Karthik Damodaran

Internal Audit

 Currently working as a Senior Business Audit Supervisor with the Internal Audit team
 Responsible for supervising multiple audits to ensure quality and timeliness of delivery
 Assist Head of Audit in preparation of risk based audit plan, budgeting and allocation of resources to audit missions.
 Experience in complex audits cutting across various geographies ensuring seamless communication with global teams to meet assignment objectives
 Evaluate the effectiveness of internal controls and determine compliance with organizations policies, procedures and regulations
 Preparation and distribution of high quality audit reports to the senior management at the conclusion of the audit
 Recommend internal control improvements to mitigate identified risks as part of the audit and follow up to ensure timely closure
 Wide exposure to audit of wholesale/ investment banking processes. Knowledge and experience span across process related to investment banking middle office, market referential activities, KYC and AML, etc.
 Ensure adherence to audit methodology in line with applicable standards including documentation of audit work papers and applicable governances.
 Work closely with the internal quality assurance team and ensure gaps identified during QAR review are addressed and corrective actions implemented for future audits.
 Engage senior management in discussing potential risk areas and agree on suitable remediation plan
 Contribute and participate in various management forums such as risk and audit committee meetings, regional governance forums, transformation initiatives, etc.

 Banking risk professional with MBA in International Business from reputed institute (Symbiosis Regular Course)
 Expertise in Operational Risk Management for Wholesale Banking Businesses with exposure to Foreign Exchange, Money Market, Derivatives, Securities, Trade finance and Payments Operations
 Experience in embedding operational risk framework across various teams
 Effective stakeholder management skills with experience in engaging stakeholders at multiple levels and across regions
 Good understanding of inherent operational risks and the mitigating controls within investment banking operations
 Hands on experience in using various risk management tools like RCSA, Scorecards, and Heat Maps to assess the operational risk health of any process
 Extensive risk review experience spreading across a variety of operations processes
 Methodology used includes testing of design and operating effectiveness of key controls and working with the operations to closeout any identified gaps
 Reporting and managing risk incidents by escalating them to key stakeholders, carrying out root cause analysis, ensuring appropriate remedial actions to strengthen the controls
 Good analytical skills which enables effective summarization and presentation of relevant data to the senior management
 Six Sigma Green Belt trained with good knowledge of quality management processes and quality implementation techniques.
 Hands-on experience in managing and rolling out quality improvement projects in banking operations
 Currently pursuing Financial Risk Management (FRM) course offered by GARP. Cleared FRM Part - 1

 Worked with the operational risk team facing off to the whole sale banking as a risk manager
 The role involved partnering with operations teams to help them identify, assess, control and monitor operational risk on an ongoing basis
 Help the businesses to deploy risk framework within their processing shops
 Prepare and discuss risk heat maps with business leaders to highlight any operational risk issues
 Liaise with the Operations manager and delivery leads at various levels to identify and close operational gaps within a process
 Validate and analyze risk metrics (KRIs’ and KCIs’ relating to people, process, system and compliance) from various operations team and ascertain the risk profile of the process
 Assess risk for new migrations and changes to the existing processes from an operational risk, compliance and legal point of view
 Attend Global Risk Council meetings and provide inputs from a India operational risk point of view for projects tabled for review
 Conducting periodic risk and compliance re-validation of the live processes
 Conducting process risk reviews for processes and report non-compliance to policies and procedures
 Scope of processes reviewed include, Static data setup, Derivatives trade documentation, Global trade finance and Global Payment operations
 Conducting risk related training sessions for varied audience from time to time

 Worked with the syndicated loans department of the bank and responsible for managing Internal control & risk related activities for the entire department
• Interface with the onshore counter parts (Global & Product Control) to ensure all control requirements & initiatives are implemented in a timely and effective manner within the Chennai team
• Ensuring teams preparedness for Group Internal Audits and other external Audits
• This would be accomplished by conducting mock audits and closing out any gaps that would have been observed in these audits
• Carrying out risk & control assessment of the processes within the department and ensuring effective controls are implemented across identified gaps
• Review and testing of SOX controls
• Conducting SOX trainings
• Ensuring processes adhere to regulatory & compliance requirement like, Anti money laundering, KYC requirements, etc.
• Reviewing open items (both nostro and other past dues) to ensure they are within their permissible levels
• Ensuring no major audit observations for the department in any of the audits
• Ensuring business continuity readiness for the department, by documenting and testing recovery capabilities at regular intervals
• Facilitating teams in attaining good control environment around their processes & delivering control related training to the teams as and when required
• Ensuring compliance to (Information Security Standards) ISMS 27000 & (Quality Management System) ISO 9000:2008 standards

 Have hands on experience in syndicated loans operations (In Loan IQ) with knowledge spanning across the following areas of loan processing
• Processing of new loans and Loan rollovers within a credit facility
• Operational responsibility as an agent bank
• Worked out of London for three month for migrating this process


 •

 Worked with the Organizational Excellence group of the bank
 This group takes quality initiatives across all the business groups of the bank
 Implemented Lean projects across various businesses in the bank. This involved process study & process re-engineering across asset & liability Ops shops of the bank
 Worked on projects under the WoW umbrella making use of a varied range of quality tools
 Certified iQMS auditor for Level 3, a process management system for ICICI bank

 Provided hardware support to customers in Asia Pacific region.
 Worked in a team supporting commercial products such as laptops, handheld devices and projectors.
 Coordinated with the service center, call management, sales and other departments in resolving customer issues.
 Handled escalated cases involving extensive research on technical issues.