Avinash Bhaskar Shetty
Thane
Summary
Seasoned Internal Audit and Compliance Professional with over 10 years of experience in the Banking and Financial Services Industry (BFSI). Adept at risk-based auditing, regulatory compliance, system development, and strategic decision-making. Expertise in Home Loans, Loan Against Property (LAP), Gold Loans, Vendor Payments, Retail Banking, Currency Chest Operations, and Risk Assessments. Proven track record in leading audit teams, enhancing internal controls, and collaborating with stakeholders to strengthen governance frameworks.
Overview
15
15
years of professional experience
1
1
Certification
Work History
Analyst, Center of Excellence
IDFC First Bank
01.2023 - Current
- At IDFC First Bank, I play a key role in strengthening risk controls and compliance mechanisms within the Center of Excellence (COE)
- Leading a team of 7 auditors, I oversee internal risk assessments, system development initiatives, and compliance reviews
- Audit Leadership & Compliance: Conducted risk-based audits of Micro Business Loan disbursements, identifying gaps in sales, credit, and operational compliance
- System Development Collaboration: Provided business requirements for the CPV (Contact Point Verification) system, enhancing accuracy and fraud detection
- Regulatory Reporting: Prepared and submitted half-yearly and quarterly reports to RBI for the Framework for Revival and Rehabilitation of MSME Accounts
- CIBIL Nodal Officer: Managed the creation of CIBIL IDs PAN India, ensuring compliance with reporting obligations
Senior Associate, Internal Audit
Kotak Mahindra Bank
12.2018 - 12.2022
- As part of Kotak Mahindra Bank’s Internal Audit Department, I conducted end-to-end audits of retail banking, lending portfolios, and risk functions, directly influencing operational improvements and compliance adherence
- Key Audit Engagements: Led audits for Home Loans, Loan Against Property (LAP), Vendor Payments, and Gold Loans, identifying inefficiencies and control gaps
- Currency Chest & Retail Branch Audits: Assessed cash management, vault operations, and regulatory compliance across retail branches
- Risk-Based Approach: Developed risk assessment methodologies, highlighting operational, financial, and regulatory risks within core banking functions
- Audit Reporting & Senior Management Engagement: Prepared in-depth audit reports, presenting risk mitigation strategies to senior leadership
- Training & Development: Mentored junior auditors, conducting knowledge-sharing sessions to strengthen audit practices
Deputy Manager, Internal Audit
HDFC Bank
08.2014 - 12.2018
- In my role at HDFC Bank, I was responsible for conducting audits across multiple banking verticals to enhance compliance, operational efficiency, and risk mitigation strategies
- Retail Branch Audits: Evaluated financial, regulatory, and reputational risks across multiple retail branches
- Gold Loan Operations: Led comprehensive audits of Gold Loan desks, ensuring strict adherence to credit policies
- Regulatory Compliance Audits: Conducted targeted audits across: Currency Chest Operations – Ensuring adherence to RBI cash-handling regulations
- Mutual Fund Operations – Reviewing regulatory compliance and risk exposure
- Retail Forex Outward Remittances – Assessing AML risks and process efficiency
- Record Keeping & Documentation – Ensuring compliance with legal documentation standards
Audit Associate
RSVA & Co. (Chartered Accountants)
09.2010 - 08.2014
- Worked extensively on statutory audits, internal audits, and concurrent audits for nationalized, private, and co-operative banks, including: Union Bank of India, Karnataka Bank, and Co-operative Banks
- Evaluated treasury operations, CAMEL ratings, CRAR assessments, and asset-liability management (ALM)
- Audited deposits, advances, and forex operations, ensuring adherence to banking regulations
Education
Chartered Accountant - Final Group 1
ICAI
01.2012
Bachelor of Commerce -
Mumbai University
01.2004
Skills
- Internal Audit & Compliance
- Risk Assessment & Management
- Regulatory Reporting & Policy Compliance
- Process Improvement & Control Strengthening
- Home Loans
- LAP
- Gold Loans
- Vendor Payments
- Currency Chest & Treasury Audits
- System Development & Business Process Optimization
- Team Leadership & Stakeholder Collaboration
Certification
Foreign Exchange Certificate, IIBF, 2016
Timeline
Analyst, Center of Excellence
IDFC First Bank
01.2023 - Current
Senior Associate, Internal Audit
Kotak Mahindra Bank
12.2018 - 12.2022
Deputy Manager, Internal Audit
HDFC Bank
08.2014 - 12.2018
Audit Associate
RSVA & Co. (Chartered Accountants)
09.2010 - 08.2014
Bachelor of Commerce -
Mumbai University
Chartered Accountant - Final Group 1
ICAI
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