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Aditya Birla Sun Life AMC Limited

Aditya Birla Sun Life AMC Limited

    • Vishal Shah Head – Internal Audit

    Leadership Team

    Mr. Vishal Shah brings with him over 20 years experience as governance professional predominantly working as Internal Auditor for financial services players such as Investment Management, Mutual Funds, PMS,AIF, NBFC, Fintech, Trustee Companies, ARCs etc. During this journey, he has developed deep insights across this industry and established network with diverse stakeholders which helped in proficiently engaging with board / management, multi-disciplinary functions and the regulatory matters.His prior experience includes a stint with BDO India, KPMG, BNP Paribas Investment Management and Haribhakti & Co LLP.


    Mr. Shah is a Chartered Accountant, by qualification.

    Roles & Responsibilities with respect to Risk Management Roles & Responsibilities with respect to Risk Management
    Sn
    Particulars
    1
    Responsible for the governance of third line of defence
    2
    Ensure that there should be a dedicated internal auditor at the AMC level for audit of the RMF of the AMC.
    3
    Ensure that internal auditor reviews both the scheme level and AMC level risks
    4
    Ensure that Non-compliance rate is documented as part of Internal audit reports
    5
    Ensure that Internal auditor submits the internal audit report (incl non compliance rate) to audit committee of the AMC and the board of AMC
    6
    Ensure that Internal Audit report comprises rectification index which represents comparison of non-compliance rate between two subsequent audit reviews.
    7
    For the relevant functional risks, identify, analyze and report and escalate the following to the CRO and CEO along with recommended action plan for Early warning signals, Emerging risks, Major findings, Near miss and loss events and fraud incidents.
    8
    Formulate and review the RCSA for key risks and controls and periodically provide inputs to update the RCSA for the Internal Audit function.
    9
    Responsible for the governance (incl. reputation and conduct risk associated for the respective function)
    10
    Maintaining risk level as per the risk metric
    11
    Define specific responsibilities regarding risk management of key personnel reporting to Head – Internal Audit
    12
    Undertake immediate corrective action for non-compliance or major finding post approval from CEO as per DoP and shall report to CRO regarding the risk reports.
    13
    Perform adequate due diligence of outsourced vendors prior to onboarding by function
    14
    Ensure periodic assessment of outsourced vendors considering following elements:
    • Review of vendors' people, systems and processes
    • Documentation and communication of error tolerance and code of conduct and monitoring breaches
    • Monitor fraud vulnerabilities in the outsourced process
    • Report SLA breaches