Website:
iitm.ac.in
Job details:
Location: IITM CODE, IC&SR Building, IITM Campus
Experience: 10-15 Years
Qualification:
Bachelor’s/master’s degree in finance or accounting and Chartered Accountant (CA), with 10 to 15 years of progressive experience in corporate finance, financial planning, or accounting management
Position Summary
- Overseeing the financial activities and strategies of IITM CODE
- Managing the budget and financial resources of the centre. This will entail the budgeting for various programs, managing funds, and ensuring efficient use of resources.
Key Responsibilities
• Financial planning and strategy: developing and implementing the IITM CODE’s financial strategies, including long-term financial planning, budgeting, and forecasting.
• Financial reporting: ensuring accurate and timely financial reporting to internal and external stakeholders including education authorities. This entails preparing financial statements, regulatory compliance, and communicating financial results.
• Financial analysis: conducting financial analysis to provide insights into the centre’s performance, profitability, and efficiency, including assessing the financial impact of business decisions.
• Financial audits: Managing financial audit by collaborating with internal departments, CAG and CSR donor appointed external auditors
• Compliance and governance: ensuring compliance with financial regulations and internal governance policies, including implementing and maintaining effective internal controls.
• Strategic decision support: providing financial insights and recommendations to support strategic decision-making by the executive team and the board members
Other responsibilities:
• With educational institutions often receiving funding from government sources, the Head of Finance must ensure compliance with regulations related to the use of these funds.
• In addition to government funding, there are tuition fees and other revenue streams. Must manage these income sources, set tuition fees, and develop strategies to enhance financial sustainability.
• Managing and investing endowment funds to support the institution's long-term financial health.
• Collaboration with Academic Leadership to align financial strategies with the institution's educational goals.
• Financial risks, such as fluctuations in enrollment and changes in government funding has to be identified and risks to be mitigated to ensure the stability of the institution.
Preferred Experience
Experience in research institutions, technology parks, universities, or government-linked entities will be preferred.
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