Internal Audit - Trade Finance Operations - SVP position

Job-description, role, activities and deliverables -

· Responsible and accountable for conducting internal audits of Trade Finance business including domestic trade operations, IFSC Business Unit (IBU), and other internal audits conducted by Financial Markets audit vertical in Internal Audit Department (IAD).

· Hands-on experience of Trade Finance Operations, processes and in-depth knowledge of RBI and FEMA regulations pertaining to Imports, Exports, FDI, ODI, ECB, Trade Credit, LC, BG, remittances, Nostro, Vostro accounts, regulatory returns etc. is mandatory.

· Conduct the internal audits in a time-bound manner as per the approved Risk Based Audit Plan, Internal Audit Policy and Internal Audit Process and documentation of audit work-papers/records.

· Conduct the audits as per the scope of the audits which covers aspects of governance framework, policies, processes, business, products, risks, operations, information security, business continuity etc.

· Interpret the regulatory guidelines and its applicability and implementation by the Bank.

· Audit verification Risk Based Supervision (RBS) submissions related to Trade Finance

· Apply experience, knowledge and understanding to continuously improve the effectiveness of internal controls and efficiency in the audit processes.

· Oversight of concurrent audit of Trade Finance and other areas under the domain of Financial Markets audit vertical in IAD which includes -

o Ensure follow up with the Concurrent Auditors for timely submission of concurrent audit reports o Ensure regular update of concurrent audit scope and checklists o Ensure review of concurrent audit reports and issues in terms of coverage and quality o Ensure timely follow-up and resolution of concurrent audit issues

Essential competencies -

· In depth knowledge of the Trade Finance Products, Operations and end-to-end processes which includes -

o Regulatory Returns and internal Management Information System (MIS) reporting o UCP 600, URR 725 and ISBP 745

o Imports, Exports (including Pre & post shipment finance)

o Letter of Credit, Bank Guarantee (Both inland and foreign)

o Working Capital finance (Bills / cheques discounting)

o Capital account transaction (FDI, ODI, ECB, Buyers credit)

o Remittances (Inward, Outward)

o SWIFT, SFMS messages, operations, reconciliation and risk management o Nostro and Vostro account operations

Sound knowledge of regulatory guidelines and best market practices related to above areas.

Qualifications and relevant experience -

· 15 years out of which at least 10 years of experience in the Trade Finance audit / operations in the large to medium commercial banks in India

CA / MBA; Certification in CDCS, International Trade Finance (IIBF) preferred