Satish H Patil
CISA
Ulwe
Summary
A Motivational leader who can easily work in and navigate a dynamic and sometimes Ambiguous environment committed to personnel development and with the ability to learn quickly and adapt to business need / priorities as needed.
Overview
14
14
years of professional experience
1
1
Certification
Work History
Assistant Manager
SBI Life insurance Co Ltd.
03.2017 - Current
- Internal Audit of various processes of Insurance (Operations, Sales, Finance, Investment (mid and front office), Group Operations)
- Branch Audits and review of internal control and compliance with the Internal policy as laid by the organization
- Focus on IT General controls (Change Management, Access Management, IT Operations)
- Review of internal control and compliance at Branches with the internal policy as laid by the organization and review of transactions processed with respect to adherence to the regulatory / internal requirements
- Review of the existing processes, identification of gaps and ensuring implementation of mitigating controls and necessary remediation for various department
- Discussion of audit observations with the stakeholders
- Drafting Audit Report and ensuring compliance with audit recommendations
- Study the scope of work for the audit and design the audit plan
- Understand the control objective and evaluate the design and operational effectiveness of the control
- Liaise with different process owners for testing various controls and escalate possible critical issues to the senior management of the department
- Identify control gaps as well as areas of potential improvement for key processes and procedures
- Support Concern department on the implementation of recommended actions identified in the audit Facilitate in the remediation of control gaps
- Review the internal audit reports to check for the control failure, if any
Deputy Manager
Kotak Life insurance Co.
04.2011 - 03.2017
- Conducting detailed risk assessments by analyzing documents, statistics, reports and Internal Data
- Proactively managing financial, regulatory and operational risks
- Advising management on the potential risks of a project
- Describing and estimating the risks affecting the business
- Classifying, evaluating, and monitoring the company’s risk
- Implement strategies to minimize the exposure to any risk
- Carrying out audits and assessments
- Conducting weekly project reviews of all active tasks
- Defining risk appetite
- Analyzing complex data from various sources
- Doing QC of the payment activity which is going to client after surrender/exit status
- Identify the risk area and ensure that risk are neither missed nor double counted
- Conducting the detailed assessment on daily, weekly and monthly basis in which cover all kind of risk involved in life insurance they include:-
- Underwriting process risk: - financial loss related to selection and approval of risk to be insured
- Pricing risk → e.g
- Financial loss due to insufficient premium charged for a risk undertaken
- Product design risk → e.g
- Exposure to events not anticipated in the design and pricing of the life insurance contracts
- Claims risk → e.g
- More than expected number of claims arising
- Systems risk → e.g
- Systems failures
- Suggesting ways to reduce likelihood of these risks arising or reducing their impact if they arise
- Assessing and regularly reporting the key risk measurement factors in the predetermined formats to the senior management
- Preparing and maintaining contingency plans and corrective measures, should the risk events take place
- Maintaining risk policies
- Analysis of all department process and find out the gap and mediate that gap in an organization level
- Conducting ad hoc audit as per the management requirement
- Handling the audit of IRDA and KPMG
Senior Research Executive
Euclid InfoTech Pvt ltd
09.2011 - 03.2011
- Searching online Companies who deal in Tenders and Projects worldwide
- Co-ordinate with Marketing Team
- Maintain the Daily Activity Report
- Operating Customer Management System
Education
Master of Financial Management - Part time MBA
Mumbai university
Bachelor of management studies - undefined
Mumbai university
HSC - undefined
Mumbai university
SSC - undefined
Mumbai university
CERTIFIED INFORMATION SECURITY AUDITOR (CISA) - IT AUDIT
ISACA INSTITUTE
07.2024
Skills
Knowledge of risk management principles and practices
Certification
CISA
Timeline
CISA
07-2024
Assistant Manager
SBI Life insurance Co Ltd.
03.2017 - Current
Senior Research Executive
Euclid InfoTech Pvt ltd
09.2011 - 03.2011
Deputy Manager
Kotak Life insurance Co.
04.2011 - 03.2017
Master of Financial Management - Part time MBA
Mumbai university
Bachelor of management studies - undefined
Mumbai university
HSC - undefined
Mumbai university
SSC - undefined
Mumbai university
CERTIFIED INFORMATION SECURITY AUDITOR (CISA) - IT AUDIT
ISACA INSTITUTE
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