Head - Internal Audit - NBFC - CA

Position Title: Head - Internal Audit

Location: Mumbai

Reports to: Chief Risk Officer

About Client:

Client is a non-deposit accepting, Systemically Important Non-Banking Financial Company registered with the Reserve Bank of India. It is jointly owned by a leading Private Bank and its promoters.

We are into lending business offering Loan against Securities, Loan against Property and Corporate Real Estate.

Overview:

The candidate will head the internal audit function with a strong focus on risk-based auditing within our NBFC. This role requires a deep understanding of risk management, internal controls, and regulatory compliance. The ideal candidate will develop and execute a comprehensive audit strategy that enhances governance, mitigates risks, and drives operational efficiency across the organization.

Key Responsibilities:

Risk-Based Audit Strategy:

- Design and implement a risk-based internal audit framework that aligns with the Company's objectives and regulatory requirements.

- Conduct regular risk assessments to identify areas of high risk and prioritize audit activities accordingly.

Leadership and Team Development:

- Over the years lead, mentor, and develop the internal audit team, promoting a culture of excellence and continuous learning.

- Foster an environment that encourages collaboration and innovation within the audit function.

Audit Planning and Execution:

- Oversee the development of the annual audit plan, ensuring it reflects the organization's risk profile and strategic goals.

- Direct and manage the execution of audits, ensuring adherence to established audit methodologies and standards.

- Take charge of internal audit currently being carried out by an external firm, review scope, timelines and deliverables and make changes if necessary.

Reporting and Communication:

- Prepare comprehensive audit reports that effectively communicate findings, insights, and recommendations to senior management and the board.

- Present audit results to stakeholders, highlighting risk areas and recommending actions for improvement.

Compliance and Regulatory Oversight:

- Ensure compliance with applicable laws, regulations, and internal policies, with a focus on regulatory requirements specific to NBFCs.

- Collaborate with external auditors and regulatory agencies to ensure a cohesive audit approach.

Continuous Improvement:

- Identify opportunities for enhancing internal controls, processes, and overall operational efficiency.

- Implement best practices in risk management and internal auditing to strengthen the organization's governance framework.

Stakeholder Engagement:

- Build and maintain strong relationships with key stakeholders, including management, compliance, and risk management teams.

- Serve as a trusted advisor to senior leadership on internal audit and risk management matters.

Training and Awareness:

- Provide training and guidance to staff on risk-based audit practices and internal controls.

- Promote awareness of internal audit processes and the importance of risk management throughout the organization.

Qualifications:

- Chartered Accountant

- Minimum of 7 years of experience in internal audit with a strong focus on risk-based auditing, preferably within the financial services sector or an NBFC.

- In-depth knowledge of risk management frameworks, internal control principles, and regulatory requirements affecting NBFCs.