Job Role : Audit Manager in a Credit Co-operative Society Bank is responsible for overseeing internal audit functions to ensure that the bank’s financial operations, internal controls, and regulatory requirements are properly followed. The role involves reviewing financial records, evaluating risk management processes, monitoring compliance with co-operative banking regulations, and identifying operational or financial irregularities. The Audit Manager conducts regular audits of branch operations, loan documentation, cash management, and accounting systems to ensure transparency and accuracy.

Key Responsibilities : 

• Plan, organize, and conduct internal audits of bank branches and departments.
• Review financial records, transactions, and accounting systems for accuracy.
• Ensure compliance with co-operative banking regulations and internal policies.
• Evaluate effectiveness of internal controls and risk management systems.
• Audit loan files, documentation, approvals, and recovery processes.
• Verify cash balances, deposits, and daily banking transactions.
• Identify financial irregularities, errors, or potential fraud risks.
• Prepare detailed audit reports with observations and recommendations.
• Monitor implementation of corrective actions on audit findings.
• Coordinate with statutory auditors and regulatory authorities during audits.
• Review compliance with KYC, AML, and documentation procedures.
• Conduct surprise audits of branch operations and cash handling.
• Ensure proper maintenance of accounting records and supporting documents.
• Evaluate IT systems and controls related to banking operations.
• Provide guidance to branch staff on compliance and control procedures.
• Assess operational efficiency and suggest process improvements.
• Maintain audit documentation and records for future reference.
• Report major audit findings to senior management and the board.
• Support risk assessment and fraud prevention initiatives.