Internal Audit - Depository Executive

Key Responsibilities:

• Internal Audit & Control Reviews:
• Conduct periodic internal audits of depository operations, systems, and procedures to evaluate the effectiveness of internal controls.
• Assess the adequacy of risk management practices and ensure they align with industry standards and regulatory requirements.
• Identify discrepancies or weaknesses in the depository processes and provide actionable recommendations to mitigate risk.
• Regulatory Compliance:
• Ensure that depository activities comply with relevant financial regulations, including SEBI, RBI, and other applicable laws.
• Review and monitor compliance with internal policies, industry standards, and legal requirements concerning depository services.
• Prepare reports on regulatory compliance and liaise with the regulatory authorities to ensure timely resolution of compliance issues.
• Risk Assessment & Mitigation:
• Perform risk-based assessments to identify potential operational, financial, and security risks in the depository functions.
• Recommend and assist in the implementation of risk mitigation strategies to improve operational efficiency and prevent potential risks.
• Review and ensure the depository system's integrity, security, and data protection measures are in place.
• Process Optimization:
• Analyze and evaluate current depository processes and workflows to identify inefficiencies or opportunities for improvement.
• Assist in streamlining processes, ensuring accuracy, efficiency, and compliance with best practices.
• Collaborate with internal teams to implement improvements and enhance the overall effectiveness of the depository operations.
• Audit Documentation & Reporting:
• Prepare detailed audit reports documenting findings, risk analysis, and recommendations for improvement.
• Present audit findings and suggested improvements to senior management and other relevant stakeholders.
• Maintain audit records and ensure proper documentation of audit processes and results for future reference and regulatory purposes.
• Monitoring & Follow-Up:
• Continuously monitor the implementation of audit recommendations and improvements within depository operations.
• Follow up on previously identified audit issues to ensure corrective actions are taken promptly.
• Conduct regular internal reviews to ensure corrective measures have been implemented effectively and are functioning as intended.
• Collaboration with Internal Teams:
• Work closely with other departments, including operations, compliance, IT, and finance, to ensure seamless auditing and risk management procedures.
• Provide internal stakeholders with insights and guidance on best practices for managing and mitigating depository-related risks.
• Assist in training staff on regulatory compliance and internal audit processes to enhance awareness and operational standards.
• Ad Hoc Audits & Investigations:
• Perform special audits or investigations when requested by senior management or in response to identified concerns.
• Assess the potential impact of identified issues and work with relevant teams to investigate and resolve them promptly.

Required Qualifications:

• Bachelor's degree in Finance, Accounting, Business Administration, or a related field.
• Proven experience in internal auditing, preferably in the depository, financial services, or banking sector.
• Strong understanding of the regulatory environment for depository operations, including knowledge of SEBI, RBI guidelines, and other relevant regulations.
• Familiarity with internal audit methodologies, risk assessment tools, and audit software (e.g., ACL, IDEA, TeamMate).
• Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint), with strong data analysis skills.
• Excellent attention to detail, with the ability to identify discrepancies, inconsistencies, and process inefficiencies.