Internal Audit Executive

About the Role

The Internal Audit Executive will be a part of the Kotak Internal Audit Department (IAD), an Enabler aiming to provide independent, reliable, valued, insightful, and timely assurance to the Board and executive management. IAD focuses on the effectiveness of governance, risk/control frameworks, and evolving risks within the business environment, adhering to international standards for internal auditing. IAD is a 200+ member department across 5 locations in India, performing internal audits for Kotak Mahindra Bank Limited (KMBL), which includes 4 Strategic Business Units: Consumer Banking, Corporate Banking (Wholesale Banking), Commercial Banking, and Treasury.

Key Responsibilities

• Execute the Kotak IAD's Audit plan for the calendar year.
• Assist the Team Supervisor / Team Lead on assigned audit work of KMBL Businesses & Processes.
• Work on audit deliverables including Audit Planning Memo, Controls Document, agreeing issues & action plans with management, and submission of draft reports to the Team Supervisor.
• Conduct reviews to understand end-to-end processes, evaluate and highlight key control deficiencies, analyze root causes, and discuss/agree with management on effective and timely remediation plans.
• Manage individual workflow to ensure timely report deliveries with quality articulation of audit queries.
• Write high-quality audit reports, demonstrating effective Audit report writing & presentation skills from an E2E perspective (Planning, Execution, Discussion, Clarification, Finalization, Documentation into system, etc.).
• Endeavor to update awareness of risk issues and changes across relevant business units and use this knowledge to update the audit approach.
• Drive and lead discussions with relevant stakeholders regarding audit observations, consulting with IAD team supervisors / Team Leads.
• Take into account the reputation of Kotak at all times through positive interactions and adherence to policies, procedures, and manuals.
• Set an example and support fair and ethical behavior.
• Ensure protection of the bank's reputation.
• Challenge others where appropriate, if believed to be correct.
• Participate in decision-making on a broad range of factors, with Kotak's values ("Always Responsible, Always Accountable") at heart.
• Ensure all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework, and internal Kotak Policies and Standards.

Requirements & Tech Stack

• IA systems
• RBI
• IRDA
• SEBI
• FEMA
• FIMMDA
• FEDAI
• FATCA
• NDS-OM

Qualifications

• Understanding of Banking Business, their products, and processes.
• Ability to work independently, close audits, and manage stakeholders.
• Relevant professional qualifications such as CA/CMA, CISA, CIA.
• Bachelors degree mandatory (preferably in Commerce).
• At least 3-5 years of experience in internal audit of a financial institution and/or relevant experience in BFSI or Finance processes, including audit.
• Understanding of the relevant regulatory environment would be an added advantage.
• Experience in data analytics and/or exposure to data science/machine learning techniques would be an added advantage.