Assistant General Manager Internal Audit
Ahli United Bank - Kuwait
مجموع سنوات الخبرة :27 years, 9 أشهر
Select Highlights:-
Involved in data collection and collation for preparation of quarterly Audit Committee pack including several annexures.
Preparing the Annual Manpower Budget each year followed by the Risk Based Annual Audit Plan.
Preparing Monthly Activity Report which is submitted to the CEO of the Bank detailing activities carried out by the audit division monthly.
Follow up with Division Heads on status of unresolved audit recommendations at month ends and preparing business segment-wise ageing analysis of the same.
Lead, manage & monitor a team of audit professionals, delegating responsibilities, allocating work among team members and reviewing their assignments.
Liaise with business unit heads to obtain feedback on Client Satisfaction Survey which is sent to them at the end of each audit to ensure that audit performed by the auditor adheres to the strict audit standards.
Handle ad-hoc and specific audit queries of senior management and involved in fraud investigations and handling ad-hoc work as and when assigned to audit upon management request.
Conduct annual appraisal of staff and identify training needs.
Assignments Accomplished:-
Corporate and Private banking, Real estate portfolio and associated Credit Administration Department.
Retail Branches audit of 32 branches of the Bank.
Retail Credit and associated Operations Department.
Audit of Finance Division, including activities of Regulatory Reporting Unit, which prepares periodic reports for Central Bank of Kuwait.
Audit of activities of Central Operations, Trade Finance and Credit Card Department.
AML and Compliance Unit.
Treasury Front, Middle and Back Office functions.
Risk Management functions including review of credit, market & operational risk activities, reporting process, stress testing results & ICAAP document.
Assessing Corporate Governance function of the Bank.
Select Highlights:
Initiated Kick Off meetings with senior management to understand the client’s nature of business, industry, audit requirements, scope of work and identified the Inherent Business Risks.
Scheduled the Audit Plan and initiated assignments for Risk Based Audit post agreement of engagement terms with clients.
Reviewed and analyzed Gross Risks of the client’s business and evaluated Internal Controls. This process aided in identifying Residual Risks and drawing the Process Risk Matrix of clients’ organizations.
Prepared the Audit Program, performed the audit and ensured deliverables on time.
Documented summary of findings, prepared Draft Audit Reports, and set up Factual Accuracy Meetings with clients. In these meetings audit findings were discussed and inputs and comments of the auditees were obtained and evaluated.
Risks of findings were graded as per their Materiality and the Final Audit Report was issued with the client’s management’s comments and a mutually agreed upon date for remedial action.
Conducted Exit Meeting to ensure smooth issuance of report and resolve all disagreements with client.
Actively involved in looking for opportunities for cross selling of other business lines of KPMG.
Supervised the work of 2 qualified staff who reported to me and conducted their annual appraisals.
Directly reported to the partner handling internal audit assignments.
Assignments Accomplished:-
Gained exposure in the following areas of audit while working with various clients of KPMG:
Corporate Governance, Management Reporting structure, Human Resources management, Manpower planning & Payroll systems, Debtors & Creditors management, Claims & Insurance business management.
Fund & Cash Flow management, Budgetary controls & implementation of Absorption Based Costing system.
Procurement planning, Vendor evaluation, Purchases & Inventory management and Project accounting.
Select Highlights and Assignments Accomplished
The company’s core business was financing of cars, commercial vehicles and construction equipment in the form of Hire Purchase, Lease and Loan agreements.
Reviewed the Credit Appraisal of asset portfolio involving scrutiny of documentation of Hire Purchase, Lease and Loan agreements.
Oversaw entire audit functions of the company’s Northern and Eastern Region which comprised of 2 regional offices and 21 branch offices.
Scheduled visits to the regional and branch offices followed by issuance of audit reports.
Detected 2 Dealer Frauds & 2 Employee committed Frauds during my tenure.
Suggested a new formula for measuring the Cumulative Weighted Average Internal Rate of Return (IRR) of entire business booked by the organization.
Suggested 2 new Oracle Based PowerBuilder Front-end modules which helped the organization save time on monthly reporting of MIS.
Benchmarked the entire, erstwhile, Credit Card Customers portfolio of the organization into 3 categories and calculated the Cost - Benefit Analysis of each such category, thus helping the organization to zero in on the most profitable customer segment.
Prescribed a System Generated easy alternative method of reconciling the huge volume of 90, 000 cheques averaging $ 27 Million per month, which the company banked every month as part of Cash Management Services.
Designed single handedly the Intranet site of the Internal Audit Department.
Conducted a Due Diligence Audit for a portfolio taken over by the company.
Audited the Treasury functions of the company to check for optimal Fund utilization and Treasury management.
Directly reported to the Senior Manager who in turn reported to the Head of Internal Audit.
Select Highlights and Assignments Accomplished
Was involved in Cost Collection and Apportionment of cost data.
Prepared the Yearly Budget, Monthly Cash Budget and compiled data for 5 different types of MIS.
Also prepared the Monthly Profitability Statements for each grade of Grease and Lubricants.
Maintained the Project Accounts of a $20 million grease modernization plant, which included asset wise Capitalization of expenses and interest, preparation of Quarterly Accounts and submitting monthly Capital Expenditure Statements.
Select Highlights and Assignments Accomplished
Independently handled the Concurrent Audit of a big Indian private Bank’s regional office for three years and led a team of 4 auditors. Also handled External Audit of few public sector banks.
Was involved in the External and Internal Audit of various finance companies.
Conducted Stock Audits of various manufacturing companies.
Conducted Tax Audits of companies.
Certified Information Systems Auditor (CISA) from Information Systems Audit & Control Association (ISACA), USA.
Chartered Accountant (CA) from The Institute of Chartered Accountants of India.
Bachelor of Science (Major in Economics) from St. Xavier's College, India.