Employer at KDPL
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Vice President - Internal Audit - Broking/Wealth - CA/CFA (12-18 yrs)
Job Description :
All positions reporting to: Head of Internal Audit
Qualification - Candidates should be a qualified CA / CFA
First Preference - Candidates should possess relevant Internal Audit experience in the Capital Market industry (i.e. Securities Broking, Wealth Management business, Investment Banking, Custodian, Clearing Services etc.) and NBFCs of performing Risk Based audits and good understanding of regulatory requirements of SEBI/Exchanges/Depository Participants/RBI. Candidates should have Internal Audit experience of large reputed Securities Broking houses (Foreign / Indian Private Sector), Investment Banking entities, NBFCs and/or should possess good experience of performing Regulatory Inspections Audits with Regulator (SEBI/NSE/BSE) of Broking houses / Custody / Clearing activities etc.
Second Preference - In case we are unable to find suitable candidates (as per requirements mentioned above), then we can consider Candidates with Internal / External Audit experience (with large size reputed Audit firms) in Audit of Securities Broking and Investment Banking business, Internal Audit of Foreign Banks / large Indian Private Sector Banks, Reputed NBFCs.
Experience in data analytics is a plus.
Vice President - Internal Audit
12 to 18 years of post qualification audit experience Key job responsibilities will include but not limited to :
- To operate independently of business / operations functions of the entities
- Should possess good understanding of regulatory requirements, key risks, business processes and products pertaining to Capital Market business (includes Securities Broking, Treasury, Investment Advisory, Investment Management, Clearing and Custody Services, Fund Accounting etc), Non-Banking Financial Services and Control Functions such Risk Management, Compliance, Finance, Operations Risk etc.
- Formulation, review and updating of Internal Audit Policy in line with regulatory guidelines & operating framework of the Entities
- Conduct Risk Assessment for the entities based on Risk Based Audit Methodology and put up the same to Head - Internal Audit for review and approval
- Prepare Annual Audit Plan considering Risk based audit approach / Regulatory requirements / Regulatory Observations / Emerging trends / Top and emerging risks etc.
- Execute audits and monitor compliance with approved risk based audit plan and appraise Head - Internal Audit on audit plan progress on timely basis
- Monitoring of key trends and alerts generated by use of data analytic tool across various functions of the entities. Where relevant, use Data Analysis techniques in various planned audits and make effective audit analysis and perform deep dive in key focus areas.
- Design and update the audit program for various planned audits.
- Keep track of regulatory changes and Internal Policy / process changes in the entities and assess impact of the same on changes in Annual Audit Plan or Scope change of planned audits.
- Perform Risk Based Audits in accordance with Audit Methodology and compliance to Auditing Standards. Perform process walkthroughs and should be able to demonstrate very good understanding of key risks in the business processes, manual and automated controls to be tested, design Risk and Control Matrix, Develop test steps, audit the underlying evidences, assess design and operating effectiveness of the processes and controls, identify material deficiencies / process/control gaps.
- Should demonstrate very good audit documentation skills that would clearly articulate the work done to address audit risk and audit objective, audit documentation in software tool.
- Ensure that Audit reports are well written and provides insight into High and Medium risk audit findings and understand it's impact on the overall control environment. Ensure High and Medium Risk Audit Issues are appropriately risk assessed and are discussed on timely basis with appropriate Business / Function authority and Head - Internal Audit. Should be able to write qualitative audit reports that would provide clear visibility to Senior Management on key audit issues, risk themes and audit outcome.
- Ensure adequate support / enablers to the auditors is available in terms of Policy, Manual, Internal Audit Charter, regulations, audit checklist, sampling criteria, reports from other audits - Concurrent Audit / Information System (IS) audit, etc.
- Update the auditors (internal and external) on changes in Group & entity level policy / processes and ensure audit checklist is appropriately updated.
- Review / Analysis of audit findings to identify relevant trends across process / products / regions and suggest thematic / special audits to identify root cause and suggest remedial measures
- To provide requisite audit training, coaching and guidance to junior audit team members to develop and sharpen their audit skills and help in strengthening audit function to be more effective.
- To appraise Management and Head Internal Audit about the major irregularities / deficiencies observed
- To conduct special / thematic audit studies as per the directions of Audit Committee Board, Senior Management & Head - Internal Audit.
- To provide regular update to Head - Internal Audit about the audit execution, reporting & closure.
- To engage closely with external audit firms for the purpose of conducting certain Regulatory audits, Internal audits, concurrent audits, IS audit, etc., and review their work and quality of audit, discussion on audit issues along with relevant Business Stakeholders and obtaining Management Responses/Management Action Plan. Also, engage with External Audit firms for finalising their audit scope, their appointment and on-boarding related requirements, regular due diligence, coordination on system and physical accesses for external auditors, invoice processing etc.
- Perform Continuous Monitoring activities and focus on top and emerging risks in the organisation, review regulatory updates, assess impact of industry events on the organisation's risk framework / processes etc. and assess audit requirement.
- Timely validate Management Action Plan that would address Issue, Risk and Root Cause of the Audit / Regulatory Observations
- Monitoring of trends in audit findings across the group entities.
- Identification of strategic initiatives based on trends and preparation of plan to execute the same
- Review of SOPs, frameworks, policies etc.
- Identification of key indicators for monitoring and continuous audit across various businesses, preparing dashboards and submission of the same to management / Head of Internal Audit
- Prepare Packs to be presented in Audit Committee / any other Governance Forums / Senior Management discussions etc.