- The Chief Financial Officer will be responsible for overall Strategy and Management of Financial; Accounting; Compliance and other areas.
- S/he will be heading the functions of Finance; Accounting; Governance; Statutory Compliances; Managing the Budgets; Controls; Cash Flow; Fund Management; Investments; Projections; Audits; Adherence to Board / Audit Committee Requirements; Financial well-being; Productivity Management; Performance Management; Annual Budgets and Controls; Annual Statutory and Internal Audits; Process Audits; Financial Projections and People Management etc.
- S/he will be a senior member of the Management and work very closely with all Leadership Team Members and Board Members in ensuring financial discipline and governance for the Foundation.
BUDGETING & FINANCIAL PLANNING & ANALYSIS (FPA) :
- Formulating budgets and conducting variance analysis to determine difference between projected & actual results and implementing corrective actions and cost controls.
- Establishing a strategic cost management system for monitoring various overheads and devising product costing techniques.
- Generating various MIS reports & monitoring movement of key business indicators viz. Debtors Control & Fund Flow Management, costs & inventory management to facilitate the decision-making process.
- Financial planning & analysis, Budgeting & Finance control: Create, coordinate, and evaluate the financial programs of the foundation and implement sound financial planning, budgeting, tax planning, and asset management practices.
- Formulating Annual Budgets (Operating and Capex) across the LLF Programs.
- Review on a periodic basis financial performance and provide Forecast for the year; Provide scenario analysis for various options / strategies provided by management.
- Developing mitigation strategy of projects risk through project short term & long-term liquidity requirements.
FUND MANAGEMENT & FINANCIAL ACCOUNTING :
- Screening new projects from pre-sanctioned stage and conducting feasibility studies to determine the financial viability of new ventures, projecting cash flow and growth opportunities.
- Liaising with financial institutions and Banks for raising fund and non-fund-based facilities at favorable terms to meet working capital & term loan requirements for the projects. Dealing with banks on pre and post sanction formalities and routine matters based on Organizational needs.
- Capital expenditure plan and analyzing the variance, if any.
- Fund position on a regular basis to ensure proper and effective utilization of available resources to maximize returns.
- Directly over-arching management of working capital & project capital ,keeping in mind requirements of various stakeholders in the foundation.
- Preparation of Financial Modeling, Project Reports for new projects & Expansions, Manage all activities connected to funding tie-up & financial closure, up to disbursement.
- Liaison with regulatory authorities for sanctions & approval.
- Cash Credit limit operations for Stock and Book Debts, Drawing power adjustments, if any.
- Monitoring sanctions and disbursement of non-fund-based limits like LCs, BGs etc., Medium-and long-term loan operations, Re-schedule Plans and Loan Disbursements.
- Designing and implementing systems & procedures; supervising the consolidation of group accounts and financial statements as per Indian standards.
- Analyzing Financial Statements, viz. Ratio Analysis, Fund Flow and Cash Flow Statement; involved in Inventory Control, Stock Aging Analysis and Store Accounting.
- Compliance of the Accounting Standards applicable to Foundation & Trusts and Finalization of accounts in accordance with Indian GAAP, US GAAP and IFRS.
- Leadership in closure of month, quarter and year end accounting and limited reviews.
AUDIT MANAGEMENT :
- Performing analytical review of financial statements and evaluation of internal control systems for carrying out internal audits.
- Ensuring maintenance of proper records as per the requirements for audit and finalization of accounts within time bound schedules.
- Providing relevant data as required by the concerned auditors.
- Oversee Statutory and Internal audit obligations. Interface and address Audit Committees and Board requirements accordingly.
- Leading the team for completion of Audit of all accounts and ensures that accounts are audited and signed within first month following closure of books.
- Coordinating the internal audits and assisting Management in review of internal audit reports.
- Assisting the Management in review of statutory accounts.
- Liasoning with statutory/ internal auditors for timely completion of audits, reviews, review and implementation of audit observations.
COSTING & MANAGEMENT ACCOUNTING :
- Compiling and preparing cost and performance reports as per cost accounting records rule (CARR), cost benefit analysis and critical analysis of cost reports, inventory management.
- Maintenance of all costing records as may be appliable to each Program including cost per child; etc.
- CostControlthroughBudgetarycontrol,Standardcostingandvarianceanalysis.
- Designing the advanced costing techniques like Activity Based Costing, Target Costing,
- Developing the cost centers and analysis of the expenditure cost center wise.
- Designing and execution of profit protection process in conjunction with cost reduction activity.
SYSTEMS DEVELOPMENT & STRATEGIC :
PARTNERSHIP :
- Preparation of Income & Expenditure Review for Management on a monthly, quarterly and annual basis.
- Presentation of Strategic business review on monthly, quarterly to the Management & Board.
- Assist the Management in decision making process involving financial implications or otherwise.
- Develop strong business relationships with the business partners and other key players to obtain insights into business needs.
- Assess and develop alternative strategies to minimize overall Foundation Tax and cost saving opportunities.
- Advice on hedging strategies for Forex, optimal cash management investment of surplus funds.
- Representation / co-ordination with tax departments, banks, auditors, insurance companies etc.
- InterfacewithotherNGOsonfinancerelatedmatters.Representthefoundation externally to government agencies, funding agencies, and the general public, as and when required and authorized.
- Conceptualize, create and implement a strong risk management function and culture within the foundation.
- Serve on planning and policy-making committees
- Studying and analyzing the processes and developing new systems commensurate with the requirements.
- Implementing new procedures and systems resulting in increase of income of the foundation and reduction in operational expenses.
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