Agile Internal Auditors in a VUCA Environment - Finance / Audit

Overview

Objective & Outline

Methodology

Participant Profile

Trainer

Overview

HRDC PROG NO
10001384411

When

Programme is only available for in-house

Where

Asian Banking School

LEARNING LEVEL

Intermediate

Programme Fee*

MYR 2,700

*Subject to 8% Service Tax per pax

The banking landscape is undergoing rapid transformation, driven by technological advancements, evolving customer expectations, and increasing regulatory pressures.

This demands a new breed of internal auditors equipped to navigate the complexities of the VUCA (Volatile, Uncertain, Complex, Ambiguous) world. This two-day programme equips the participants with the knowledge, skills, and mindset to foster a future-proof internal audit function, aligned with the organisation's strategic goals and contributing significantly to its success.

Programme Outline

Learning Objectives

By the end of the programme, participants will be able to:

Navigate the ABCDI landscape
Developing psychologically safe teams
Adapt to the evolving audit landscape
Align internal audit with business strategy

Programme Outline

Module 1: Navigating the ABCDI Landscape
In today's dynamic banking environment, staying ahead of the curve is crucial for both traditional institutions and new players. This module equips you, as an internal auditor, with the knowledge and understanding necessary to navigate the ever-changing landscape and ensure your function remains relevant and impactful.

Impact of ABCDI on Internal Audit: Explore how Artificial Intelligence (AI), Blockchain, Cloud Computing, Data Analytics, and the Internet of Things (IoT) are reshaping the audit landscape. Understand their potential applications for enhanced risk assessment, continuous monitoring, and data-driven insights.
Rise of Challenger Banks and Neo Banks: Analyse the competitive threats posed by these agile players and learn how incumbent banks are leveraging technology and innovation to compete effectively.
Module 2: Developing Psychologically Safe Teams: Explore strategies to build trust, encourage open communication, and promote learning from mistakes within your internal audit function.
In today's dynamic and competitive banking environment, fostering a culture of psychological safety within your internal audit function is no longer optional, it's essential. This module equips you, as an internal audit leader, with the tools and strategies to create a safe space for experimentation, encourage risk-taking, and cultivate a growth mindset within your team. By fostering psychological safety and collaboration, you can unlock your team's full potential and ensure your internal audit function plays a vital role in driving success.

Leadership Role in Cultural Transformation: Learn how to create a safe space for experimentation, encourage risk-taking, and build a growth mindset within your internal audit team. Understand how your leadership style can foster psychological safety and collaboration.
DBS Bank: Building a Culture of Psychological Safety (Internal Audit Focus). Deep dive into DBS Bank's journey from "Damn Bloody Slow" to a top digital bank. Analyse how their leadership transformed the culture and identify key lessons applicable to your own context. Prior to its transformation, DBS Bank's internal audit function was known for its rigid, hierarchical structure and risk-averse culture. This stifled innovation, discouraged open communication, and hindered the team's ability to adapt to the rapidly evolving landscape of the banking industry.
Module 3: Thriving in the Digital Age: Evolving Roles and Skills for Bank Internal Auditors
The banking landscape is being reshaped by rapid technological advancements, evolving customer expectations, and ever-increasing regulatory complexities. This demands internal audit functions to adapt and evolve to remain relevant and add value in this dynamic environment. This module equips you, as an internal auditor, with the knowledge and skills needed to thrive in the digital age and contribute significantly to your bank's success.

Blockbuster vs. Netflix Case Study: Learn from the contrasting fortunes of these companies to understand the critical role of innovation and agility in today's business environment. Analyse how internal audit functions can contribute to strategic decision-making.
Emerging Roles and Skills for Internal Auditors: Identify the technical and soft skills required for success in the digital age, focusing on data analysis, critical thinking, automation, and collaboration.
Reskilling and Upskilling Strategies: Develop a roadmap for continuous learning and development within your internal audit team to ensure they remain future-proof and equipped to address emerging risks.
Module 4: Partnering for Progress: Aligning Internal Audit with Bank Strategy
Gone are the days when internal audit operated in isolation. In today's dynamic banking landscape, success hinges on strategic alignment with your bank's overall goals and risk management priorities. This module empowers you, as an internal auditor, to transform your function into a valuable partner, contributing meaningfully to your bank's journey towards progress.

OCBC Bank's Design Thinking Success: Explore how OCBC captured a significant market share by understanding their customers' needs and applying innovative approaches. Learn how internal audit can leverage design thinking to improve their own practices.
Mapping Internal Audit to Strategic Objectives: A VUCA-Ready Framework for Digital Banking. In the dynamic and unpredictable landscape of digital banking, ensuring your internal audit function is aligned with the organisation's strategic goals and risk management priorities is vital. This framework empowers you to navigate the VUCA environment and contribute meaningfully to your bank's success.

METHODOLOGY

Lecture, case studies, quizzes, Kahoot, slides, videos and group assignments

Participant profile

Internal Auditors

Trainer

Dr Paramsothy Vijayan

Director of Graduate Training & FSTEP, Asian Banking School

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Dr Paramsothy Vijayan

Director of Graduate Training & FSTEP, Asian Banking School

Dr Vijayan Paramsothy the Director of Graduate Training & FSTEP at the Asian Banking School. He started his career working in one of the big 8 Chartered Accountants and Management Consultancy firms in the UK. He has over 20 years of banking experience working in local and foreign banks up to a senior management level, ranging over a diverse range of disciplines.

He is currently involved in structuring bespoke technical and soft skill programmes for banks. In addition, he is involved in the curriculum working committee for professional qualification programmes such as the Chartered Banker and Bank Risk Management. He is also a designated Chartered Banker trainer, bringing a fresh approach to self-directed learning using mind-mapping techniques, case studies and problem-based learning. Dr Vijay has published banking and finance related text books and journal articles internationally, including, “Success Factors for the Implementation of Entrepreneurial Knowledge Management in Malaysian Banks” (Journal of Information & Knowledge Management, 2013).

Dr Vijay holds an Honours Degree in Accounting and Finance from Scotland, a Master of Science Degree in Multimedia Technology (Banking), a Doctor of Business Administration (Banking Strategy and Marketing) from Australia, and a Doctor of Philosophy (Knowledge Management in Banking) from Malaysia. He recently successfully completed his Chartered Banker MBA from the Bangor Business School. He is also a Certified Training Professional (ARTDO) and a Certified HRD Corp trainer.