About the Role:

We are seeking an experienced and detail-oriented Lead Auditor to strengthen the Internal Audit function of the organization. The role will be responsible for leading risk-based audits across business operations, underwriting, claims, finance, distribution, customer service, compliance, and corporate functions while ensuring adherence to regulatory and governance standards.

The ideal candidate should possess strong knowledge of insurance operations, risk management frameworks, internal controls, regulatory requirements, and audit methodologies.

Key Responsibilities:

Internal Audit & Assurance:

- Lead and execute risk-based internal audits across various business functions and processes.

- Develop audit scope, audit programs, testing procedures, and audit work papers.

- Evaluate the adequacy and effectiveness of internal controls, governance processes, and risk management frameworks.

- Perform operational, financial, compliance, and process audits.

- Conduct thematic and special audits as directed by senior management or the Audit Committee.

Risk & Control Assessment:

- Identify key business risks and control gaps across underwriting, claims, finance, investments, reinsurance, distribution, and support functions.

- Assess the design and operating effectiveness of internal controls.

- Recommend practical and value-added solutions to strengthen the control environment.

- Monitor implementation of audit recommendations and remediation plans.

Insurance Operations Audit:

- Review and assess:

1. Underwriting processes and controls

2. Claims management and settlement processes

3. Policy administration processes

4. Agency and broker management controls

5. Reinsurance operations

6. Customer servicing operations

7. Regulatory compliance processes

Regulatory & Compliance Audits:

- Ensure compliance with applicable IRDAI regulations, corporate governance guidelines, and internal policies.

- Conduct audits covering anti-money laundering (AML), fraud risk management, customer protection guidelines, and regulatory reporting requirements.

- Review adherence to statutory and regulatory obligations.

Reporting & Stakeholder Management:

- Prepare clear, concise, and actionable audit reports.

- Present audit findings, risk observations, and recommendations to senior management.

- Engage with business leaders to discuss audit observations and remediation plans.

- Support Audit Committee reporting and governance requirements.

Continuous Improvement:

- Contribute to enhancement of audit methodologies, risk assessment frameworks, and audit analytics.

- Identify opportunities for process improvements and operational efficiencies.

- Promote best practices in governance, risk management, and internal controls.

Required Qualifications:

- Chartered Accountant (CA), CIA, CPA, CMA, MBA Finance, or equivalent professional qualification.

- 1015 years of experience in Internal Audit, Risk Advisory, Assurance, or Controls Review.

- Experience within Insurance, Financial Services, Banking, NBFC, or Big 4 consulting firms preferred.