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, RealEdge, RealEdge Galva and RealFabrica. 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 fraud risks and conduct authorised reviews of suspected irregularities or whistleblower matters. Preserve evidence, document facts objectively and maintain confidentiality. Coordinate with legal, HR and other specialists as appropriate, escalate significant findings promptly and recommend measures to address the underlying control weaknesses.

Audit reporting and follow up

Issue clear reports covering evidence, root causes, risk exposure and practical recommendations. Agree action owners and deadlines with management, independently validate closure and escalate overdue or recurring issues. Lead the audit team, review working papers, manage specialist support and maintain a programme for audit quality and improvement.

Candidate profile

- Mandatory qualification:



Qualified Chartered Accountant (CA) from the Institute of Chartered Accountants of India. Only qualified CAs are eligible to apply.
- 15+ years of post-qualification experience in internal audit, risk assurance or related controls roles, including at least 5 years leading audit teams or the internal audit function.
- Substantial hands-on audit experience in large manufacturing organisations with multiple operating units. Steel, metals or related process manufacturing experience is strongly preferred.
- Solid understanding of plant processes, industrial costing, inventory, procurement, sales and distribution, capital expenditure and internal financial controls.
- Ability to plan audits based on risk, test controls, evaluate evidence, identify root causes and present clear findings to Directors, senior management and governance committees.
- Experience with ERP environments, advanced Excel and audit analytics. Ability to analyse large transaction datasets and supervise specialist IT audit work when required.
- A record of leading audit teams, handling sensitive reviews and validating corrective actions. Integrity, independence, professional scepticism and confidentiality are essential.
- CIA, CISA or relevant forensic audit credentials will be an advantage, in addition to the mandatory CA qualification. Willingness to travel regularly to plants and business locations is required.

Additional eligibility requirements

- Applicants working in consulting roles or as independent consultants, self-employed professionals, freelancers or in independent practice are not eligible for this position.
- Candidates with frequent changes of employer will not be considered. A consistent record of tenure across previous roles is required.

Measures of success
- Timely delivery of the approved audit plan, with adequate coverage of significant business risks.
- Clear, evidence-based reports with actionable recommendations and well-supported risk ratings.
- Verified closure of significant findings and fewer overdue or recurring control weaknesses.
- Demonstrable improvements in control effectiveness and reduced exposure to loss or leakage.
- Consistent audit quality, stronger analytics and effective development of the audit team.

Why join SRMB Steel

Lead the internal audit function of an established steel manufacturing business, gain visibility across corporate and plant operations, and contribute directly to stronger governance and operational discipline.

How to apply

Qualified Chartered Accountants may apply through LinkedIn or email an updated CV to [email protected] with the subject “Application for Head of Internal Audit - SRMB Steel”. Please include your current location, notice period and a brief summary of relevant manufacturing audit leadership experience.

📌 Head of Internal Audit (Kolkata)
🏢 SRMB Steel
📍 Kolkata