Control Testing

Domain Experience and Key expectations for the role

Must Have

• Ability to understand process, risks, controls, applicable regulations (concepts of Laws / Rules / Regulations), and end to end control testing processes etc by referring the documents in place.
• Completing detailed process walkthrough with respective stakeholders to understand the process flows, prevalent risks, and controls.
• MUST: Prior experience with control reviews (Test of Design / Design effectiveness and Test of Operating Effectiveness OE) and be able to articulate the approach being taken under different scenarios.
• Define & Design Test Strategy” and Test Steps including test attributes for Operating effectiveness (OE) testing. 
• Define & Design RFI to gather evidence for OE
• Execute Control Testing activity in line with applicable governance, framework, testing questionnaire / Scripts, artefacts / templates. 
• Good understanding of concepts related to Sampling and validation of the population.
• Validate testing data and sampling including coordination with data / evidence owners for the requirements.
• Effective communication with team manager and business stakeholder for testing and data requirements. 
• Identify gaps and non-compliances in line with the testing guidelines.
• Articulation of testing outcome along with key process risks, gaps, and remediation actions.
• Identifying and documenting Process improvements and conveying / explaining the same to the respective stakeholders involved.
• Presenting test outcome and findings to business stakeholders
• Assist in devising the corrective action plan, its monitoring and verification to closure.
• Suggest improvements & automation opportunities in control testing process to make process more efficient and effective. 
• Ability to complete the testing within timelines and as per laid down quality standards.
• Prepare reports including status of the testing for various stakeholders

Process 

• Good understanding of Risk Mgt. Framework & Methodologies with proficiency in conducting Regulatory & Operational Compliance Control Testing, for processes and operations.
• Strong understanding of BFSI processes and key risk controls to identify process gaps. (regulatory reporting, ITGC controls, Third party related,IPE (Information produced by the entity, i.e. reports and related automation used in executing controls, Managerial Review controls).
• Ability to interpret regulations and control test scripts.
• Good analytical skills.
• Proactive engagement and interaction with stakeholders to understand the process and risk dynamics within operations.
• Good documentation, articulation and report writing skills.
• Hands on understanding of risk concepts & documentation approach to ensure standardization.
• Ensuring timely delivery of the assigned projects as per expected quality and efficiency standards
• Monitoring the overall functioning of processes, identifying improvement areas and suggest adequate measures to maximize client satisfaction level. 
• Any experience in Operational risk/GRC Solution development as Domain Expert or as Business User.
• Self-driven mindset with good Communication & presentation skills.
• Relevant client-facing and Project Management experience.

Skills & Experience

• Command over English Communication (Written / Verbal).
• Experience with Controls Review / Testing, Audit, RCSA, relevant risk related experience (Worked in any if the 3 LODs).
• Relevant experience in Control Testing\Compliance Audit in BFSI environment.
• Preferably prior experience in conducting control testing for US based Financial Institution.
• Good communication & inter-personal skills.
• Strong people management skills.
• Proficient in MS Excel, MS Power point with very sound working knowledge. Preferable knowledge on Risk tools like ServiceNow etc.
• Relevant experience in preparation of Report Writing and various reports as per requirements.
• Proactive in identifying potential concerns and follow-up to resolve such issues.
• Experience in Control Testing tools and techniques.

Educational Qualifications 

• Graduation /Post Graduation (BE, BCom, MBA, CA, CIMA, Degree in Finance & Accounting, Semi qualified CA / CIMA)
• Any Risk related Certification will be added advantage