Aditya Birla Capital - Vertical Head - Functional Audit

Job Purpose / Description

- Purpose of this role is to develop and manage execution of the Audit Strategy and Plan for Functional Audits covering all the key areas across corporate, risk management and control functions in ABHI including Compliance, Risk Management Function (covering the management of various risks such as Legal risk, Fraud risk, Operational risk, Third party risk/Outsourcing risk, Liquidity risk, Financial risk, Reputational risk etc.), Legal, Finance and Accounts, HR and Admin, Centralised Operations and Customer Service, Secretarial to assess adequacy and effectiveness of risk management and controls, and adherence to internal policies and procedures as well as applicable laws and regulations.

- The primary function of the role will be to develop and manage the audit strategy and plan for proactively and qualitatively conducting the functional audits across the corporate, risk management and control functions in ABHI factoring the nature of the functions, level and direction of risk, scale of operations, level of digitalisation and use of technology, use and involvement of third party vendors/partners, applicable laws and regulations, the organization strategy, culture and maturity.

- Develop audit strategies for identification and assessment of various risks in corporate, risk management and control functions including Compliance risk, Legal risk, Fraud risk, Operational risk, Third party risk/Outsourcing risk, Liquidity risk, Financial risk, People risk, Reputational risk etc., and current maturity level of controls in these functions.

- Develop audit plans based on risk assessment and regulatory framework; ensure use of advanced integrated auditing concepts and extensive use of technology and data analysis for achievement of the audit objectives

- Plan and conduct functional audits (including corporate, risk management and control functions) testing ~5000+ controls across functions 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 audit coverage of various risks in corporate, risk management and control functions including Compliance risk, Legal risk, Fraud risk, Operational risk, Third party risk/Outsourcing risk, Liquidity risk, Financial risk, People risk, Reputational risk etc. and various applicable laws and regulatory circulars / guidelines across various regulators.

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

- Develop specialised audit team for timely and quality execution of complex and specialised audit reviews covering all the key areas of corporate functions including risk management functions and control functions.

- Ensure timely completion of audit plan and projects along with quality of audits, 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 various risks arising from and managed by the corporate functions (including corporate, risk management and control functions) in ABHI such as Compliance risk, Legal risk, Fraud risk, Operational risk, Third party risk/Outsourcing risk, Liquidity risk, Financial risk, People risk, Reputational risk etc. to ensure, timely identification and resolution of significant risk and control issues; Identify and develop ~7000+ automated tests for monitoring effectiveness of controls on an ongoing basis.

- Active and Proactive Engagement with the Functional leaders for each of the corporate functions (including risk management functions and control functions) on developing and enhancing the maturity level of the controls relating to various risks including Compliance risk, Legal risk, Fraud risk, Operational risk, Third party risk/Outsourcing risk, Liquidity risk, Financial risk, People risk, Reputational risk etc. benchmarking with the leading best practices