Head of Finance & Accounts

Job Description

The Head of Finance & Accounts is a key position responsible for overseeing all aspects of accounting, audits, financial reporting, taxation, treasury operations, and payroll functions. The role involves ensuring accurate financial management, timely compliance with statutory requirements, Corporate Tax and efficient functioning of the Finance & Accounts department. The position reports to the Chief Financial Officer and works closely with internal teams, statutory auditors, consultants, and regulatory bodies. Hierarchical position Managing Director Chief Financial Officer Head of Finance & Accounts Manager Accounts & Finance Deputy Manager Accounts & Finance Executive - Accounts & Finance Result areas of the job I. Implementation of strategy - Support the implementation of financial strategies and internal financial controls aligned with business objectives. - Contribute to relevant working groups and finance-related planning activities. II. Operations of the organization - Analyze, develop, maintain and ensure compliance with policies, procedures and guidelines for own discipline while considering the business needs. - Act as functional expert or liaison with managers, advise and support them concerning relevant matters relating to own discipline, including the effective application of policies, procedure and / or guidelines. - Contribute to the implementation of processes relating to own discipline within Oikocredit and carry out the work within the assigned work field. - Provide insights at request or at own initiative regarding quantitative and qualitative developments by means of periodical and ad hoc reports and / or analysis. - Build and maintain a network of relevant (internal and external) stakeholders. - Collaborate and cooperate across departments in projects, knowledge sharing and process optimization. III. Governance and Compliance - Ensure timely submission of reports to regulatory authorities, lenders, auditors, and Oikocredit International (Parent entity). - Coordinate with internal and external auditors for statutory and internal audits. - Maintain regular communication with stakeholders regarding financial performance and compliance. IV. Fund Raising and Investor Relations - Identify fund raising opportunities to support business growth, including through debt and other financial instruments. - Prepare financial documents and proposals required by prospective and existing lenders/investors. - Coordinate due diligence, respond to lender queries, and ensure timely compliance with financial covenants. - Maintain regular communication with lenders and rating agencies. Detailed responsibilities of the Head – Finance & Accounts: I. Accounting: to oversee and perform following accounting functions - Posting of payment and receipt entries into accounting system (Tally) - Reconciliation of all ledger balances - Posting of all adjustment entries - Preparation of Fixed assets register - Reconciliation of Income, Outstanding PF and provisioning based on ECL model b/w local accounting system (Tally) and E-Front (ERP). - Finalization of trail balance, P&L, B/S and Cash Flow statement as per Ind AS. II. Audits: to oversee and perform following audit functions - Statutory audit of financial year accounts - Audit of calendar year accounts for consolidation of accounts with Parent purpose - Internal Audits - Tax Audit of the Company - Annual GST audit - Transfer Pricing audit - Audit of annual accounts of gratuity & Superannuation trusts. III. Corporate tax matters: to oversee and perform following corporate tax functions - Assessment of Advance Tax liability & Payments - Reconciliation of tax receivables b/w accounting system and tax report (26AS) - TDS payments and filing of tax returns periodically - Compilation of information required to submit tax authorities on account of tax assessments/Appeals filed with Tax tribunals. - Assessment of GST liability and payment - Filing of GST returns - Filing of annual income tax return of company - Submitting information required to tax consultant with respect to tax appeals filed by the company. IV. Treasury & Finance operations: to oversee and perform following treasury & finance functions - Review and verification of all bank and cash payments - Review of vendor invoices & payments - Updating of receipts & disbursements (R&D) statement - Preparation of repayment schedules for all loan contracts - Payments to lenders as per repayment schedules - Classification of interest & instalment payments to OI with respect to ECB made by OI. V. Management support functions: to perform following tasks - Support in Preparation of budgets and variance analysis - Business plans - Funding proposals to lenders - ALM reports - Statutory compliances VI. Fund Raising - Prepare and present funding proposals to banks and financial institutions. - Liaise with lenders for negotiations, drawdowns, and documentation. - Maintain compliance with lender requirements, including regular financial and performance updates. VII. Payroll management: to oversee and perform following payroll functions - Processing of employee salaries - Assessment of tax liability of each employee based on annual salary income and tax exempted savings & investments. - Filing of TDS returns with respect to employee salary payments. - Professional tax payments related to staff. VIII. Reporting matters: to oversee and perform following reporting functions - Regulatory compliances - Reporting to Oikocredit (OI): - Preparation of monthly results of company - Submission of R&D statement - Reporting to RBI – ALM, Quarterly financials, SMA reporting - Reporting to lenders – Performance reports, Book debts - Reporting to Rating agencies. IX. Other duties & responsibilities assigned by the CFO time to time. Education and experience - CA or an equivalent professional qualification - Strong experience in Ind AS and preparation of financial statements like P & L, Balance sheet, and Cash Flow. - Hands-on experience with statutory, tax, internal, and transfer pricing audits. - Proven expertise in managing corporate tax matters such as advance tax, GST filings, income tax returns, and TDS. - Experience in treasury management, including cash flow management, payments to lenders, and loan repayment schedules. - Solid knowledge of payroll management, including employee tax assessments and compliance. - Experience in reporting to regulatory bodies, such as RBI and rating agencies, and corporate reporting to lenders and parent organizations. - Experience in the financial services sector, particularly with NBFCs (Non-Banking Financial Companies) or similar industries. - Familiarity with reporting tools and practices, including ALM reports and regulatory reporting. - Expertise in accounting software like Tally. - Proficiency in financial systems and tools, including reconciliation platforms like E-Front. Competences - Initiative and Ownership (Shared Oikocredit competence) - Analytical Thinking - Cooperation (Shared Oikocredit competence) - Attention to Detail - Written communication - Flexibility - Client and service orientation - Integrity - Planning and organising - Functional contacts - Chief Financial Officer - Finance & Accounts Team - Internal Stakeholders across Departments Additional remarks - Affinity with development issues and / or socially relevant organizations - Willingness to travel - Any other work assigned by the CFO / Managing Director.