PHI - Lead- Internal Audit

prudential; Mumbai; On-site; INR 3,000,000 - 4,500,000; Full time

Benefits offered by this job

Global culture

Mentorship programs

Career development

Job summary

Prudential Health India seeks a dynamic Lead - Internal Audit to establish and head the internal audit function for a start-up health insurance venture in Mumbai. You will develop audit strategies, conduct risk-based audits, and report findings to the Audit Committee and CFO, driving timely remediation and improved controls.

The role requires a seasoned professional with deep insurance regulatory experience, enterprise risk oversight, and strong team leadership. Reporting to CFO; Mumbai location.

Qualifications

• CA/ICWA qualification with expertise in Indian GAAP, IFRS and IRDA frameworks.
• 8–12 years of experience in finance/accounting/auditing within health insurance.
• Strong knowledge of internal audit standards and IRDAI regulations.

Responsibilities

• Develop and lead an internal audit strategy and annual plan.
• Conduct risk-based audits across finance, operations, IT and compliance.
• Ensure compliance with IRDAI guidelines and internal policies.
• Prepare audit reports for the Audit Committee and senior management.

Skills

Analytical skills

Stakeholder management

Regulatory knowledge

IFRS/IRDA knowledge

Education

CA/ICWA qualification

Tools

Audit tools

Job description

Prudential's purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people's career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

PHI - Lead - Internal Audit

Prudential (UK) in partnership with the HCL group plans to set-up a standalone Indian health insurance company to address the growing healthcare needs of the Indian consumer.

This joint venture will combine Prudential's global expertise in insurance and financial services with HCL Group's experience in technology and healthcare solutions.

Prudential, with its longstanding presence in India, already operates two leading businesses in life insurance and asset management with the ICICI Group. Prudential was also the proud sponsor of the 1983 Cricket World Cup, India's first World Cup Victory!

Prudential Health India is a Zero to One team undertaking a no-legacy, greenfield health insurance deployment in India, building journeys that truly empathize with the customer and offer a differentiated experience.

To partner with us in this mission, we are looking for a dynamic and Risk Manager to ensure the efficient and seamless operation of the Risk Department and plays a crucial role in identifying, assessing and mitigating risks in the organization.

Reporting to CFO

Location: Mumbai

The Lead - Internal Audit role in a start-up health insurance company requires a strategic audit professional responsible for establishing and leading the internal audit function, developing audit strategies, conducting risk-based audits, and reporting findings to the Audit Committee and senior management. This role requires a seasoned audit professional with deep experience in insurance, regulatory compliance, and enterprise risk management.

Key Responsibilities

• Develop and implement a comprehensive internal audit strategy and annual audit plan aligned with business objectives and regulatory requirements
• Conduct risk-based audits across financial, operational, IT, and compliance areas to assess adequacy of controls and identify improvement opportunities
• Ensure compliance with IRDAI guidelines, internal policies, and applicable laws and regulations
• Prepare and present audit reports to the Audit Committee and senior leadership with clear findings, recommendations, and action plans
• Monitor implementation of audit recommendations and track remediation progress
• Collaborate with external auditors, regulators, and internal stakeholders to ensure audit readiness and transparency
• Lead investigations into fraud, misconduct, or control breaches and support disciplinary or legal actions as needed
• Maintain documentation and audit trails in accordance with professional standards
• Build and manage a high-performing internal audit team with strong technical and ethical capabilities
• Stay updated on emerging risks, regulatory changes, and best practices in internal audit and risk management

Qualification & Experience

• CA/ICWA qualification with expertise in Indian GAAP, IFRS, and IRDA frameworks.
• 8-12 years of experience in finance and accounting / Auditing within the health insurance industry.
• Strong knowledge of internal audit standards, IRDAI regulations, and insurance operations
• Familiarity with audit tools, data analytics, and governance frameworks

Skills

• High attention to detail and accuracy
• Strong analytical and problem-solving skills
• Excellent communication and stakeholder management abilities
• Ability to lead teams and manage multiple priorities under tight deadlines

What we offer

• Globally integrated culture
• Career development opportunities for professional growth and development including training and mentorship programs
• Collaborative and mission-driven work culture

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.