Area Audit Manager - Mumbai

About Aditya Birla Capital and Aditya Birla Finance Limited

Aditya Birla Capital Limited (ABCL) is the umbrella company overseeing the financial services arm of the Aditya Birla Group. With a substantial footprint across Protection, Investment, and Financing solutions, ABCL serves customers throughout their financial journey. The group operates nationwide with over 38,000 employees, 1300+ branches, and a massive network of more than 200,000 agents and partners.

Aditya Birla Finance Limited (ABFL), a subsidiary of ABCL, is a prominent non-banking financial company in India offering tailored financial products like personal finance, mortgage and SME finance, corporate finance, wealth management, debt capital markets, and loan syndication.

Core Values and Culture

ABCL values Speed, Passion, Integrity, Seamlessness, and Commitment. The organization fosters leadership that embraces challenges, builds cohesive teams, and maintains strong relationships to effectively support business goals.

Role Overview

Positioned within the Audit department of Aditya Birla Capital Limited in Mumbai, the Area Audit Manager focuses on supporting the Vertical Head in planning and executing audits specifically for the company's Gold Loan portfolio. This involves comprehensive coverage of the entire lifecycle of gold loans - from customer onboarding, collateral appraisal and purity verification, credit assessment, booking, disbursement, and ongoing monitoring to security protocols, recovery mechanisms including auctions, and compliance with regulatory frameworks.

Key Responsibilities

• Assist in creating a risk-based annual audit plan tailored to gold loan products, factoring in operational complexity, digital adoption, third-party vendor involvement, and regulatory context.
• Drive the execution of onsite and offsite audits aimed at evaluating risk management controls across the gold loan lifecycle.
• Assess processes like customer onboarding, collateral valuation, loan disbursement, collateral release, and auctions to ensure adherence to internal policies, legal requirements, and regulatory guidelines.
• Review system controls in loan origination and management systems, ensuring automated controls are effective and compliant.
• Partner with internal and external audit resources to ensure audit coverage aligns with the scale and complexity of the gold loan portfolio.
• Recommend enhancements to policies, procedures, and controls based on audit outcomes and industry best practices.
• Implement continuous control monitoring and explore technological solutions for proactive risk detection and audit efficiency improvements.
• Engage proactively with stakeholders and support the team’s knowledge growth and skill enhancement.

Additional Information

The role involves identifying risk hotspots and unplanned reviews driven by regulator or management directives. Timeliness and quality of audit deliverables aligned to standards are crucial. The Area Audit Manager supports building an expert audit team by sharing best practices and updated audit methodologies.