Head of Internal Audit
Servotech Renewable Power System Limited
Job Description
1. Role Overview
Reporting line: Functionally to the Audit Committee of the Board; administratively to the Managing Director. This dual-reporting structure is deliberate — it protects the independence of the audit function from the operating functions it reviews.
Location: Delhi (HQ) with regular travel to Safiabad, Jhundpur and other plant/warehouse locations.
Job Purpose:
Build and lead a modern, technology-enabled internal audit and governance function spanning financial controls, procurement and Bill-of-Material (BOM) integrity, manufacturing process audit (New Product Introduction gates), and field/logistics controls. The mandate is to move the function from periodic, manual, post-facto review to real-time, SAP-integrated monitoring across all plants and functions — and to operate as a credible, independent governance layer for a listed company, not a clerical checking desk.
2. Key Responsibilities
Reporting line: Functionally to the Audit Committee of the Board; administratively to the Managing Director. This dual-reporting structure is deliberate — it protects the independence of the audit function from the operating functions it reviews.
Location: Delhi (HQ) with regular travel to Safiabad, Jhundpur and other plant/warehouse locations.
Job Purpose:
Build and lead a modern, technology-enabled internal audit and governance function spanning financial controls, procurement and Bill-of-Material (BOM) integrity, manufacturing process audit (New Product Introduction gates), and field/logistics controls. The mandate is to move the function from periodic, manual, post-facto review to real-time, SAP-integrated monitoring across all plants and functions — and to operate as a credible, independent governance layer for a listed company, not a clerical checking desk.
2. Key Responsibilities
- Design and implement real-time SAP-based control monitoring — BOM-vs-purchase variance, inventory movement, dispatch/GRN reconciliation — replacing manual/Excel-based post-facto checks.
- Build and own the internal audit governance framework: risk-based annual audit plan, audit-execution SOPs, maker-checker-approver structures, and escalation matrices.
- Own process and technical audit coverage across manufacturing (NPI gate audits — thermal/IP65 compliance logs), field operations (geofencing, dispatch integrity), and support functions (freight, procurement).
- Coordinate with external forensic and statutory auditors on joint or overlapping engagements; ensure internal audit findings and evidentiary trails meet a standard usable in external or forensic review if required.
- Report periodically to the Audit Committee on control gaps, remediation status, and fraud-risk indicators, maintaining functional independence from operational management.
- Own segregation-of-duties (SoD) design and enforcement across SAP roles and access rights, especially for high-risk transaction types (goods movement, invoice creation, dispatch approval).
- Lead root-cause investigations on flagged variances and observations, using a documented, evidence-based methodology — anchoring to independently verifiable records (customs, GST, bank/UPI data) wherever internal records alone would be insufficient.
- Build and maintain a live MIS/dashboard for variance tracking, audit-observation ageing, and control-effectiveness metrics for leadership review.
- Support listed-company obligations: Companies Act Internal Financial Controls (Section 134(5)(e)) reporting, coordination with statutory auditors on ICFR testing, and flagging matters with potential SEBI LODR disclosure relevance to Legal/Company Secretary — flagging only; the disclosure call itself sits with Legal/CS.
3. Qualifications & Experience
- CA / CIA / CISA or equivalent, with 10+ years in internal audit, including at least 4-5 years in a manufacturing/industrial or listed-company environment.
- Demonstrated experience building SAP-based or ERP-integrated audit and control frameworks — not solely Excel-based post-facto audit.
- Experience working alongside Big-4 or forensic audit teams on joint or overlapping engagements.
- Exposure to Internal Financial Controls (IFC) reporting for listed companies and direct Audit Committee interaction.
- Manufacturing or process audit exposure (quality gates, technical compliance logs) is a strong plus given Servotech's NPI and product-compliance requirements.
- Strong stakeholder management — able to hold ground with Procurement, SCM, Production and Finance heads while reporting independently to the Audit Committee/MD.
4. Key Competencies
- Analytical rigor and hands-on comfort with SAP/data tools — able to build dashboards, not just consume them.
- Independence and backbone — willing to escalate uncomfortable findings, including against senior functional heads, without being managed into silence.
- Investigative/forensic mindset — evidentiary discipline, chain-of-custody thinking, and the ability to design reconciliation methodologies that do not rely solely on records that could be internally manipulated.
5. KRA / KPI Framework
Key Result Area | Key Performance Indicator
Real-Time Control Architecture - SAP-based BOM-vs-Purchase variance dashboard live within 60 days of joining. ≥80% of manual/Excel reconciliations replaced by automated SAP-triggered checks within 6 months.
Audit Governance Framework - Risk-based annual audit plan presented to MD/Audit Committee within 45 days. Audit SOP (maker-checker-approver, escalation matrix, SoD design) documented and rolled out within 90 days.
Process & Technical Audit Coverage - NPI Gate Audit Log operational within 60 days, covering 100% of new product launches thereafter. Field Geofencing / dispatch-integrity report issued monthly from month 2 onward, on schedule.
Fraud-Risk & Control-Gap Remediation - Audit-observation ageing tracked and reported monthly. ≥90% of critical observations closed within 30 days of being raised. Zero repeat findings on previously closed items.
External / Forensic Audit Coordination - 100% of information requests from external or forensic auditors answered within agreed SLA. No Audit Committee escalation regarding Internal Audit's responsiveness to external engagements.
Governance & Independence - Quarterly Audit Committee presentation delivered on schedule. SAP access-rights / segregation-of-duties review of high-risk roles completed at least twice a year. Any independence or conflict-of-interest issue escalated within 5 working days.
Listed-Company Compliance Support - All control gaps with potential disclosure relevance flagged to Legal / Company Secretary within 48 hours of identification. Zero instances of an IFC-relevant gap surfacing first via external audit rather than internal audit.
