Job Description

:Internal Audit:IFC TeamINTERNAL USAGE:
No. of Vacancies: Reports to:
Is a Team leader? No Team Size:Grade:
Business: Department: Sub-Department:
Location:About DepartmentInternal Audit function of the Bank operates independently under the supervision of the Audit Committee of the Board and is responsible for providing an independent view to the Board of Directors and Senior Management on the quality and efficacy of the internal controls, risk management systems, governance systems and processes in place on an on-going basis. This is provided to primarily ensure that the business and support functions are in compliance with both internal and regulatory guidelines.About the RolePrimary objective of Internal Financial Control (IFC) team is to provide an independent assurance on the effectiveness of the internal controls over financial reporting. The IFC team shall also identify opportunities for improvement and provide recommendations to develop or strengthen the Banks internal control systems and enhance the reliability of the Bankss financial statements.Key Responsibilities

• Conduct effective risk assessment and assessment of controls relating to financial reporting at the organization level
• Drawing up the plan for conducting the IFC testing post identification of the universe of processes / controls pertaining to financial reporting, developing clear and concise risk/control matrices and testing programs, and reporting
• Ensuring timely commencement / completion of IFC testing, adhering to given schedules, and ensuring adherence to regulatory guidelines and applicable standards.
• Keep abreast of the regulatory requirements, applicable standards, knowledge of the Bank/ industry / sector, latest developments / media news and the potential risks relating to financial reporting
• Driving Innovation and automation through effective use technology
• Ensure comprehensiveness and quality of testing to ensure mitigation of risks
• Ensure timely conclusion of the testing results including ongoing engagement with Key Stakeholders
• Effective engagement with internal / external stakeholder

QualificationsOptimal qualification for success on the job is:

• CA/MBA (finance)

0-10 Years of Banking Domain Experience preferred

• Experience in internal audits / statutory audits / IFC testing is preferred

Role Proficiencies:

• Ability to have effective communication with Senior Management, Executive Directors and Audit Committee.
• Ability to provide insights to Senior Management based on deep understanding of the business, processes and industry trends for remediation of the risk and strengthening the control environment.
• Ability to have effective communication with the Regulator/ external stakeholders e.g. statutory auditors, etc.
• Technically proficient with strong analytical abilities, conversant with Risk Strategies and process, wholesale and retail banking products and the related processes and controls, network environment and various data analysis software tools.

Skills:Refer to the About Company:Axis Bank is the third largest private sector bank in India. The Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. The Bank has a large footprint of 4,594 domestic branches (including extension counters) with 11,333 ATMs & 5,710 cash recyclers spread across the country as on 31st March, 2021. The Bank has 6 Virtual Centres and has over 1500 Virtual Relationship Managers as on 31st March 2021.The Overseas operations of the Bank are spread over eight international offices with branches at Singapore, Dubai (at DIFC) and Gift City-IBU; representative offices at Dhaka, Dubai, Abu Dhabi, Sharjah and an Overseas subsidiary at London, UK. The international offices focus on Corporate Lending, Trade Finance, Syndication, Investment Banking and Liability Businesses

Axis Bank