Head - Finance - Education

POSITION DESCRIPTION:

Job Description Head of Finance:

- The position will be part of the core leadership team, responsible for driving the Finance, Accounts, Secretarial, and Legal functions. Being a member of the top management team of the institution, the incumbent will participate in developing and evolving the strategic financial plans and ensuring their successful implementation.

- The institution is striving for accelerated growth and is preparing to modernize and optimise its operations.

- The person will be responsible for driving the organisation's strategy with an emphasis on governance, efficiency, sustainability, and performance.

- Additionally, the role will support the governing board with financial insights for better strategy execution and decision-making.

Please take note of the following requirements:

Qualifications: Must be a Chartered Accountant (CA) or hold an MBA in Finance from a reputable institution.

Experience: POSITION DESCRIPTION A minimum of 15 years of experience in finance, with at least 5 years as Head of Finance, CFO, or in an equivalent role. Additionally, 3 years of experience in the education sector, preferably with international curriculum schools in India.

Location: The candidate must currently reside and work in India and be open to relocating to Bangalore.

Accommodation: Please be aware that this is not a residential school, so accommodation will not be provided.

Key Responsibilities:

Strategic:

- Provide strategic leadership to the overall Finance and Legal functions, ensuring they are properly organized, staffed and developed.

- Develop tools and systems to provide critical financial and operational information to the Governing board / Finance Committee and make actionable recommendations on both strategy and operations

- Assist in establishing monthly, quarterly and yearly financial objectives Executive management

- Will serve as a member of the management leadership team

- Participate in key decisions pertaining to strategic initiatives, operating model, and operational execution

- Assist in the elaboration of organization policies, code of conduct

- Advice the Board on strategic issues and corporate planning and provide inputs towards major

/ critical financial / legal decisions in terms of financial viability, current financial position, risk/return metrics and evaluation and covenants restricting future strategic decisions

Financial Planning and Analysis:

- Overview preparation & monitoring of budgets

- Submit regular financial reports to the Governing board, including monthly profit and loss by each entity (Actual vs Budget).

- Implement thorough analysis of financial results, (level of profitability, appropriateness of costs incurred, adequacy of the fee structure).

- Overview financial business plans and feasibility studies

- Performance review - review procedures relating to the preparation of the institution's plans / budgets / forecasts and controls pertaining to key finance activities, monitor adherence to the relevant processes, policies and take timely action in case of deviations.

- Operational and process improvement

- Identify areas of improvements in all operations of the institution and set systems and processes to control and manage the financial and commercial operations through appropriate financial management and reporting systems, controls, procedures, and processes. Lead cost control and optimization initiatives.

- Coordinate and direct preparation of the annual capital and operational budgets, provides financial forecasts and variance analysis in coordination with executive leadership team and present budgets to the governing board.

- Provide budget and contract analysis and monitor contract compliance.

- Oversee long-term budgetary planning and costs management in alignment with institution's policy

- Oversee cash flow planning and ensure availability of funds as needed and investment guidelines Accounting and Administration

- Enhance financial and accounting systems, operational processes and internal controls.

- Overview daily/weekly/monthly closing activities including customer, bank reconciliations.

- Oversee preparation of monthly, quarterly and yearly financial statements in compliance

- Responsibility for all tax related matters such as Income & indirect taxes, GST, import duty, transfer pricing, etc.

- Supervise the payroll administration

- Develop and manage all financial processes, in line with the business strategy, plans and processes, while ensuring adequate financial controls, discipline, and statutory compliance.

- Prepare and participate in audits including but not limited to, Statutory Audit, Internal Audit, physical verifications of assets, etc.

- Develop policies and procedures on purchasing activities and prepare vendor and management reports analysing purchasing practices.

- Create and ensure adherence of organizations policies including but not limited to fee policy, subsidy policy, billing, and collections policies.

- Ensures timely and accurate reporting of financial and management reporting for management and board.

- Responsible for all aspects of finance, accounting and compliance with emphasis on both:

a. Internalprocessmanagementandcontrol,includingreporting,accounting,taxation, audit requirements, statutory compliance, operational management.

b. External stakeholder management -Statutory Auditors, Government Bodies and Departments, Financial Institutions, etc.

Legal and Compliance:

- Keep updated on the State Education Act and other laws applicable in running an educational institution. Take expert advice where relevant.

- Draft and/or review legal letters, contracts and agreements and monitor legal obligations under agreements to ensure compliance, as requested.

- Research and prepare legal opinions on various civil matters including claims for compensation against the Company.

- Maintain, a database of the status of all court matters involving the organization.

- Ensure compliance with all the Laws, Acts and rules applicable to the school, including but not limited to Karnataka Education Act, Income Tax Act, etc.

- Manage the legal cases from or against the organization including but not limited to Tribunal, Consumer court, and High court.

- Manage the panel of Lawyers for legal services

- Seek opinions from experts where deemed necessary.

- Manage Trademark Compliance, registrations, and Valuations and raise objections where necessary.