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Transforming Internal Audit with Analytics

Transforming Internal Audit with Analytics. Sundar Victor, Sr. Data Analytics Manager Rahul Sharma, Data Analytics Manager. About us Traditional Audit Processes Data Analytics Integrated Audit Process Advanced Analytics Tools. About US.

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Transforming Internal Audit with Analytics

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  1. Transforming Internal Audit with Analytics • Sundar Victor, Sr. Data Analytics Manager • Rahul Sharma, Data Analytics Manager

  2. About us • Traditional Audit Processes • Data Analytics Integrated Audit Process • Advanced Analytics Tools

  3. About US Rahul Sharma, CPA, is a health care Internal Audit Manager with Aetna. He is a dedicated, energetic and result-driven audit professional with over 8 experience and proven track record in conducting, managing and delivering analytics based audit and risk assurance projects within public and private sector. Prior to joining Aetna, Rahul worked as a risk assurance professional with PricewaterhouseCoopers and Deloitte where he led the teams focused on risk, compliance and process improvement providing services to automotive and healthcare clients in Mid-West market. Rahul is a CPA and graduated from University of Denver with Master of Business Administration (MBA). Sundar Victor is an analytics leader in Aetna's Internal Audit. He has extensive experience in implementing state of the art analytics solutions across various domains from Biomedical, Industrial & Insurance Industries. Lately his focus has been in applying analytics solutions in Internal Audit using Machine Learning, Natural Language processing and Robotics. He has been a change agent and leading the implementation of Data science techniques in Internal audit in Aetna and in GE. He is a hands on technical coach, digital/analytics leader, in the transformation of analytics in Internal Audit in Aetna

  4. Traditional Internal Audit Processes

  5. What is Internal Audit

  6. Traditional Audit Processes Risk Monitoring RiskAssessment Process Understanding Control Assessment Substantive Testing Audit Reporting

  7. Data Analytics Integrated Audit Process

  8. Aetna – IA Data Analytics Program Development Operations Continuous Audit

  9. Audit Planning & Reporting Applications Reports • Audit Plan Visualization • Resource Utilization • Audit Plan Status Report • Audit Dashboard Archer

  10. Transactional Testing • Whole population is tested rather than sample testing – usually in Millions • Higher assurance on accuracy and completeness • Integration of different analytics technology for automation – Tableau, R, Alteryx, Databases • Automation • Scheduling

  11. Process Understanding Diagnostic Analytics Descriptive Analytics • Rules Based • Predictive • Unsupervised • Risk Monitoring • Risk Scoring • ELI Dashboard • Summaries • Outlier Detection • Sankey Diagram • Text Analytics

  12. Process Understanding

  13. Process Understanding - ELI Robot Application:Automated - analytics Technique: Robotics, Analytics, Automation Aetna Examples: Appeals Audit, Sales Incentive, Kuwait Impact: Data Discovery & Insights in 15 – 20 minutes, save 20 - 30 FTE hours/project Tools: Alteryx and Tableau Robot

  14. Aetna – IA Data Analytics Program Development Operations Continuous Audit

  15. Text Mining Application:Information Extraction on Images Technique:Optical character Recognition, Machine Learning , Regex Aetna Examples: Appeals Audit Impact:32 letters incorrect receiving date, 1 has incorrect determination, 4 had incorrect member/provider name (1000) Tools:R, Omnipage, Alteryx Images

  16. Automation/Data Science/Reporting • Schedule to run the 2nd day of every month. Data runs a month behind because of the DW update schedule. E.g. 12/2/17 will run the month of November. • Extracts data automatically from source systems and analytics is executed. • Data Validation email issue with the data evaluation results (pass or fail). • Dashboard shows rolling 12-months data and include the details of the intended analysis. Operations Data Science/Automation/BI Data Management Risk Model (2 Tabs) T&E Rules Testing Supervised Model Top 200 Risky Transactions Data Acquisition Data Validation Risk Trend (1 Tab) Dashboard Unsupervised Model Archer (1Tab) Scripts/Scheduled Dashboard ELI (4Tabs) Auditor Evaluation

  17. Sundar Victor - victors@aetna.com • Rahul Sharma - SharmaR17@aetna.com

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