Assistant Manager Internal Audit

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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