Aditya Birla Capital - Team Lead - Offsite Audit & Continuous Control Monitoring

Job Purpose / Description:

- ABHI is a diversified Health Insurance Company with wide spectrum of Health Insurance business catering to diverse customer segments through variety of insurance products/services.

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 Health Insurance business and products/services, corporate functions, risk management and control functions, information systems, technology and security across lines of business, customer segments, products and channels in ABHI.

- Provide continuous independent and objective assurance on adequacy and effectiveness of risk management and controls, and adherence to internal policies and procedures as well as applicable laws and regulations, through use of advanced integrated auditing concepts and extensive use of technology and data analysis for achievement of the audit objectives.

- The primary function of the role will be to develop and manage execution of the Strategy and Plan for Offsite Audits and CCM covering all areas within ABHI factoring the nature of business, level and direction of risk, large scale of operations, level of digitalisation and use of technology, use and involvement of third party vendors/partners, complexity & diversity of the assets under management across the lines of business/customer segments/products, the organization strategy, culture and maturity.

- Develop strategies for Offsite Audits and CCM for identification and assessment of various risks including key risks such as regulatory and reputational risks, information technology and security risk, Financial risk, Fraud risk, Operational risks etc. across various lines of businesses/customer segments/products/channels in ABHI, 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 business, operations, corporate functions, risk management and control functions, information systems, technology and security across lines of business, customer segments, products and channels in ABHI; Ensure use of advanced integrated auditing concepts and extensive use of technology and data analysis for achievement of the audit objectives

- Plan and conduct ~5000+ Offsite Audit and CCM checks covering all areas including insurance business, operations, corporate functions, risk management and control functions, information systems, technology and security across lines of business, customer segments, products and channels in ABHI in accordance with the Policies, Procedures, Legal and Regulatory requirements, Internal Audit Standards, and leading best practices

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

- Set up and develop specialised audit team for execution of complex and specialised Offsite Audit and CCM reviews and checks covering all areas including business, operations, corporate functions, risk management and control functions, information systems, technology and security across lines of business, customer segments, products and channels in ABHI

- Keep audit procedures and checks for Offsite Audits and CCM current and updated keeping pace and aligned with changes in internal policies/guidelines as well as legal/regulatory changes and evolving industry best practices.

- Ensure 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

- Implement a continuous monitoring process for ongoing assessment of all key risks and control areas across Information Systems and Technology, Corporate, Risk Management and Control functions across various lines of businesses/customer segments/products/channels in ABHI to identify opportunities for Offsite Audit and CCM; Identify and develop ~5000+ automated tests for monitoring effectiveness of controls on an ongoing basis to ensure timely identification and resolution of significant control issues.

- Develop strategies and establish programs for enhancing the skill sets towards developing techno functional capabilities within the audit function

- 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