Head of Internal Audit

The candidate will have responsibilities across the following functions:

RBIA Framework and Audit Transformation:

• Build and operationalise RBIA aligned with the RBI circular.
• Transition audit from: Transaction testing, risk-based + process assurance, Periodic audits, continuous/real-time monitoring.
• Define audit universe across: Lending lifecycle (origination, underwriting, disbursement, collections), Capital markets linked exposure (LAMF / LAS), Fintech platforms & APIs.

Digital Lending and Fintech Risk Audits:

• Audit end-to-end digital journeys: Instant approvals, API integrations, KYC flows.
• Review: Algorithm-based underwriting/rule engines, Credit decision models (model risk), Data integrity, lineage, and governance.
• Conduct: ITGC, cybersecurity, and data access/control audits, Third-party/fintech partner audits.

Credit, Market and Collateral Risk Oversight:

• Audit: Loan Against Mutual Funds / Securities exposure, Margining, collateral valuation, liquidation triggers.
• Evaluate: Stress scenarios (market volatility impact), Concentration risk (FSG / wholesale exposure).
• Independently validate risk appetite vs actual risk-taking.

Enterprise Risk-Based Audit Planning:

• Develop dynamic risk assessment model incorporating: Portfolio growth & product expansion, New fintech integrations, Regulatory changes.
• Prepare annual + rolling audit plans.
• Use: Risk Control Matrices (RCMs), Internal Financial Controls (IFC) frameworks.

Governance, Regulatory and RBI Compliance:

• Ensure compliance with: RBI NBFC guidelines, Digital lending norms, Outsourcing & third-party risk regulations.
• Interface with: RBI inspections, Statutory and external auditors.
• Ensure strong documentation for regulatory scrutiny.

Continuous Monitoring and Analytics:

• Build data-driven audit capability: Exception dashboards, Early warning signals, Portfolio risk triggers.
• Implement tools (SQL / Power BI/audit analytics).
• Move toward real-time audit assurance models.

Audit Delivery and Board Reporting:

• Present to ACB: Risk heatmaps, emerging risks (fintech + market-linked), Persistent control gaps.
• Ensure: Actionable, insight-driven reporting; highlight unresolved high-risk observations consistently; business partnering.
• Act as a trusted advisor to leadership: Product launches, New partnerships (LSPs, fintechs).
• Ensure risk is embedded at design stage, not post-facto.

Team Leadership and Capability Building:

• Build a hybrid audit team: Financial auditors, Data analysts, IT / cyber audit specialists.
• Upskill team in: Digital lending ecosystems, Analytics-based auditing.

Requirements:

• 8+ years in: NBFC / Bank / Fintech internal audit.
• Must-have: Digital lending/fintech exposure, RBI compliance experience.
• Strong experience in: Risk-based auditing, IT/data analytics audits.