Job Title: Gold Loan Audit Executive Department: Internal Audit Industry: Gold Loan / NBFC Reporting To: Audit Manager
Key Responsibilities
Gold Audit | Physical Gold Verification | Purity & Weight Verification | Cash Audit | Loan Documentation | Fraud Detection | Auction Audit | Compliance Monitoring | Branch Audit | MIS Reporting | Risk Assessment | Audit Observation & Follow-up
Job Responsibilities
- Conduct branch audits and surprise audits of gold loan branches.
- Verify physical gold ornaments against system records, pledge packets, and loan documents.
- Check gold purity, gross weight, net weight, stone deduction, and eligible loan amount.
- Identify excess-weight, short-weight, spurious/fake gold, 18K/low-purity gold, and missing-ornament cases.
- Verify gold packet sealing, packet opening/resealing, custody, and locker controls.
- Check cash balance, cash shortage/excess, daily cash tally, and cash handling procedures.
- Verify customer collections, deposits, demand/collection/deposit differences, ageing, and supporting evidence.
- Review gold loan documentation, including KYC, loan applications, customer consent forms, loan cards, and pledge records.
- Verify loan disbursement, re-pledge, renewal, closure, auction, and release processes.
- Review auction-related records, including maturity accounts, auction notices, auction files, LTV compliance, and gold movement.
- Identify operational irregularities, control weaknesses, and potential fraud indicators.
- Prepare audit observations, branch-wise MIS reports, and audit reports.
- Obtain explanations and corrective-action plans from Branch Managers and concerned staff.
- Monitor compliance of audit observations within the prescribed TAT.
- Escalate serious/repeated observations to Audit/Management/HR/Legal, as applicable.
- Conduct follow-up verification to confirm that corrective actions have been properly implemented.
- Maintain confidentiality of customer, loan, and audit-related information.
Key Skills
- Gold valuation and purity/weight verification
- Gold loan process knowledge
- Internal audit and risk assessment
- Fraud and irregularity identification
- Excel/MIS reporting
- Documentation and record verification
- Analytical and observation skills
- Report writing and professional email communication
- Knowledge of NBFC/gold-loan policies and procedures
- Willingness to travel for branch audits
Pay: ₹23,000.00 - ₹30,000.00 per month
Benefits:
- Cell phone reimbursement
- Flexible schedule
- Health insurance
- Provident Fund
Work Location: In person
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