VP & Head of Audit - FAB India

JOB PURPOSE:

A subject matter expert responsible for planning and executing audits covering the activities and processes for FAB India. Expertise in Information Technology InfoSec BCM and Data domains. Through a thorough understanding of process and activities and the regulatory environment both in India and other relevant jurisdictions where FAB operates 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.

Responsible to manage and conduct the validations for periodic submissions to RBI pertaining to Cybersecurity IT Audit practices and Swift. Responsible to coordinate and manage Regulatory Audits for FAB India.

Lead Risk assessments Develop Audit plans Catalogue and risk rate all auditable entities for FAB India and ensure that all auditable entities have been reviewed as per Audit assignment plans considering regulatory requirements and risk profile.

Monitor and enhance Audit procedures to ensure that they adequately address the risk associated for FAB India.

Remain conversant with the business objectives risks and controls of the activities in FAB India. Monitor notices and directions from regulators and collaborate with Head Office Management to ensure regulatory expectation are met.

Utilize knowledge and expertise to conduct special reviews as per management request.

Act as the daytoday contact with Management in FAB India influencing change through providing advice. As part of the GIA Extended Management Team (EMT) 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 Senior Management.

KEY ACCOUNTABILITIES:

Strategic Contribution:

• Lead and Manage audit activities in for FAB India Group and across the international network.
• Develop Annual Audit Plan for FAB India. Prioritize as per the Risk Assessment and determine skills of Auditors required to support the Audit Plan. Ensure that assignment of auditors is based on their expertise to handle special assignments/investigations.
• Ensure that the 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 Head of Audit CCB IB & Credit for potential delays and/or changes to the Annual Plan.

Leadership:

In undertaking audits:

• Manage the effective achievement of functional objectives through effective leadership and by setting of individual objectives managing performance developing and motivating team to maximize performance.
• Provide guidance and on the job training for junior colleagues and conduct knowledge sharing to facilitate achievement of team objectives and completion of tasks in an efficient manner which is consistent with operating procedures and policy.
• Act as a role model and drive adherence to organizational values and ethics by employees of the assigned team to ensure the establishment of a value driven culture within the Group/GIA.
• Supervision training and guidance is provided to relevant Audit staff.
• All interactions with the team and Unit staff are conducted in a professional and objective manner.
• Responsibilities are assigned to audit team members for covering fieldwork as per audit requirement. Team members working papers are reviewed and valid review points raised to GIA management for discussion if needed.

Budgeting and Financial Performance

• Monitor the financial performance of given areas of activities versus budgets and ensure all activities are carried out in line with the approved guidelines while promptly reporting on any variances to management.

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.
• Review all the activities of the Units in 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.
• Prepare and maintain a Risk Assessment of each of the Process Streams in FAB India as identified in the Audit Universe. In this respect work with the businesses to promote periodic selfassessment of risks and controls.
• Establish/update and maintain FAB India Audit programs in the central audit management tool.
• Conduct audits of the Processes within 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.
• 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.

Regulatory Exercises and Validations

• Lead and manage the periodic validations and submissions to regulator pertaining to Cybersecurity Technology and SWIFT.
• Liaise with various stakeholders from Group and FAB India to obtain responses and evidence for the regulatory validations and exercises.
• Document and issue Advisory/Assurance reports to Management indicating the outcome of the exercises and any observations to improve the validation processes.
• Monitor regulatory Directives and notices and share the same with GIA Management. Participate in Local Regulatory Forums to obtain necessary clarifications and understand expectations of the regulator.
• Monitor & review the work done by the Concurrent Auditors to effectively demonstrate Internal Audit oversight on concurrent audit.
• Provide feedback to GIA on the concurrent audit performance as part of their annual evaluation & selection process.

Continuous Improvement

• Lead the identification of change 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 teams 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 assigned by Head of Audit/GCAO.   
• 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:

• Directly responsible for the audits of FAB India. Responsibility to effectively and timely deliver validation exercises for Cybersecurity and Swift Regulatory returns in line with regulatory requirements.
• Knowledgeable with applicable FAB India Regulatory requirements and any new regulations market practices etc.
• Develop risk assessment and audit plan FAB India.  Suggest improvements to policies and processes.
• Accountable for delivery of the agreed audit plan.
• Maintain up to date knowledge and understanding of key regulatory developments and banking practices including but not limited to Technology/InfoSec/BCM/Data across FAB India and Group; drive necessary changes in Audit plan & working programs to take into consideration regulatory changes.
• Act as a trusted advisor in the areas of Technology InfoSec BCM General IT Controls Privacy Technology Outsourcing Cyber Security and Technology Regulatory Compliance.
• Contributing towards the enhancement of relationship between GIA and stakeholders.

Qualifications :

Minimum Qualification

• Bachelors degree.
• Relevant postgraduate qualification and/or relevant professional qualification and/ or certification desirable.

Additional Information :

Minimum Experience

• At least 10 years relevant experience with an International Bank or Big 4. Internal Audit experience is a must. At least 5 years similar positions of progressively increasing managerial responsibilities in Audit Technology /Security and/or Risk Management function.
• Good knowledge of Banking Processes and businesses in India local regulations & requirements.
• Strong leadership capability and teamoriented with highly developed problemsolving skills.
• Selfdirected able to manage multiple tasks and ability to work under pressure.
• Excellent analytical skills.
• Excellent verbal and written communication skills.

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Remote Work :

No

Employment Type :

Fulltime