Internal Audit & Controls – Thematic, Forensic & Technology Audit

IIFL Capital Services Limited; Mumbai; On-site; INR 1,200,000 - 2,000,000; Full time

Job summary

IIFL Capital Services Limited in Mumbai is seeking an Internal Audit professional to conduct risk-based audits across the organization. The role focuses on thematic audits, forensic reviews and technology audits, with emphasis on regulatory knowledge of securities and capital markets.

You will audit retail broking, wealth management and other functions; assess IT controls, ISO frameworks, and ensure robust internal controls.

Qualifications

• Demonstrable experience in thematic audits — mandatory.
• Strong and in-depth knowledge of retail broking operations and the Indian securities market.
• Working knowledge of regulatory requirements applicable to retail and institutional broking, Investment Banking, Wealth Management, AIF and PMS.
• Experience in forensic audits, investigations, fraud risk assessment or transaction reviews.
• Exposure to system audits, cybersecurity reviews, IT general controls and application controls.
• Knowledge of ISO standards and information security/control frameworks.
• Strong analytical, documentation, report-writing and stakeholder-management skills.
• Ability to independently manage audits from planning and execution through reporting and closure.
• Proficiency in Excel and audit data analysis; experience with analytics or audit automation tools is an advantage.

Responsibilities

• Thematic audits: Independently plan and execute audits based on risks, regulatory developments and observations.
• Forensic audits & investigations: Conduct preliminary investigations, data analysis and forensic assessments.
• Retail broking audits: Audit client onboarding, KYC, funds, RMS, dealing room operations and compliance.
• Business & regulatory audits: Inspect Institutional Broking, Investment Banking, Wealth Management and PMS functions for regulatory adherence.
• Systems & cyber audits: Evaluate IT general controls, access management and security controls.
• ISO & control frameworks: Assess adherence to ISO standards and information security policies.
• Regulatory compliance: Review SEBI, stock exchange and depository requirements and policies.
• Risk assessment & reporting: Identify control weaknesses and recommend corrective actions.
• Audit closure & ATR: Track observations and validate management action plans.
• Management reporting: Prepare findings for senior governance forums.

Skills

Thematic audits

Retail broking

Regulatory knowledge

Data analytics

IT controls

ISO standards

Stakeholder mgmt

Education

CA/CIA/CMA/CISA/CFE

Tools

Excel

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 involves conducting risk-based internal audits, thematic audits, forensic reviews and technology-related audits across the organisation's business functions. The candidate should possess strong regulatory knowledge of the securities and capital markets industry, with in-depth understanding of retail broking operations, regulatory requirements and internal control frameworks.

2. Key Responsibilities

• Thematic Audits: Independently plan and execute thematic audits based on emerging risks, regulatory developments, business trends, control gaps and recurring audit observations.
• Forensic Audits & Investigations: Conduct preliminary investigations, transaction reviews, data analysis and forensic assessments relating to suspected fraud, employee misconduct, control circumvention, conflicts of interest and other irregularities.
• Retail Broking Audits: Conduct detailed audits of retail broking operations, including client onboarding, KYC, client funds and securities, RMS, dealing room operations, order execution, client complaints, surveillance, settlement and exchange-related compliance.
• Business & Regulatory Audits: Conduct audits across Institutional Broking, Investment Banking, Wealth Management, AIF, Internal Audit, PMS and other applicable business functions, considering their respective regulatory and operational requirements.
• Systems & Cyber Audits: Assess IT general controls, application controls, user access management, privileged access, change management, information security, cybersecurity and data protection controls.
• ISO & Control Frameworks: Evaluate adherence to applicable ISO standards, information security frameworks, documented policies, procedures and internal control requirements.
• Regulatory Compliance: Assess compliance with applicable SEBI regulations, stock exchange and depository requirements, circulars, internal policies and other relevant regulatory obligations.
• Risk Assessment & Reporting: Identify control weaknesses, assess inherent and residual risks, establish root causes and recommend practical corrective actions.
• Audit Closure & ATR Monitoring: Track audit observations, validate management action plans, monitor overdue items and assess the effectiveness of corrective actions.
• Management Reporting: Prepare audit reports, thematic review findings, risk summaries and presentations for senior management and relevant governance forums.
• Data Analytics: Use data-driven techniques to identify unusual transactions, patterns, exceptions and potential control failures.

3. Mandatory Skills & Experience

• Demonstrable experience in thematic audits — mandatory.
• Strong and in-depth knowledge of retail broking operations and the Indian securities market.
• Working knowledge of regulatory requirements applicable to retail and institutional broking, Investment Banking, Wealth Management, AIF and PMS.
• Experience in forensic audits, investigations, fraud risk assessment or transaction reviews.
• Exposure to system audits, cybersecurity reviews, IT general controls and application controls.
• Knowledge of ISO standards and information security/control frameworks.
• Strong analytical, documentation, report-writing and stakeholder-management skills.
• Ability to independently manage audits from planning and execution through reporting and closure.
• Proficiency in Excel and audit data analysis; experience with analytics or audit automation tools is an advantage.

4. Preferred Candidate Profile

• Candidates with experience in a stockbroker, securities firm, financial services organisation, Big Four or reputed risk advisory/internal audit firm will be preferred.
• Candidates should demonstrate professional scepticism, integrity, independence, sound judgement and the ability to challenge business practices constructively.