Team Lead / Lead - Inclusive Banking Group - Internal Audit

Hiring for: A leading private sector bank in India, offering a wide range of banking and financial services to corporate, retail, and institutional clients.

Role: Team Lead / Lead - Inclusive Banking Group - Internal Audit

Positions: 1

Experience: 12 to 15 years

Location(s): Hyderabad

Type: On-site / Permanent

Salary: Up to INR 50 LPA

Job Description:

The Team Lead  – Inclusive Banking Group Audit is responsible for providing independent, objective assurance and advisory services over the Inclusive Banking portfolio, including priority sector lending, MSME, Retail, Co-lending, financial inclusion initiatives, government-sponsored schemes, digital banking, and other IBG products. The role ensures adherence to regulatory requirements, internal policies, risk management frameworks and supports the bank in achieving its financial inclusion and sustainability objectives.

 Key Responsibilities:

1. Strategic Audit Leadership

• Lead and manage the IBG Audit Vertical covering all products, processes, channels, and geographies under Inclusive Banking.
• Develop and execute the risk based annual audit plan for IBG in alignment with overall Internal Audit strategy.
• Provide strategic inputs to mitigate the risks in IBG to the Senior Management.

2. Audit Planning & Execution

• Oversee audits of:
• Financial Inclusion (PMJDY, SHG/JLG, BC model, etc.)
• MSME, Retail and Co-lending
• Government-sponsored schemes (CGTMSE, CGFMU & ECLG etc.)
• Digital / technology-enabled inclusive banking initiatives
• BC (Business Correspondent) operations and digital touchpoints
• Ensure audits evaluate:
• Credit appraisal and underwriting quality.
• Compliance with RBI, Income Tax, GST and Other applicable Government guidelines
• Process controls and operational efficiency.
• End-use of funds
• Asset quality and early warning signals
• Review audit reports for accuracy, depth and practicality of recommendations.

3. Risk & Control Assessment

• Independently assess credit risk, operational risk, compliance risk, and fraud risk specific to IBG.
• Identify systemic issues, recurring audit findings, and control gaps.
• Monitor high-risk areas such as:
• BC operations and cash management
• KYC/AML compliance in inclusion accounts
• Digital fraud and technology vulnerabilities
• Subsidy linkage and claims
• Collections
• Ensure audit coverage remains aligned with changing risk profiles.

4. Regulatory & Compliance Assurance

• Ensure IBG audit framework is compliant with:
• RBI regulations and circulars
• Internal policies and Standard Operating Procedures (SOPs)
• Government scheme operational guidelines
• Support inspections by regulators and concurrent / statutory auditors where required.
• Validate management action plans for regulatory and audit observations.

5. Team & Stakeholder Management

• Lead, mentor, and develop a team of auditors specializing in Inclusive Banking.
• Improve team capability through training on:
• IBG products and schemes
• Regulatory updates
• Audit tools and data analytics.
• Engage with stake holders, risk, compliance, and operations teams to facilitate constructive audit outcomes without compromising independence.
• Allocate audit assignments, review working papers, and ensure adherence to audit quality standards and timelines.

6. Reporting & Governance

• Present key audit findings, risk themes, and trend analysis to:
• Relevant stake holders
• Senior Management
• Audit Committee (as required)
• Track and report timely closure of audit observations.
• Contribute to enterprise-wide audit initiatives and thematic reviews.

Key Performance Indicators (KPIs)

• Timely completion of IBG audit plan
• Quality and impact of audit observations
• Reduction in repeat audit findings
• Effectiveness of issue closure and remediation
• Regulatory feedback and inspection outcomes
• Team capability enhancement and succession planning

EDUCATION

Ø Chartered Accountant (CA) / Cost Accountant (CMA) / MBA (Finance) / equivalent professional qualification

·      Additional certifications (desirable): CIA, CISA, FRM

WORK EXPERIENCE

Ø 12–15 years of experience in banking, with significant exposure to:

• Internal Audit
• Credit / Risk Management
• Inclusive Banking / Priority Sector

Ø Minimum 5–7 years in a leadership or TL role preferred.