Head - Quality Assurance/Internal Controls & Vendor Governance - Bank

Head - Quality Assurance, Internal Controls & Vendor Governance

Quality Assurance :

- Develop & implement audit systems, standards, processes & procedures to enable assurance checks for existing & new products

- Lead the delivery of standardised policies & procedures. Ensure that these are understood at all levels in the operations function so that all aspects of risk management are managed effectively.

- Ensure existing SOPs are updated and maintained on a periodic basis through a review and refresh activity

- Oversee the creation of SOPs for new products related to the Operations function

- Agree on process, policy and system handling for new / existing products with the Operations team

- Ensure service excellence with timely interventions & regular governance of service quality of the organisationInternal Control Unit

- Implement Computer Assisted Auditing Tools for 100% check on accuracy of financial transaction processing across all lines of businesses.

- Ensure reporting of anomalies, deviations, exceptions to senior management team & act as a second line of defence to operational controls.

- Ensure maintenance of Ops Risk Register & guide the team to mitigating such risks in future.

- Periodically review and Share reports on audits, new process development, process enhancement, and continuous improvement initiatives with key business stakeholders regularly.

- complete accuracy for Balance Sheet and P&L GLs' of LMS systems. Manage accounting efficiency & effectiveness for adhering organizational and regulatory standards.

- Drive daily bank & GL recons to enforce discipline & rigour around financial transactions in the function & identify & course correct anomalies if any

Internal Operations Audit Management :

- Establish a clearly defined framework for internal audit & concurrent audits

- Institute a process for carrying out regular internal audits across lines of operations

- Approve project plan and calendar for carrying out internal audits covering all lines of business of the Operations department

- Review classification of incidents/ gaps, and make recommendations for corrective and remedial actions

- Collaborate with the Operations team to address higher order incidents and critical process gaps identified during the audits

- Recommend corrective actions to the Operations team to resolve issues identified during the audit

- Present audit reports, critical observations, findings and insights to the Senior Management team

- Oversee follow through on high priority audit actions and share progress updates with the Senior Management team as relevant External Operations Audit Facilitation

- Manage the external audit calendar for the Operations department to ensure a smooth run of the external audit

- Ensure timely sharing of information to the auditors and closure of queries raised by auditors

- Communicate audit findings and critical observations to respective operations unit and Senior Management team

- Build an implementation plan to drive audit actions and track them for closure

- Attend Audit Committee Meetings on a quarterly basisCompliance & Ops Risk Management

- Signoff Compliance Certification for Operations function as required by the Compliance Policy of the organisation.

- Track & report the Ops loss if any for the function by regular monitoring & reporting mechanism.

- Define procedures to institute, record, implement and review internal controls and operational risk mitigation mechanisms

- Define RCM framework by classifying the risks, identifying the control measures and testing them on an ongoing basis

- Institute an ongoing process for identifying and capturing additional risks through internal quality checks

- Oversee feeds of incidents into CAPA trackers & ensure rectification/ improvement of processes with best in class solutions. Relationship Management for Vendors & Outsourced Partners

- Strategically plan and manage all interactions with a vendor from selection, to providing product/service thru transitioning/closure

- Monitor and work with vendors to improve performance as needed.

- Manage and support the delivery of contracted services

- Manage the vendor relationship, serve as a single point of contact to leverage economies of scale and avoid duplication.

- Review, negotiate and execute business and service terms of vendor agreements to maximize operational and financial performance, while reducing operational, compliance and associated risks

- Ensure appropriate legal review of any given agreement in collaboration with service owner & relationship manager.

- Facilitate & Implement a periodic review of the vendors

- Provide advance notice of risk, an impact analysis and options to avoid, mitigate or transfer risk.

- Research and prepare vendor related data and reports that support overall vendor management.

- Manage Monitors strategic vendor engagements & partnerships, day-to-day operations associated performance, product/services, including deployment, usage tracking and billing, quality & compliance Vendor/Outsourcing Governance Framework creation

- Facilitate the development and implementation of governance framework, Monitoring of TAT, SLAs other KPIs, Financials, Training, Quality, Legal, IT related, escalations and other associated aspects are met and complied on a regular basisVendor/Outsourcing Governance Performance Management

- Ensuring adherence to Performance metrics, Risk & Compliance, quality, training through regular reporting with the stakeholders.

- Conducting Monthly Performance & Quality Reviews with the business partners and Periodic reviews with the key stakeholders