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Credit Risk Audit Program

Credit Risk Audit Program Template for Malaysia

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Key Requirements PROMPT example:

Credit Risk Audit Program

"I need a Credit Risk Audit Program for a Malaysian Islamic bank that specializes in digital lending platforms, with specific focus on Shariah compliance and automated credit scoring systems to be implemented by March 2025."

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Document background
The Credit Risk Audit Program is essential for financial institutions operating in Malaysia to maintain effective oversight of their credit risk management practices. This document becomes necessary when institutions need to establish or update their credit risk audit methodology in compliance with Bank Negara Malaysia's guidelines and the Financial Services Act 2013. It provides a structured approach to evaluating credit portfolios, assessing underwriting standards, reviewing credit administration processes, and ensuring regulatory compliance. The program is designed to accommodate both conventional and Islamic banking operations, incorporating relevant Shariah compliance aspects where applicable. It includes comprehensive audit procedures, sampling methodologies, reporting templates, and quality assurance mechanisms tailored to the Malaysian regulatory environment.
Suggested Sections

1. 1. Purpose and Scope: Defines the objectives of the credit risk audit program and its scope of coverage

2. 2. Authority and Responsibilities: Outlines the audit team's authority and key stakeholders' responsibilities

3. 3. Risk Assessment Framework: Details the methodology for assessing credit risk and determining audit frequency

4. 4. Core Audit Areas: Identifies mandatory areas for review including credit policies, underwriting standards, and portfolio management

5. 5. Audit Methodology: Describes the standard audit procedures, sampling methods, and testing approaches

6. 6. Documentation Requirements: Specifies required documentation for audit working papers and evidence

7. 7. Reporting Framework: Details the structure and timing of audit reports and follow-up procedures

8. 8. Quality Assurance: Outlines quality control measures for the audit process

9. 9. Regulatory Compliance: Addresses compliance with relevant Malaysian banking regulations and BNM requirements

Optional Sections

1. Specialized Lending Reviews: Additional procedures for specialized lending products (include if institution offers project finance, commodity finance, etc.)

2. Islamic Banking Considerations: Specific requirements for Shariah-compliant credit products (include if institution offers Islamic banking services)

3. Digital Lending Assessment: Procedures for reviewing digital lending platforms and algorithms (include if institution offers digital lending products)

4. Cross-border Lending: Additional requirements for international credit exposure (include if institution has significant cross-border operations)

5. SME Lending Procedures: Specific considerations for SME credit assessment (include if institution has significant SME portfolio)

Suggested Schedules

1. Appendix A: Audit Planning Templates: Standard templates for audit planning and risk assessment

2. Appendix B: Sampling Methodology: Detailed guidance on sampling techniques and sample size determination

3. Appendix C: Credit Review Checklists: Comprehensive checklists for different types of credit facilities

4. Appendix D: Report Templates: Standardized templates for audit reports and management responses

5. Appendix E: Risk Rating Matrix: Criteria and methodology for risk rating assignments

6. Appendix F: Regulatory Requirements: Summary of relevant BNM regulations and compliance requirements

7. Appendix G: Exception Tracking Template: Template for monitoring and tracking audit exceptions and their resolution

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



































Clauses

























Relevant Industries

Banking

Financial Services

Insurance

Investment Management

Islamic Banking

Microfinance

Development Finance

Credit Unions

Fintech

Asset Management

Relevant Teams

Internal Audit

Risk Management

Credit Operations

Compliance

Quality Assurance

Credit Administration

Portfolio Management

Legal

Operations

Credit Review

Relevant Roles

Chief Risk Officer

Head of Internal Audit

Credit Risk Manager

Internal Audit Manager

Compliance Officer

Risk Assessment Specialist

Credit Portfolio Manager

Senior Auditor

Credit Review Officer

Audit Committee Chairman

Chief Internal Auditor

Risk Control Officer

Credit Operations Manager

Quality Assurance Manager

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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