Finance Manager

Overview

• Oversee financial activities including:
  • Ensuring strong internal control,
  • Safeguarding of financial assets of the organization,
  • Preparing financial statements in accordance with IRFS, internal policies & procedures, and
  • Reporting of financial information to regulators.
• Contribute to management’s financial, strategic and operational planning by providing accurate, timely and reliable financial & management information.
• Member of the Senior Leadership Team (SLT)

MAIN RESPONSIBILITIES

Primary Responsibilities

• Ensure all department policies and procedures are adhered to by all staff members of the School.
• Review and update department policies and procedures periodically.
• Manage day-to-day processing of finance and accounting transactions of the school and summarize financial transactions.
• Prepare and interpret monthly management accounts and annual financial statements, cost data and management reports.
• Direct, supervise and ensure that all financial and accounting transactions are posted under the correct accounting heads.
• Create, update and modify chart of accounts as and when required.
• Monitor the accuracy of payables and receivables accounts.
• Prepare and analyze budgets and cash flow projections and be responsible for the school’s cash flow management.
• Analyze revenue and expenditure trends and recommend appropriate budget levels and ensure expenditure control.
• Prepare actual vs. budgeted reports and provide recommendations for expenditure control in case of significant variances and present the same to the School Management. Document reasons for the variances.
• Manage all assets (fixed and current) to ensure that neither insufficient nor unnecessary funds are invested in the assets.
• Review FAR records on a periodic basis for correctness and accuracy.
• Interact with internal and external auditors in completing audits and ensure necessary documentation for external and internal audits is maintained as required.
• Implement accounting and financial reporting standards and approved systems and procedures.
• Approve journal vouchers and adjustment entries prior it’s posting in the ledger.
• Review and shortlist vendors and buyers.
• Review and approve payment vouchers.
• Review and provide an endorsement on the payroll sheet and submit it to the Owner for final approval.
• Review and approve advance payments for petty cash and review petty cash expenses periodically.
• Review and approve invoices and document reasons for variations (if any).
• Review monthly reconciliation statements (bank reconciliation, stock reconciliation, vendor
• reconciliation, physical verification of fixed assets, etc.)
• Prepare student headcount and conduct revenue reconciliation.
• Define and approve the extension of the grace period to be offered to students with respect to the payment of fees for the term.
• Review and approve purchase requisitions for all administration purchases.
• Review comparative statements and shortlist vendors for general purchases and academic textbooks (except fixed asset purchases) in discussion with other authorized personnel.
• Review and approve purchase orders for general purchases and academic textbooks.
• Review asset disposal forms and approve disposal requests.
• Review and shortlist buyers for disposal of assets
• Review and approve additional manpower along with other members of SLT
• Review and approve employment offers along with other members of SLT
• Manage repairs and maintenance work and schedules of outsourced staff.
• Manage outsourced operations such as canteen and cafeteria, maintenance, cleaning, security, gardening, sewage and drainage and fire and equipment alarms.
• Liaise with engineers and architects and engage in tendering in case of any infrastructure projects need to be undertaken by the school.
• Participate in discussions with Owner and Finance & Accounts Manager regarding building projects.
• Review and approve marketing contracts.
• Review and approve departmental plans and budgets.
• Define and approve the extension of the grace period to be offered to students with respect to the payment of fees for the term.