Head of Internal Audit

Job Description
Head of Internal Audit
SRMB Steel

Location:

Kolkata, West Bengal | Corporate Head Office | On-site
Functional reporting:  Board / Audit Committee, as applicable
Administrative reporting:  Director | Employment:
Full-time

Qualification:

Chartered Accountant mandatory |

Experience:

15+ years post-qualification

About SRMB Steel
SRMB Steel draws on the SRMB Group's manufacturing legacy dating to 1951. SRMB Srijan Private Limited is an integrated primary steel producer with its head office in Kolkata and annual turnover exceeding ₹2,500 crore. Its products include TMT reinforcement bars and structural steel, with brands such as SRMB TMT, Real Edge, Real Edge Galva and Real Fabrica. Captive steel semis, modern production technology and quality testing facilities support the company's manufacturing operations.

The opportunity
We are seeking a senior internal audit leader and qualified Chartered Accountant to lead independent assurance across corporate and manufacturing operations. The role will evaluate governance, risk management and internal controls, identify weaknesses and recommend practical improvements. It requires strong knowledge of steel manufacturing processes, sound professional judgement and the ability to communicate significant issues directly to senior leadership and the Board or Audit Committee, as applicable.

Key responsibilities
Audit strategy and governance
Develop the internal audit charter, audit universe and annual plan based on business risks. Secure appropriate approval of scope, resources and priorities, and update coverage as risks change. Maintain audit independence and unrestricted escalation of significant concerns, while preserving management ownership of controls and corrective actions.

Manufacturing and operational audits
Audit material consumption, production reconciliations, yield, process losses, power and fuel usage, maintenance and job work. Test weighbridge, gate entry, dispatch, scrap and by-product controls. Examine discrepancies between physical movements, production records and ERP entries to identify leakage, control gaps and operational risks.
Key responsibilities continued

Procurement and contractor controls
Review vendor onboarding, competitive sourcing, purchase approvals, pricing and contract terms. Test purchase orders, goods receipt notes, invoices and payments for accuracy and authorization. Assess conflicts of interest, duplicate vendors, contractor bills and service certification, including risks of collusion or irregular payments.

Inventory and fixed assets
Evaluate controls over raw materials, work in progress, finished goods, stores, spares and scrap. Perform independent sample checks and surprise verification where warranted. Review stock reconciliations, ageing, valuation, transaction cut-off, inter-unit transfers, asset records and disposal controls, with follow-up on shortages or unexplained adjustments.

Sales and distribution controls
Audit the order-to-cash cycle, including customer credit limits, dispatch, invoicing, collections and overdue balances. Review dealer and distributor reconciliations, discounts, rebates, sales schemes, returns and freight claims. Test approval controls and identify revenue leakage, unauthorized concessions and inconsistencies in commercial settlements.

Financial controls and compliance
Assess the design and operating effectiveness of internal financial controls. Review journals, bank reconciliations, cash, payroll, expenses and related-party transactions. Evaluate processes for applicable tax and statutory compliance, coordinate with statutory auditors and compliance specialists, and report exceptions with supporting evidence and clear risk ratings.

Capital projects and expenditure
Review project approvals, tendering, contractor selection, budgets, milestone payments, variations and retention amounts. Test capitalization, asset commissioning and project closure records. Identify unsupported expenditure, contractual deviations and control gaps in expansion, modernisation and major maintenance projects, and verify management responses.

Technology controls and audit analytics
Use ERP data and analytics to identify duplicate payments, unusual transactions, pricing exceptions and inventory anomalies. Review access rights, segregation of duties, master data changes and audit trails. Coordinate specialist reviews of IT controls, cybersecurity and business continuity where needed, with secure handling of audit data.

Fraud risk and investigations
Assess…