IDFC Limited was set up in 1997 to finance infrastructure, focusing primarily on project finance and mobilization of capital for private sector infrastructure development. Whether it is financial intermediation for infrastructure projects and services, whether adding value through innovative products to the infrastructure value chain or asset maintenance of existing infrastructure projects, the company focused on supporting organisations to get the best return on investments. The Company’s ability to tap global as well as Indian financial resources made it the acknowledged experts in infrastructure finance. Dr. Rajiv Lall joined the company in 2005 and successfully expanded the business to Asset Management, Institutional Broking, and Infrastructure Debt Fund. He applied for a commercial banking license to the RBI in 2013. In 2014, the Reserve Bank of India (RBI) granted an in-principle approval to IDFC Limited to set up a new bank in the private sector. Following this, the IDFC Limited divested its infrastructure finance assets and liabilities to a new entity - IDFC Bank- through demerger. Thus, IDFC Bank was created by demerger of the infrastructure, lending business of IDFC to IDFC Bank in 2015.
The bank was launched through this demerger from IDFC Limited in November 2015. During the subsequent three years, the bank developed a strong and robust framework including strong IT capabilities for scaling up the banking operations. The Bank designed efficient treasury management system for its own proprietary trading, as well as for managing client operations. The bank started building Corporate banking businesses. Recognizing the change in the Indian landscape, emerging risk in infrastructure financing, and the low margins in corporate banking, the bank launched retail business for assets and liabilities and put together a strategy to retailize its loan book to diversify and to increase margins. Since retail required specialized skills, seasoning, and scale, the Bank was looking for inorganic opportunities for merger with a retail lending partner who already had scale, profitability and specialized skills.
The bank was launched through this demerger from IDFC Limited in November 2015. During the subsequent three years, the bank developed a strong and robust framework including strong IT capabilities for scaling up the banking operations. The Bank designed efficient treasury management system for its own proprietary trading, as well as for managing client operations. The bank started building Corporate banking businesses. Recognizing the change in the Indian landscape, emerging risk in infrastructure financing, and the low margins in corporate banking, the bank launched retail business for assets and liabilities and put together a strategy to retailize its loan book to diversify and to increase margins. Since retail required specialized skills, seasoning, and scale, the Bank was looking for inorganic opportunities for merger with a retail lending partner who already had scale, profitability and specialized skills.
VACANCY DETAILS :-
POST NAME - Senior Audit Executive
QUALIFICATION - CA/CMA/MBA/B.Com/M.Com
EXPERIENCE - 5 To 10 Years
LOCATION - Hyderabad
JOB DESCRIPTION :-
The role bearer has the responsibility to actively lead internal audits for the bank as assigned. It entails taking complete ownership of the process - creating checklists, conducting audits as per the defined timelines, publishing the audit reports and preparing for presentations to be conducted quarterly. The role bearer has to adhere by the guidelines set by the bank for audit reports - making the audit process more efficient contributing to the larger objectives of the bank.
Roles & Responsibilities:
- Handling the audit cycle programme covering the Branches, Business and Support Functions to ensure it remains effective and up to date.
- Handling the detailed planning, risk assessment, scoping, and resourcing of complex audit projects.
- Ensure execution of audit plan as per agreed timelines, draft audit reports, discuss and finalize the same with the auditee.
- Ensure that the working papers are prepared in detail and take complete ownership of it.
- Identify critical areas for continuous monitoring and develop necessary exception reports for the same
- Contribute in developing operational expertise in core areas and leverage in internal audits.
- Conduct follow-up audits to make sure that regulations and bank rules are still being met and best practices are being followed.
- Conduct special audits as required by senior management,
- Capture and share best- practice knowledge amongst the team.
- List the deliverables other than primary, but essential for the role.
- Leverage in-house synergies through collaboration with internal stakeholders.
- Stay abreast with global market trends and competitor strategies in key markets.
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