Senior Executive/ Manager – Finance And Accounts (Embassy Academy)

Financial Planning and Analysis:

• Manage the schools 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 schools 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 schools financial practices are compliant.
• Implement and monitor internal control systems to safeguard the schools 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:

• Bachelors 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.