AVP & Audit Manager- FAB India

JOB PURPOSE:

Participate as well as lead audits covering the business operational risk management & finance activities and processes of FAB India. The role is expected to provide assurance to Management by identifying weaknesses; reporting and escalating significant Audit findings in a timely manner; and agreeing action plans to address the issues raised.

With support from Group Internal Audit at HO conduct audits across front office middle and back offices as well as Risk Management & Compliance in order to determine the extent of compliance with formalized policies regulatory requirements and to identify and recommend enhancements to the systems of internal control. This also includes any outsourced activities to Head Office and other entities/third parties as applicable.

Act as the daytoday contact with Management in FAB India influencing change through providing advice. Provide input to the India Unit Head and or GIA on issues that have impact on the FAB India and/or Group as a whole. Assist in conducting special investigations reviews additional tasks as and when required by the Unit Head/GIA.

Ensure that audits working papers are completed in line with Audit Methodology. All Audit findings must be supported by thorough analysis and have sound basis in fact.

Remain conversant with the business objectives risks and controls of the activities in FAB India.

Act as the daytoday contact with Management influencing change through providing advice. Provide input to GIA on issues that have impact to the FAB Group as a whole.

Conduct special investigations reviews additional tasks as and when required by GIA Management/GCAO.

KEY ACCOUNTABILITIES:

Strategy Contribution:

• With the support from GIA HO where needed help the Unit Head in reviewing all the activities of the FAB India and risk management activities in accordance with the Audit Plan agreed with the Audit Committee from time to time.
• Help the Unit Head in developing Annual Audit Plan for FAB India. Prioritize as per the Risk Assessment
• Ensure that FAB India audits are conducted in accordance with the objectives laid down in the Annual Plan and ensure that the work program is completed in an efficient and effective manner on or ahead of schedule. Inform the Unit Head & GIA Governance/GIA Heads of Audit of respective verticals of any potential delays and/or changes to the Annual Plan.

People Management:

In undertaking audits:

• Completion of tasks in an efficient manner which is consistent with operating procedures and policy.
• Promote the organizations values and ethics in all activities within the team to support the establishment of a value driven culture within the bank.

Budgeting and Financial Performance:

• Be responsible for conducting audits efficiently and comprehensively within the allocated budget.

Policies Systems Processes & Procedures:

• Execute to established GIA Policies Guidance Notes Procedures and Practice Notes in undertaking all tasks. Provide input to the development of GIA practices as per industry standards and regulatory expectations.
• Help the Unit Head to review all the activities of the Units within FAB India and the related risk management activities in all the jurisdictions in which the Portfolio operates to define and maintain the Audit Universe. Coordinate with other teams to ensure efficient and effective coverage.
• Help the Unit Head to prepare and maintain a Risk Assessment of each of the Process Streams within the India as identified in the Audit Universe. In this respect work with the businesses to promote periodic selfassessment of risks and controls.
• Conduct audits of the Processes within the FAB India and assess if:
• Divisional/Unit Line management have identified and classified the risks in their activities.
• Governance risk management and control procedures are adequate effective and efficient to reduce risks of errors omissions and loss to acceptable levels at an acceptable cost.
• Improvements/enhancements to the governance risk management and internal control structure are required.
• Data and transaction processing meets the required standards of reliability integrity and availability.
• The Divisions/Units assets are being safeguarded.                                                     
• The use of resources is efficient and effective.
• Draft audit report submitted by auditors are properly reviewed and finalized.
• Audit report is discussed and finalized with GIA management/client within 3 weeks of completion of fieldwork. Negotiate with Unit management to agree a documented Management Action Plan to resolve the issues raised

Change Management:

• Help the Unit Head in change management through continuous improvement of processes and practices considering global standards and changes in the business environment which demand proactive action plans.

Relationship Management:

• Develop and maintain effective business relationships with all relevant external/internal entities and stakeholders with the highest standards of business ethics whilst promptly attending to all critical issues inorder to ensure the services required by the organization are delivered in the most effective manner.           
• Act as the Audit Business Partner for Line Managers within FAB India and actively manage the relationship through regular meetings with Line Managers to promote this concept and identify emerging risks. Such meetings should also be used to discuss any material gaps between audit assessment or risks and controls and the businesses selfassessment.
• Ongoing consultancy/advice is provided to Unit management from a governance risk management and control perspective for improvements in their processes to ensure effective and efficient controls on the basis of market best practices.
• On an ongoing basis ensure pending audit issues are followed up with Unit management and that all corrective actions are fully and properly implemented. 
• Conduct any investigations/special reviews related to FAB India activities assigned by the Unit Head /GIA.
• Support GIA HO audit team during their annual/ regular audits on FAB India.

Reporting:

Ensure that all functional reports are prepared timely and accurately and meet Group requirements policies and quality standards.

Job Context

Specific Accountability: Help the Unit head to

• Maintain up to date knowledge and understanding of FAB India Business Operational Risk management & Financial control processes and regulatory reporting developments drive necessary changes in Audit plan/working programs.
• Safeguard against potential loss and contributing to the Units/Departments systems and procedures by reporting whether Credit/operational controls of FAB standards are effectively carried out and are efficient in the units/departments audited.
• Review the FAB India functions of the bank end to end and identifying areas of correction / improvement.
• Examine and comment on the process for the early recognition of problems (if any) and their remedial management to minimise the loss.
• Preparation / Review of Audit MIS/ dash Boards including audit committee presentation slides relating to FAB India
• Contribute towards the enhancement of relationship between GIA and stakeholders.

Qualifications :

Minimum Qualification:

• Relevant Bachelor or postgraduate qualification and/or relevant professional qualification and/ or certification for example Chartered Accountant CPA ACCA Cost & Management Accountant etc.

Additional Information :

EXPERIENCE REQUIRED:

• Minimum 3 years of relevant experience with an International/ Large Local Bank or Big 4. Internal Audit experience is strongly preferred (but not mandatory).
• Working knowledge of banking processes and associated risks in a Banking environment
• Knowledge of audit policies and procedures as well as Central Bank regulations and market practices if relevant
• Selfdirected able to manage multiple tasks and ability to work under pressure.
• Good analytical skills.
• Good verbal and written communication skills
• Ability to draft Audit Reports independently

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Remote Work :

No

Employment Type :

Fulltime