Job Requirements Role/ Job Title: Audit Executive-Business Process Function/ Department: Internal Audit Job Purpose: As an Audit Executive – Business Process within the Internal Audit function, you will play a key role to independently execute risk-based internal audits of Trade Finance and Remittance activities, assess the design and operating effectiveness of controls, evaluate regulatory and internal-policy compliance, identify process and control gaps, and provide practical recommendations to strengthen the Bank's control, risk management, and governance framework. Roles &

Responsibilities:
· Assist the Audit Manager in defining audit scope, objectives, risk assessment, audit programs, and sampling approach.
· Execute end-to-end audits within approved timelines, including process walkthroughs, transaction testing, data analysis, control validation, and documentation of audit evidence.
· Review policies, product notes, SOPs, risk-control matrices, checklists, approval matrices, accounting records, exception reports, and regulatory returns.
· Assess compliance with applicable RBI and FEMA requirements, FEDAI rules, UCP 600, URC 522, SWIFT controls, and the Bank's internal policies and procedures.
· Review Trade Finance and Remittance activities covering exports, imports, letters of credit, bank guarantees/SBLCs, buyer's credit, inland trade, merchanting trade, inward and outward remittances, LRS, exchange-house/RDA transactions, and capital-account transactions including ECB, FDI and ODI.
· Evaluate IDPMS/EDPMS reporting and settlement, FETERS and other regulatory reporting, Bill of Entry and shipping-bill monitoring, caution listing,



entity/name screening, and TBML-related controls.
· Assess key reconciliations, including Nostro, Vostro, SWIFT/SFMS, office accounts, limits.
· Identify control-design gaps, operational errors, regulatory non-compliance, unusual transactions, fraud indicators, and technology dependencies, and determine the underlying root cause and risk impact.
· Draft clear, evidence-based audit observations, risk statements, root-cause analyses, recommendations, and reports; discuss findings with stakeholders and support finalisation of management responses.
· Monitor implementation of agreed actions and validate closure of audit observations based on adequate and relevant evidence.
· Follow up on compliance with audit recommendations and report status updates.
· Support preparation of Audit Committee and senior-management presentations and maintain effective professional relationships with Business, Operations, Compliance, Risk, Technology, and other stakeholders. Secondary

Responsibilities:
· Contribute to enhancement of audit methodologies, checklists, data analytics, and continuous-monitoring approaches.
· Participate in thematic reviews, special assignments relating to Trade Finance, Remittances, and associated control processes.




· Stay updated on regulatory developments, industry practices, products, systems, and emerging risks affecting cross-border banking transactions.
· Capture and share audit insights and best practices and support knowledge-building within the Internal Audit team.

Education:
· Graduate degree in Commerce, Finance, Accounting, Economics, Business Administration, Management, Engineering, or a related discipline.
· Postgraduate qualification in Finance, Banking, Risk Management, Operations, or a related field is preferred.
· Professional qualification or certification such as CA, CIA, FRM, CFA, CS, or a recognised Trade Finance certification is preferred.

Experience:
• 4 to 7 years of relevant experience in Internal Audit, Concurrent Audit, Risk Management, Trade Finance Operations, Remittance Operations, or a related assurance function.
• Experience in a bank, financial institution, Big 4 firm, or reputed CA firm, with hands-on exposure to audits of Trade Finance and Remittance processes.
• Sound knowledge of export and import finance, letters of credit, bank guarantees/SBLCs, remittances, capital-account transactions, SWIFT, IDPMS/EDPMS, regulatory reporting, and reconciliation controls.
• Working knowledge of applicable RBI/FEMA requirements, FEDAI rules, international Trade Finance practices, and risk-based internal-audit methodology.
• Robust analytical, report-writing, stakeholder-management, and problem-solving skills, with proficiency in MS Excel and other Microsoft Office applications.

📌 Senior Audit Executive-Business Process (Mumbai)
🏢 IDFC FIRST Bank
📍 Mumbai