Zonal Audit Manager Ahemdabad

3) Job Context & Major Challenges: Write the specific aspects of the job that provide a challenge (internal and external) to the jobholder in the context of the Business/Unit/Function/Department/Section

• Purpose of this role is toassist Vertical Head Gold loan audits in thedevelopmentand execution of theAuditPlan(both onsite and offsite audit)forGold Loanscovering all the key areas in the end-to-end Lifecycleof gold loansincludingcustomer onboarding collateral valuation purity checksscreening credit assessment and sanction limit and facility booking credit operations disbursement post-disbursement monitoringcollateral management safe custody and physical security CCTV surveillancecollectionsandrecovery pre-payments/foreclosures settlementscollateral release / re-pledge process auction processearly warning monitoringfraud risk controlslegal and regulatory compliance and reportingetc. acrossgold loans branchesproductand channels inABCL NBFCto assess adequacy and effectiveness of risk management and controls and adherence to internal policies and procedures as well as applicable laws and regulations
• The primary function of the role will be toassist the Vertical Head Gold loan audits in thedevelopmentandexecution ofthe audit plan for proactive and qualitativegold loansaudits acrossvariousgold loan branchesproduct and channels in ABCLNBFCfactoring the nature of business level and direction of risk extent and nature of collateral scale of operations level of digitalisation and use of technology use and involvement of third party vendors/partners complexity & diversity of thegold loansportfolio the organization strategy culture and maturity
• Support the Vertical Head Gold loan audits in the development of theprocesses for adequate and effective audit coverage of various risks including Credit Regulatory Financial and Operational risks arising fromthePortfolio and Lifecycle ofgold loans across branches product andchannels and various applicable laws and regulations
• Support the Vertical Head Gold loan audits to ensure theaudit procedures and checklistsarecurrent and updated keeping pace and aligned with changes in internal policies/guidelines as well as legal/regulatory changes and evolving industry best practices
• Support the Vertical Head in the development ofauditstrategy and planfor identification and assessment ofCredit Risk FinancialRisk Operational Risk (includingFraud Risk) ComplianceRiskReputational Riskand Other risks arising from Portfolio and Lifecycleof gold loansacross thebranchesproductchannels of ABCLNBFC scale of operations and complexities of the business and maturity level of controls
• Support the Vertical Head in development ofaudit plans based on risk assessment and regulatory framework; ensuringuse of advanced integrated auditing concepts and extensive use of technology and data for achievement of the audit objectives
• Drive execution of thegold loansaudits testingcontrols covering entireLifecycleof gold loansacross branchesproductand channels in ABCL NBFCin accordance withthe Policies Procedures Legal and Regulatory requirements Internal Audit Standards and leading best practices
• Contribute through knowledge / best practices sharing or other ways to support the Vertical Head in developing aspecialisedgold loansaudit team for execution ofgold loan audit reviews includingspecialisedareas such ascollateral valuation and purity checks and other key areas across gold loans lifecycle
• Ensuretimelycompletion ofgold loansaudit plan and projects along with quality of audits and meet with all audit documentation and reporting requirements as perrisk based internalaudit policy and procedures and leading best practices
• Explore and use emerging technology solutions tobuild andimplement a continuouscontrolmonitoringand offsite auditprocess forproactive andongoing assessment ofcontrols across various risks in the gold loans lifecycle includingCreditRegulatoryFinancialFraudand Operational risks arising fromgold loans portfolio andlifecycleprocesses acrossbranchesproduct and channels in ABCL NBFCto ensure timelyand proactiveidentification and resolution of significantrisk andcontrol issues; Identify and develop automated tests for monitoring effectiveness of controls on an ongoing basis
• Activelyandproactivelyengagewithrelevant business operations functional stakeholdersforgold loans business/product

4) Key Result Areas: Write the key results expected from the job and the supporting actions for each of these key result areas (For a majority of jobs typically there could be 4- 7 key result areas)

Key Result Areas

Supporting Actions

Support Vertical Head in development of Audit Plan for Gold loan audits

• Support the Vertical Head in developmentofthe auditplanfor proactively and qualitatively conducting thegold loansaudits across thegold loan branchesproduct and channels in ABCLNBFCfactoring the nature of business level and direction of risk extent and nature of collateral scale of operations level of digitalisation and use of technology use and involvement of third party vendors/partners complexity & diversity of thegold loansportfolio the organization strategy culture and maturity
• Support the Vertical Head in developingthegold loans audit plan based on risk assessment and regulatory framework; ensure use of advanced integrated auditing concepts and extensive use of technology and data for achievement of the audit objectives in line with the organizations strategy and objectives applicable regulatory guidelines and audit policy & procedures
• Contribute through knowledge / best practices sharing to support the Vertical Head in developing aspecialised team forexecution ofgold loan audits includingspecialisedareas such as collateral valuation and purity checks and other key areas across gold loans lifecycle

Execution of Audit Plan for Gold loan audits

• Drive execution ofthe gold loans auditsfor proactive identification and remediation of Credit risk and the related risks such as regulatory financial operational risks.
• Conductgold loans audits of new as well as existing branches product channels aligned with the nature and complexity of the business to provide independent and objective assurance on the risk management and controls
• Driveexecution of thegold loans audits covering controls over various risks inherent in the entire Lifecycle of gold loans across branches product and channels in ABCL NBFC in accordance with the Policies Procedures Legal and Regulatory requirements Internal Audit Standards and leading best practices; Identify the areas requiring strengthening of controls and recommend systemic improvements for mitigating the risks
• Conduct gold loans audits across gold loan branches and central functions to assess the adequacy and effectiveness of the monitoring processes and controls covering various key activities and areas in the gold loans lifecycle including collateral valuation and management gold loans sanction disbursement and servicing recovery and auction processes safekeeping and physical security
• Conduct review of gold loans system controls in both the Loan Origination System and Loan Management Systems related to automated business and operational process controls to assess adequacy and effectiveness of the controls such as those related to customer onboarding loan booking and disbursement asset classification etc.
• Conduct reviews of gold loans processes across branches functions product and channels to assess adequacy and effectiveness of controls for compliance with applicable laws and regulations such as regulations related to KYC/AML fair practices LTV and interest rates collateral valuation safe-keeping and release exposure management income recognition asset classification auction recovery and settlement etc.
• Drive execution of thegold loans auditsthrough in-house or co-sourced audit resources with suitable coveragecommensuratewith the scale and complexity of the gold loans business product channels to effectively complement the risk-based audits
• Provide effective recommendations for improvements to the organization policies processes and practices based on leading industry practices and emerging risks
• Support the Vertical Head in developing theprocesses for adequate and effective audit coverage of various risks including Credit Regulatory Financial and Operational risks arising from gold loans portfolio and lifecycle
• Support the Vertical Head to ensure that theaudit procedures and checklistsarecurrent and updated keeping pace and aligned with changes in internal policies/guidelines as well as legal/regulatory changes and evolving industry best practices
• Ensuretimelycompletion 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
• Activelyand proactivelyengage withthe relevantstakeholdersin gold loan audits to ensureimplementation of recommendations for effective risk mitigations and improvement in the control environment

Continuous Control Monitoring and Offsite Audit

• Support the Vertical head inidentification of triggers / risk hotspots and conduct unplanned reviews /checksbased on various triggers/ hot spots directives received from regulators boardcommitteesand senior management
• Keep abreast of the emerginggold loansaudit trends and drive key audit initiatives for efficient and effective achievement of the audit objectives
• Explore and use emerging technology solutions to build and implement a continuouscontrolmonitoringand offsite auditprocess forproactive andongoing assessment ofcontrols across various risks in the gold loans lifecycle includingCreditRegulatoryFinancial Fraud and Operational risks arising fromgold loans portfolio andlifecycleprocesses acrossbranchesproduct and channels in ABCL NBFCto ensure timelyand proactiveidentification and resolution of significantrisk andcontrol issues; Identify and develop automated tests for monitoring effectiveness of controls on an ongoing basis

Communication and Stakeholder Engagement

• Effective communication and engagement with various stakeholders

People Management

• Continuous development of self andcontribution /active engagement to support the Vertical Head in development ofthegold loans auditteam through regular learning and sharing of knowledge / best practices