraud systems.

Key Result Areas

Supporting Actions

Development ofOffsiteAudit Strategy and Plan

Develop and manage the audit strategy and plan for proactively and qualitatively conducting the Offsite gold loans audits (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) covering the key areas across the end to end gold loans lifecycle factoring the nature of business, level and direction of risk, extent and nature of collateral, scale of operations, level of digitalisation and use of technology, use and involvement of third party vendors/partners, complexity & diversity of the gold loans portfolio, the organization strategy, culture and maturity

Develop offsite gold loans audit plans (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) ensuring use of advanced integrated auditing concepts and extensive use of technology and data for achievement of the audit objectivesSet up and develop specialised gold loans offsite audit team (including central offsite audit team and surprise auditors) for execution of offsite gold loan audit reviews including specialised areas such as collateral valuation and purity checks, and other key areas across gold loans lifecycle

Execution of Audit Strategy and Plan

Effective management and execution of the Offsite gold loans audits (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) for proactive identification and remediation of Credit risk and the related risks such as regulatory, financial, operational risks.

Drive and manage Offsite gold loans audits (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) testing controls covering entire Lifecycle of gold loans across branches, product and channels in ABCL NBFC in accordance with the Policies, Procedures, Legal and Regulatory requirements, Internal Audit Standards, and leading best practices
Drive and manage Offsite gold loans audits (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) covering controls over various risks inherent in the entire Lifecycle of gold loans in accordance with the Policies, Procedures, Legal and Regulatory requirements, Internal Audit Standards, and leading best practices Identify the areas requiring strengthening of controls and recommend systemic improvements for mitigating the risks
Conduct Offsite gold loans audits (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) assess the adequacy and effectiveness of the monitoring processes and controls covering various key activities and areas in the gold loans lifecycle including collateral valuation and management, gold loans sanction, disbursement and servicing, recovery and auction processes, safekeeping and physical security

Conduct review of gold loans system controls in both the Loan Origination System and Loan Management Systems related to automated business and operational process controls to assess adequacy and effectiveness of the controls such as those related to customer onboarding, loan booking and disbursement, asset classification etc.

Conduct offsite reviews of gold loans to assess adequacy and effectiveness of controls for compliance with applicable laws and regulations such as regulations related to KYC/AML, fair practices, LTV and interest rates, collateral valuation safe-keeping and release, exposure management, income recognition, asset classification, auction, recovery and settlement etc.Manage and execute offsite gold loans audit through in-house or co-sourced professional audit resources with suitable coverage commensurate with the scale and complexity of the gold loans business, product, channels to effectively complement the risk-based 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 offsite gold loans audit coverage of various risks including Credit, Regulatory, Financial, and Operational risks arising from gold loans portfolio and lifecycle

Keep offsite gold loans audits (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) 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 gold loans offsite audit plan and projects along with quality of audits, and meet with all audit documentation and reporting requirements as per risk based internal 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

ContinuousControlMonitoringand Offsite Audit

Develop strategies for identification of triggers / risk hotspots and conduct unplanned surprise reviews / checks based on various triggers/ hot spots, directives received from regulators, board committees and senior management
Keep abreast of the emerging gold loans offsite audit trends and drive key offsite audit initiatives for efficient and effective achievement of the audit objectives
Explore and use emerging technology solutions to build and implement a continuous control monitoring and offsite gold loans audit process for proactive and ongoing assessment of controls across various risks in the gold loans lifecycle including Credit, Regulatory, Financial, Fraud and Operational risks, arising from gold loans portfolio and lifecycle processes across branches, product and channels in ABCL NBFC to ensure, timely and proactive identification and resolution of significant risk and control issues Identify and develop automated tests for monitoring effectiveness of controls on an ongoing basis

Communication and Stakeholder Engagement

Effective communication and reporting to various stakeholders including regulators, board committee and senior management

People Management

Develop specialised gold loans offsite audit team for execution of complex and specialised audit reviews covering gold loans portfolio and lifecycle processes across branches, product, channels

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

Key Responsibilities:

Important

Aditya Birla Capital and its member companies do not demand or accept money from job applicants.
Any job offer made against a service charge or security deposit or processing fees or background verification expenses or any other terms, whether refundable or non-refundable should be considered fake.
An authentic job offer mail from us will have our domain name (adityabirlacapital.com).
Please be aware of fraudsters using fake URLs to mask themselves as senders from reputed organisations. Hence always check and verify the email ID.
Any mail offering a job, interview date and asking for personal details should be handled with caution, especially if the mail address list also includes email IDs ending with Gmail/Yahoo/Hotmail/Live domains.
In case a job applicant is offered a job against payment in any form, or has accepted employment from fraudulent persons,Aditya Birla Capital and its member companies will NOT be held liable and responsible for any consequences thereof.
Please remain vigilant of such offers and notify us.You may also lodge a complaint with the law enforcement agencies.
Beware of fake websites, email IDs, Facebook, LinkedIn pages that appear similar to ours.
We reserve the right to initiate any appropriate action as we deem fit.

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