Lead

Job Purpose:

Purpose of this role is to develop and manage execution of the Strategy and Plan for Offsite Audits and Continuous Control Monitoring (CCM) covering all areas including credit, corporate functions, risk management and control functions, information systems, technology and security across lines of business, customer segments, products and channels to assess adequacy and effectiveness of risk management and controls, and adherence to internal policies and procedures as well as applicable laws and regulations, and provide continuous independent and objective assurance through use of advanced integrated auditing concepts and extensive use of technology and data analysis for achievement of the audit objectives

KRAs

Key Result Areas

Supporting Actions

Development of Audit Strategy and Plan

• Develop strategies for Offsite Audits and CCM for identification and assessment of various risks including Credit, Market, Liquidity, Regulatory, Information technology and security, Financial, Fraud and Operational risks arising from Credit, Information Systems and Technology, Corporate, Risk Management and Control functions across various lines of businesses/customer segments/products/channels, scale of operations and complexities of the business and current maturity level of controls

• Develop Offsite Audit and CCM plans based on risk assessment and regulatory framework covering all areas including credit, corporate functions, risk management and control functions, information systems, technology and security across lines of business, customer segments, products and channels; Ensure use of advanced integrated auditing concepts and extensive use of technology and data analysis for achievement of the audit objectives

• Develop processes for adequate and effective Offsite audit and CCM coverage of various risks including Credit, Market, Liquidity, Regulatory, Information technology and security, Financial, Fraud and Operational risks arising from Credit, Information Systems and Technology, Corporate, Risk Management and Control functions across various lines of businesses/customer segments/products/channels and in accordance with various applicable laws and regulations, regulatory circulars / guidelines across various regulators.

• Develop specialised audit team for execution of complex and specialised Offsite Audit and CCM reviews and checks covering all areas including credit, corporate functions, risk management and control functions, information systems, technology and security across lines of business, customer segments, products and channels

• Develop and drive strategies for efficiency in audit through use of technology [including Artificial Intelligence/ Machine Learning (AI/ML)] and establish continuous control monitoring framework

Execution of Audit Strategy and Plan

• Conduct Offsite Audit and CCM checks covering all areas including credit, corporate functions, risk management and control functions, information systems, technology and security across lines of business, customer segments, products and channels in accordance with the Policies, Procedures, Legal and Regulatory requirements, Internal Audit Standards, and leading best practices

• Effective management and execution of the Offsite Audit and CCM plan for proactive identification and remediation of significant control issues

• Timely completion of Offsite Audit and CCM plan along with quality of audit; and Meet with all audit documentation and reporting requirements as per audit policy and procedures and leading best practices

• Design the infrastructure and develop the framework for audit data mart

• Develop and catalogue scripts/algorithms used for conducting data-based tests as part of Offsite audit and CCM across the group and respective units

• Develop strategies for timely generation of offsite audit and CCM reports for conducting data-based tests of controls

• Develop project plan and monitor the implementation of the key initiatives for use of technology (AI/ML) and continuous monitoring framework in audit

Continuous Monitoring

• Implement a continuous monitoring process for ongoing assessment of all key risks and control areas across Credit, Information Systems and Technology, Corporate, Risk Management and Control functions across various lines of businesses/customer segments/products/channels to identify opportunities for Offsite Audit and CCM; Identify and develop automated tests for monitoring effectiveness of controls on an ongoing basis to ensure timely identification and resolution of significant control issues.

Communication and Stakeholder Engagement

• Effective communication and reporting to various stakeholders including regulators, board committee and senior management
• Active and Proactive Engagement with the Internal audit leaders and auditors as well as Business and Functional leaders across lines of business/customer segment/product/channel on developing and enhancing the maturity level of the controls through Offsite Audit and CCM based on the leading practices

People Management

• Develop specialised audit team for execution of complex and specialised Offsite Audit and CCM reviews and checks
• Keep abreast of the emerging technology and trends for use of technology in audit; Drive the audit initiatives for use of Artificial Intelligence / Machine Learning (AI/ML)
• Develop methodology for assessment and conducting trainings for building techno functional capabilities within the audit function; Drive the certification and training programs related to data science, data analytics, data visualization, AI/ML, emerging technologies, emerging risks
• Develop, nurture and grow talent through effective employee engagement and management
• Continuous development of self and the team through regular learning and sharing of knowledge / best practices.