About IFACET
IFACET is a Section 8 company established to drive industry-oriented education, training, skilling, consulting, and outreach initiatives associated with Indian Institute of Technology Kanpur.
IFACET aims to create a professionally managed, self-sustaining ecosystem for continuing education, executive learning, industry engagement, digital learning platforms, and strategic institutional initiatives. The organization operates with startup-like agility while adhering to the governance and compliance framework applicable to Section 8 entities under the Companies Act, 2013.
Job Summary
The Senior Manager – Finance & Accounts will lead the financial management, accounting, budgeting, and compliance functions of the IFACET. The role is responsible for ensuring sound financial governance, donor/grant fund management, statutory compliance (Companies Act, Income Tax, GST/TDS), and timely, accurate financial reporting to the Board, donors, and regulatory authorities.
Key Responsibilities
1. Financial Planning & Management
- Lead annual budgeting, financial forecasting, and cash-flow planning for the organization
- Monitor budget utilization across programmes/projects and flag variances to management
- Advise the Board and leadership on financial strategy, sustainability, and resource allocation
- Oversee fund management to ensure restricted and unrestricted funds are tracked and utilized appropriately
2. Accounting & Bookkeeping
- Supervise day-to-day accounting operations – ledgers, journal entries, bank reconciliations, payables/receivables
- Ensure accurate maintenance of books of accounts as per applicable Accounting Standards (Ind AS/AS, as applicable to non-profits)
- Oversee payroll processing, statutory deductions, and employee reimbursements
- Maintain fixed asset register and ensure proper depreciation accounting
3. Statutory & Regulatory Compliance
- Ensure compliance with the Companies Act, 2013 (Section 8 provisions) relating to financial statements and filings
- Ensure timely filing of Income Tax returns, TDS returns, GST returns, and compliance with 12A/80G/12AB conditions
- Coordinate statutory, internal, and specific audits; ensure timely closure of audit observations
4. Internal Controls & Risk Management
- Design, implement, and monitor internal financial controls and SOPs
- Ensure segregation of duties and adherence to procurement and expenditure approval matrices
- Identify financial risks and recommend mitigation measures to management/Board
- Prevent and detect financial irregularities; strengthen anti-fraud mechanisms
5. Reporting & Board Support
- Prepare monthly, quarterly, and annual financial statements (Balance Sheet, Income & Expenditure, Cash Flow)
- Present financial performance and MIS reports to the Committee
- Support preparation of the Annual Report's financial section
- Coordinate with the Company Secretary/Legal team for ROC and other statutory filings
6. Team & Systems Management
- Supervise and mentor the finance and accounts team
- Oversee accounting software/ERP systems and drive process automation
- Build finance capacity of programme teams on budgeting and expense compliance
Key Responsibilities
- CA / CMA / MBA (Finance) or equivalent professional qualification
- 8–12 years of relevant experience in finance & accounts
- Strong working knowledge of Companies Act (Section 8), Income Tax provisions for non-profits (12A/80G/12AB), GST, and TDS
- Experience with financial reporting and multi-funder fund accounting
- Proficiency in accounting and MS Excel
Competencies
- Strong analytical and financial reporting skills
- Sound knowledge of non-profit accounting standards and regulatory compliance
- Budgeting, forecasting, and fund management expertise
- Team leadership and stakeholder management
- High attention to detail, integrity, and ability to manage multiple compliance deadlines
Pay: ₹1,200,000.00 - ₹2,400,000.00 per year
Work Location: In person
