Head – Internal Audit – NBFC Corenza

The Corporate Institute; Mumbai; On-site; INR 2,800,000 - 4,400,000; Full time

Job summary

The Corporate Institute in Mumbai seeks a seasoned Regulatory Compliance Lead to monitor RBI circulars, conduct risk-based audits, and drive remediation across NBFC functions. You will prepare detailed reports, advise on regulatory interpretation, and partner with business units to strengthen controls.

Ideal candidates have 8–12 years of regulatory experience, CA/MBA/CS/CMA/LLB qualifications, and a track record with RBI regulations, audits, and governance.

Qualifications

• CA/MBA/CS/CMA/LLB or equivalent professional qualification.
• Certification in Internal Audit, Risk Management, Compliance or Regulatory Auditing adds advantage.

Responsibilities

• Regulatory Compliance Monitoring of RBI circulars, directions and guidelines for NBFCs.
• Conduct risk-based compliance audits and thematic reviews across functions.
• Identify gaps, perform root cause analysis, and document findings with regulatory references.
• Track corrective actions and ensure timely closure with stakeholders.
• Provide regulatory advisory support and assist during inspections.
• Contribute to risk management by identifying emerging regulatory risks and controls.
• Collaborate with heads of functions to implement audit recommendations.
• Maintain comprehensive audit documentation and MIS dashboards.

Skills

Regulatory Compliance

RBI Regulations

Audit & Assurance

Risk Management

Stakeholder Management

Policy Advisory

Education

Chartered Accountant (CA)

MBA (Finance)

Company Secretary (CS)

CMA

LLB

Tools

GRC software

MS Office

Regulatory reporting tools

Job description

Key Responsibilities

1. Regulatory Compliance Monitoring

• Monitor RBI circulars, notifications, master directions, guidelines, and other regulatory developments applicable to NBFCs.
• Assess the impact of new and amended regulations on various business functions.
• Ensure regulatory requirements are incorporated into internal policies, SOPs, and operational processes.
• Maintain a repository of applicable regulatory requirements and compliance obligations.

2. Compliance Audit

• Develop and execute a risk-based Regulatory Compliance Audit Plan.
• Conduct periodic audits across business functions.
• Evaluate adherence to RBI regulations, internal policies, board-approved frameworks, and statutory requirements.
• Perform thematic and focused reviews based on regulatory risks.

3. Gap Assessment & Reporting

• Identify regulatory non-compliances, control weaknesses, and process gaps.
• Conduct root cause analysis for audit observations.
• Prepare detailed audit reports highlighting:
  • 1. Nature of non-compliance
  • 2. Regulatory reference
  • 3. Business impact
  • 4. Risk rating
  • 5. Corrective action recommendations
• Present findings to senior management and relevant stakeholders.

4. Corrective Action Tracking

• Work closely with business and functional teams to implement corrective actions.
• Monitor progress against agreed action plans.
• Validate closure of audit observations through follow-up reviews.
• Escalate unresolved or overdue observations to management.

5. Regulatory Advisory

• Provide guidance to business teams on interpretation and implementation of RBI regulations.
• Participate in policy reviews to ensure regulatory alignment.
• Support departments during regulatory inspections and internal/external audits.

6. Risk Management

• Identify emerging regulatory risks.
• Recommend preventive controls and process improvements.
• Strengthen the organization’s compliance culture through proactive reviews.

7. Stakeholder Management

• Collaborate with business heads, compliance, legal, risk, finance, operations, and IT teams.
• Build strong working relationships to facilitate timely implementation of audit recommendations.

8. Documentation & Governance

• Maintain comprehensive documentation of audit working papers, evidence, reports, and compliance trackers.
• Prepare periodic MIS and dashboards for management and Board-level committees.
• Ensure audit documentation meets regulatory and internal quality standards.

Required Qualifications

• Chartered Accountant (CA), MBA (Finance), Company Secretary (CS), CMA, LLB, or equivalent professional qualification.
• Certification in Internal Audit, Risk Management, Compliance, or Regulatory Auditing will be an added advantage.

Experience

• 8 – 12 years of experience in NBFCs, Banks, Financial Institutions, or Audit/Consulting firms.
• Minimum 5 years of experience in Regulatory Compliance.
• Hands-on experience in auditing RBI regulatory compliance for NBFCs.
• Experience in interacting with regulators, auditors, and senior management is preferred.