Associate Vice President/Chief Manager - Risk & Assurance

AVP/ Chief Manager Risk & Assurance

JOB PURPOSE:

Business Context:

Group Assurance and Risk function supports various entities in identification and management of risks. This also includes managing certain projects which are led at the group level. As the risk function matures, it is intended that an assessment of risk functions within each of the companies is periodically carried out to assess the efficacy of the function.

Group Assurance and Risk function support in consistency and standardization of accounting matters and disclosures / other technical matters.

Group Assurance and Risk function support in standardization and review of policies, related SOPs and implementation

Group Assurance and risk function review the internal audit reports of group companies and provide recommendation on scope, efficacy of the observations and identified controls by the respective companies

Group Assurance and risk function provides directions to ensure the highest level of governance in group companies

Group Assurance and Risk function is supporting to research on various matters which could be relating to strategic transactions/ other corporate matters

Job Purpose:

- Review of various policies of all the companies and recommendation for the best practices and gaps, if any, as per the regulatory requirements/ best governance practices

- Review of SOPs and alignment of the SOPs in line with the board approved policies (all group companies)

- Review of implementation of SOPs by all group companies

- Provide recommendation on accounting/ technical matters and alignment of accounting /disclosure treatment across the group companies, as relevant

- Review of internal audit reports for the group companies and identifying the key observations & risk associated, provide recommendation on scope and efficacy of preventive controls identified

- Identifying areas and companies where governance to be strengthened and initiate projects to achieve the desired outcome

- Research on various matters which includes but not limited to valuation, competitive market, ratios, regulatory, country specific, benchmarking etc which in turn support for the corporate/strategic matters at group level

PRINCIPAL ACCOUNTABILITIES:

Accountabilities:

Policies review and SOPs, accounting matters review:

- Review of policies and SOPs for all the group companies of Client group companies and recommendation to provide best practices and alignment with the regulatory requirements (generally quarterly or ad hoc basis also)

- Reviewing the SOPs and ensuring that SOPs are relevant in line with the Board approved policies

- Review of implementation of SOPs into practice

- Harmonization of various policies such as compliance, risk etc for all the group companies

- Research on accounting and related technical topics and provide view on accounting/disclosure items of group companies (including alignment with the stakeholders)

Review of Internal audit reports:

- Review of internal audit report of group companies and provide inputs to internal audit team on scope, coverage etc

- Identify the risk and compliance focused areas which could be reviewed/ analyzed further based on the observations of internal auditors

- Continuous coordination and ongoing discussion with internal audit team on potential issues/ matters

- Review of preventive controls /recommendation

Research on various matters and recommendation on robust governance:

- Research on various matters which includes but not limited to valuation, competitive market, ratios, regulatory, country specific, benchmarking etc which in turn support for the corporate/strategic matters at group level and based on the research provide view/ recommendation of the final outcome

- Basis interaction with respective companies and participation in the respective forums, identify areas and companies where governance to be strengthened, discussion view with the seniors, provide recommendation on projects which can be driven and leading such projects

MAJOR CHALLENGES:

- Working with various companies and multiple stakeholders in the group

- Scope of work can be fluid and can expand very significantly

- Diversified tasks and ability to seamlessly manage the transition

- Interpretation of various regulatory compliance requirements, accounting standard/ other relevant technical matters/ areas like valuation / industry benchmarking/ research on the strategic matters

DECISIONS:

Decisions made by job holder:

- Gap identification and recommendation on policies, SOPs of group companies and ensuring to get these aligned with the relevant group companies

- Identifying risk and compliance focused areas based on the review of internal audit reports

- Identifying the gaps in scope, approach, preventive control etc of internal audit reports and provide view for improvement

- View/ outcome of research / accounting/technical matters

- Identify areas where robust governance is required

- Recommendations to or approval by superior

- Outcome of Accounting/technical matters/ research on relevant matters, review of identified gaps and recommendation for the resolution

- Internal audit review outcome

- Suggested changes in the policies of group companies

INTERACTIONS:

Internal Interactions:

- President / EVP for planning and monitoring progress

- Compliance/ secretarial/risk/legal/IT/business/FPUs departments of all companies for discussion the policies and SOPs review plan, execution, and discussion of findings

- Internal audit head and risk heads for discussing the findings of internal audit reports of group companies and interconnectivity of risk and internal audit observation

- Others depending on the project being led from the group

External Interactions:

- Roles you need to interact with outside the organization to enable success in your day to day work

- Limited to the extent of interactions with advisors, wherever engaged

DIMENSIONS:

Financial Dimensions:

- No direct financial targets for the role

Other Dimensions:

- Geographies: Pune

- Direct Reportees One at manager level. However, extensive interactions with group companies would be relevant.

SKILLS AND KNOWLEDGE:

Educational Qualifications:

- C.A. and additionally Company secretary qualification would be preferred

Functional Skills & Behavioral Skills:

- Candidate should have prior experience of regulatory compliance/ policies formulation/review as relevant for BFSI sectors (majorly for lending and insurance companies)

- Good drafting and communication skills

- Candidate should have good interpersonal skills and project management

Relevant and total years of Experience

- 10-12 years of post-qualification experience

- Good understanding and practical experience of regulatory compliance relevant for lending and insurance companies, advanced knowledge of accounting standards, economy, financial service business, competitive landscape, and risks, understanding of process and policies