Assistant Manager/Deputy Manager - Finance

Our Vision:

Help IIT Bombay rank among the top engineering and technology institutes worldwide by fostering strong relationships with its alumni, corporations and philanthropists.

About IIT Bombay:

The Indian Institute of Technology Bombay, set up in 1958 as the second IIT, is recognised worldwide as a leader in the field of science and engineering education and research. The Institute was granted the status of 'Institution of Eminence' by the Ministry of Education (the then Ministry of Human Resources Development) on July 9, 2018. IIT Bombay is reputed for the quality of its faculty, cutting edge research, industry relations and the outstanding calibre of students graduating from its undergraduate and postgraduate programmes. The Institute has 17 academic departments, 35 other academic entities (Centres/ Programmes/ Academic facilities/ Hubs/ Externally funded centres and Labs) and three schools. Over the last six decades, more than 75,000 engineers and scientists have graduated from the Institute. It is served by 751 faculty members and about 150 visiting and part-time faculty considered not only amongst the best within the country but also highly recognised in the world for achievements in the field of education and research. On June 4, 2024, IIT Bombay was ranked 1st in India and 118th in the world in the Quacquarelli Symonds (QS) World University Rankings for 2025. On March 12, 2025, IIT Bombay was ranked 28th in Engineering and Technology in the Quacquarelli Symonds (QS) World University Rankings by Subject for 2025.

About us:

Indian Institute of Technology Bombay- Development and Relations Foundation (DRF) is a not-for-profit section 8 unit. IITB DRF facilitates Institute's core mission and engages with our vibrant alumni community, corporations, and foundations with the goal of developing and sustaining long-term relationships. These groups are the key stakeholders in IIT Bombay's journey of excellence. We encourage the involvement and participation of these entities in the Institute's strategic initiatives. These include setting up world class research and academics in emerging areas of science and technology, building world class infrastructure, improving faculty value proposition, strengthening the entrepreneurship ecosystem, and contributing to the society.

IITB DRF assists fundraising endeavours by way of donor solicitations, managing donor programs, maintaining financial accounts and reporting details of all activities implemented with alumni donations.

Job Purpose:

The role shall be instrumental in analyzing everyday financial activities and subsequently provide inputs for financial reporting to enable strategic planning and decision making to meet the Organizational objectives.

Key Responsibilities:

• Conduct detailed financial analysis to assess current and forecasted financial requirements in accordance with Indian Accounting Standards (Ind AS) and IGAAP.
• Review financial and legal documents for accuracy, compliance with regulatory norms (including Income Tax, FCRA, and GST), and adherence to internal control policies.
• Provide inputs for preparation and interpretation of financial reports (P&L, Balance Sheet, Fund Utilization Reports) and provide actionable insights for strategic planning.
• Manage internal financial dashboards and presentations.
• Maintain accurate accounting records in compliance with IGAAP and applicable laws.
• Process vendor invoices and payments, manage TDS/GST applicability, and ensure proper accounting treatment.
• Handle recurring postings, payables and receivables management, and monthly/quarterly account reconciliations.
• Support statutory, internal audits, including preparation of year-end financials and audit schedules.
• Manage recurring transactions, vendor master data, and bank reconciliation processes.
• Set up and maintain exchange rates, enable external tax audit access, and facilitate electronic fund transfers.
• Design and implement MIS reports and financial models for internal management.
• Simulate financial scenarios and assess risks for effective financial planning and decision-making.
• Ensure adherence to applicable Indian financial regulations including Companies Act, Income Tax Act, FCRA, and GST.
• Develop, document, and monitor internal financial policies, controls, and procedures in coordination with auditors and legal advisors.

Desired profile:

• Bachelor's Degree in Finance, Accounting or related field required, MBA preferred.
• 5+ years' experience in a financial management position.
• Functional Business analyst.
• Should have knowledge on development activities.
• Need to have hands on experience in A/P, A/R, Overhead Cost Controlling.
• Should have experience on Gl, AR, AP, GL, Asset Accounting, Bank Accounting.
• Advanced knowledge of MS Office applications, specifically in Excel, macros, data analysis, and pivot tables.
• Good to have knowledge about SAP.
• Extensive financial statement modeling experience.