VP - Finance & Accounts

Ahmedabad, Gujarat, India Full-time

Role Description

The incumbent in this position is required to provide strategic recommendations to the finance lead based on financial analysis & projections, cost accounting and allocation and revenue/expense analysis

Challenges

Streamlining systems and processes for effective, efficient flow of information between budgets, MIS and accounts, donor reporting, statutory as well as internal reporting requirements

Ensuring compliance under Companies Act, Foreign Contributions Regulation Act, Income Tax Acts and any other Acts as may be applicable from time to time to guarantee a fully compliant operating model for CIIE Initiatives and its affiliates.

Job Description 

Accounting and Administration:

  • Develop tools and systems such as dashboards to measure the above metrics and provide critical financial and operational information to finance head
  • Prepare and present financial utilization, and donor revenue and expense streams
  • Develop and document robust accounting policies and procedures. Ensure maintenance of appropriate internal controls and financial procedures at all times
  • Ensure timeliness, accuracy, and usefulness of financial and management reporting
  • Review all month-end closing activities including general ledger maintenance, balance sheet reconciliations, fixed asset verification and corporate/overhead cost allocation
  • Serve as final point of escalation for Accounts Receivable/Accounts Payable issues
  • Serve as a key point of contact for internal and external auditors; manage preparation and support of all internal and external audits
  • Manage any third parties to which the above functions have been outsourced
  • Overseeing finance function of section 8 company, an affiliate company of CIIE Initiatives 

 Finance Planning, Analysis and Internal Control:

  • Oversee long-term budgetary planning & cost management in line with CIIE’s strategic plan as well as develop department budgets and monitor against actual expenditures
  • Go through the Agreements/sanction orders - set-up accounts including opening of a bank account, creating project name, budget head, expense head in the accounting tool, in consultation with the project head
  • Train the accounting team and project team so that the accounting and expense requests are made in accordance with the project expenses
  • Create a process note and SOPs for the accounting team
  • Take a periodical review on whether the booking of expenses are happening as per the guidelines, and does not exceed the budget
  • Prepare/Manager Cash Flow Statements (CFS) on fortnightly/monthly basis for all the projects and forecasting
  • Ensure amounts reflected in CFS, books of accounts, and financial reports/ UCs provided to contributors/ donors are aligned
  • Prepare quarterly/yearly budget of the organization and make financial reports with analysis on various parameters
  • Produce accurate and timely financial statements for internal and external reporting
  • Ensure finance staff maintain records as per the relevant accounting standards as may be applicable
  • Mentor & guide the finance manager & the team providing staff coaching, development training and performance reviews
  • Manage accounting and finance activities including Payables, Receivables, Capital Accounts, purchasing and invoicing for sales transactions 
  • Oversee the monthly salary process for CIIE
  • Coordinate with management to continuously improve processes around accounting and finance as we scale
  • Ensure all staff and company contracts and agreements are updated and in place
  • Oversee cash flow, investment and asset management planning and ensure availability of funds as needed. Cash flow controls is to ensure that utilization is as per approved budget and also to ensure that any unutilized amounts in banks are shifted to fixed deposits

 Reporting to Donors:

  • Ensure timely and comprehensive reporting to donors, as outlined in contracts with donor agencies in coordination with donor relations associate
  • Ensure that expenses mapped under the right project head and budget
  • Facilitate donor audit and solve donor auditors queries
  • Reporting on Public Financial Management System (PFMS)  portal

Books closing, Finalization, Audit & Return Filing, and Income Tax Assessment:

  • Prepare and communicate monthly and annual financial statements
  • Prepare annual balance sheet and related annexure, provide necessary documents to auditors for filing of tax and ensure that tax returns of CIIEI and its affiliates are filed within due date with Income tax and other statutory authorities
  • Quarterly/annually return filing for FCRA transactions on MHA
  • Oversee audit and other statutory compliance activities and requirements
  • Reply to scrutiny notices received from income tax departments
  • Preparation of submissions/letters and cross-check data with the return filed with the department

Qualifications, skills and Competencies

  • A degree in Chartered Accountancy. An MBA Finance or CWA or M Com. would be a plus
  • At least 8-10 years post qualification experience is a must
  • Relevant experience in non-profit organization is essential
  • Led or part of senior team in Finance function
  • Should have strong knowledge of non-profit accounting and compliances mainly under FCRA, Income Tax, Companies Act and other Acts as may be applicable
  • Excellent analytical and abstract reasoning skills, plus excellent organization skills
  • Ability to work and manage operational, finance and accounting software packages
  • Excellent written and oral communication skills
  • Demonstrated leadership ability, team management, and interpersonal skills
  • Detail oriented and precise in presenting data and reports
  • Ability to set up, manage and take ownership of financial and administrative systems

Apply for this opening at http://CIIE.recruiterbox.com/jobs/fk01ae8?apply=true