This position plans and performs audits in the domain of operations and lending portfolio at FINCA; Conducts surprise audits, observes operational practices, reviews lending documents, highlights loopholes in operations, notices violations from policies, procedures, SBP prudential regulations and applied laws; Guides team member in allocated audit sections; Visits clients and there guarantors for authentication of references; Conducts audit exit meetings with regional manager; Compiles audit reports and shares with relevant stakeholders. These responsibilities are carried out WITH the objective to indicate violations in lending practices, highlight loopholes in operations, identify risks, and facilitate audit team in periodic audits WITHIN the limits of organization’s policies, procedures, SOPs, SBP regulations, internal compliance, and directions/guidelines from the supervisor.
- Surprise Audit Reviews:
- Extracts business reports pertaining to operations and lending for surprise audit; Formulates audit plan based on the sections such as lending, cash, accounts opening, daily voucher, policies and procedures
- Divides and allocates audit sections to AM audit team member and provides clarity on the same; Communicates work rotation to team member in order to drive efficacy in audit and improve audit report quality
- Selects document sample for reviews based on audit period in collaboration with AM audit team member
- Reviews daily vouchers including transaction reports and authorization reports and highlights anomalies if any
- Visits operations department for surprise audit and to observe performance of operations manager, branch manager, sales and teller; Highlights problems in day-to-day operations
- Reviews cash keys transfer record, tally/counts cash especially in ATM machines, checks balance limit, notices that whether ATM machine related issues are being timely escalated, timely dispatch of debit/credit card to customers/clients and verifies these observations with SDV register
- Selects and reviews accounts opening forms against set parameters
- Monitors implementation of policies and procedures regarding operations and lending practices e.g. check term deposits, TDRs, activation forms, close accounts reports, and processing time of unclaimed deposits
- Oversees whether branch criteria are met and in compliance with policies and applied regulations; Notes policy and procedure violation in practices
- Selects loan files and reviews them in light SBP prudential regulations and lending policies; Checks outstanding balance in active/suspend accounts and highlights violation if any
- Liaises with third party service provides to seeks evaluation services for certain products e.g. obtains services of goldsmith to check quality of gold for related products
- Reviews unsecured lending related cheques, security cheques, and usage of security; Analyzes expense details of branches and highlights deviation (if any) from allocated budget
- Shares feedback on audit with AM audit team member and guides on effective determination of observation
- Selects fields for visits based on previous trends of lending product
- Field Visits:
- Selects quarter end and years end loan files and visits clients in selected field for audit
- Engages with clients to confirm that they are eligible for lending products and checks whether they have business set up as per pre-requisites of lending products
- Seeks guarantors’ details from clients and visits guarantors to check authenticity of references
- Acquires feedback from clients on loan processing, states issues if occurred, and gauges client satisfaction on bank services
- Reporting and Exit Meetings:
- Receives audit observations from team member; Consolidates audit reports including details of observations, problems notified, and violations highlighted
- States risk factors and their link with lending portfolio and operations in audit reports
- Shares audit reports with line manager for approval on sanity of observations and accordingly incorporates suggested modifications in reports
- Conducts exit meetings with regional manager to conclude branch audit
- Engages with branch manager, regional manager and operations manager to share audit report and seeks their response
- Shares audit reports along with risks highlighted with regional compliance controller
- Managerial thinking
- Confident about his skill-set & professionally mature.
- An objective, logical & enquiring mind.
- Planned and well organized approach towards work.
- Problem resolving approach
- Ability to give constructive feedback.
- Results Oriented - who would meet deadlines on assignments, juggle multiple demands and to work with all types of individuals.
- Auditing Skills
- Microfinance Banking
- An adequate understanding of International Internal Auditing Standards
- Risk-based auditing with a focus on financial risk and regulatory requirements.
- A sufficient idea about the Policies & Procedures of various Deptts at Head office level.
- A sound concept of Internal Control Environment w.r.t COSO Framework.
- Proficient in MS Office (Word, Excel, PowerPoint)
Auditing Standards, International Internal Auditing Standards, COSO Framework,