Location Name: Ahmedabad
Job Purpose
To act as a key team member of the Corporate Audit Services (CAS). Ensure contribution in planning, scoping & execution given areas of business/function reviews covering Process controls, IT controls, Compliance & Finance linkage. Frame the audit observations citing process gaps, simplification & value addition. Discuss the audit observations & obtain preliminary audit responses under the supervision of National Leads. Additionally, contribute to team activities such as Documentation, knowledge sharing & keeping updated with organizational development.
Duties And Responsibilities
- Planning
- Engage with Gold Loan business stakeholders / branch teams to understand branch operations, portfolio profile, assaying practices, custody arrangements, auction process, and key operational risks.
- Finalise audit scope covering sourcing, valuation & assaying, LTV compliance, documentation, vault management, auctions, KYC/AML, and regulatory compliance.
- Define audit approach, sampling methodology, branch coverage, and identify BIU / MIS / system data requirements upfront for effective audit execution.
- Audit execution
- Conduct detailed fieldwork covering customer onboarding, gold valuation, sanctioning, documentation, packet sealing, vault custody, reconciliation, auction procedures, collections, and accounting controls.
- Perform physical verification of gold packets, surprise checks, system validations, maker-checker testing, and review adherence to RBI guidelines and internal SOPs.
Identify process gaps, fraud indicators, operational weaknesses, policy deviations, regulatory non-compliance, and opportunities for process simplification and control strengthening.
- Audit presentation and review
- Prepare draft audit reports highlighting key observations, risk implications, root causes, and actionable recommendations for improvement.
- Present audit findings to business / branch stakeholders and management through audit discussion meetings and explain the severity and impact of observations.
- Support preparation of management presentations, dashboards, and audit summaries for senior management / leadership review.
- Audit Closure & Action Monitoring
- Discuss and agree audit observations with stakeholders and obtain management responses for each observation.
- Partner with business teams to define Corrective and Preventive Actions (CAPA), responsibility owners, and target closure timelines.
- Track closure status of observations, validate implementation of agreed actions, and ensure sustainable remediation of identified risks and control gaps
Required Qualifications And Experience
- Qualifications
- Minimum Qualification: MBA ( Finance) or equivalent
- Work Experience
- 5+ yrs of experience in Gold Loan Operations
- Should be with a bright academic record or have worked with Big 4 firms / reputed companies.
- Strong acumen to analytical skills, process approach, out of box thinking, interpersonal communication and ability to assess the processes in light of the business impact.
