DVP-Lead Vendor Onsite Audits

Job Description

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Job Description:– DVP (Deputy Vice President) Lead, Vendor Onsite Audits Department: Risk / Audit / Compliance Role Overview:-The DVP – Lead, Vendor Onsite Audits will be responsible for planning, executing, and reporting end-to-end risk-based onsite audits of critical vendors and third-party service providers. The role ensures compliance with regulatory, contractual, and internal policies while safeguarding operational integrity, data security, business continuity, and adherence to RBI, IRDAI, and other sectoral regulatory guidelines. Key Responsibilities1. Audit Planning & Execution Develop and execute the annual vendor audit plan based on risk profiling, criticality, and materiality. Conduct periodic onsite audits of vendors across key functions such as collections, IT services, claims processing, customer service, etc. Review vendor processes, systems, and controls to assess operational effectiveness, governance, and compliance. 2. Regulatory Compliance Ensure vendor operations comply with RBI Master Direction on Outsourcing, IRDAI outsourcing guidelines, and relevant regulatory frameworks. Evaluate vendor adherence to confidentiality, data protection, customer rights, and grievance redressal mechanisms. 3. Audit Reporting & Follow-upPrepare comprehensive audit reports highlighting findings, root cause analysis, and risk categorization. Track and validate closure of audit observations through Corrective and Preventive Action Plans (CAPA). Present critical audit observations to senior management and participate in audit committee discussions as required. 4. Vendor Risk Management Collaborate with Vendor Management, Legal, Information Security, and Business Units to periodically assess vendor risks. Recommend enhancements to vendor due diligence, monitoring, and governance frameworks. 5. Stakeholder Engagement Act as the single point of contact (SPOC) for all vendor audit-related matters. Engage with internal stakeholders and vendors to strengthen internal controls, mitigate risks, and enhance governance mechanisms. Desired Candidate Profile Education: Chartered Accountant (CA), Certified Internal Auditor (CIA), MBA – Finance, or equivalent. Experience: 12–18 years of experience in internal audit, risk management, or compliance, with a strong focus on vendor/outsourcing audits. In-depth knowledge of RBI outsourcing guidelines, IRDAI norms, and data protection regulations. Experience in auditing vendors across IT, operations, collections, and customer service functions. Key Skills & Competencies:- Strong expertise in risk-based auditing methodologies. Understanding of outsourcing risks, vendor governance, and regulatory frameworks. Excellent analytical, problem-solving, and root cause analysis capabilities. Effective stakeholder engagement and communication skills, including senior leadership interaction. High ethical standards, attention to detail, and ability to manage multiple audits simultaneously.