Job Description – Internal Audit | BankingPosition

Manager / Assistant Manager – Internal Audit (Banking)

Location : Mumbai

Experience : 3–8 years of relevant experience in Internal Audit / Risk & Compliance / Banking Audit, preferably with experience in Retail Assets, Retail Liabilities, Corporate Banking and/or Digital Banking.

Role Overview

We are looking for an experienced professional to join our Internal Audit – Banking team. The candidate will be responsible for conducting risk-based internal audits of banking operations, identifying control gaps, evaluating process effectiveness, and providing practical recommendations to strengthen the overall control environment.

Key Responsibilities

1. Retail Assets

- Conduct internal audits of retail lending portfolios including Home Loans, LAP, Personal Loans, Auto Loans, Consumer Loans and other retail credit products.
- Review the complete loan lifecycle covering sourcing, credit appraisal, sanction, documentation, disbursement, monitoring and closure.
- Verify compliance with internal credit policies, RBI guidelines and applicable regulatory requirements.
- Review KYC, CIBIL/credit assessment, income verification, collateral/security documentation and sanction conditions.
- Identify exceptions relating to documentation, underwriting, approval authority and post-disbursement monitoring.
- Review asset classification, overdue monitoring, SMA/NPA identification and recovery processes.

2. Retail Liabilities

- Conduct audits of Savings Accounts, Current Accounts, Term Deposits and other liability products.
- Review account opening, KYC/AML compliance, customer onboarding and transaction monitoring.
- Verify compliance with account opening and customer due-diligence procedures.
- Review dormant/inoperative accounts, account closure, nomination,



interest calculation and charges.
- Identify operational and process-level control gaps and recommend corrective measures.

3. Corporate Banking

- Conduct audits of corporate lending and banking operations.
- Review working capital limits, term loans, consortium/multiple banking arrangements and other corporate credit facilities.
- Evaluate credit appraisal, sanction, documentation, disbursement and monitoring processes.
- Review drawing power, stock statements, financial covenants, security creation and renewal of limits.
- Assess compliance with delegated authority and internal credit policies.
- Review early warning signals, stressed accounts and monitoring mechanisms.

4. Digital Banking

- Conduct internal audits of digital banking channels and processes, including Internet Banking, Mobile Banking, UPI, digital onboarding and other electronic banking services.
- Review controls around digital customer onboarding, authentication, transaction processing and access management.
- Evaluate controls relating to cybersecurity, user access, maker-checker controls, transaction limits and exception monitoring.
- Review digital lending processes, where applicable.
- Identify operational, technology and information-security risks and assess the effectiveness of mitigating controls.

Audit & Reporting Responsibilities

- Prepare audit plans, process understanding documents, Risk & Control Matrices (RCMs)



and audit checklists.
- Perform walkthroughs, sample testing and substantive verification of transactions and controls.
- Identify control weaknesses, process deviations and regulatory non-compliances.
- Discuss audit observations with process owners and obtain management responses.
- Prepare detailed Internal Audit Reports highlighting observations, risk implications and recommendations.
- Track implementation of agreed corrective actions and conduct follow-up reviews.
- Present significant observations and audit findings to senior management / Partners.
- Coordinate with clients and audit teams during the entire audit lifecycle.

Required Skills

- Strong understanding of Banking Operations and Internal Audit.
- Practical knowledge of RBI guidelines, KYC/AML, credit processes and banking controls.
- Experience in one or more of Retail Assets, Retail Liabilities, Corporate Banking or Digital Banking.
- Strong analytical, documentation and report-writing skills.
- Positive communication and stakeholder-management skills.
- Proficiency in MS Excel and MS Office.
- Ability to independently manage audit assignments and interact with client/process owners.

Qualification

- CA / CA Inter / MBA Finance / CISA / CIA / Graduate/Postgraduate in Finance or related discipline.
- Candidates with relevant banking internal audit experience will be preferred.

Preferred Profile

Candidates having hands-on experience in Internal Audit / Concurrent Audit / Risk-Based Internal Audit of Banks, NBFCs or Financial Institutions, particularly across Retail Assets, Retail Liabilities, Corporate Banking and Digital Banking, will be preferred.

Pay: ₹240,000.00 - ₹600,000.00 per year

Work Location: In person

📌 Executive | Senior Executive - Internal Audit - Banks (Mumbai)
🏢 Bhuta ShahLLP
📍 Mumbai