Embassy Group | Senior Executive/ Manager – Finance and Accounts

6 days ago

bangalore, India Embassy Group Full time

Financial Planning and Analysis:

  • Manage the school’s annual budget, ensuring alignment with the strategic goals.
  • Assist in the preparation of detailed financial forecasts and projections for short-term and long-term planning.
  • Conduct financial analysis to identify trends, variances, and opportunities for cost savings or revenue enhancement basis research, competitor data and best practices followed.
  • Proactively support School development and expansion plans and projects
  • Participate in strategic planning sessions, providing financial insights and recommendations.
  • Provide monthly financial performance reports to the school leadership team.


Accounting and Financial Reporting:

  • Ensure completion of daily accounting activities, including accounts payable, accounts receivable, fixed assets, payroll, payments, and general ledger entries.
  • Ensure accurate and timely preparation of monthly, quarterly, and annual financial statements in accordance with GAAP or relevant accounting standards.
  • Ensure timely fee invoicing and collections by collaborating closely with the involved stakeholders.
  • Timely and accurate reconciliations of the identified Key and non-Key accounts
  • Coordinate with external and internal auditors during annual audits, providing all necessary documentation and explanations.
  • Maintain accurate financial records and documentation for auditing purposes.
  • Ensuring accuracy and efficiency using lean methods and automation of processes as appropriate


Fees Management:

  • Develop & implement effective fee collection procedures to minimize outstanding dues.
  • Maintain up-to-date records of fee payments & outstanding dues.
  • Handle parent inquiries on fee payment plans providing clear & courteous communication.
  • Address financial concerns of the parents & offer solutions on financial aid offered by the third party- grey quest.
  • Assist drafting the communication around deadlines, policies & procedures related to tuition & transport fees to parents / guardians


Budget Management:

  • Monitor and control expenditures in accordance with the approved budget, ensuring financial discipline.
  • Identify and report budget variances and provide actionable recommendations for corrective measures.
  • Collaborate with department heads to review budget performance and update forecasts.
  • Prepare budget reports and presentations for the school board and other stakeholders.
  • Monitor and control expenditures in accordance with the approved budget.
  • Identify and report variances to the management team.
  • Provide recommendations for budget adjustments as needed.


Cash Flow Management:

  • Manage the school’s cash flow to ensure sufficient liquidity for operational needs and financial stability.
  • Oversee banking relationships, manage bank accounts, and ensure timely reconciliation of bank statements.
  • Implement effective cash management strategies to optimize the use of available funds.
  • Prepare cash flow forecasts to anticipate future financial needs and challenges.
  • Ensure sufficient funds are available to meet ongoing operational requirements.


Financial Policies and Procedures:

  • Develop, implement, and maintain comprehensive financial policies and procedures to ensure robust internal controls.
  • Ensure compliance with local, state, and federal financial regulations and reporting requirements.
  • Conduct periodic audits and assessments to evaluate the effectiveness of internal controls and identify areas for improvement.
  • Implement corrective actions and best practices to strengthen financial governance.
  • Develop and implement financial policies, procedures, and internal controls.
  • Ensure compliance with local, state, and federal regulations.
  • Conduct periodic audits to assess financial processes and controls.


Statutory Compliance and Controls:

  • Ensure timely and accurate filing of all statutory financial reports, including tax returns, grants, and regulatory submissions not limiting to GST, TDS returns.
  • Monitor compliance with statutory requirements related to payroll, benefits, and other financial obligations.
  • Stay updated with changes in financial regulations and ensure the school’s financial practices are compliant.
  • Implement and monitor internal control systems to safeguard the school’s assets and ensure financial integrity.


Preparation of Standard Operating Procedures (SOPs):

  • Coordinate with Business Manager to prepare policies, proposals, and reports by analyzing financial impact and operational challenges.
  • Develop and document Standard Operating Procedures (SOPs) for all financial processes and activities.
  • Ensure SOPs are clear, comprehensive, and accessible to relevant staff.
  • Ensure the ERP integration is in line with the SOPs and make frequent checks/updates as required.
  • Regularly review and update SOPs to reflect changes in regulations, technology, and best practices.
  • Train staff on SOPs to ensure consistent and accurate application of financial procedures.


Staff Management:

  • Supervise, mentor, and develop finance and accounting staff, fostering a collaborative and high-performing team environment.
  • Conduct regular performance evaluations, provide feedback, and identify professional development opportunities.
  • Ensure staff adherence to financial policies, procedures, and ethical standards.
  • Provide training and support to enhance the financial literacy of non-finance staff.
  • Supervise and mentor finance and accounting staff.
  • Conduct performance evaluations and provide professional development opportunities.


Stakeholder Communication:

  • Communicate financial information clearly and effectively to various stakeholders, including the Governing Council, School Leadership, and staff.
  • Prepare and present financial reports and analyses at board meetings and other relevant forums.
  • Respond to financial inquiries from stakeholders promptly and professionally.
  • Collaborate with external partners, including auditors, consultants, and financial institutions.
  • Communicate financial information clearly to various stakeholders, including the school board, management, and staff.


Essential Requirements:

  • Bachelor’s degree/Post graduation in accounting or related field.
  • 3-6 years of experience in accounting.
  • Strong understanding of financial management principles, practices, and statutory requirements
  • Proficiency in MS Office and accounting software.
  • Excellent organizational, interpersonal and communication skills.
  • Strong analytical, critical thinking and problem-solving skills.
  • Ability to work independently and as part of a team.
  • Attention to detail and high level of accuracy.
  • Willingness to travel as required.

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