Assistant Manager Internal Audit

5 days ago

Bengaluru, Karnataka, India Varthana Full time

Role summary

The Assistant Manager – Internal Audit will plan and execute risk-based audits across the education loans portfolio (school/student loans), covering end-to-end lifecycle: sourcing, underwriting, documentation, disbursement, servicing, collections, and regulatory reporting, with an emphasis on control design, operating effectiveness, and credit process adherence for small to large ticket loans

Objectives

  • Evaluate the adequacy and effectiveness of internal controls across the retail lending value chain for education loans, including credit appraisal, KYC, documentation, and post-disbursement monitoring.
  • Verify process compliance with internal policies, regulatory guidelines, and product notes; identify gaps, quantify risk impact, and recommend control improvements.
  • Detects process lapses, misrepresentation, or fraud indicators using sampling, walkthroughs, and data testing; ensure timely remediation tracking and closure.

Key responsibilities

  • Plan and execute risk-based audit engagements on education / student loans portfolios, defining scope, test plans, sampling, and timelines based on ticket-size risk, product features (secured/unsecured, co-borrowers), and geographic spread.
  • Perform credit file audits on disbursed loans to validate completeness and accuracy of applications, appraisal notes, sanction terms, and documentation (KYC, income, admission proof, margin money, collateral where applicable).
  • Test critical checkpoints across the lifecycle: appraisal quality, sanction deviations, disbursement controls, post-disbursement utilization, EMI setup, NACH mandates, and early delinquency triggers.
  • Validate loan disbursement controls: maker–checker approvals, voucher controls, segregation of duties, and documentary evidence (signatures, approvals, disbursement memos) as per policy/SOPs
  • Review system data integrity: loan terms, interest rates, moratorium handling, interest capitalization, and repayment schedules; reconcile MIS to portfolio reports and regulatory returns.
  • Assess partner/DSA sourcing controls and branch adherence to KYC/AML norms and negative lists for student/guardian/co-borrower profiles.
  • Evaluate collections controls: bounce handling, field visit documentation, restructuring/rescheduling approvals, and write-off authorization matrices.
  • Identify fraud red flags (duplicate identities, proxy loans, forged documents) using sample checks and cross-validation; escalate as per fraud response protocol.
  • Prepare clear audit reports with findings, risk ratings, root-cause analysis, and actionable recommendations; present to management and track action plans to closure within agreed timelines.

Skills and competencies

  • Strong understanding of retail lending processes, credit risk, secured/unsecured education loan products, and documentation norms across ticket sizes.
  • Proficiency in risk-based auditing, sampling, data testing, and control evaluation; ability to design audit programs and working papers.
  • Knowledge of KYC/AML controls and operational risk in retail assets; awareness of regulatory expectations impacting retail lending processes.
  • Analytical mindset with attention to detail; ability to detect patterns indicating control failures or fraud.
  • Clear business writing and stakeholder communication for reporting and follow-up.

Qualifications

  • Bachelor's/Master's degree in commerce/finance/accounting or equivalent.
  • 4–8 years of internal audit or credit audit experience in retail lending; exposure to school infrastructure / education loans preferred.

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