Consultant | Internal Audit | Chennai | Controls Assurance

Key Responsibilities:Conduct Concurrent Audits:Perform concurrent audits of branches and other operational units of banks.Review transactions to ensure compliance with banking regulations, internal policies, and RBI guidelines.Identify any operational, financial, and compliance-related risks or discrepancies during audits.Transaction & Process Review:Evaluate daily transactions for adherence to internal control systems.Review loans, advances, asset management, and investment activities of the bank.Verify KYC norms, AML guidelines, and transaction integrity.Risk Identification & Reporting:Identify key risks and control gaps in branch operations.Prepare audit reports highlighting significant issues and recommend corrective actions.Escalate irregularities, fraud, or lapses found during the audit to senior management.Compliance Checks:Ensure compliance with banking laws, regulatory requirements, and circulars issued by the Reserve Bank of India (RBI).Track adherence to credit risk, operational risk, and market risk parameters.Coordination with Branches:Liaise with branch managers and staff for resolving audit issues.Provide feedback to branches on improving operational efficiency and reducing risk exposure.Follow-up Audits:Perform follow-up audits to check the implementation of audit recommendations.Ensure timely closure of audit issues raised during previous audits.Documentation & Reporting:Maintain and update audit documentation as per firms standards.Draft and finalize audit reports and work papers for submission to management.Qualifications:Educational Background: Bachelors degree in Commerce, Finance, Accounting, or related field. CA Inter/ICWA Inter/MBA in Finance preferred.Experience: 1-3 years of experience in concurrent audits, branch audits, internal audits, or statutory audits of banks.Knowledge: Strong understanding of banking operations, credit appraisals, loan review, and RBI guidelines.Skills Required:Excellent analytical and problem-solving skills.Strong knowledge of banking regulations and compliance standards.Proficient in Microsoft Office (Excel, Word, PowerPoint).Ability to handle multiple audits and prioritize tasks.Strong communication and interpersonal skills.