Inspector Gold Loan

I. KEY DUTIES & RESPONSIBILITIES OF THE ROLE

• Business:

• Conducting and completion of Gold Audit for a branch within the timelines and TAT as per the policy

• Undertake Gold Inspection as per the calendar within the target time
• Responsible for carrying out Gold audit in various areas / activities of Bank branches
• Verify the quality, quantity and inventory of pledged gold without damaging the gold ornaments
• Conduct valuation and verification of gold ornaments with respect to weight, purity & Detect spurious, low purity gold and frauds to mitigate the risk
• Executing gold audit by following the process as prescribed
• Prepare Gold inspection report for review and release reports within timelines
• Emphasis on quality of Gold valuation and report writing
• Discussion of Gold Audit findings with Branch Managers
• Submission of Gold inspection report to reviewer for review
• Follow up for necessary action based on the observation
• To verify the earlier inspection report and its compliance/closure

• To verify whether there are any lapses in security and safety of the branch and assets

• Internal Process

• Quality of Inspecting gold and report writing covering of all loopholes
• Check purity of Gold ornaments and basic operational check like CCTV functioning, custodian availability during appraisal and data entry as per LOS and estimation slip.
• Check authenticity of transactions and adherence to systems and procedures by scrutinizing the transactions put through the relevant inspection period including handling ornaments
• Verify the records and registers to ascertain whether there is any lapses/discrepancy in maintaining such records
• Report to be submitted in the format prescribed, complete in all aspects with clear findings
• Timely accurate concise and effective documentation of gold loan inspection reports
• Response to queries /MIS and monthly reports within TAT
• To report any discrepancies without favour, not leaving out even seemingly minor irregularities as they may lead to serious irregularity in future
• Identify the probable threats and recommend solutions
• Verify/inspect safe room operations, security measures, day to day working of branch

• Ensure proper documentation is maintained for each loan and record is maintained after the verification

• Customer

• Coordinate with Business team, Branch team, Credit Team and Operations team for matters relating to Gold Loan
• Ensure timely response to any clarifications regarding Gold inspection
• Actively participate in Product, Credit or IT discussions
• Co-ordinate with Gold Loan Appraiser for any clarification if any
• Provide feedback on the training provided by Gold loan Trainers

• Send all reports/MIS on time to the concerned department

• Learning and Development

• Awareness on Regulatory guidelines with respect to Gold Loan
• Continuous market awareness e.g. if a group of persons or a suspected gang is operating in an area, the concerned risk factors to be studied in detail and alerted in order to avert possible losses
• Keep abreast of the changes in the industry and recommend suitable changes to management on Gold Inspection process or Gold Loan Risks
• Updating self on various regulatory compliances and circulars issued by RBI
• Updating self on various internal procedures, processes and new products introduced
• Improve the existing process to overcome the probable risk

• Adhering to high ethical standards and comply with all the laid down processes / policies

• Other Initiatives

• Undertake some special assignments regarding gold loan product
• Automate any Gold Inspection processes and reports

Interested can share your updated resume on