01Key Responsibilities
Key Result Areas Supporting Actions
Execution of Gold loan audits
Execute gold loans audits as and when assigned for proactive identification and remediation of Credit risk and the related risks such as regulatory, financial, operational risks. Conduct gold loans audits, as and when assigned, covering new as well as existing branches, product, channels aligned with the nature and complexity of the business to provide independent and objective assurance on the risk management and controls Conduct gold loans audits covering controls over various risks inherent in the entire Lifecycle of gold loans across branches, product and channels in ABCL NBFC in accordance with the Policies, Procedures, Legal and Regulatory requirements, Internal Audit Standards, and leading best practices Identify the areas requiring strengthening of controls and recommend systemic improvements for mitigating the risks Conduct gold loans audits across gold loan branches and central functions to assess the adequacy and effectiveness of the monitoring processes and controls covering various key activities and areas in the gold loans lifecycle including collateral valuation and management, gold loans sanction, disbursement and servicing, recovery and auction processes, safekeeping and physical security Conduct review of gold loans system controls in both the Loan Origination System and Loan Management Systems related to automated business and operational process controls to assess adequacy and effectiveness of the controls such as those related to customer onboarding, loan booking and disbursement, asset classification etc. Conduct reviews of gold loans processes across branches, functions, product and channels to assess adequacy and effectiveness of controls for compliance with applicable laws and regulations such as regulations related to KYC/AML, fair practices, LTV and interest rates, collateral valuation safe-keeping and release, exposure management, income recognition, asset classification, auction, recovery and settlement etc. Contribute through ideas / recommendations for improvements to the organization policies, processes and practices based on leading industry practices and emerging risks Contribute through ideas / suggestions for adequate and effective audit coverage of various risks including Credit, Regulatory, Financial, and Operational risks arising from gold loans portfolio and lifecycle Contribute through ideas / suggestions on the audit procedures and checklists so that they remain 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 gold loan audits along with quality of audits, and meet with all audit documentation and .
