Lead - Internal Audit - Trade Finance

Lead - Internal Audit - Trade Finance

- Responsible and accountable for conducting internal audits of Trade Finance business for domestic operations, IFSC Business Unit (IBU), and other internal audits conducted by Financial Markets audit vertical in Internal Audit Department (IAD).

- Hands-on experience of Trade Finance Business and Operations, products, processes and in-depth knowledge of RBI and FEMA regulations pertaining to Imports, Exports, FDI, ODI, LC, BG, SBLC, remittances, Nostro, Vostro accounts, Inland Trade, regulatory returns, KYC-AML guidelines etc. is mandatory.

- Ensure to get the internal audits conducted in a time-bound manner as per the approved Risk Based Audit Plan, Internal Audit Policy and Internal Audit Process and documentation of audit work-papers/records.

- Conduct the audits as per the scope of the audits which covers aspects of governance framework, policies, processes, business, products, risks, operations, information security, business continuity etc.

- Interpret the regulatory guidelines and its applicability and implementation by the Bank.

- Audit verification Risk Based Supervision (RBS) submissions related to Trade Finance

- Apply experience, knowledge and understanding to continuously improve the effectiveness of internal controls and efficiency in the audit processes

- Lead the audit teams and ensure constant improvement in the skillset of the team-members

Oversight of concurrent audit of Trade Finance and other areas under the domain of Financial Markets audit vertical in IAD which includes :

- Ensure submission of concurrent audit reports on time by the Concurrent Auditors

- Ensure regular update of concurrent audit checklists

- Ensure appropriate review of concurrent audit reports and issues

- Ensure timely follow-up and resolution of concurrent audit issues

Essential Skills :

In depth knowledge of the Trade Finance Business and Operations, products, processes from end-to-end which includes :

- Regulatory Returns and internal Management Information System (MIS)

- UCP 600, URR 725 and ISBP 745

- Imports, Exports (Pre & Post shipment finance)

- Letter of Credit, Bank Guarantee (Both inland and foreign), SBLC

- Working Capital finance (Bills / cheques discounting)

- Capital account transaction (FDI, ODI, ECB, Buyers credit)

- Remittances (Inward, Outward)

- SWIFT messages, operations, reconciliation and risk management

- Nostro and Vostro account operations

- Sound knowledge of regulatory guidelines and best market practices related to above areas.

- Knowledge of other areas of banking like Treasury, ALM, Credit, Risk, Liabilities products etc. would be an advantage

- Ability of data analytics for efficient audit execution

Qualification and Experience :

- 15 to 20 years out of which at least 10 years of experience in the Trade Finance audit / Trade Finance Operations in the medium to large commercial banks in India

- CA / MBA