RBI IS Audit for an NBFC

Challenges

Aligning IT systems and controls with RBI’s Information Systems (IS) Audit requirements.
Identifying and addressing gaps in IT security, data integrity, and system availability.
Ensuring the organization’s IT policies were robust enough to withstand regulatory scrutiny.
Managing coordination between internal IT teams and external auditors.

Conducted an initial gap analysis to evaluate current IT security practices against RBI IS Audit guidelines.
Strengthened IT policies and procedures to cover key areas such as data protection, access controls, and incident management.
Deployed advanced tools for system monitoring, logging, and reporting to provide evidence of compliance.
Performed mock audits and internal assessments to prepare for the actual IS audit.
Delivered focused training sessions for IT and compliance teams to ensure alignment with audit requirements.

Passed the RBI IS Audit with zero critical observations.
Enhanced the resilience of IT systems, reducing the risk of data breaches and system downtime.
Established a culture of continuous improvement in IT governance and compliance.
Built stronger relationships with regulators through proactive and transparent communication.