Knowledge Hub

Objective

Creating a unique,
trusted & identified
brand in banking and
financial services

Established
Establishing a
specialization in every
universal brand in
subdomain of
banking and financial
banking and financial
services.
services

Creating proprietary
Developing a good
knowledge &
talent pool
intellectual property.
 Key Responsibility Areas
1. RBI circular / Internal policy document / SOP 14. Test design

2. Process notes collection, review, implementation, availability 15. Accompany BD team during the pitch

3. Compliance with ICAI standards, RBI guidelines 16. Course identification for the top 15 people

4. Standard mechanism for knowledge transfer, handover of project, assignment 17. As a speaker

5. Repository & database of every engagement undertaken 18. Article publishing

6. Presentation, brand guidelines & brand book (in compliance with ICAI, hire an 19. Qualitative KRA
expert)
20. Article and Q&A based on that article
7. Training

8. Quarterly review of observations and analysis of the same

9. Certificate / Review report

10. Standardizing and compliance check on assurance services

11. Newsletter

12. List of systems applied in banking and 6-7 lines on the system

13. UDIN-wise list


Sr. No. Inputs
1 SOPs of relevant projects
2 RBI Circulars
3 Process notes
4 ICAI standards
5 RBI Guidelines
6 Monthly Observations sheets
7 Training logs
8 Trainings requirements
9 Certificate / Review report
10 Newsletter - Content / research work
Inputs and Output
Concern Department Outputs
-Understanding document
Operational department
-Analysis of the difference between what is to be done and what is followed
-Understanding document
Knowledge Hub / Operations
-Analysis of the difference between what is to be done and what is followed
- Process note review as per SOP and RBI circulars
Operational department
- Timely updation reminders
-Compliance with auditing standard
Knowledge Hub - Compliance with regulatory requirements
-Peer review compliance and other requirements
- Compliance with regulatory requirements
Knowledge Hub / Operations
- Timely training to team on new updates to team
- Repository creation of observations for all project
Operational department
- Timely updation of the observations to client in report format
- Test Conduct
- Frequency of trainings
Operational department
- Need of training to be taken project wise
- Upskilling the employees (Talent creation)
- Conduct trainings as per the availability and requirements
Knowledge Hub / Operational
- Research papers if any new topic to be covered
Department
- Requirement of each of training
- Compliance with requirements of the standards
Operational department - Quality of report
- Review report before partner review
- Research work
Whole organization
- Updates about the banking industry
 Project list
PROJECT LIST
85
The Knowledge Hub list contains the list of projects that are considered group projects in the
repository list provided. For e.g., SBB Hindsight contains 4-5 different products for which each
product has a different process note so it is considered as different line items in our list. 64

Apart from the above cases, there are other additional 9 projects which are part of the list but
the same was not updated in the repository list.

The below table shows the observations with respect to the department.

Project name Department Name Remarks

Found by Knowledege hub no

AS PER REPOSITORY KH LIST
CRE Certificates / Audit details provided on this by
Operations

PIR No department name

Not confimed by any Department wise Project count
department head
11
6 Corporate Banking & Forex
Update provided by Praveen
FD Calling Recon Department 19
and not by department head
7 Retail Asset

As per data analystics this their Data Analytics

SBGOS MSME project but as per Praveen it is Certificates / Audit
in MSME 8
Service Recovery

As per data analytics this their Recon Department

CPU Dedupe Data Analytics project but as per Praveen it is Rural lending and Co-lending
in MSME 15
9 MSME
PD

9 No department name
10
 Understanding document
SOP or RBI circular

Not received 62 65

Received 23 20

SOP RBI

Note: in RMP RAR project only “Repeat” cases related SOP is received for all other products no SOP is received.

Either SOP
or RBI
Understanding Doc
circular
prepared
40 Docs in Axis system
No Relevant 45
cirular or Common Circular reference
SOP
received
 Process Note

Out of the total 85 active projects, there are only 48 projects for which the process note
are available and that are being shared with the knowledge hub by the respective
department head. Rest 37 process notes are either not prepared or not received by the
knowledge hub.

Following are the observations that are identified while reviewing the process note :

❑ Process notes are not updated on a timely basis.

❑ Even after providing basic guidance through comments for what content should be
mentioned same is yet not followed.
❑ Scope of work defined in the process note and the actual work process that we follow
are different in some of them.
❑ The details for the RBI circular or SOP it has been mentioned as “NA”
❑ Detailed process steps are directly started and neither background about the projects
nor any important terms definitions are mentioned.
❑ General observations that are encountered by the team during the work process
should be part of detailed steps same is missed out in the majority.
❑ In fraud triangle either the definitions of terms are mentioned or they are mentioned
as “NA”.
❑ Same with Audit assertions it contains the definitions and not mentioned how this
assertion will be applicable in that project and the required steps to be taken for
meeting the requirements of assertions.

Knowledge Hub has prepared a “Guidance on Process note review” for the basic
requirements before sending it for review.
 Process Note contd..
Grossly Wrong Audit Assertions Recommendations /
Value Additions

46%
60% 50% 50%
Yes 40% Gross errors
No Recommendations 54%
No Less Errors
Less Recommendations

WCGW/ Control points/ Fraud Triangle Lack of understanding in objective and scope/
Not in align with SLA

31% 29%

Gross errors
Less Errors Gross Errors 46%
54%
No errors Less Errors

40%
 SLA Master

SLA Master
Following are some major points that need to be complied with in the documentation with
respect to the engagements that we perform:

▪ Identification of the subject matter on which agreed-upon procedures will be performed.

▪ The nature, timing, and extent of the procedures to be performed, described in terms that 37%
are clear, not misleading, and not subject to varying interpretations.

▪ Acknowledgement of the relevant ethical requirements with which the practitioner will Available
comply in conducting the agreed-upon procedures engagements.
No information

63%
Observation :

• The pie diagram shows the % of SLAs that are available and has been properly maintained by
the accounts team.

• SLA master (Excel sheet) has not been updated by the team of approx. 54.% of the total
available.

• There are 26 projects for which SLA details are not available with the team.

• The scope of work mentioned in the process note and the scope mentioned in SLA are not
inline.
 Knowledge Hub Quality Check (KHQC)

Responsibility of Project Leader

• Ensure professional standards and regulatory and legal requirements.

• Ensure compliance of the team towards the firm’s policies and culture.

• Issuing of reports in appropriate circumstances to the client.

• Quality of the engagements.

Requirements

• Maintaining evidence of the observations

• Log of training conducted by the Project leader

• Methods of reviewing the work performed

• Documentation of mail logs for escalation as well as for appreciation.

• Bank’s Internal policy for doing the activity

Knowledge Hub will prepare the “KHQC report” for each of the projects after having a detailed review of the project.
Thank you