General Manager - Internal Audit - Real Estate

Role Purpose:

To provide independent and objective assurance to the Chairman and senior leadership on the effectiveness of internal controls, risk management, and governance processes across all verticals of the Group. The Head of Internal Audit acts as the guardian of financial discipline, process integrity, and compliance, ensuring that the company operates efficiently, ethically, and with minimal risk exposure.

Key Responsibilities:

1. Governance and Planning:

- Develop and execute a risk-based annual internal audit plan, aligned with the Group business priorities.

- Review critical business functions such as finance, construction, procurement, sales, post-sales, HR, and IT systems.

- Present the annual plan and quarterly updates directly to the Chairman.

2. Internal Audit Execution:

- Conduct operational, financial, and compliance audits to assess control adequacy and process efficiency.

- Identify control weaknesses, irregularities, or inefficiencies; recommend pragmatic corrective actions.

- Lead special audits or investigations in cases of suspected fraud, leakage, or non-compliance.

- Ensure that management implements corrective actions within defined timelines.

3. Financial & Operational Oversight:

- Verify accuracy and integrity of financial reporting, project cost tracking, and vendor payments.

- Review controls around budget approvals, project cash flows, and procurement processes.

- Audit customer receivables, collections, and credit policies for robustness and risk exposure.

4. Risk & Compliance Coordination:

- Work closely with the Chief Risk Officer to align audit priorities with top enterprise risks.

- Ensure statutory and regulatory compliance under Companies Act, RERA, GST, and income tax laws.

- Recommend process automation or policy updates to strengthen risk management.

5. Reporting & Communication:

- Submit quarterly audit reports and executive summaries to the Chairman, highlighting:

1. Key observations and risk areas

2. Root causes and control gaps

3. Action plans and follow-up status

- Maintain professional independence and ensure confidentiality of all findings.

6. Team & Vendor Management:

- Build and manage a lean internal audit team with domain specialists.

- Coordinate with external audit firms for co-sourced audits.

- Provide training and promote a culture of accountability and control awareness across departments.

Key Performance Indicators:

- Audit Coverage - percentage of planned audits completed vs. approved plan

- Control Effectiveness - Reduction in recurring audit observations

- Timeliness - Average turnaround time for audit closures

- Governance Reporting - Clarity, accuracy, and timeliness of reports to Chairman

- Value Creation - Cost savings or process improvements from audits

- Compliance - Zero major non-compliances or regulatory penalties