Annual Rep. 2008-09.pmd - The New India Assurance Co. Ltd.

efo v³et Fefv[³ee SM³eesjvme kebÀ. efue.The New India Assurance Co. Ltd.Estbd. 1919Directors’ Reporttraining programme for its employees in order to bridge the knowledge-gap arising out of the newlyimplemented core insurance system in a number of branches.XVIII. VIGILANCE ACTIVITIESThe Vigilance Department comprises of the CVO (GM), the Chief Manager and Vigilance Officers atHead Office and Vigilance Officers posted in all the Regional Offices.The focus of Vigilance is prevention of frauds by preventive and proactive actions and punitive action inmatter of frauds detected and system lapses.During 2008-09 the Vigilance Officers conducted 106 surprise inspections. This is an effectivetool for detecting irregularities / system lapses committed at operational levels and particularlyhelpful for the BM s / DM s for understanding the importance of control and supervision and identifythe weak areas.During the year 26 Awareness Programmes were conducted at RO and DO levels to create betterunderstanding of Vigilance. Newly recruited Vigilance Officers have attended training for betterunderstanding of procedures of disciplinary proceedings and investigation.Training Programmes are held at Corporate Training College to include preventive vigilance in varioustraining modules and Awareness Programmes are conducted at Regional Offices and Divisional Officeslevels.Thus the sole purpose of Vigilance Department is to make employees focus on and accept ‘Vigilance’as an organisational objective, to create an atmosphere conducive to “Zero – corruption” functioningwith role clarity and clear sense of direction.XIX. INTERNAL AUDITKeeping in tune with the last two years practice that has yielded good results, the Internal AuditDepartment has continued its thrust in directing and rectifying Systems and Procedural Lapses enhancingthe performance of Audit Compliance Cells at various operating offices for faster resolution of pendingaudit queries – both internal and CAG.As directed by the Board of Directors, each and every Board and CMD Level query was examinedage-wise, cause-wise and reasons for their pendency and the feedback for the same presented to theDirectors. Great thrust was given to clear old pending queries while the new ones too were attendedsimultaneously.With the help of HO, Internal Audit Officials and Executives from HO – 12 Audit Workshops wereconducted during the year, which has substantially helped in resolving difficult queries and in theprocess, the number of pending queries have come down to great extent. Much emphasis was placedon pending employee recovery cases. Consequent upon this the recoveries from employees melted outthis year significantly and almost became negligible. In coordination with CAG, two Zonal Workshopswere conducted at Chennai and Mumbai RO III for compliance of queries and the outcome wasextremely encouraging.22