Vice President - Internal Audit - Banking

Vice President Internal Audit is responsible for independently evaluating the effectiveness of the bank's internal controls, risk management, and governance processes.

Role ensures compliance with RBI regulations, internal policies, and global best practices.

Experience : 20 Plus years

Banking Audit is Mandatory

Key Responsibilities:

1. Audit Governance & Planning

- Develop and execute a risk-based internal audit plan in accordance with RBI guidelines (including RBI's Risk-Based Internal Audit (RBIA) framework).

- Ensure alignment of the audit function with the bank's overall risk management and compliance framework.

2. Regulatory Compliance

- Ensure adherence to RBI Circulars regarding internal audit structure and processes.

- Maintain oversight of compliance with various statutory and regulatory requirements.

- Coordinate with regulators and statutory auditors for audit inspections, findings, and closure of observations.

3. Leadership & Team Management

- Lead and manage the Internal Audit Department, ensuring independence, objectivity, and competence of the team.

- Drive a culture of continuous learning, quality assurance, and professional development in line with banking audit standards.

- Maintain organizational independence of the IAF, free from management interference.

4. Reporting & Communication

- Present audit reports and findings to the Audit Committee of the Board with clear risk ratings and actionable recommendations.

- Facilitate discussions between internal stakeholders and the Audit Committee.

- Track and report the status of audit recommendations and their closure.

5. Risk and Control Advisory

- Provide assurance and insights on internal controls, fraud risk, and emerging operational risks.

- Suggest improvements in internal processes to enhance governance and risk mitigation.