Internal Audit & Controls – Process Audit, Regulatory Compliance & AI Automation

IIFL Capital Services Limited; Mumbai; On-site; INR 900,000 - 1,600,000; Full time

Job summary

IIFL Capital Services Limited is expanding its Internal Audit & Controls team in Mumbai. The role focuses on process audits, control assessments, regulatory reviews, and leveraging AI, automation and data analytics to enhance audit coverage and efficiency.

The ideal candidate will have CA/CIA/CMA/CISA/CFE qualifications with strong knowledge of financial services, risk management, and experience in documenting controls.

Qualifications

• Strong understanding of end-to-end business processes and internal controls.
• Experience in risk assessments and remediation planning.
• Familiarity with SEBI regulations, stock exchange and depository requirements is a plus.
• Ability to design data-driven, automated checks and dashboards.

Responsibilities

• Understand, document and evaluate end-to-end business processes and controls.
• Develop and review Risk and Control Matrices, identify key risks and improvements.
• Assess regulatory compliance with applicable regulations and internal policies.
• Review onboarding, transaction processing, reconciliations, vendor management and employee lifecycle workflows.
• Identify opportunities to automate audit activities using AI-enabled tools.
• Develop automated checks and monitoring for unusual transactions and control failures.
• Analyze large datasets to identify trends, anomalies and risk indicators.
• Collaborate with IT and data teams to develop audit scripts and dashboards.
• Recommend enhancements to workflows, maker-checker controls and access controls.
• Evaluate policies and SOPs for currency and consistent implementation.
• Prepare audit reports and action plans, monitor closure evidence.
• Develop management dashboards covering audit coverage and risk trends.
• Assess risks from automation and data quality in tech-enabled processes.

Skills

Process audits

Risk & control assessments

Regulatory awareness

AI & automation in audits

Data analytics

Documentation & reporting

Stakeholder management

Excel advanced

Education

CA/CIA/CMA/CISA/CFE

Tools

Python

SQL

Power BI

VBA

RPA

Job description

We are expanding our team and looking for talented, motivated, and detail-oriented professionals to join our Internal Audit Department.

Department:

Internal Audit & Controls

Qualification:

CA/CIA/CMA/CISA/CFE

1. Role Overview

The role focuses on process audits, internal control assessments, regulatory reviews and technology-enabled audit transformation. The candidate should have a strong understanding of business processes, regulatory requirements and risk management, along with the ability to leverage Artificial Intelligence (AI), automation and data analytics to improve audit coverage, monitoring and operational efficiency.

2. Key Responsibilities

• Process Audits: Understand, document and evaluate end-to-end business processes, identify control gaps and assess the effectiveness of existing controls.
• Risk & Control Assessments: Develop and review Risk and Control Matrices (RCMs), identify key risks, evaluate control design and operating effectiveness, and recommend improvements.
• Regulatory Audits: Assess compliance with applicable SEBI regulations, stock exchange and depository requirements, regulatory circulars, internal policies and other applicable requirements.
• Business Process Knowledge: Review operational processes across relevant business and support functions, including onboarding, transaction processing, reconciliations, settlements, vendor management, employee lifecycle, procurement and other critical workflows.
• AI-Driven Audit Automation: Identify opportunities to automate repetitive audit activities, control testing, data validation, exception identification, reporting and audit documentation using AI-enabled tools.
• Continuous Control Monitoring: Develop automated checks and exception-based monitoring to identify unusual transactions, deviations from approved processes, control failures and potential compliance breaches.
• Data Analytics: Analyse large datasets to identify trends, anomalies, duplicate transactions, unusual patterns, process deviations and potential risk indicators.
• Audit Tool Development: Collaborate with IT, data and business teams to develop automated audit scripts, dashboards, exception reports and control-monitoring solutions.
• Process Improvement: Recommend enhancements to existing workflows, maker-checker controls, approval mechanisms, reconciliations, access controls and process documentation.
• Policy & SOP Reviews: Evaluate whether policies, Standard Operating Procedures (SOPs), process notes and control documents are current, appropriately approved and consistently implemented.
• Audit Reporting & ATR: Prepare clear audit reports, agree corrective action plans with stakeholders, monitor action items and validate closure evidence.
• Management Dashboards: Develop management information systems and dashboards covering audit coverage, control effectiveness, recurring observations, overdue ATRs and risk trends.
• Emerging Technology & Risk: Assess risks arising from automation, AI adoption, data quality, access management and technology-enabled business processes.

3. Mandatory Skills & Experience

• Strong process understanding and experience in process audits, internal controls, risk assessments or operational risk management.
• Sound knowledge of applicable regulatory requirements, preferably within financial services, capital markets or securities broking.
• Practical understanding of process mapping, control design, control testing, root-cause analysis and remediation.
• Demonstrable interest or experience in using AI and automation to improve audit processes and control monitoring.
• Ability to translate manual audit procedures into repeatable, data-driven and automated checks.
• Strong analytical skills and proficiency in advanced Excel and data analysis.
• Excellent documentation, report-writing, problem-solving and stakeholder-management capabilities.

4. Preferred Technical Skills

• Experience with AI-enabled productivity and analytical tools.
• Exposure to Python, SQL, Power BI, VBA, RPA or other workflow automation technologies.
• Experience developing audit dashboards, automated exception reports and continuous monitoring solutions.

5. Preferred Candidate Profile

• Candidates from internal audit, process assurance, risk advisory, compliance, operational risk or business controls functions within financial services will be preferred.
• The ideal candidate should combine process and regulatory understanding with a practical, solution-oriented approach to automation, demonstrating integrity, attention to detail and the ability to improve the efficiency and effectiveness of the Internal Audit & Controls function.