Sr. Audit Retail Liabilities Product.
To execute risk-based audits and thematic reviews of the Bank's liability products portfolio and provide independent assurance on product governance, regulatory compliance, customer conduct, risk management, pricing and fee governance, and product lifecycle controls. The role is responsible for audit fieldwork, control testing, issue identification, root-cause analysis, and development of high-quality audit observations.
Job Responsibilities
Actionables
Audit Execution
- Execute audits in accordance with approved audit plans, audit programmes, and Internal Audit methodology.
- Assess adequacy and effectiveness of controls governing liability products and related processes.
- Perform walkthroughs, control testing, sample reviews, and validation procedures.
- Evaluate compliance with regulatory requirements, internal policies, and governance standards.
- Ensure timely completion of assigned audit activities.
Thematic Reviews
- Participate in thematic reviews covering emerging risks, customer conduct, regulatory developments, product governance, and recurring control weaknesses.
- Analyse customer complaints, regulatory observations, incidents, audit findings, and risk indicators.
- Identify systemic risks and recurring control gaps.
- Support development of sustainable control improvement recommendations.
Audit Observations & Reporting
- Identify governance, compliance, conduct, and control deficiencies.
- Perform root-cause analysis and assess associated business, regulatory, operational, and reputational risks.
- Draft clear, concise, and evidence-based audit observations.
- Support preparation of audit reports and management discussion materials.
Issue Validation & Follow-Up
- Validate implementation of agreed corrective actions.
- Assess adequacy and sustainability of remediation measures.
- Review closure evidence submitted by auditees.
- Escalate delays, recurring issues, and ineffective remediation actions.
Stakeholder Coordination
- Liaise with Product, Business, Operations, Compliance, Risk Management, Finance, and Technology teams during audit assignments.
- Obtain information, documents, and evidence required for audit testing.
- Discuss preliminary observations and clarify audit issues with stakeholders.
- Maintain effective and skilled working relationships.
Audit Quality & Continuous Improvement
- Maintain complete and accurate audit workpapers.
- Ensure compliance with Internal Audit methodology and documentation standards.
- Support thematic risk assessments and data-driven audit reviews.
- Contribute to continuous improvement of audit practices and testing approaches.
Educational Qualifications
Key Skills
Essential:
CA / MBA (Finance) / CFA / FRM / CIA / CISA or equivalent professional qualification.
Preferred:
CRMA / CFE / Certifications in Audit, Risk Management, Compliance, Banking Products, or Governance..
Technical Skills
- Risk-Based Auditing
- Liability Products & Product Governance
- Regulatory Compliance
- Audit Testing & Root Cause Analysis
- Audit Reporting & Data Analytics
Behavioural Skills
- Analytical Thinking
- Professional Skepticism
- Attention to Detail
- Communication Skills
- Collaboration & Teamwork
Experience Required
- Strong experience in Internal Audit, Risk Management, Compliance, Product Governance, Banking Operations, or related assurance functions within a bank or financial institution.
- Exposure to liability products, customer conduct risk, regulatory compliance, product governance, or risk management frameworks.
- Experience in audit execution, control testing, and observation drafting.
- Exposure to thematic reviews and audit analytics will be an advantage.
Key Performance Indicators:
- Timely completion of assigned audit work.
- Quality of audit testing and documentation.
- Quality and relevance of audit observations.
- Identification of material risks and control gaps.
- Adherence to audit methodology and quality standards.
- Effectiveness of issue validation and follow-up.
📌 Senior Internal Auditor (Mumbai)
🏢 HDFC
📍 Mumbai