Manager - Internal Audit and Quality Assurance

BRANCH INTERNAL AUDITOR

Role: Manager – Internal Audit & Quality Assurance (IAQA)

Job Summary

The Manager – Internal Audit & Quality Assurance (IAQA) is responsible for executing internal audit plans, ensuring process adherence, and maintaining high standards of audit quality across assigned branches and functions. The role supports risk identification, compliance monitoring, and implementation of audit frameworks by working closely with zonal and corporate audit teams. The incumbent plays a critical role in strengthening internal controls, improving operational efficiency, and ensuring regulatory compliance.

Key Responsibility Areas

1. Audit Planning & Execution

• Execute audit plans aligned with the approved audit universe and risk framework.
• Support in identifying risk areas and provide inputs for refining audit scope based on business and regulatory changes.
• Conduct branch, functional, and process audits as per defined schedules and guidelines.
• Ensure audits are executed within defined timelines, scope, and audit standards.
• Maintain adherence to Internal Audit Charter and ensure audit independence in all engagements.

2. Branch Audit Management

• Conduct branch audits including routine, snap, and surprise audits across assigned locations.
• Perform HOTO (Handing Over Taking Over) audits during branch transitions.
• Identify control gaps, operational inefficiencies, and potential fraud risks.
• Assist in fraud investigations and incident reviews, ensuring proper documentation and reporting.
• Track and follow up on audit observations and ensure timely closure through ATR (Action Taken Report) mechanisms.
• Maintain audit MIS and provide periodic updates on audit progress and findings.

3. Functional & Process Audits

• Execute functional and process audits as per corporate audit plans.
• Participate in end-to-end audit lifecycle including planning, fieldwork, analysis, and reporting.
• Ensure proper documentation of audit workpapers, risk categorization, and evidence-based findings.
• Provide actionable and practical recommendations to improve controls and processes.
• Coordinate with cross-functional teams for data collection and audit execution.

4. IS Audit Coordination

• Support coordination with IS Audit teams for technology-related audits.
• Facilitate audits of IT systems, applications, and vendor processes within assigned scope.
• Track closure of IS audit observations and ensure compliance with recommendations.

5. Compliance Monitoring

• Monitor adherence to regulatory guidelines and internal policies applicable to NBFC operations.
• Track compliance deviations and escalate critical issues to reporting manager.
• Support maintenance of compliance trackers and ensure timely reporting.

6. Quality Assurance

• Conduct quality checks on audit documentation and reports to ensure adherence to defined standards.
• Ensure audit findings are clear, well-supported, and aligned with risk severity.
• Support periodic QA reviews and contribute to continuous improvement in audit processes.
• Ensure timely submission of high-quality audit reports.

Key Stakeholders

Internal Stakeholders

• Zonal / Regional Audit Heads
• Corporate Internal Audit Team
• Branch Managers & Regional Business Teams
• Risk & Compliance Teams
• Operations & Functional Heads
• IS Audit / IT Teams

External Stakeholders

• External Auditors (as required)
• Regulatory Authorities (through audit coordination, if applicable)
• Vendors / Service Providers (during audit reviews)

Key Competencies

• Strong understanding of internal audit methodologies and frameworks
• Knowledge of NBFC regulations and compliance requirements
• Risk assessment and control evaluation skills
• Audit documentation and reporting expertise
• Basic understanding of IT systems and IS audit concepts

Experience & Education

• Education: 
  • Chartered Accountant (CA) / MBA (Finance) / Certified Internal Auditor (CIA) / equivalent qualification preferred
  • Bachelor’s degree in Commerce / Finance / Accounting or related field
• Experience: 
  • 4–7 years of experience in Internal Audit, Risk, or Compliance
  • Prior experience in NBFC / BFSI sector preferred
  • Exposure to branch audits, process audits, and compliance reviews
  • Experience in handling audit assignments independently