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06/12 Rajshree Singh
Manager – Search & Engagement at Hipotz

Views:257 Applications:61 Rec. Actions:Recruiter Actions:29

Internal Audit/Credit Audit Role - Wholesale Banking (7-20 yrs)

Mumbai Job Code: 1189875

Essential Duties & Responsibilities by Dimensions:

A. Shareholder & Financial:

- Ensure effectiveness of adopted policies/ procedures adherence to regulatory and statutory requirements, and safeguarding of the Branch's assets.

- Add value to the functions/ activities performed by the Audit Tasks Section by identifying instances/ risks that entail probable financial loss or regulatory non-compliance that could result in monetary penalties/ reputation damage

- Identify potential cost saving opportunities by highlighting process inefficiencies

- Act within the limits of the powers delegated to the incumbent

B. Customer (Internal & External):

- Ensure adequate coverage of the Branch's activities in the annual audit plan to provide assurance to the relevant executive management on the adequacy and effectiveness of the internal controls in place within the respective department/ function and add value to improve the functioning of the various activities performed by the referenced department/ function, as and where applicable.

- Provide timely feedback/ information to the Principal Specialist - International Support & Oversight for Global Audit Activity on queries, reports and other correspondence.

- Liaise with the relevant officials from Country Regulators as and when required and provide clarifications/ responses to queries/ reports/ other correspondence received.

- Liaise with the external auditors of the bank to ensure that they complement the efforts of the Internal Audit and avoid duplication of effort. This will involve meetings with the external auditors to discuss the planned audit work, the exchange of working papers, audit reports and management letters, and to ensure common understanding of audit techniques, methods and terminology.

- Manage the relationships with the Branch's executive management and obtain their inputs/ concerns on the various functions/ activities pertaining to the Branch including significant developments therein, which could have an impact on the annual audit plan for the Branch.

C. Internal (Processes, Products, Regulatory):

- Prepare an annual audit for submission to the Principal Specialist - International Support & Oversight for Global Audit Activity for his review/comments and approval, based on the risk assessment conducted for the Branch and in line with its overall strategy.

- Ensure timely implementation and execution of the approved annual audit plan as well as the completion of the same within the assigned period. Ensure that periodical audit implementation status reports, supported by time management reports explaining any significant variances in performance against the approved annual audit plan and budget, are submitted to the Principal Specialist - International Support & Oversight for Global Audit Activity for his information and review.

- Ensure the introduction and continued adherence to internal auditing best practices including but not limited to the Standards for the Professional Practice of Internal Auditing (SPPIA) and other leading audit. Ensure that the audit planning, fieldwork and reporting stages are conducted in consonance with the procedures/ guidelines contained in the internal audit manual. Also, make recommendations to the Principal Specialist - International Support & Oversight for Global Audit Activity on the amendments to the approved internal audit manual, in line with best practices.

- Escalate promptly (on interim basis if required) any major issues/ significant concerns emerging from the areas/ functions audited, to the Principal Specialist - International Support & Oversight for Global Audit Activity for his review/ action to enable timely rectification/ resolution of the highlighted issues.

- Utilize appropriate audit software procured by Group Internal Audit

- Monitoring, on overall basis, the post-audit follow-up of audit reports and ensure compliance with recommendations.

- Submit his own performance appraisal to the Principal Specialist -International Support & Oversight for Global Audit Activity on timely basis in accordance with the laid down policy in this regard.

- Maintain activities in accordance with Service Level Agreements (SLAs) with internal departments/ units to achieve improvements in turn-around time.

- Build and maintain strong and effective relationship with all other related departments and units to achieve the Group's goals/objectives.

- Provide timely and accurate information to the external auditors and the Compliance function as and when required

D. Learning & Knowledge:

- Identify related areas for professional development of self-based on discussions with the Principal Specialist - International Support & Oversight for Global Audit Activity.

- Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training provided by the Bank and attain/maintain the required levels of competence.

- Attend mandatory (internal and external) seminars as instructed by the Bank.

E. Legal, Regulatory and Risk Framework Responsibilities:

- Comply with all applicable legal, regulatory and internal compliance requirements including, but not limited to, the Country Compliance manual; Group Compliance Policies and Procedures (Anti Money Laundering & Counter Terrorist Financing, Sanctions Policy, Data Protection Policy, Fraud Control Policy, Whistle Blowing Policy, Conflict of Interest and Insider Dealing Policy).

- in accordance with the Branch Governance manual, contribute to and comply with the Branch's Risk Framework, consider Risk Appetite and promote a positive Risk Culture:

- Understand and effectively perform your role under the Three Lines of Defence principle to identify, measure, monitor, manage and report risks.

- Ensure systematic good outcomes for clients in accordance with Conduct Risk policy.

- Support the framework of RCSA, KRI, Incident reporting and remediation, as appropriate, in accordance with the Operational Risk Management requirements.

- Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training provided by the Bank and attain and maintain the required levels of competence.

- Attend mandatory (internal and external) seminars as instructed by the Bank.

F. Other:

- Ensuring high standards of data protection and confidentiality to safeguard commercially sensitive information. Maintaining utmost confidentiality with regards to customer and internal bank information obtained during the course of business and provide such information on a need to know basis only to Senior Management of Bank, Audit and Compliance functions, and relevant Regulators.

- Maintains high professional standards to uphold Bank's reputation and to strengthen its market leadership position.

- All other ad hoc duties and/or activities related to Bank that management may request of the employee from time to time

Education/Experience Requirements:

- University graduate (Bachelor's degree) preferably with a Major in Finance, Banking, Economics, Mathematics, or Accounting (related field of study), Masters preferred

- Minimum of 7 years' experience in a major bank or leading audit firm.

- Professional Audit qualifications such as CIA / CMA / CPA / CA/ ACCA / CISA

Required Special Skills:

- Excellent oral and written communication skills in English and Local Countries language (Arabic preferred).

- Adequate legal and documentation background.

- Adequate knowledge of various banking products and services and the related operations.

- Knowledge of Basel Committee best practices pertaining to banking operations.

- Proficiency in risk concepts, banking operations/ systems and pertinent regulatory requirements Well-developed analytical and interpersonal skills.

- Self-motivated, eye for detail and the ability to persuade others.

- Flexible team player and able to work and deliver under pressure.

- Knowledge of applicable International Accounting and Auditing Standards and related pronouncements.

Operating Environment/ Location:

- Located in Country with visits to related departments/ areas.

Framework and Boundaries:

- Group's overall strategic plan.

- Budgetary/ scorecard targets.

- Internal Audit Charter/ manual.

- Directives of the Group Audit & Compliance Committee and (GACC) and Group Chief Audit Executive (GCAE).

- Institute of Internal Auditors' (IIA) Code of Ethics and other professional standards including but not limited to the SPPIA guidelines.

- Applicable regulations and best practices.

- Instructions of the Chief Internal Auditor - International. - International.

- Delegation and re-delegation of authorities as per the delegation of authority structure.

Communications and Working Relationships:

- Frequent interaction with the Principal Specialist - International Support & Oversight for Global Audit

- Relevant audit management.

- Regulatory authorities and external auditors.

Supervisory Responsibilities:

- Dotted reporting: N/A

- Solid line reporting: N/A

Women-friendly workplace:

Maternity and Paternity Benefits

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