Associate, Finance Accountant - Hyderabad, India - JMM INNOVATIONS

Description

Job Description: Associate, Finance Accountant

Company Overview: JMM INNOVATIONS is a dynamic technology company located in Riyadh, Saudi Arabia dedicated to innovation and growth. We are committed to creating a supportive and inclusive work environment that fosters creativity and excellence. Join our team to contribute to cutting-edge projects and make a significant impact on our journey.

Position Overview: The Associate, Finance Operations will be responsible for managing all financial operations within the organization. This role requires a strong understanding of financial principles, exceptional organizational skills, and the ability to work independently. The Associate will oversee all aspects of financial management, including accounting, budgeting, reporting, and compliance. The ideal candidate will have experience in financial operations and a proven track record of handling comprehensive finance-related tasks in a remote environment.

Key Responsibilities:

1. Financial Management and Accounting:

• Manage day-to-day financial operations, including accounts payable, accounts receivable, general ledger entries, and reconciliations. Ensure all financial transactions are recorded accurately and timely.
• Prepare and maintain accurate financial records and reports, ensuring compliance with accounting standards and regulations. This includes the preparation of monthly, quarterly, and annual financial statements.
• Oversee payroll processing, ensuring timely and accurate payment to employees, including the calculation of wages, taxes, and deductions, and ensuring compliance with local and federal regulations.
• Handle expense reporting and reimbursement processes, including the verification of expense claims, ensuring compliance with company policies, and processing reimbursements in a timely manner.

2. Budgeting and Forecasting:

• Develop and manage annual budgets, including detailed forecasting and variance analysis. Work closely with department heads to create realistic budget plans.
• Monitor actual performance against budget, providing insights and recommendations for cost control and efficiency improvements. Identify variances and implement corrective actions as necessary.
• Collaborate with department heads to prepare budget forecasts and track financial performance, ensuring alignment with organizational goals and objectives.

3. Financial Reporting:

• Prepare monthly, quarterly, and annual financial statements, including income statements, balance sheets, and cash flow statements. Ensure all reports are accurate, comprehensive, and submitted on time.
• Ensure timely and accurate financial reporting to stakeholders, including management, investors, and regulatory authorities. This includes preparing financial summaries and presentations for executive meetings.
• Conduct financial analysis and provide insights to support strategic decision-making. Use financial data to identify trends, opportunities, and risks.

4. Compliance and Audit:

• Ensure compliance with all financial regulations and industry standards, including tax filings and statutory reporting requirements. Stay updated on changes in financial regulations and implement necessary adjustments.
• Coordinate and manage internal and external audits, preparing necessary documentation and addressing audit findings. Ensure that audit recommendations are implemented and followed up.
• Implement and maintain internal controls to safeguard company assets and ensure financial integrity. Develop and enforce policies to prevent fraud and financial misconduct.

5. Cash Management:

• Monitor and manage cash flow, ensuring sufficient liquidity for operational needs. Prepare cash flow forecasts and manage cash reserves.
• Oversee bank accounts, including reconciliations and relationship management with financial institutions. Ensure all bank transactions are recorded accurately and timely.
• Prepare cash flow projections and manage investment activities. Identify opportunities to optimize cash flow and investment returns.

6. Financial Systems and Processes:

• Implement and maintain financial systems and software to improve efficiency and accuracy in financial operations. Ensure all financial systems are functioning properly and address any issues promptly.
• Develop and document standard operating procedures for financial processes. Ensure all financial processes are documented and followed consistently.
• Continuously evaluate and improve financial workflows and processes. Identify areas for improvement and implement changes to enhance efficiency and accuracy.

7. Tax and Regulatory Compliance:

• Prepare and file tax returns, ensuring compliance with local, state, and federal tax regulations. Ensure all tax filings are accurate and submitted on time.
• Stay updated on changes in tax laws and regulations, advising management on potential impacts. Implement changes to ensure ongoing compliance with tax laws.
• Manage relationships with tax advisors and regulatory bodies. Ensure all interactions with tax authorities are professional and compliant with regulations.

8. Strategic Financial Planning:

• Support strategic planning initiatives by providing financial insights and analysis. Contribute to the development of long-term financial plans and strategies.
• Participate in business development activities, including financial modeling and due diligence for potential partnerships or acquisitions. Provide financial analysis to support business growth initiatives.
• Contribute to the development and implementation of financial strategies to support company growth. Identify opportunities to enhance financial performance and achieve organizational goals.

9. Reporting Structure:

• Reports to the Director, Technology and Shared Services. Provide regular updates and reports on financial performance and issues.

10. Key Competencies and Skills:

• Problem-solving: Ability to identify problems, analyze options, and implement effective solutions.
• Critical thinking: Strong analytical skills to evaluate financial data and make informed decisions.
• Adaptability: Flexibility to adapt to changing priorities and manage multiple tasks simultaneously.
• Teamwork: Ability to work effectively with others and contribute to a positive team environment.
• Communication: Excellent verbal and written communication skills to convey financial information clearly and effectively.
• Conflict resolution: Ability to handle conflicts professionally and work towards mutually beneficial solutions.
• Emotional intelligence: Ability to manage emotions, communicate effectively, and build strong relationships.

Qualifications:

• Bachelor's degree in finance, Accounting, or a related field.
• 1-2 years of experience in financial operations or a similar role in a reputable company and professional settings.
• Strong understanding of financial principles, accounting standards, and tax regulations.
• Proficiency with financial software and systems, including ERP systems, Zoho Books, and Microsoft Office Suite (Excel, Word, PowerPoint).
• Excellent organizational and time-management skills.
• Strong attention to detail and accuracy.
• Ability to handle confidential information with integrity and discretion.
• Excellent communication and interpersonal skills.
• Ability to work independently and as part of a team in a fast-paced environment.