AUDITOR

Manager- In House Concurrent Auditor

Job descriptions

Concurrent Audit

Responsibilities

Auditing different areas of branch banking on a daily basis contemporaneous with occurrence of transactions. Scrutiny of Exceptional Transaction Reports.

Convening Local Audit Committee. Meeting on monthly basis to discuss compliance of audit reports (Concurrent Audit Report of Singapore Branch / RBI Audit Report / Risk Based Internal Audit Report etc.) and recommending for closure of report

Key Performance Indicator

Timely conduct of Concurrent Audit / Audit Review of branches and submission of audit report supported by empirical data, within the stipulated time frame.

Follow-up for compliance / rectification of audit irregularities with the branch

Follow-up with Head Office for submission of clarifications and closure of reports

Revenue Leakage

Responsibilities
Verifying application of Rate of Interest / Charges leading to revenue leakage if any and follow-up for recovery of revenue leakage thereof.

Key Performance Indicator

Amount of revenue leakage detected and recovered.

Compliance

Responsibilities

Verifying branch compliance with Centre Specific Policies / HO Guidelines / Regulatory Guidelines and Notices

Key Performance Indicator

Bringing to the notice of senior management instances of noncompliance with Centre Specific Policies / HO Guidelines / Regulatory Guidelines and Notices

Other Functions

Responsibilities

a) Independent checking of regulatory returns / Qtly Closing Returns.

b) Periodic review of Foreign Audit Sub Policy.

c) Carrying out Credit Process Audit in borrower accounts.

Key Performance Indicators

Accurate and timely submission of MAS / HO returns.

Timely review of Policy

Ensuring compliance with pre-disbursement sanction terms.

Knowledge Sharing

Responsibilities
Conducting tests for Audit Asstt. on weekly basis on audit matters & reporting results to compliance deptt on weekly basis

Key Performance Indicator

Knowledge sharing and Empowering audit staff by imparting training & tests on sustainable basis.

Auditing different areas of branch banking on a daily basis contemporaneous with occurrence of transactions. Scrutiny of Exceptional Transaction Reports. Convening Local Audit Committee Meeting on monthly basis to discuss compliance of audit reports (Concurrent Audit Report of Singapore Branch / RBI Audit Report / Risk Based Internal Audit Report etc.) and recommending for closure of report. Verifying application of Rate of Interest / Charges leading to revenue leakage if any and follow-up for recovery of revenue leakage thereof. Verifying branch compliance with Centre Specific Policies / HO Guidelines / Regulatory Guidelines and Notices. Independent checking of regulatory returns / Qtly Closing Returns. Periodic review of Foreign Audit Sub Policy. Carrying out Credit Process Audit in borrower accounts. Conducting tests for Audit Asstt. On weekly basis on audit matters & reporting results to compliance Deptt on weekly basis

Timely conduct of Concurrent Audit / Audit Review of branches and submission of audit report supported by empirical data, within the stipulated time frame. Follow-up for compliance / rectification of audit irregularities with the branch. Follow-up with Head Office for submission of clarifications and closure of reports. Amount of revenue leakage detected and recovered. Bringing to the notice of senior management instances of noncompliance with Centre Specific Policies / HO Guidelines / Regulatory Guidelines and Notices. Accurate and timely submission of MAS / HO returns. Timely review of Policy. Ensuring compliance with pre-disbursement sanction terms. Knowledge sharing and Empowering audit staff by imparting training & tests on sustainable basis.

Concurrent Auditor is responsible for the timely and systematic examination of financial transactions to ensure accuracy, authenticity, and compliance with rules, regulations, and procedures. This audit is conducted on a continuous basis (contemporaneous) rather than as a post-audit activity. Verify strict adherence to Know Your Customer (KYC), Anti-Money Laundering (AML), and Combating the Financing of Terrorism (CFT) guidelines for all new accounts.

To verify that transactions are within policy parameters, MAS & RBI guidelines, and delegated authority. Audit reports must be submitted in specified formats to the branch, Regional Office, or Inspecting Wing within the stipulated timeframe.

The Auditor will be directly reporting to Bank of India, Head Office situated at Mumbai, India. Minimum 7 years experience in banking industry is required and specifically 2 years in audit vertical in last 5 years.