Finance Lead

About the job

Indian Institute of Creative Technologies (IICT) is a section 8 company with stakeholders from I&B Ministry, FICCI and CII. IICT is formed with the objective of upskilling manpower in the Animation, VFX, Gaming, Comics, Extended Reality (AVGC-XR) Industry. IICT will offer specialised training-cum-learning programs to equip both amateurs and professionals with the latest skill sets in cutting-edge AVGC-XR technologies and will also foster research and development.

IICT currently operates out of the NFDC campus at Peddar Road, Mumbai and will move to a sprawling 10-acre campus in Goregaon filmcity, Mumbai by 2027. The Peddar Road facility consists of classrooms, edit DI and sound studio training setups, theatre and immersive studio.

The Role

Key Responsibilities

Revenue Operations (Student Fees)

• Oversee end-to-end processes related to course fee collections from students and institutional partners.
• Ensure compliance with established fee structures, discount policies, and refund norms.
• Monitor timely enrolment data sync from LMS to accounting systems.

Billing & Collections

• Ensure accurate and timely invoicing for course fees, including instalment schedules if applicable.
• Issue credit notes and adjustments with proper approvals.
• Monitor real-time fee collection data from payment gateways and reconcile with accounting records.
• Engage with students or partner institutions to resolve discrepancies or delayed payments.
• Maintain healthy collection cycles and manage Days Sales Outstanding (DSO).
• Ensure all revenue data flows correctly between the LMS and accounting platforms (e.g., Zoho Books).

GST & Statutory Compliance

• Ensure proper classification of taxable and non-taxable income.
• Timely and accurate GST filings on revenue, where applicable.
• Liaise with tax consultants for compliance and updates in tax regulations affecting education revenue

MIS & Financial Reporting

• Prepare detailed MIS reports on revenue, fee collection trends, and variances.
• Conduct monthly closing of revenue accounts with accuracy.
• Provide timely inputs to the finance team for consolidated reporting and compliance.

Audit & Documentation

• Liaise with auditors during statutory and internal audits.
• Ensure documentation and audit trails for all fee-related transactions are maintained and readily accessible.
• Implement audit recommendations for revenue process improvements.

Systems & Automation

• Drive automation of fee invoicing and receipting workflows through LMS and Zoho integration.
• Implement dashboards and automated reports for real-time revenue insights.
• Oversee system configurations for GST mapping and financial controls.

Reviews & Forecasting

• Conduct monthly revenue reviews with academic and administrative heads.
• Track revenue performance against projections and suggest corrective actions.
• Assist in budgeting and cash flow forecasting related to revenue inflows.

Recordkeeping & Reconciliation

• Maintain secure, organized records of student fee agreements, approvals, and communications.
• Perform regular reconciliations with payment gateways, bank statements, and internal systems.

Treasury & Cash Flow

• Manage revenue-side cash flows and work with the finance team on fund allocations.
• Support treasury functions with visibility into fee collection cycles.

Key Qualifications & Skills

• MBA in Finance or Postgraduate in Commerce with 15+ years of experience, preferably in education or training institutions.
• Experience in managing student billing, fee collection, and institutional revenue operations.
• Familiarity with AVGC-XR domain tools and workflows is a plus.
• Strong communication skills with the ability to present financial insights to leadership and board members.
• Ability to work effectively in a high-pressure academic environment.
• Proficiency in Microsoft Office, Google Workspace, LMS platforms, and accounting tools such as Zoho Books, SAP, or Tally.

Compensation

• Competitive and aligned with industry standards.