Effective Execution of Credit Audit Strategy and Plan

• Effectively execute credit audit reviews for proactive identification and remediation of control issues covering Credit risk and the related risks such as regulatory, financial, operational risks arising from Credit portfolio and Credit lifecycle processes.

• Conduct credit audits of new as well as existing lines of businesses / products aligned with the nature and complexity of the business to provide independent and objective assurance on the risk management and controls

• Conduct the assigned credit audits covering credit risk and credit process controls; Identify the areas requiring strengthening of controls and recommend systemic improvements for mitigating the credit risk and other risks related to the lending businesses/products/channels.  

• Conduct various credit audit reviews including but not limited to areas such as
• Credit Monitoring and Credit Administration unit to assess the adequacy and effectiveness of the early warning and post disbursement monitoring processes and controls covering various key activities and areas such as monitoring of facility renewals, security and charge creation, collateral valuations and insurance, safekeeping of security and facility documents, post disbursement documents monitoring
• Application controls in Loan Origination System and Loan Management Systems related to automated business and operational process controls to assess effectiveness of the controls such as those related to customer onboarding, loan booking and disbursement, asset classification etc.
• Credit processes across lines of businesses, customer segments, products and channels to assess adequacy and effectiveness of controls for compliance with applicable laws and regulations such as regulations related to KYC/AML, fair practices, interest rates on advances, exposure management, income recognition, asset classification, restructuring, recovery and settlement etc.

• Identify areas/processes requiring greater focus during the risk-based credit audits

• Identify opportunities for improvements to the organization policies, processes and practices based on leading industry practices and emerging risks, and provide relevant recommendations

• Implement audit processes for adequate and effective audit coverage of various risks including Credit, Regulatory, Financial and Operational risks arising from Credit Portfolio and Credit Lifecycle

• Identify and recommend updates/changes in the audit procedures and checklists keeping pace and aligned with changes in internal policies/guidelines as well as legal/regulatory changes and evolving industry best practices to ensure the audit procedures and checklists remain current and updated

• Ensure timely completion of audit plan with quality of audits; Meet with all audit documentation and reporting requirements as per audit policy and procedures and leading best practices 

• Actively and proactively engage key stakeholders for effective implementation of audit review recommendations for risk mitigations and improvement in the control environment

Continuous Monitoring

• Identify triggers / risk hotspots and execute unplanned special reviews / investigations based on various triggers/ hot spots, directives received from regulators, board committees and senior management

• Keep abreast of the emerging audit trends; identify and recommend initiatives for efficient and effective achievement of the audit objectives, and implement the audit initiates.

• Implement continuous monitoring process for ongoing monitoring of credit and related risks arising Credit portfolio and Credit lifecycle; Identify opportunities for automation of credit audit tests for ongoing monitoring of controls

Communication and Stakeholder Engagement

• Actively and proactively engage key stakeholders for effective implementation of audit review recommendations for risk mitigations and improvement in the control environment

Learning and Development

• Continuous development of self and the team through regular learning and sharing of knowledge / best practices.