Lead - Internal Audit Head

About Company:

The company is a financial services firm specializing in lending, credit, and other financing solutions for individuals and businesses.

Job Description:

Key Responsibilities:

1. Regulatory Compliance Monitoring

• Monitor RBI circulars, notifications, master directions, guidelines, and other regulatory developments applicable to NBFCs.

• Assess the impact of new and amended regulations on various business functions.

• Ensure regulatory requirements are incorporated into internal policies, SOPs, and operational processes.

• Maintain a repository of applicable regulatory requirements and compliance obligations.

2. Compliance Audit

• Develop and execute a risk-based Regulatory Compliance Audit Plan.

• Conduct periodic audits across business functions

• Evaluate adherence to RBI regulations, internal policies, board-approved frameworks, and statutory requirements.

• Perform thematic and focused reviews based on regulatory risks.

3. Gap Assessment & Reporting

• Identify regulatory non-compliances, control weaknesses, and process gaps.

• Conduct root cause analysis for audit observations.

• Prepare detailed audit reports highlighting:

o Nature of non-compliance

o Regulatory reference

o Business impact

o Risk rating

o Corrective action recommendations

• Present findings to senior management and relevant stakeholders.

4. Corrective Action Tracking

• Work closely with business and functional teams to implement corrective actions.

• Monitor progress against agreed action plans.

• Validate closure of audit observations through follow-up reviews.

• Escalate unresolved or overdue observations to management.

5. Regulatory Advisory

• Provide guidance to business teams on interpretation and implementation of RBI regulations.

• Participate in policy reviews to ensure regulatory alignment.

• Support departments during regulatory inspections and internal/external audits.

6. Risk Management

• Identify emerging regulatory risks.

• Recommend preventive controls and process improvements.

• Strengthen the organization's compliance culture through proactive reviews.

7. Stakeholder Management

• Collaborate with business heads, compliance, legal, risk, finance, operations, and IT teams.

• Build strong working relationships to facilitate timely implementation of audit recommendations.

8. Documentation & Governance

• Maintain comprehensive documentation of audit working papers, evidence, reports, and compliance trackers.

• Prepare periodic MIS and dashboards for management and Board-level committees.

• Ensure audit documentation meets regulatory and internal quality standards.

Required Qualifications:

• Chartered Accountant (CA), MBA (Finance), Company Secretary (CS), CMA, LLB, or equivalent professional qualification.

• Certification in Internal Audit, Risk Management, Compliance, or Regulatory Auditing will be an added advantage.

Experience:

• 8–12 years of experience in NBFCs, Banks, Financial Institutions, or Audit/Consulting firms.

• Minimum 5 years of experience in Regulatory Compliance.

• Hands-on experience in auditing RBI regulatory compliance for NBFCs.

• Experience in interacting with regulators, auditors, and senior management is preferred.