Chief Finance Officer - BFSI

WSDS-initiate is a development oriented MFI, receiving donor funding with the aim of alleviating rural poverty. It started as a development support organization and later transformed itself into a microfinance institution to reach the poor, especially in the remote and less developed regions of north eastern India. In the last one decade since its inception, WSDS-initiate has emerged as one of the leading microfinance institutions of Manipur. Its administrative office is located at Gollut Gens, New Lambulane, Imphal-East with its registered office at Motbung in Senapati District. It primarily operates in areas where the mainstream approaches and institutions often fail to reach. It is a relatively young organization established in the year 1989 under the Societies Registration Act, 1860.

Basic Function: The Chief Finance Officer (CFO) position is accountable for the administrative, financial, and risk management functions of the company, which includes the development of a financial and operational strategy and metrics tied to that strategy, the ongoing development and monitoring of control systems designed to preserve company assets and the accurate reporting of financial results. Principal accountability include:

Planning :

- Assist in formulating WSDS's future direction and supporting tactical initiatives

- Monitor and direct the implementation of strategic business plans

- Develop financial and tax strategies

- Manage the capital request and budgeting processes

- Develop performance measures that support the company's strategic direction

Operations :

- Participate in key decisions as a member of the executive management team

- Monitor daily settlement of recoveries vis-a-vis their Banking transactions

- Maintain strong relations with all members of the management team

- Manage the accounting, human resources, investor relations, legal, tax, and treasury departments

- Oversee the financial operations of subsidiary companies and foreign operations

- Manage any third parties to which functions have been outsourced

- Oversee the company's transaction processing systems

- Implement operational best practices

- Oversee employee benefit plans, with particular emphasis on maximizing cost-effective benefits packages

- Supervise due diligence of acquisitions and negotiate acquisitions

Financial Information :

- Oversee the issuance of financial information

- Personally review and approve all filings with the regulators

- Report financial results to the board of directors

Risk Management :

- Understand and mitigate key elements of the company's risk profile

- Monitor all open legal issues involving the company, and legal issues affecting the industry

- Construct and monitor reliable control systems

- Maintain appropriate insurance coverage

- Ensure that the company complies with all legal and regulatory requirements

- Ensure that record keeping meets the requirements of auditors and government agencies

- Report risk issues to the audit committee of the board of directors

- Maintain relations with external auditors and investigate their findings and recommendations

Funding :

- Monitor cash balances and cash forecasts

- Arrange for debt and equity financing

- Invest funds

Third Parties :

- Participate in conference calls with the investment community

- Maintain banking relationships

- Represent the company with investment bankers and investors

Desired Qualifications :

- The candidate Chief Financial Officer should have a Master's degree in Business Administration (Finance) from reputed business schools or be a Chartered Accountant with 5+ years of progressive responsible experience for a major company or division of a mid-size corporation. Should have experience in partnering with an executive team, and have a high level of written and oral communication skills. Preference will be given to candidates with an MBA in Finance from reputed Business Schools or Chartered Accountants.