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Catherine Lloyd oversees daily newsroom operations at Clear Press. A former government analyst turned journalist, she ensures editorial quality, coordinates cross-desk coverage, and manages the reporting staff. She still writes on major policy and governance stories.

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Business··3 min read

Indian Railways Finance Corporation Opens Applications for Senior Audit Position

State-owned lender seeks experienced professional for three-year internal audit leadership role with September 30 application deadline. ---BODY--- The Indian Railways Finance Corporation (IRFC) has announced a recruitment drive for a Head of Internal Audit position, with applications open until September 30, 2026, according to PSU Connect. The state-owned non-banking financial company, which finances the acquisition of rolling stock and other railway assets, is seeking a senior professional to oversee its internal audit operations. The position carries a three-year tenure and represents a key compliance role within the organization. ## Position Details and Responsibilities The Head of Internal Audit will be responsible for establishing and maintaining the corporation's internal control framework, conducting risk assessments, and ensuring compliance with regulatory requirements. IRFC, as a Schedule A public sector undertaking under the Ministry of Railways, operates under stringent financial oversight requirements that make this role particularly significant. Internal audit functions at public sector financial institutions have gained increased importance following regulatory reforms introduced by the Reserve Bank of India and the Ministry of Finance over the past several years. These reforms emphasize independent audit mechanisms and stronger governance structures. ## Eligibility Requirements According to the recruitment notice, candidates must meet specific educational qualifications and professional experience criteria. The position typically requires chartered accountancy or equivalent professional qualifications, along with substantial experience in audit, risk management, or financial control functions within the banking or financial services sector. Age limits and relaxations follow standard government of India norms for public sector recruitment, with provisions for reserved categories as per constitutional requirements. ## Application Process Interested candidates can submit applications through IRFC's official recruitment portal. The application process requires submission of educational certificates, professional credentials, experience documentation, and other supporting materials as specified in the detailed recruitment notification. The corporation has set September 30, 2026, as the final date for receipt of applications, giving prospective candidates approximately five weeks to prepare and submit their documentation. ## About IRFC The Indian Railways Finance Corporation was established in 1986 as a dedicated financing arm for the Indian Railways. The company raised ₹4,633 crore through its initial public offering in January 2021, marking one of the significant public sector listings in recent years. IRFC's primary business involves borrowing funds from domestic and international markets to finance the rolling stock requirements of Indian Railways. The corporation enjoys a AAA credit rating from domestic rating agencies, reflecting its strong backing from the central government and stable cash flows from lease rentals paid by the railways. As of March 2026, IRFC's loan book exceeded ₹4.5 lakh crore, making it one of India's largest non-banking finance companies by asset size. The organization's financial operations require robust internal controls and audit mechanisms to ensure compliance with lending norms and financial regulations. The recruitment of a senior audit professional comes at a time when public sector financial institutions face increasing scrutiny over governance standards and risk management practices. The position will play a crucial role in maintaining IRFC's operational integrity and regulatory compliance as it continues to expand its financing activities for railway modernization projects.

By Catherine Lloyd