- Ensure sharing of MIS and reports with business, finance, risk, HR & other stakeholders for all lines of businesses across operations on a periodic basis.
- Manage appropriate internal checks & controls to maintain accuracy of data being shared with various stakeholders.
- Review tracking of open entries provided by Accounts team by liaising with the banks to identify customers and intimate Operations team to pass the entries.
- Ensure reconciliation of reports of Operations function with financials on a periodic basis along with GL proofing and Liaise with Compliance team for facilitating RBI Audit data requirements.
- Ensuring transactions in TDS GLs (receivable and control GL’s) are reconciled on a monthly basis
- Reviewing the TDS refund process.
Implementation of CAATs
- Evaluate & implement Computer Assisted Audit Techniques as & when needed to ensure a 100% check on transaction processing across all units in Operations function.
- Define & institute control reports which will throw up anomalies in patterns, deviations in processing logics, etc. & can be corrected with minimum lag time.
- Engage with all functions while setting up new products, processes, to build suitable controls & reporting mechanisms of inherent risks identified & accepted by management, which will aid timely corrective action.
- Build & create CAAT logic as & when needed for the Operations function on an on-going basis.
Building Datawarehouse fast-tracking Automation Index
- Collaborate with BIU to achieve maximum reports through datawarehouse & strengthen the reporting logic.
- Work with Change Management & line operation teams to quick-track the Automation Index of the Operations function.
- Institute a mechanism to continuously identify improvement opportunities in existing reports & strengthen the same to rule out any possibilities of errors and omissions.
Building a Culture of Continuous Improvement
- Organize and conduct knowledge and best practice sharing sessions within the function and Check feasibility of a best practice implementation and define activities with timelines
- Promote continuous improvement by leading Kaizen, quality circles, green belt projects and activities for cross functional teams
- Implement project monitoring mechanisms for assessment of project progress and subsequent success against business excellence objectives
- Develop and maintain of a knowledge/ ideas repository to capture good practices within and outside the organization
- Track outcomes of the continuous improvement activities on an ongoing basis and showcase success stories at internal and external forums
Process Excellence
- Ensure that SOPs are updated regularly to reflect improvements and changes in existing products and SOPs for new products related to the Operations function
- Define and agree on SLAs for key operational activities for the respective lines of business
- Oversee TAT monitoring and FTR reporting, identify improvement opportunities and devise ways to improve these parameters
- Drive participation in quality initiatives across all units of the Operations department
Internal Operations Audit Management
- Build an audit plan covering all necessary functions and processes as per diverse compliance requirements and oversee roll out
- Oversee preparation of an audit calendar for the year and share it with the Section Head
- Drive timely commencement and closure of all internal audits as per plan, and recommend resolutions for process gaps identified
- Oversee audit report preparation and review audit findings, suggestions, remarks and actions with timelines
- Plan and manage follow through on high priority audit actions and share progress updates with the Section Head
External Operations Audit Facilitation
- Support the Section Head in ensuring that the external audits run smoothly and Ensure data and information is made readily available for external auditors
- Discuss and understand audit findings and observations with the auditors and provide rationalization to remove irrelevant comments and observations
- Communicate audit findings and critical observations to respective operations unit and the Section Head
- Draw up an implementation plan to drive audit actions and track them for closure
Risk Management & Internal Controls
- Manage recording, implementation and review of internal controls and operational risk mitigation mechanisms
- Ensure all incidents are recorded and CAPA is maintained for the respective lines of business
- Ensure CAPA data is ISO ready and made easily available, when required
- Manage classification the risks, identification of the control measures and testing on an ongoing basis, and ensure availability of updated RCM information