Assistant Director - Finance & Accounts

Company Name - Great Lakes Institute of Management

Department - Finance and Accounts

Location - Perungudi, Chennai City (Expected to visit campus once a week)

Hob Title - Assistant Director, Finance & Accounts

Reporting to - Group Chairman & Head of Institute

Job Purpose

The incumbent is accountable for the administrative, financial and risk management operations of the company, to include the development of a financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve company assets and report accurate financial results.

Financial Planning, Capital raising and Investor relations

• Develop performance measures that support the company's strategic direction
• Monitor and direct the implementation of strategic business plans
• Develop financial and tax strategies. Determine financial objectives, design & implement systems, policies & procedures to facilitate internal financial control.
• Manage the capital request and budgeting processes. Set up an effective & efficient budget control system.
• Creation and implementation of MIS for effective & efficient control and monitoring system. Ensure Month End financial statements are forwarded to the Board and Excom members
• Present annual accounts to Management
• Maintain banking relationships and represent the company with investment bankers and investor shareholders
• Ensure proper use and maintenance of financial systems, including adequate security and back up procedures.
• Provide timely financial and high quality management information and performance measurement to management as and when required.
• Prepare proper Standard Operating Procedures as per SOPs relating to Finance Department and due implementation and monitoring of the same.

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
• Advise the organization's leadership on appropriate insurance coverage for the organization and the Board of Directors
• Ensure that the company complies with all legal and regulatory requirements
• Ensure that record keeping meets the requirements of auditors, regulatory and statutory requirements
• Report risk issues to the audit committee of the board of directors
• Maintain relations with external auditors and investigate their findings and recommendations
• In the process of designing an Operational MIS with performance metrics and ROI indicators to assess whether each business is meeting required performance standards and is able to yield promised Returns

Financial Control

• Take ultimate responsibility for the company cash management policies.
• Monitoring Cash flows for Operations and projects
• Monitor overall measure of evaluation - Return on Investment (ROI). The other techniques of financial control and evaluation include budgetary control, cost control, internal audit, break-even analysis and ratio analysis.

Leadership

• Provide leadership to the Board's Finance and Accounting strategy, to optimize the companys financial performance and strategic position.
• Take overall control of the companys accounting function
• Contribute fully to the development of company strategy across all areas of the business, challenging assumptions and decision-making as appropriate and providing financial analysis and guidance on all activities, plans, targets and business drivers.
• Ensure that company financial systems are robust, compliant and support current activities and future growth.
• Take ultimate responsibility for the company cash management policies

New Business structuring and valuation

• Through acquisitions or mergers with existing business in JVs
• Business Case validation
• Valuation of Business and investment structuring
• Arriving at Stake-holders ratio
• Target companys tax structuring and tax jurisdictions

Operations

• Manage the financial operations of subsidiary companies and Tax structuring, Tax Planning, Relevant Tax compliances, Tax assessments, Tax payouts, etc
• Manage the accounting, investor relations, legal, tax and treasury departments
• Manage any third parties to which functions have been outsourced
• Oversee the company's transaction processing systems
• Government Taxation and Land related Compliances

Qualifications, Experience and Competency requirements

MUST HAVE

• Must be a qualified Chartered Accountant
• IDEAL Current Designation / Seniority Level - General Manager - Finance & Accounts or equivalent as per incumbents current organization
• Maximum expected experience for the position is 15 - 18 years
• Fluent in Tamil & English
• Must have worked a minimum period of 7 years in Chennai / Tamil Nadu area
• Max age limit - 45 years

Remuneration

• Compensation as per industry standards and considering current CTC levels
• Benefits would be detailed in the final offer