About the role
Job Purpose The purpose of the job is to conduct control testing for the branches and corporate processes thereby contributing in improving the effectiveness of internal control processes and to monitor and assess the adequacy of control framework. Introduce and implement innovative audit practices, data analytics ensuring audit automation and efficiency. Engage with stakeholders and influence to ensure quick implementation of controls. Job Context & Major Challenges Job Context/Job Challenges: Aditya Birla Capital (ABC) is the holding company for the financial services businesses of the Aditya Birla Group. With subsidiaries that have a strong presence across Protecting, Investing and Financing solutions, ABC is a universal financial solutions provider catering to the diverse needs of its target customers across their life stages. ABC works under the brand ‘Aditya Birla Capital’, a single brand encompassing all the financial services entities of the Group. Anchored by a workforce of 20,000+ employees which is growing, ABC has a nationwide presence through 850+ own branches, 2,00,000 agents and channel partners and bank partners. A driving force for Aditya Birla Capital, throughout the Journey, has been the Vision “To be a leader and role model in a broad based and integrated financial services businesses”. Aditya Birla Capital Limited manages aggregate assets under management over Rs. 3,00,000+ Cr. and lending book of Rs. 60,000+ Cr., through its subsidiaries and joint ventures. ABC has created a total customer base of 35+ million. Aditya Birla Capital got listed on both stock exchanges in Sept ’17. Key Challenges for the role: •Consistently proactively identifying what can go wrong scenarios and conducting business relevant audits •Stakeholder engagement and building rapport, at the same time being independent to the audit role and having unbiased view on the audit results •Audit innovation and automation using new tools and audit techniques •Collaboration to get issues implemented and gather support for audit from stake owners •Good business understanding to identify gaps Key Result Areas KRA (Accountabilities) (Max 1325 Characters) Supporting Actions (Max 1325 Characters) KRA1 To review controls – Branch and Corporate processes Connect with business stake owners to have a good understanding of changes in processes and business plans Update the risk registers with changes in business plan / processes, identify new what can go wrong scenarios Conduct control testing for branches and corporate processes Build a framework to identify red flags / triggers for control failures Independently drive and execute the framework to assess controls, identify fraud vulnerabilities and process gaps from a regulatory, cost save and automation stand point Suggest remediation controls, formulate action plans and influence stake holders for quick implementation Report audit findings post discussion with relevant stake holders Ensure prompt and quality deliverables KRA2 Audit automation and analytics Strengthen the audit framework automating all manual processes in audit Implement automated audits introducing new tools and data analytics Drive the agenda and ensure implementation with no excuses overcoming any challenges KRA3 Management / Thematic reviews Conduct quick snap reviews or thematic audits Understand management expectation and align the audit objective Conduct timely review and closure of reviews Discuss findings with all stake owners and logically conclude Ensure implementation of gaps with stake owners KRA4 Conduct audits with external auditors team Overview and shadow the execution of external auditors Ensure audit context, scope is understood by auditors and audit is performed accordingly Audit is conducted as per defined scope and expectations of Management & Audit Committee Ensure timely provision of data requirements, responses and report closures Act as a catalyst between the functions and auditors Perform additional testing (if required) beyond the audit period or scope for critical findings in the course Ensure there is proper consensus between the auditor and auditee stake owners on the observations and management action plan Ensure action plan is adequate and addresses the audit finding Report articulation is concise and relevant KRA5 Reporting and Dashboards Circulate periodic dashboards – progress updates Usage of visualisation tools to make the internal audit messaging appealing and business relevant Control Insights dashboard / MIS to management