Team Member - Gold Loan Audit - Surprise- Mumbai

Job description

**Job Description – Team Member - Gold Loan Audit (Offsite)** Enriching Lives Winning as ONE **ABC Company Info** Aditya Birla Capital Limited ("ABCL") is the holding company for the financial services businesses of the Aditya Birla Group. With subsidiaries/JVs that have a strong presence across Protecting, Investing and Financing solutions, ABCL is a financial solutions group that caters to the diverse needs of its customers across their life cycle. Powered by more than 38,000 employees, the businesses of ABCL have a nationwide reach with over 1300 branches, more than 2,00,000 agents/channel partners and various bank partners. **Aditya Birla Finance Limited** Aditya Birla Finance Limited (“ABFL”), a subsidiary of Aditya Birla Capital Limited, is among the leading well-diversified non-banking financial services company in India. ABFL offers customized solutions in the areas of personal finance, mortgage finance, SME finance, corporate finance, wealth management, debt capital markets and loan syndication. **What makes an ideal ABC Citizen?** At ABC, we are constantly on the lookout for individuals who resonate with our 5 core values of Speed, Passion, Integrity, Seamlessness and commitment and live them every day, while also understanding our vision. We believe in building leaders who thrive on challenges, take the onus of creating and sustaining strong teams, and forms strong networks as a result of effective relationship-building. **Role Details** **Business** Aditya Birla Capital **Unit** Aditya Birla Capital Limited **Location** Mumbai **Role** Team Member - Gold Loan Audit **Department** Audit **Eligibility Criteria** Bachelor or master’s degree, Experience in Collection for mid market/corporate **Required Skills & Competencies** - Analytical thinking and attention to detail. - Integrity and strong ethical standards. - Effective communication and reporting. - Process orientation and innovative mindset. - Networking and stakeholder management. - Ability to understand complexity of deal - Flexibility for travel and on-ground for collection. - Technical proficiency in MIS and fraud systems. Key Result Areas Supporting Actions Development of Offsite Audit Strategy and Plan - Develop and manage 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 - Develop offsite gold loans audit plans (including KYC audit, image-based audit, continuous control monitoring using data analytics, trigger-based surprise audits, etc.) ensuring use of advanced integrated auditing concepts and extensive use of technology and data for achievement of the audit objectives Set up and develop specialised gold loans offsite audit team (including central offsite audit team 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 manage 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 requirements, Internal Audit Standards, and leading best practices - Drive and manage 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 requirements, 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 customer 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 settlem