Rahul Arora

Controls Assurance:

• Executing the overall SOX assessment including financial statement risk assessment, scoping, process & controls monitoring and review documentation as well as issue/Gap assessment and reporting
• Assessing the Design Effectiveness of the processes to ensure that process has been designed accurately and completely w.r.t. risk identification, controls existence, process description and process maps
• Checking the Operating Effectiveness of the implemented controls to ensure that all the existing controls are operating in conformity with their design
• Issue Management: Assist in complying with Issue management requirements, including completeness and timeliness of SOX issue identification, assessment and reporting to Senior Management
• Audit Engagement: Partner closely with controls/other teams within the different business units globally as well as internal and external auditors to discuss the review outcome
• Additional Projects: Guided the preparation of process flows and Risk control matrix for Robotics Process Automation (RPA) for Manual Journals process which included identification of risks along with key SOX Controls

• Performing the End-to-End reviews of the Finance Processes to ensure the activities are designed and operated effectively in-line with the defined policy framework.
• Performed the Risk assessment, Design effectiveness and Operating effectiveness of Financial Regulatory Reporting.
• Performed the Design effectiveness and Operating effectiveness for Account ownership & Reconciliation, P n ST and OPAM Processes.
• Management of Plans and Reviews on CTT.
• Reporting and Presentation of monthly UKBA (Branch Accounting System) pack prepared to highlight the major breaks in internal sundry and suspense accounts.
• Prepared quarterly Key Risk Assessment pack in-line with Financial Reporting Key Risk Framework.

I lead the AIG Singapore onshore location for SOX Audit. Apart from this, I worked for US and APAC regions.

Core responsibilities:.

• Regulate and setup different stages to adhere SOX compliance like Scoping, Planning kick off meeting, Walkthrough, Test of design & Operating effectiveness, Remediation plan with Business Owner.
• Provide suggestions for process maps, Process documentation and RCM.
• Update status of control design/ operating effective/ ineffectiveness, dashboard preparation.
• Peer review & reviewing work performed by subordinates
• Onsite Exposure: Traveled to AIG Singapore office and independently led the test of design and operative effectiveness. Individually handling Kick off Meeting with CFO and Controller. Coordinated and scheduled audits with line of business and external auditors
• Additional Projects: Conducted control rationalization project to streamline key controls across all in-scope AIG APAC entities.

Process Reviews, Controls Assurance, Identify emerging risks.

• Testing of independent samples across all existing processes and new projects, for the control areas in line with standard sample sizes and periodicity.
• Testing existing procedures, systems and controls using Self-Assessment test papers with prime focus on operational and regulatory requirements.
• Recording, follow-up and Reporting of all control failures identified within business unit and action plan taken by business.
• Preparation of Self certification document (SCP) for the business on the adequacy, effectiveness of unit’s performance based on own assurance testing /findings.
• End to end process reviews - Complete assurance testing of an independent sample across all the agreed process control areas in line with standard sampling plans.
• Discussion with Operational Risk Management team (ORM) team on focused reports with regard to controls failed on monthly basis.
• Identifying Emerging Risks/issues in the business units and work with unit management team to develop suitable mitigating controls.
• Review of SOX documents of the business unit and updating them with changes identified on yearly basis.