Head - Internal Audit - NBFC

About the Company:

Our client is a (NBFC), its core values, mission, and focus areas, particularly emphasizing its commitment to secured lending for Micro, Small, and Medium Enterprises (MSMEs).

Job Description:

The Head of Internal Audit plays a crucial role in ensuring the integrity, effectiveness, and efficiency of the internal control environment within the NBFC. This position is responsible for overseeing all aspects of internal audit functions, particularly tailored to the secured lending operations focused on MSMEs. The incumbent will report directly to the Board of Directors or the Audit Committee and collaborate closely with senior management to enhance risk management processes and internal controls.

Key Responsibilities:

- Develop and execute a risk-based internal audit plan aligned with the organization's strategic objectives, regulatory requirements, and industry best practices, with a specific focus on secured lending to MSMEs.

- Lead and manage a team of internal auditors, providing guidance, training, and mentorship to ensure high-quality audit engagements and professional development opportunities.

- Conduct comprehensive audits of various business functions and processes, including credit underwriting, loan origination, collateral management, collections, and recovery operations, to evaluate the adequacy and effectiveness of internal controls.

- Identify areas of potential risk, inefficiency, or non-compliance through audit testing and analysis, and recommend practical solutions and improvements to mitigate risks and enhance operational efficiency.

- Review and assess the adequacy and effectiveness of existing policies, procedures, and internal controls related to secured lending activities, and make recommendations for enhancements or revisions as necessary.

- Stay abreast of regulatory developments, industry trends, and emerging risks in the MSME lending landscape, and ensure that internal audit activities remain aligned with evolving requirements and standards.

- Foster strong working relationships with stakeholders across the organization, including senior management, business units, risk management, compliance, and external auditors, to promote effective communication, collaboration, and knowledge sharing.

- Prepare clear and concise audit reports summarizing findings, recommendations, and action plans for management and the Board of Directors, and ensure timely follow-up on audit issues to track remediation efforts and closure.

- Participate in governance committees, risk forums, and other relevant forums to provide insights and recommendations on risk management, internal controls, and governance matters related to secured MSME lending operations.

Qualifications:

- Bachelor's degree in finance, accounting, business administration, or a related field; advanced degree or professional certification (e.g., CPA, CIA, CISA) preferred.

- Minimum 12-15 years of progressive experience in internal audit, risk management, or related fields within the financial services industry, with specific expertise in secured lending operations and MSME finance.

- Strong understanding of regulatory requirements, industry standards, and best practices pertaining to internal audit, risk management, and governance in the NBFC sector.

- Excellent analytical skills, attention to detail, and the ability to think critically and independently to identify and assess risks and control deficiencies.

- Demonstrated leadership abilities, including experience in managing audit teams, prioritizing workload, and driving results in a dynamic and fast-paced environment.

- Effective communication and interpersonal skills, with the ability to articulate complex concepts clearly and concisely and build relationships with stakeholders at all levels of the organization.

- Sound judgment, integrity, and professionalism, with a commitment to upholding ethical standards and promoting a culture of accountability and continuous improvement.

Monika