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4) Core result areas: Write the key results expected from the job and the assisting actions for each of these core result areas (For a majority of jobs typically there could be 4- 7 core result areas)
Core result areas
Assisting Actions
Development of Offsite Audit Strategy and Plan
Establish and oversee the audit strategy and plan for proactively and qualitatively conducting the Offsite gold loans audits (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) covering the key areas across the end to end gold loans lifecycle factoring 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 the gold loans portfolio, the organization strategy, culture and maturity
Establish offsite gold loans audit plans (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) making sure use of advanced integrated auditing concepts and extensive use of technology and data for achievement of the audit objectives Set up and establish specialised gold loans offsite audit group (including central offsite audit group and surprise auditors) for execution of offsite gold loan audit reviews including specialised areas such as collateral valuation and purity checks, and other key areas across gold loans lifecycle
Execution of Audit Strategy and Plan
Effective management and execution of the Offsite gold loans audits (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) for proactive identification and remediation of Credit risk and the related risks such as regulatory, financial, operational risks.
Drive and oversee Offsite gold loans audits (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) testing controls covering entire Lifecycle of gold loans across branches, product and channels in ABCL NBFC in accordance with the Policies, Procedures, Legal and Regulatory qualifications, Internal Audit Standards, and leading best practices
Drive and oversee Offsite gold loans audits (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) covering controls over various risks inherent in the entire Lifecycle of gold loans in accordance with the Policies, Procedures, Legal and Regulatory qualifications, Internal Audit Standards, and leading best practices; Identify the areas requiring strengthening of controls and recommend systemic improvements for mitigating the risks
Conduct Offsite gold loans audits (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) 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 client onboarding, loan booking and disbursement, asset classification etc.
Conduct offsite reviews of gold loans 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. Oversee and execute offsite gold loans audit through in-house or co-sourced professional audit resources with suitable coveragecommensuratewith the scale and complexity of the gold loans business, product, channels to effectively complement the risk-based audits
Deliver effective recommendations for improvements to the organization policies, processes and practices based on leading industry practices and emerging risks
Establish processes for adequate and effective offsite gold loans audit coverage of various risks including Credit, Regulatory, Financial, and Operational risks arising from gold loans portfolio and lifecycle
Keep offsite gold loans audits (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) procedures and checklists current 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 gold loans offsite audit plan and projects along with quality of audits, and meet with all audit documentation and reporting qualifications as per risk based internal 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
Continuous Control Monitoring and Offsite Audit
Establish strategies for identification of triggers / risk hotspots and conduct unplanned surprise reviews / checks based on various triggers/ hot spots, directives received from regulators, boardcommitteesand senior management
Keep abreast of the emerging gold loans offsite audit trends and drive key offsite audit initiatives for efficient and effective achievement of the audit objectives
Explore and use emerging technology solutions to build and implement a continuous control monitoring and offsite gold loans audit process for proactive and ongoing assessment of controls across various risks in the gold loans lifecycle including Credit, Regulatory, Financial, Fraud and Operational risks, arising from gold loans portfolio and lifecycle processes across branches, product and channels in ABCL NBFC to make sure, timely and proactive identification and resolution of significant risk and control issues; Identify and establish automated tests for monitoring effectiveness of controls on an ongoing basis
Communication and Stakeholder Engagement
Effective communication and reporting to various stakeholders including regulators, board committee and senior management
People Management
Establish specialised gold loans offsite audit group for execution of complex and specialised audit reviews covering gold loans portfolio and lifecycle processes across branches, product, channels
Establish,nurtureand grow talent through effective employee engagement and management
Continuous development of self and the group through regular learning and sharing of knowledge / best practices
This opening is for the Team Lead - Surprise Gold Loan Audit position in Thane.
Eligibility typically includes the qualifications and experience outlined in the job description above, with around 7-10 Years years of relevant experience expected for this role.
The key responsibilities for this role are detailed in the Key Responsibilities section above, covering the core duties expected of a Team Lead - Surprise Gold Loan Audit at Aditya Birla Group.
This role requires around 7-10 Years years of relevant experience, as specified in the job listing. Please refer to the Qualifications & Experience section above for full details.
Skills relevant to this position are outlined in the Qualifications & Experience section above. In general, strong communication, domain knowledge, and the ability to meet role-specific targets are valued across similar BFSI positions.
You can apply directly using the Apply Now button on this page, which will take you to Aditya Birla Group's application process for this role.