Role & Responsibilities:

A. Internal Audit Strategy and Planning

1. Develop an annual risk-based Internal Audit plan covering all significant functions, processes, products and locations.
2. Prepare and maintain an auditable universe covering Head Office departments, branches, technology systems and key outsourced activities.
3. Conduct periodic risk assessments to determine audit scope, frequency and resource allocation.
4. Present the annual Internal Audit plan, methodology and resource requirements to the Audit Committee for approval.
5. Ensure audit coverage is aligned with regulatory requirements, emerging risks and business developments.
6. Establish audit manuals, checklists, Standard Operating Procedures, working paper standards and quality assurance mechanisms.

B. Head Office Internal Audit Conduct comprehensive audits of the following functions, based on the approved risk-based plan:

1. Finance and Accounts, including financial reporting, reconciliations, provisions, expenses and internal financial controls.
2. Treasury, borrowing arrangements, liquidity management and Asset Liability Management processes.
3. Credit underwriting, sanctioning, documentation and credit administration.
4. Business sourcing, product implementation, disbursements and loan servicing.
5. Collections, recovery, settlements, write-offs and recovery agency management.
6. Human Resources, payroll, employee perks and administration.
7. Procurement, vendor management, fixed assets and contractual controls.
8. Compliance, regulatory reporting and implementation of applicable policies.
9. Customer grievance redressal, fair practices and customer protection.
10. Information Technology, information security and technology outsourcing controls, in coordination with suitably qualified specialists.

C. Branch Internal Audit

1. Develop and implement a comprehensive branch audit framework.
2. Establish risk-based branch audit frequency and audit scheduling.
3. Review loan origination, customer identification, documentation, disbursement and collection processes.
4. Verify adherence to approved credit policies, operational procedures and delegated authorities.
5.



Examine cash handling, customer receipts, reconciliations and financial controls.
6. Conduct customer-level verification, field visits and sample-based loan account checks where appropriate.
7. Identify irregularities, process weaknesses, employee misconduct indicators and potential fraud risks.
8. Monitor branch-level audit ratings, recurring observations and control deficiencies.
9. Recommend corrective measures and track their implementation.

D. Regulatory Compliance and Governance Assurance

1. Evaluate the adequacy of controls designed to ensure compliance with applicable Reserve Bank of India directions and other regulatory requirements.
2. Verify the implementation of regulatory inspection observations and management commitments.
3. Review the effectiveness of policy implementation, delegated authorities and governance processes.
4. Examine compliance with customer protection, Know Your Customer, Anti-Money Laundering and relevant lending requirements.
5. Provide independent assurance regarding implementation of corrective action plans.
6. Coordinate with Statutory Auditors, Compliance, Risk Management and external specialists while maintaining Internal Audit independence.

E. Audit Reporting and Corrective Action Monitoring

1. Issue clear, evidence-based Internal Audit reports with appropriate risk classification.
2. Identify root causes, control implications and practical corrective actions.
3. Establish an audit observation tracking mechanism with responsibility and timelines.
4. Monitor timely closure of audit findings and validate corrective actions independently.
5. Escalate critical and overdue observations to Senior Management and the Audit Committee.
6.



Present periodic audit reports covering significant findings, systemic weaknesses, repeat observations and closure status.

F. Fraud Risk and Vigilance Coordination

1. Identify fraud indicators, control circumvention and suspicious transactions during audits.
2. Immediately escalate suspected fraud or serious misconduct through approved reporting channels.
3. Support investigations by providing audit evidence and forensic analysis, where required.
4. Coordinate with the Legal and Vigilance function without compromising audit independence.
5. Recommend improvements to fraud prevention and detection controls.

G. Audit Team Leadership

1. Build and lead a competent Internal Audit team covering Head Office and branches.
2. Develop audit skills through training, supervision and quality reviews.
3. Introduce data analytics, continuous auditing techniques and technology-enabled audit monitoring.
4. Ensure appropriate audit documentation, evidence retention and professional standards.
5. Maintain objectivity, confidentiality and independence throughout audit assignments.

Preferred Candidate Profile: The candidate must possess extensive experience in NBFC or banking Internal Audit, strong understanding of lending operations, credit risk, financial controls, branch operations and regulatory expectations.

The candidate should have demonstrated experience in developing risk-based audit plans, managing multi-location audit teams, presenting to Audit Committees and independently challenging management decisions where control weaknesses exist.

Critical selection requirement: Preference should be given to candidates who have independently headed Internal Audit for a multi-branch financial institution and possess strong hands-on experience in both Head Office functional audits and field-level branch audits.

Important governance safeguard: The Head Internal Audit must have direct functional access to the Audit Committee, including the ability to report material concerns independently. Management should not have authority to suppress, alter or prevent reporting of significant audit findings.

📌 Assistant General Manager Internal Audit (Jaipur)
🏢 Digamber FInance
📍 Jaipur