Company Description – Largest Asian Commercial Bank
Role Summary – The Lead Internal Auditor in a banking sector is responsible for overseeing, executing, and managing internal audit activities to ensure the effective functioning of the company’s internal controls, risk management practices, and compliance with relevant regulations and policies. The Lead Internal Auditor will lead audit engagements, manage audit teams, develop audit plans, and provide recommendations to senior management to improve operational efficiency, reduce risks, and ensure compliance with industry standards and legal requirements.
Responsibilites – Audit Planning & Strategy:
Develop comprehensive audit plans and risk-based strategies to assess the adequacy and effectiveness of internal controls, risk management, and governance processes within the bank.
Identify high-risk areas and recommend audit priorities to senior management.
Ensure audit engagements align with both internal and external regulatory requirements, industry standards, and best practices.
Internal Audit Execution:
Lead, direct, and manage the internal audit team in executing audit assignments across various departments, functions, and branches within the bank.
Conduct detailed audits of banking operations, including financial transactions, lending practices, credit risk management, operational procedures, IT systems, compliance, and regulatory adherence.
Review and evaluate the design and effectiveness of internal controls, financial reporting, and operational processes.
Conduct risk assessments, identifying areas for improvement and inefficiencies, while ensuring that risk mitigation strategies are in place.
Reporting & Communication:
Prepare and present audit reports detailing findings, risk assessments, and recommendations for corrective actions.
Communicate audit results effectively to senior management, audit committees, and other stakeholders.
Provide insights and recommendations for improvements in internal processes, controls, and governance structures.
Compliance & Regulatory Oversight:
Ensure that all audit activities adhere to the bank’s compliance requirements, including but not limited to regulatory frameworks such as Basel III, SOX (Sarbanes-Oxley), and local financial regulations.
Keep up to date with changes in regulations, standards, and industry best practices, ensuring that audit procedures reflect these changes.
Risk Management:
Identify emerging risks and vulnerabilities in the bank’s operations, technology, and processes.
Advise on the implementation of risk management strategies and controls to mitigate operational, credit, market, and compliance risks.Evaluate the bank’s risk exposure and provide recommendations for improved risk mitigation.
Continuous Improvement & Training:
Coach, mentor, and develop the internal audit team to enhance skills, knowledge, and professional growth.
Promote a culture of continuous improvement by suggesting improvements in processes, controls, and audit methodologies. Develop and deliver training sessions for internal audit staff and other departments on internal controls, risk management, and compliance matters.
Stakeholder Management:
Act as the primary point of contact between the internal audit function and senior management, the audit committee, and external auditors.
Build strong relationships with other departments, offering guidance and support on internal controls and risk mitigation.
Collaborate with management to follow up on the implementation of audit recommendations and corrective actions.
Special Projects & Investigations:
Lead investigations into areas of suspected fraud, mismanagement, or financial irregularities.
Manage or participate in special audit projects, including due diligence for mergers and acquisitions, system implementations, and other strategic initiatives.
Location – Mumbai
Industry – NBFC
Employment Type – Full Time
Work Mode – Wrok From Office
Functions – Internal Audit
Level – Senior Manager/AVP
Experience – Senior Manager/AVP