State Street

SVP, Head of Audit, India

Recruiter
State Street
Location
Bangalore, India; Hyderabad, India
Salary
Not disclosed
Posted
05 Apr 2024
Closes
26 Apr 2024
Ref
R-747992
Approved employers
Approved employer
Contract type
Permanent
Hours
Full time
Experience level
Director

Role Summary:

The Head of Audit, India reports directly to the General Auditor of State Street and is responsible for providing leadership in establishing, directing, and executing the strategy for Audit’s India operations. This includes the direct ownership of audit work in Global Custody and Controllership functions, oversight of any global audit work that includes operations in India and our centralized issues validation team. As the executive audit leader of India, key responsibilities of the role include hiring, retaining and developing a professional team with the composite skill set appropriate for the size and risk profile of State Street’s India business and overseeing the execution of audit work in alignment with industry standards, regulatory requirements and the Corporate Audit Methodology and quality standards.

The Head of Audit, India provides independent and objective assessments of the design and operating effectiveness of State Street’s India system of internal controls. The assessments include controls over regulatory reporting, compliance with laws, regulations and corporate policies, and the effective management of risks faced in executing the strategic and tactical operating plans. As a key member of the India executive team, responsibilities include developing and maintaining strong partnerships to provide guidance/consultation in the development of strategies to improve performance, drive continuous improvement in processes, raising the bar of risk excellence for the firm and developing leaders of leaders as part of succession for Corporate Audit as well as the company.

Other Key Responsibilities Include:

  • Establish and maintain collaborative partnerships with management to provide proactive risk advice in line with independence requirements.
  • Evaluate and recommend improvements to the design and operating effectiveness of State Street’s global risk management, control and governance processes.
  • Collaborate with the Corporate Audit leadership team responsible for the business aligned audits in the planning and execution, as applicable, to the audits of India legal entities and business lines in India in accordance with the Standards for the Professional Practice of Internal Auditing promulgated by the Institute of Internal Auditors and expectations of local regulators.
  • Work with Global functional leads to develop required internal India audit strategies and plans that address and evolve with the applicable risk facing activities within the legal entities and business areas.
  • Develop and maintain the requisite knowledge of key laws and regulations, current trends and technical issues impacting the professional practice of internal audit across the India regions.
  • Modify program activities to meet the evolving legal and regulatory changes for the region and drive continuous improvement through the development and implementation of new techniques, methods and practices to improve audit effectiveness and efficiency.
  • Provide leadership, oversight and reporting of the global audit plan with respect to India legal entity and jurisdictional requirements.
  • Monitor and report on previously identified control issues to ensure they are properly addressed by management, verify the effectiveness of corrective actions taken, and reports the status of outstanding issues that may be past due with respect to correction.
  • Report on annual audit plan progress, results of audits performed and status on open and overdue audit issues to the various Boards, management and governance committees within India.
  • Manage a professional team of approximately 60 staff located in India.
  • Lead the development and implementation of Corporate Audit strategic priorities as assigned by the Chief Auditor.
  • Develop, attract, engage and retain industry-leading talent. Allocate resources to promote efficiency and effectiveness to provide sufficient audit coverage and achieve timely completion of the annual audit plan with high quality audits.
  • Ensure that all audit staff have development plans that keep them current with local laws, regulations and market practices.

Qualifications:

  • Minimum of 20 years of related experience including time spent managing in an executive capacity.
  • Minimum of 10 years as a lead India auditor in Financial Services, GSIB experience preferred.
  • Demonstrated experience evaluating operational business functions for a multi-jurisdictional financial service company.
  • Demonstrated examples of operating with integrity, independence and objectivity while managing a large internal audit program
  • A minimum of bachelor’s degree in law, Finance, or Business Administration, or in a related field, or equivalent experience
  • Post-graduate education, with a master’s degree in business administration preferred.
  • Related business experience in accounting, economics, legal, for example
  • Expert knowledge of audit principles and strategies and demonstrated impact of continuous improvement.
  • Highly organized with extensive analytical, problem-solving and negotiation skills
  • Proven interpersonal and communication skills (executive presence, gravitas and influencing skills) at both the executive and board level.

For further information, and to apply, please visit our website via the “Apply” button below.

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