Regional audit manager - ahmedabad

Job Context & Major Challenges:

Purpose of this role is to assist Vertical Head Gold loan audits in the development and execution of the Audit Plan (both onsite and offsite audit) for Gold Loans covering all the key areas in the end-to-end Lifecycle of gold loans including customer onboarding, collateral valuation, purity checks, screening, credit assessment and sanction, limit and facility booking, credit operations, disbursement, post-disbursement monitoring, collateral management, safe custody and physical security, CCTV surveillance, collections and recovery, pre-payments/foreclosures, settlements, collateral release / re-pledge process, auction process, early warning monitoring, fraud risk controls, legal and regulatory compliance and reporting, etc., across gold loans branches, product and channels in ABCL NBFC to 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 to assist the Vertical Head Gold loan audits in the development and execution of the audit plan for proactive and qualitative gold loans audits across various gold loan branches, product and channels in ABCL NBFC 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.

Key Result Areas:

Support Vertical Head in development of Audit Plan for Gold loan audits. Support the Vertical Head in development of the audit plan for proactively and qualitatively conducting the gold loans audits across the gold loan branches, product and channels in ABCL NBFC 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.

Support the Vertical Head in developing the gold 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 organization’s strategy and objectives, applicable regulatory guidelines and audit policy & procedures.

Contribute through knowledge / best practices sharing to support the Vertical Head in developing a specialised team for execution of gold loan audits including specialised areas such as collateral valuation and purity checks, and other key areas across gold loans lifecycle.

Drive execution of the gold loans audits for proactive identification and remediation of Credit risk and the related risks such as regulatory, financial, operational risks.

Conduct gold 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.

Drive execution of the gold 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 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.

Provide effective recommendations for improvements to the organization policies, processes and practices based on leading industry practices and emerging risks.

Ensure timely completion 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.

Continuous Control Monitoring and Offsite Audit:

Support the Vertical head in identification of triggers / risk hotspots and conduct unplanned reviews / checks based on various triggers/ hot spots, directives received from regulators, board committees and senior management.

Keep abreast of the emerging gold loans audit 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 continuous control monitoring and offsite 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 ensure, timely and proactive identification and resolution of significant risk and control issues.

Communication and Stakeholder Engagement:

Effective communication and engagement with various stakeholders.

Continuous development of self and contribution / active engagement to support the Vertical Head in development of the gold loans audit team through regular learning and sharing of knowledge / best practices.