Deputy's key and locks found, following corruption (4-5)

I believe the answer is:

vice-chair

'following corruption' is the definition.
I know nothing about this answer so I cannot tell whether it can be defined by this definition.

'deputy's key and locks' is the wordplay.
'deputy' becomes 'vice' (I've seen this in other clues).
'key' becomes 'c' (I've seen this in other clues).
'and' means one lot of letters go next to another.
'locks' becomes 'hair' (I've seen this before).
'vice'+'c'+'hair'='VICE-CHAIR'

'found' acts as a link.

I've seen this clue in The Guardian.

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