Hiring Manager - Sachin Shah
Team : Internal Audit
About Navi
Navi is one of the fastest-growing financial services companies in India providing Personal & Home Loans, UPI, Insurance, Mutual Funds, and Gold. Navi's mission is to deliver digital-first financial products that are simple, accessible, and affordable. Drawing on our in-house AI/ML capabilities, technology, and product expertise, Navi is dedicated to building delightful customer experiences.
Founders: Sachin Bansal & Ankit Agarwal
Know what makes you a “Navi_ite” :
1.Perseverance, Passion and Commitment
• Passionate about Navi’s mission and vision
• Demonstrates dedication, perseverance and high ownership
• Goes above and beyond by taking on additional responsibilities
2.Obsession with high quality results
• Consistently creates value for the customers and stakeholders through high quality outcomes
• Ensuring excellence in all aspects of work
• Efficiently manages time, prioritizes tasks, and achieves higher standards
3.Resilience and Adaptability
• Adapts quickly to new roles, responsibilities, and changing circumstances, showing resilience and agility
The Group Head of Internal Audit is responsible for Navi’s strategic Risk-based Internal Audit Plan and managing the Group Internal Audit Function in accordance with Navi’s Internal Audit Charter and the Professional Standards for internal auditing promulgated by the Institute of Chartered Accountants of India (ICAI) and Institute of Internal Auditors (IIA). The role entails functioning as Head of Internal Audit of Navi’s lending business as per regulatory requirements.
Responsibilities include providing reasonable assurance on the effectiveness of the organization’s risk management and the strength of internal controls. The position assesses organization-wide compliance with Navi’s internal policies and procedures, laws and regulations, contractual terms and conditions, efficiency of operations, and accuracy of financial reporting.
Major responsibilities
A. Strategic
- Own the development and implementation of the risk-based annual internal audit plans of various entities of Navi and ensure they are responsive to and aligned with the risk profile of the organization.
- Identify and focus on emerging risk areas of various entities, map with auditable entities/functions.
- Ensure proper resourcing for implementation of the plan, and adjust the plan as needed in response to changes in Navi’s business risks, operations, programs, systems and controls.
B. Process development
- Develop and update audit tools by considering IIA guidelines & audit manual, and different operational, legal and environmental changes of the entities.
- Proactively inform senior management of significant risks or exposures related to internal controls, compliance and governance requiring prompt attention.
- Provide feedback and recommendations on business risks and improving operational efficiencies and processes where appropriate.
C. Leadership
- Maintain good relationships and work with a collaborative approach with all key stakeholders across various entities.
- Oversee Internal Audit’s participation in critical business and technology initiatives and projects ensuring that audit’s perspective is effectively voiced and appropriate controls are designed and implemented on a proactive basis.
- Serve as a “thought leader” with respect to risk management and internal control best practices.
- Actively participate in executive management meetings and committees to ensure that Internal Audit is well-informed of key business developments (GMC, RMC, FMC etc.).
D. Operational
- Direct audits to assess controls, operational and technical efficiencies, and compliance with policies, procedures and regulations.
- Maintain high quality standards while delivering and executing the internal audit plan within stated timelines.
- Prepare materials and make presentations to the audit committee and management independently.
- Track the issues and actions management process and ensure timely closure.
- Conduct special assignments and thematic reviews as per requirements of Audit Committee and Management.
E. Reporting
- Issue all Internal Audit reports in a timely manner ensuring the reports are clear, concise, identify root causes with practical solutions, and ultimately provide value to management.
- Ensure timely delivery of different MIS, reports, and data to assist the Function Head and Management.
F. Team building
- Attract, hire, and retain a team of high-performing audit professionals who possess outstanding knowledge, experience, ethics, and integrity.
- Establish and assign departmental goals to team members, supervise, monitor and evaluate their performance.
- Coach, mentor, and develop career paths for direct reports.
Experience & Education:
- CA, CIA or equivalent is preferred.
- 10 or more years’ experience in auditing and investigations, preferably internal auditing, risk management or fraud prevention (with min 4 years in management role).
- 3 to 5 years of Fintech or NBFC industry experience with good expertise of RBI regulatory guidelines is preferred.
Other Knowledge, Skills and Abilities:
- Effective communication skills, can do attitude, can beat timelines and deadlines, can bring new ideas which can uphold the quality of the team.
- Comprehensive understanding of regulatory guidelines (RBI, IRDAI, MCA, SEBI, AMFI etc.), COSO framework and Internal Auditing Standards.
- Ability to effectively communicate with Board and Senior Management.
- Collaborative personality with strong project management skills.
- Agile mindset and promoter of automation & technology adoption.