Key Roles & Responsibilities

1. Internal Audit Governance

- Develop and implement the annual risk-based Internal Audit Plan for approval by the Audit Committee.
- Ensure adequate audit coverage across all business units, branches, regional offices, corporate office, and support functions.
- Periodically review and update the audit universe based on emerging business risks.

2. Risk-Based Internal Audit

- Conduct risk-based audits covering:
- Branch Operations
- Credit Operations
- Retail Lending
- Project Finance
- Treasury Operations
- Information Technology
- Human Resources
- Finance & Accounts
- Recovery & Collections
- Procurement & Vendor Management
- Legal & Compliance

- Evaluate the effectiveness of internal controls and recommend improvements.

3. Internal Control Framework

- Assess the adequacy and effectiveness of internal financial controls.
- Evaluate operational controls, preventive controls, detective controls, and compensating controls.
- Recommend process improvements to strengthen internal control systems.

4. Regulatory Compliance

- Review compliance with applicable guidelines issued by:
- National Housing Bank (NHB)
- Reserve Bank of India (RBI)
- SEBI (where applicable)
- Companies Act, 2013
- Income Tax and GST laws
- Prevention of Money Laundering (PMLA) requirements
- Other applicable statutory and regulatory provisions.

5. Audit Execution

- Plan, supervise, and conduct internal audits in accordance with approved audit methodology.
- Review business transactions, documentation, approvals, and compliance with policies.
- Identify process gaps, control weaknesses, and operational risks.

6. Fraud Risk Management

- Identify fraud risks and control vulnerabilities.
- Conduct fraud investigations as assigned.
- Recommend corrective and preventive measures.
- Coordinate with Vigilance, Compliance, Legal, and HR,



wherever required.

7. Information Systems Audit

- Review IT controls, cybersecurity controls, and application controls.
- Conduct audits of digital lending platforms, HRMS, Loan Origination Systems (LOS), Loan Management Systems (LMS), Core Lending Systems, and other technology platforms.
- Review data security and access management controls.

8. Monitoring of Audit Observations

- Track compliance with audit observations.
- Monitor implementation of corrective actions.
- Validate closure of audit findings.
- Escalate long-pending observations to senior management and the Audit Committee.

9. Reporting

- Submit audit reports with risk ratings and recommendations.
- Present significant audit findings to:
- Audit Committee
- Managing Director & CEO
- Senior Management

- Highlight high-risk observations requiring immediate management attention.

10. Advisory Role

- Provide independent advice on strengthening internal controls.
- Participate in process improvement initiatives without compromising audit independence.
- Review new products, systems, and operational processes from a control perspective.

11. Enterprise Risk Coordination

- Coordinate with the Risk Management Department on enterprise risk assessment.
- Ensure audit plans are aligned with the Company's risk profile.
- Review emerging risks and recommend mitigation measures.

12. Branch Audit Oversight

- Ensure timely completion of branch audits.
- Review branch ratings and audit scores.




- Identify recurring operational issues and systemic weaknesses.
- Recommend corrective action plans for branches.

13. Quality Assurance

- Establish quality assurance standards for internal audits.
- Ensure audits are conducted in accordance with skilled standards and internal audit methodologies.
- Promote continuous improvement in audit practices.

14. Coordination with External Auditors

- Coordinate with Statutory Auditors, Concurrent Auditors, NHB/RBI Inspecting Officials, and other regulatory agencies.
- Facilitate audit reviews and ensure timely submission of information.

15. Team Leadership

- Lead and mentor the Internal Audit team.
- Develop audit competencies through training and knowledge-sharing initiatives.
- Promote ethical conduct, independence, and professional excellence within the audit function.

Key Deliverables

- Annual Risk-Based Internal Audit Plan
- Branch Audit Reports
- Corporate Office Audit Reports
- Information Systems Audit Reports
- Audit Committee Presentations
- Audit Observation Tracker
- Follow-up and Closure Reports
- Fraud Investigation Reports (where applicable)
- Internal Control Assessment Reports
- Regulatory Compliance Review Reports

Key Performance Indicators (KPIs)

- Achievement of the approved annual audit plan.
- Timeliness of audit report issuance.
- Percentage of audit observations closed within agreed timelines.
- Reduction in repeat audit observations.
- Improvement in branch audit ratings.
- Timely reporting of high-risk issues.
- Effectiveness of internal control recommendations.
- Compliance with regulatory and Audit Committee requirements.
- Stakeholder satisfaction with audit quality and reporting.
- Continuous enhancement of the audit framework and governance processes.

📌 Chief Audit Officer (Karnataka)
🏢 CanFin Homes
📍 Karnataka