Location: Bengaluru

Experience: 10 - 18 years post qualification

Compensation: ₹40–50 lakh per annum

Team Size - 2-3

Role Overview

We are hiring a senior Internal Audit professional for a growing life insurance company. The role will lead the Internal Audit function, develop the risk-based audit plan, strengthen controls and governance, and work closely with senior management and the Audit Committee.

This could be a robust first-time Head opportunity for an experienced insurance audit qualified.

Key Responsibilities

- Develop and execute the annual risk-based Internal Audit plan in line with IRDAI’s Corporate Governance framework.
- Provide independent assurance to the Audit Committee on the effectiveness of governance, risk management and internal controls.
- Assess compliance with applicable IRDAI regulations, master circulars and regulatory directions.
- Lead audits covering underwriting, claims, policy servicing, distribution, reinsurance, investments, policyholder funds and actuarial-finance processes.
- Review compliance with policyholder-protection requirements, including sales practices, grievance redressal, claims settlement and prevention of mis-selling.
- Audit expenses of management, commissions and distributor payments against applicable regulatory limits and internal policies.
- Review investment controls, asset–liability management, solvency-related processes and segregation of policyholder and shareholder funds.
- Assess AML/KYC, outsourcing, data protection, information security, cyber-risk and business-continuity controls.




- Support regulatory inspections, review regulatory submissions and monitor closure of IRDAI observations and audit findings.
- Present significant findings, emerging risks and overdue remediation actions to senior management and the Audit Committee.

Candidate Profile
- Chartered Accountant or equivalent professional qualification.
- Strong experience auditing Life Insurance companies.
- Good understanding of IRDAI regulations, insurance operations, governance and risk-based auditing.
- Experience managing audit teams and senior business stakeholders.
- Ability to operate independently and establish a credible Internal Audit function.

Relevant Backgrounds
- Internal Audit leaders from life insurance companies at Chief Manager, Senior Manager, AGM, DGM, AVP or Deputy Head level.
- Senior Managers/Associate Directors from Big 4 and other audit/advisory firms who have led internal audit, risk assurance, controls or external audit engagements for life insurance clients.
- General insurance candidates may also be considered, provided they have solid regulatory audit experience and exposure to investments or policyholder-fund audits.

Interested candidates may share their CV along with current compensation, notice period and willingness to relocate to Bengaluru.

Pay: ₹4,000,000.00 - ₹5,000,000.00 per year

Benefits

- Cell phone reimbursement
- Food provided
- Health insurance
- Internet reimbursement
- Leave encashment
- Life insurance
- Provident Fund

Work Location: In person

📌 Head of Internal Audit (Bengaluru)
🏢 Client of Apprenti
📍 Bengaluru