- THIS is a diversified Asset Management Company (AMC) with wide spectrum of Mutual Fund and Asset Management businesses catering to diverse customer segments through variety of products including Mutual Fund products, Asset Management products/services including Portfolio Management Services, Alternative Investment Funds, Real Estate Investment Advisory.

- THIS also has various subsidiaries in India (Gujarat GIFC) as well as overseas (such as Dubai, Singapore).

- Purpose of this role is to develop and manage execution of the Audit Strategy and Plan for Mutual Fund business covering all areas across products, sales and distribution, investments, fund accounting and custodial services, risk management, compliance and other corporate / control functions.

- Objective is to provide timely and quality, independent and objective assurance on adequacy and effectiveness of risk management and controls across key risks including Legal and regulatory compliance risk, Financial crime risk, Operational risk, Third party /Outsourcing risk, Market and Liquidity risk, Financial risk, Reputational risk etc. and adherence to internal policies and procedures, applicable laws and regulations.

- The primary function of the role will be to develop and manage execution of the audit strategy and plan commensurate with the nature and scale of the business and operations, level and direction of risk, level of digitalisation and use of technology, use and involvement of third party vendors/partners, applicable laws and regulations, the organization strategy, culture and maturity.

- Develop audit strategies for identification and assessment of various key risks and current maturity level of controls in various auditable entities.

- Develop audit plans based on risk and control assessment, and regulatory framework; ensure use of advanced integrated auditing concepts and extensive use of technology and data analysis for achievement of the audit objectives

- Plan and conduct risk-based audits testing ~3000+ controls across Mutual Fund functions in THIS in accordance with the Policies, Procedures, Legal and Regulatory requirements, Internal Audit Standards, and leading best practices

- Develop processes for adequate and effective audit coverage of various risks including Legal and regulatory compliance risk, Financial crime risk, Operational risk, Third party /Outsourcing risk, Market and Liquidity risk, Financial risk, Reputational risk etc. and adherence to various applicable laws and regulations across applicable regulators.

- Ensure alignment with industry best practices and regulatory requirements. Keep audit procedures and checklists current and updated aligned with changes in internal policies/guidelines as well as legal/regulatory changes and industry best practices.

- Develop specialised audit team for timely and quality execution of complex and specialised audit reviews covering all the key areas across business/operations/corporate/risk management/control functions.

- Ensure timely completion of audit plan and projects along with quality of audits, and meet with all audit documentation and reporting requirements as per audit policy and procedures and leading best practices

- Implement a continuous monitoring process for ongoing assessment of various risks arising from and managed by the Mutual Fund functions in THIS to ensure, timely identification and resolution of significant risk and control issues; Identify and develop ~1000+ automated tests for monitoring effectiveness of controls on an ongoing basis.

- Active and Proactive Engagement with the Functional leaders for each of the Mutual Fund functions (including risk management functions and control functions) on developing and enhancing the maturity level of the controls relating to various risks benchmarking with the leading best practices

Key Responsibilities:

Development of Audit Strategy and Plan:

- Develop audit strategies for identification and assessment of various key risks in Mutual Fund functions and current maturity level of controls in these functions.

- Develop audit plans based on risk assessment and regulatory framework; ensure use of advanced integrated auditing concepts and extensive use of technology and data analysis for achievement of the audit objectives

Execution of Audit Strategy and Plan:

- Effective management and execution of the audit plan in accordance with the Policies, Procedures, Legal and Regulatory requirements, Internal Audit Standards, and leading best practices for proactive identification and remediation of various risks

- Conduct Mutual Fund functions audits covering all key areas across first and second lines of defence including risk management, compliance and control functions testing ~3000+ controls in accordance with the Policies, Procedures, Legal and Regulatory requirements, Internal Audit Standards, and leading best practices

- Conduct risk-based, thematic and specialised audit reviews to assess the adequacy and effectiveness of the risk management and controls covering various key activities and areas such as sales and distribution, investments, fund accounting and unit administration, trusteeship and custodial services, risk management including management and mitigation of legal and compliance risk, financial crime/fraud risk, operational risk, market risk, third party /outsourcing risk, vendor payments, general ledger and accounting controls, regulatory reporting, employee onboarding and payroll management, operations and customer service, complaints management etc.

- Conduct review of application controls (automated business process controls) in the applications used by Mutual Fund functions including management information systems to assess adequacy and effectiveness of the controls

- Manage and execute audits through in-house or co-sourced professional services with suitable coverage commensurate with the scale and complexity of the business, operations, risk management and control functions

- Provide effective recommendations for improvements to the organization policies, processes and practices based on leading industry practices and emerging risks

- Develop processes for adequate and effective audit coverage

- Ensure alignment with industry best practices and regulatory requirements. Keep audit procedures and checklists current, updated and aligned with changes in internal policies/guidelines as well as legal/regulatory changes and evolving industry best practices

- Ensure timely completion of audit plan and projects along with quality of audits, and meet with all audit documentation and reporting requirements as per audit policy and procedures and leading best practices

- Active engagement with stakeholders for implementation of recommendations for effective risk mitigations and improvement in the control environment

- Proactive engagement with regulators on internal audit related matters to meet the regulatory expectations from internal audit

Continuous Monitoring:

- Develop strategies for identification of triggers / risk hotspots and conduct unplanned reviews / investigations based on various triggers/ hot spots, directives received from regulators, board committees and senior management

- Keep abreast of the emerging audit trends and drive key audit initiatives for efficient and effective achievement of the audit objectives

- Implement an effective continuous monitoring framework for ongoing monitoring of risk relating to various business segments, products, channels, processes and units; Identify and develop ~1000+ automated test for ongoing monitoring of key risks across the Mutual Fund functions

Communication and Stakeholder Engagement:

- Effective communication and reporting to various stakeholders including regulators, board committee and senior management

- Proactive engagement with regulators on internal audit related matters to meet the regulatory expectations from internal audit

People Management:

- Develop specialised audit team for timely and quality execution of complex and specialised audit reviews covering all the key areas including risk management functions and control functions

- Develop, nurture and grow talent through effective employee engagement and management

- Continuous development of self and the team through regular learning and sharing of knowledge / best practices.