Head - Quality Assurance/Internal Controls/Vendor Governance - BFS

Head - Quality Assurance/Internal Controls/Vendor Governance

JD:

- To spearhead the Quality Assurance, Internal Controls & Vendor Governance Unit.

- To apply a risk-based approach to review the controls of operations.

- To discuss the findings of audit reviews with management on a constructive basis in order to develop the most appropriate, proportionate solutions to issues arising.

- To report the results of audit reviews, including management responses and proposed action plans to address issues arising to the Chief Operations Officer.

- To ensure the operational risk control framework for the function.

- To ensure that the audits conducted provide an independent assessment of the adequacy of the internal systems and controls for appropriate identification and evaluation of risk and to ensure compliance with all applicable laws and regulations.

- To draw any weaknesses or shortcomings noted to the attention of management with suitable mitigants.

- Lead the design, implementation and performance monitoring of various strategic projects in the Operations team across different LOBs including Cost Governance, Outsourcing & Vendor Governance, Bank Reconciliation, Metrics Management for Business Performance & Processes. Develop & drive the strategic vision for the Ops & CS team

Job Context

Key Aspects:

- Provide management with a comprehensive risk management process to ensure that risks are identified, and evaluate existing internal controls' ability to mitigate the impact and likelihood of occurrence of the identified risks. Maintaining an awareness of changes in operations, regulations and audit practices in order to evaluate effectiveness and efficiency. Perform follow-up work ensuring management progress actions within the agreed time scales and to escalate failure to progress actions as deemed appropriate. Perform adhoc investigations and reviews & build sustainable controls in the functioning of the unit.

- This team will drive the implementation of vendor governance improvement initiatives across the Ops & CS departments working with multiple teams.

- The various work streams of the function are Cost Saving initiatives, Vendor Governance & Outsourcing, Performance Metrics, Operations Excellence, Bank & GL Reconciliations, Quality Assurance & Service Excellence

- Some of the specific jobs carried out by the role are mentioned below:

- Coordinate with all stakeholders across LOBs and drive implementation and monitoring of strategic projects in Ops & CS

- Drive the vendor governance mechanism for the teams based on performance metrics and regular reporting

- Cost governance for the function to achieve the cost saving goals of the department

- Governance of Process Outsourcing and Vendor Management

- Standing all RBI, Statutory, Internal, ISO & Concurrent Audits

Key Challenges:

- Leading multiple audits simultaneously & ensuring timely responses across the Ops & CS function amidst monthend/ quarterend volume pressures.

- Driving all teams to ensure compliance certifications in true letter & spirit

- Continuously training & improving the service quality of the function with regular interventions & feedback at all levels

- Moderating the governance of vendors across Ops & CS functions to get optimal output & cost of operations.

- Controlling the financial conduct of the function through bank & GL reconciliations in a timely manner in order to mitigate any risk of Ops loss.

- Driving the operational excellence across the department to achieve the best operations practices across the industry