Internal Audit Executive

Role & responsibilities

As Kotak Internal Audit Member, you will be a part of Kotak Internal Audit Department (IAD) which aims to provide independent, reliable, valued, insightful and timely assurance to the Board and executive management thus demonstrating a role of an ENABLER. This is achieved by looking at the effectiveness of governance, risk/control framework over current and evolving risks, within the current and expected business environment and in accordance with the international standards definition of internal auditing.

Kotak IAD is a 200+ member department spread across 5 locations PAN India (Mumbai, Ahmedabad, Bangalore, Chennai and Delhi) which is set up to perform Internal Audits for KMBL (Kotak Mahindra Bank Limited) Flagship Company of the Kotak group. A one-stop shop.

4 Strategic Business Units - Consumer Banking, Corporate Banking (Wholesale Banking), Commercial Banking, Treasury.

Preferred candidate profile

Executing the delivery of the Kotak IADs Audit plan for the calendar year.

• To assist the Team Supervisor / Team Lead on assigned audit work of KMBL Businesses & Processes. This will entail working on the audit to deliver the Audit Planning Memo, Controls Document, agree issues & action plans with management and submission of draft report to the Team Supervisor.
• Demonstrate sound knowledge of both business/technical areas and expert knowledge in the audit process, including the IA systems, to ensure that audit work is carried out with a high standard that meets all methodologies.
• Demonstrate sound knowledge of regulations governing the bank (RBI, IRDA, SEBI, FEMA, FIMMDA, FEDAI, FATCA, NDS-OM, etc.)
• Conducts reviews to understand end-to-end process, evaluate and highlight key control deficiencies, analyse root cause and discuss / agree with management for effective and timely remediation plans.
• Manage individual workflow to ensure timely report deliveries with quality articulation of audit queries
• Writing high quality audit reports. To embrace and demonstrate effective Audit report writing & presentation skills from E2E perspective (Planning, Execution, Discussion, Clarification, Finalisation, Documentation into system etc.)
• Endeavouring to update awareness of risk issues and changes across relevant business units and use this knowledge to update the audit approach.
• Driving and leading discussions with relevant stakeholders regarding audit observations, consulting with IAD team supervisors / Team Leads.

Decision-making and Problem Solving

• Take into account reputation of Kotak at all times, through positive interactions and adhering to policies, procedures and manuals.
• Set an example and supports fair and ethical behaviour.
• Make sure you are equipped to be able to protect our reputation at all times.
• Challenge others where appropriate, if you believe self to be correct.
• Endeavour to be part in decision making on a broad range of factors, with Kotaks values at heart - Always Responsible, Always Accountable.

Risk and Control Objective

Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Kotak’s Policies and Standards.

Person Specification

Personal attributes essential to performing role including competencies, expertise, knowledge, and experience. Note: experience requirements must not be in the form of years (minimum or otherwise).

Essential Skills/Basic & Preferred Qualifications:

Understanding of Banking Business their products and processes.

• Person who can work alone, close audits and manage stakeholders
• Relevant professional qualifications e.g. CA/CMA, CISA, CIA, (Bachelor’s degree mandatory).
• A Bachelor’s degree in Commerce (preferably) holder with at least 3-5 years of experience in internal audit of a financial institution and/or relevant experience in the following areas:
• Experience in a BFSI or Finance processes, including audit.
• Understanding of relevant regulatory environment would be an added advantage.
• Experience in data analytics and/or exposure to data science/machine learning techniques would be an added advantage.