A Finance Executive plays a crucial role in the day-to-day financial management of the company. They are responsible for ensuring accurate financial records, processing transactions, managing budgets, and assisting with financial reporting and analysis. The role requires a strong understanding of accounting principles, attention to detail, and the ability to manage multiple financial tasks efficiently.
Key Responsibilities:
1. Financial Accounting:
- Maintain and update financial records, including general ledger, accounts payable, and accounts receivable.
- Process invoices, payments, and receipts, ensuring all transactions are recorded accurately.
- Perform month-end and year-end reconciliations to ensure financial data integrity.
2. Budgeting and Cost Control:
- Assist in the preparation of the annual budget and regular financial forecasts.
- Monitor departmental budgets, track expenses, and report any variances to the finance manager.
- Identify opportunities to control costs and optimize spending across departments.
3. Financial Reporting:
- Assist in the preparation of financial statements, including profit and loss accounts, balance sheets, and cash flow statements.
- Ensure timely and accurate submission of reports to senior management and stakeholders.
- Prepare financial summaries for internal use, such as management dashboards or financial KPIs.
4. Compliance and Auditing:
- Ensure that all financial activities are in compliance with applicable laws, regulations, and company policies.
- Assist with internal and external audits by providing required documentation and information.
- Help ensure that internal controls are in place to safeguard the company’s financial assets.
5. Payroll Management:
- Process payroll, ensuring that employees are paid accurately and on time.
- Calculate tax deductions, benefits, and other payroll-related figures.
- Ensure compliance with payroll regulations and address any payroll-related issues.
6. Taxation and Statutory Filings:
- Assist with the preparation and filing of tax returns, including VAT, GST, income tax, etc.
- Ensure that the company meets all tax deadlines and obligations.
- Keep up-to-date with changes in tax regulations and assess their impact on the business.
7. Cash Flow and Banking:
- Monitor cash flow and manage day-to-day banking transactions, including deposits, withdrawals, and transfers.
- Reconcile bank statements with company records and investigate any discrepancies.
- Manage petty cash and ensure accurate record-keeping.
8. Accounts Receivable and Payable:
- Manage the company’s accounts receivable by following up on outstanding invoices and ensuring timely collections.
- Handle accounts payable, ensuring that all payments are made accurately and on time to suppliers and vendors.
- Reconcile supplier accounts and resolve any discrepancies or disputes.
9. Financial Analysis:
- Conduct financial analysis to support decision-making and provide insights into business performance.
- Track key financial metrics and present findings to the Directors / CEO
- Identify areas of financial inefficiency and propose solutions for improvement.
10. Financial Support:
- Provide support for any finance-related projects, such as new system implementations, financial process improvements, or special reporting needs.
- Assist with preparing for board meetings or investor presentations by gathering and analyzing relevant financial data.
Key Skills & Competencies:
- Strong knowledge of accounting principles and financial management.
- Proficiency in financial software (e.g., FRESA / TALLY ) and advanced Excel skills.
- Analytical mindset with the ability to interpret financial data.
- Attention to detail and accuracy in financial reporting and analysis.
- Strong organizational and time-management skills.
- Good communication skills and the ability to work as part of a team.
- Knowledge of tax laws, payroll regulations, and financial compliance requirements.
- Ability to work under pressure and meet tight deadlines.
