Internal Auditor

Description:

Position: Internal Auditor

No. of Vacancy: 02

Location: Pune

Experience: 2 or 3 Years in a Bank/NBFC

Education Qualification B.Com, MBA, CPA, CFA, CA, etc.

Job Description: The Internal Auditor will be an integral part of the Internal Audit team, reporting to the Audit Manager or General Auditor. This role is responsible for executing financial, operational, and compliance audits across various business units and functions within the bank. The primary objective is to provide independent and objective assurance and consulting services designed to add value and improve the bank's operations, focusing on the effectiveness of risk management, control, and governance processes.

Key Deliverables / Responsibilities :

- Audit Cycle Management: Perform and control the full audit cycle, including risk management and control over operations' effectiveness, financial reliability, and compliance with all applicable directives and regulations (e.g., Risk Based on Audit, KYC, and lending regulations.

- Audit Scope: Conduct audits covering diverse areas of the bank, which may include Retail Banking (branches, cash, teller operations), Commercial/Investment Banking, Finance, Compliance, IT & Digital Systems, and more.

- Risk Assessment: Assist in determining the internal audit scope and developing annual audit plans based on the banks risk profile.

- Fieldwork: Execute audit programs by performing walkthroughs of processes, testing key controls (design and operating effectiveness), and reviewing financial statements, transactions, and documentation (e.g., loan files, KYC records).

- Data Analysis: Obtain, analyse, and evaluate accounting documentation, reports, and data to support audit findings and detect potential discrepancies or fraudulent activities.

- Reporting and Follow-Up.

- Documentation: Prepare detailed and accurate RBIA and Internal audit reports along with audit work papers that sufficiently support the audit scope, objectives, work performed, findings, and conclusions reached.

- Reporting: Prepare and present formal draft and final audit reports that clearly communicate audit findings, risks identified (including emerging risks), and practical, value-added recommendations for corrective action and process improvement.

- Communication: Communicate audit findings and recommendations to appropriate management levels, up to and including the Audit Committee and Executive Management.

- Monitoring: Conduct timely follow-up audits to monitor managements interventions and determine if corrective actions have been effectively implemented.

- Risk Management and Compliance

- Internal Controls: Evaluate the adequacy, effectiveness, and efficiency of internal control systems to ensure they provide reasonable assurance for general operating efficiency and safeguarding of assets.

- Regulatory Adherence: Ensure that bank policies, procedures, and practices comply with all relevant laws, regulations, and internal bank policies.

- Fraud Detection: Assist in fraud investigations and recommend and evaluate the effectiveness of anti-fraud policies and procedures.

- Continuous Improvement: Proactively identify loopholes, recommend risk aversion measures, and suggest improvements to enhance operational efficiency and mitigate financial and regulatory risks.

- Professional Development and Stakeholder Management

- Knowledge Maintenance: Maintain professional and technical knowledge regarding auditing standards such as IBA standards, rules, regulations, best practices, and new banking products/services.

- Coordination: Coordinate activities with and assist external public accountants and regulatory examiners as required.

Required Skills / Competencies - Thorough understanding of banking operations (e.g., Loans, deposits, treasury, Cash, Voucher Checking). Auditing Expertise, Proven knowledge of auditing standards, procedures, and best practices, as well as internal control, risk, and governance principles. Excellent analytical skills and critical thinking ability to analyse complex issues, manipulate large amounts of data, and identify discrepancies and patterns. Objectivity & Integrity, High level of objectivity, ethical judgment, and integrity to maintain independence in all audit activities.