Job Description
Bombay Mercantile Co-Operative Bank Ltd., a leading Multi-State Scheduled Bank, with 52 branches across 10 states, requires dynamic and experience personnel.
Age: 45-50 Years
Location: Mumbai
Qualification and Experience:
Essential: Chartered Accountant (CA) / Certified Internal Auditor (CIA) / MBA (Finance) / CISA (for IT Audit exposure)
Preferred: Additional qualification in cooperative banking, fraud examination, or banking law
Experience: Minimum 15 years in banking/financial services, with at least 5 years in a senior audit role. Experience in cooperative banking or public sector banks is preferred.
Strong knowledge of RBI, cooperative banking laws, and risk-based audit frameworks
Experience with audit tools, risk assessment systems, and compliance tracking platforms
Key Responsibilities:
1. Audit Planning & Strategy
Develop and implement a comprehensive risk-based internal audit plan covering branches, departments, and business functions.
Present the annual audit plan to the Audit Committee of the Board (ACB) for approval and ensure timely execution.
2. Execution of Audits
Oversee all audits: branch audits, departmental audits, IS audits, revenue audits, concurrent audits, and special audits.
Ensure adherence to the audit calendar and timely completion of audit cycles.
Conduct surprise audits and forensic reviews as and when required.
3. Reporting & Follow-up
Submit objective, accurate, and actionable audit reports to the ACB and senior management.
Monitor and ensure timely compliance with audit observations and rectification of deficiencies.
Maintain an effective issue-tracking and closure mechanism.
4. Regulatory Compliance & Support
Ensure compliance with RBI guidelines on Risk-Based Internal Audit (RBIA) and other regulatory circulars.
Facilitate internal audits mandated by RBI, NABARD, Registrar of Co-operative Societies, etc.
Support regulatory inspections by providing required documents and responses.
5. Risk Assessment & Advisory
Identify process weaknesses, fraud risks, and non-compliance areas and recommend preventive/corrective measures.
Participate in the strengthening of internal controls, policies, and standard operating procedures (SOPs).
Advise management on risk trends and emerging threats.
6. Audit Quality Assurance
Establish audit quality standards and review audit methodologies for effectiveness.
Periodically update the audit manual in line with best practices and regulatory guidance.
Conduct root cause analysis of repeat findings and suggest sustainable solutions.
7. Team Leadership & Capacity Building
Lead and manage the internal audit team including concurrent and outsourced auditors.
Build a professional and independent audit team with relevant skills.
Conduct internal training and knowledge-sharing sessions.
Job Type: Full-time
Schedule:
Day shift
Ability to commute/relocate:
Masjid, Mumbai, Maharashtra: Reliably commute or planning to relocate before starting work (Preferred)
Education:
Bachelor's (Preferred)
Experience:
Inspection & Audit : 10 years (Preferred)
Work Location: In person
Age: 45-50 Years
Location: Mumbai
Qualification and Experience:
Essential: Chartered Accountant (CA) / Certified Internal Auditor (CIA) / MBA (Finance) / CISA (for IT Audit exposure)
Preferred: Additional qualification in cooperative banking, fraud examination, or banking law
Experience: Minimum 15 years in banking/financial services, with at least 5 years in a senior audit role. Experience in cooperative banking or public sector banks is preferred.
Strong knowledge of RBI, cooperative banking laws, and risk-based audit frameworks
Experience with audit tools, risk assessment systems, and compliance tracking platforms
Key Responsibilities:
1. Audit Planning & Strategy
Develop and implement a comprehensive risk-based internal audit plan covering branches, departments, and business functions.
Present the annual audit plan to the Audit Committee of the Board (ACB) for approval and ensure timely execution.
2. Execution of Audits
Oversee all audits: branch audits, departmental audits, IS audits, revenue audits, concurrent audits, and special audits.
Ensure adherence to the audit calendar and timely completion of audit cycles.
Conduct surprise audits and forensic reviews as and when required.
3. Reporting & Follow-up
Submit objective, accurate, and actionable audit reports to the ACB and senior management.
Monitor and ensure timely compliance with audit observations and rectification of deficiencies.
Maintain an effective issue-tracking and closure mechanism.
4. Regulatory Compliance & Support
Ensure compliance with RBI guidelines on Risk-Based Internal Audit (RBIA) and other regulatory circulars.
Facilitate internal audits mandated by RBI, NABARD, Registrar of Co-operative Societies, etc.
Support regulatory inspections by providing required documents and responses.
5. Risk Assessment & Advisory
Identify process weaknesses, fraud risks, and non-compliance areas and recommend preventive/corrective measures.
Participate in the strengthening of internal controls, policies, and standard operating procedures (SOPs).
Advise management on risk trends and emerging threats.
6. Audit Quality Assurance
Establish audit quality standards and review audit methodologies for effectiveness.
Periodically update the audit manual in line with best practices and regulatory guidance.
Conduct root cause analysis of repeat findings and suggest sustainable solutions.
7. Team Leadership & Capacity Building
Lead and manage the internal audit team including concurrent and outsourced auditors.
Build a professional and independent audit team with relevant skills.
Conduct internal training and knowledge-sharing sessions.
Job Type: Full-time
Schedule:
Day shift
Ability to commute/relocate:
Masjid, Mumbai, Maharashtra: Reliably commute or planning to relocate before starting work (Preferred)
Education:
Bachelor's (Preferred)
Experience:
Inspection & Audit : 10 years (Preferred)
Work Location: In person
💡 Quick Summary
Seeking a career-building opportunity? The Head of Audit & Inspection position is now open for candidates interested in the Bank Jobs sector. This role in Mumbai offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
