Job Description
Role Purpose To lead all Spot & Special Audits, Manage outsourced audits across the organization
Role Accountability Assurance Audit as per RBIA and Regulatory Audit Coordination
- Facilitate the process for Identification of the potential service provider to conduct the Assurance Audit of IA function as per RBIA.
- Scope finalization to ensure comprehensive coverage in assurance audit & Facilitate seamlessly execution.
- Presentation of report to senior management & in ACB in co-ordination with service provider
- Work with HIA, Lead IA and cross functional teams for execution and seamless management of the regulatory audits.
- Arrange and participate in process walkthroughs for regulatory audits with functional teams.
- Ensure data completeness check before submission of data to external teams
Process Policy Adherence
- Review the recency & relevance of Internal Audit processes & policies to enhance where changes are needed.
- Keep track of regulatory guidelines with respect to Internal Audit and ensure the processes are enhanced as per the requirement.
- Coordinate with BE & PPRC members for approval of the IA processes / SoP /Policies
- Present relevant SoP / Processes to ACB for their notification / approval
Risk Assessment
- Implement processes to ensure that the RCM sheets are updated in a cyclic manner and post execution of audits (of needed)
- Ensure that annual risk assessment exercise is completed as per timelines.
- Align the Annual audit scope as per the risk assessment and work with HIA and Lead IA to prepare annual audit plan.
Risk Convergence
- Ensure adherence to regulatory guideline and act as convenor for risk convergence meetings
- Risk theme from regulatory guidance to be put for table discussion.
- Facilitate quarterly meeting for Audit risk and compliance and ensure agenda items and way forward is timely circulated
- Collation of all common risks identified to be presented jointly to ACB by the end of the year
- Adherence to regulatory guidelines to be ensured with collation of vertical involved.
SPOT & Outsourced Audits
- Planning & Resource allocation to perform the spot audits assigned by the management.
- Track risk events within the company and across industry in order to devise triggers for special audits.
- Facilitate the process for Identification of the potential service providers to conduct the Outsourced Audits
- Ensure seamless execution of the planned outsourced audits.
- Regular Update to HIA and Lead Internal Audit on the audit outcomes.
Measures of Success(Define the Outcomes expected of the role) 1. Completion of Quality Assurance Audit exercise as per timelines & Plan
- Action planning & closure of QA observations & non conformance
- Effective coordination with RBI/Stat bodies to complete the assessment as per plan.
- Updation of processes and awareness trainings
- Completion of Risk Assessment exercise as per planned timelines
Technical Skills / Experience / Certification (If any) 1. Deep understanding of Credit Card/Financial Services industry, its emerging trends, issues, challenges, key players and leading practices as well as intricacies of outsourcing arrangements in financial services industry
- Possess adequate know-how of processes/internal audit/risk/regulatory and statutory compliance activities
Competencies critical for role with High Proficiency Analytical ability & Problem-solving skills
Verbal and written communication
Result Orientation
Key External Stakeholder(s) Vendors, Consultants
Key Internal Stakeholder(s) All functions
Must have Qualification Professional Qualification which may include (CA/ MBA / ICWA / CIA)
Over All experience in role 15-18 years of post qualification experience
Relevant Experience with respect to the role 8-10 years of experience in risk & process consulting or operations or Internal Audit/compliance function role in the industry
