Chief Financial Officer
ABOUT GENERATION INDIA FOUNDATION
Generation is a global program dedicated to closing the skills gap for young adults, which leaves 75 million unemployed and three times as many underemployed around the world. Generation is an independent non-profit organization launched by McKinsey & Co. in 2014, and we work with multiple partners to recruit candidates, design, and deliver a 4-12 Week “boot-camp” training program focused on technical, behavioral, and foundational skills, and to track the return on investment for both employers and young people. Generation is present in sixteen countries(India, Kenya, Mexico, Spain, United States, Singapore, UK, Hong Kong, Pakistan, Australia, Brazil, Chile, France, Ireland, Italy, and Thailand). Generation has over 9,000+ employer partners from startups to SMEs to fortune 500 companies. Nearly 88 percent of our employers say that Generation graduates outperform their peers; and 98 percent of our employers would hire Generation graduates again. Generation has 75+ implementation partners and 100+ local staff.
Generation India Foundation is an independent non-profit in India. It started its operations in India in 2015 and has enrolled 26,000+ youth across 100+ cities. Generation has delivered superior outcomes with graduation rate of ~85%, employment rate of ~85%, retention rates of ~75% after 3 months in job, which is significantly higher than comparable alternate skilling programs. Generation India along with the National Skill Development Corporation (NSDC) and the Ministry of Skill Development and Entrepreneurship (MSDE) is piloting project AMBER to positively influence the way short-term skilling initiatives are designed and implemented in India. The project will support 30,000 learners (>50% female) into sustainable livelihoods by December 2023 while ensuring 70% placement rate within 90 days (baseline of 22.2%) and 60% retention rate at 3 months (not actively measured by public TVETs). Phase 1 of the Project was launched in August 2021. Since then, we have trained 3,200+ learners, with 65% women participation and a placement rate of 86% at 90 days, and a retention rate of 80% at 90 days. We are delivering Tech programs in a fully online delivery mode and the Mass Employment roles in a blended delivery mode. During this period, we built capacities of 10 Training Partners on Generation’s 7-step methodology. Generation India was conferred the Mahatma Award for Quality Education 2022 and ‘NGO of the Year’ award in the 5th Edition of Corporate Social Responsibility Summit & Awards 2022.
Generation India Foundation seeks to recruit a Chief Financial Officer who embodies our values, understands the future challenges, supports the leadership with financial Planning, Reporting, compliance management, and is passionate about creating impact in India’s employment ecosystem.
The CFO is a full-time senior leadership role that will report directly to Generation India Foundation’s Chief Executive Officer (CEO).The primary function is to create appropriate financial structures in line with envisaged organizational growth, handling of financial accounting, statutory compliances, international compliances, coordination with statutory / internal Auditors & bank along with hand-on experience in budget preparation, Cash flow management & financial planning etc.
You will have the opportunity to lead the finance department at Generation India and will work with a global team spread across all continents and 17 countries
The position will be a full-time, permanent post with benefits. Salary will be commensurate with experience and best in class. Relevant travel and incidental expenses will also be covered by Generation India Foundation.
HOW TO APPLY
● Interested applicants should send a cover letter and resume that outlines their candidacy. The cover letter should explain in detail your qualifications for the position and why you are interested in Generation.
● Email both documents to firstname.lastname@example.org with the subject line “Application for the role of Chief Financial Officer”
Generation is an equal-opportunity employer and actively encourages applications from people of all backgrounds.
You can find out more about Generation India on: www.generation.org/India
You can also find us on Facebook and LinkedIn:
To be successful you'll need:
Candidates for this role would be expected to possess the following experience and qualifications:
• Chartered Accountant with 10-15 years of experience, preferably having 5 to 6 years of experience in senior leadership in non-profit sector. Eligible candidates who have worked in the corporate sector but have strong motivation for nonprofits may also apply.
• Candidate should have good experience of handling legal compliances.
• Having integrity, positive attitude, mission-driven, and self-directed with demonstrated passion for Generation’s mission and commitment to working collaboratively with a management team of senior professionals.
• Able to work under pressure, have a strong sense of ownership (takes personal responsibility for meeting objectives) and timeliness.
• Having excellent communication and relationship management skills with CXO level positions within corporates, foundations, government, etc.
• Advance knowledge and proficiency in MS Office and ERP packages for financial analysis and consolidation of reports is a MUST.
• Knowledge of good accounting practices and statutory guidelines with hands-on experience with audits, income tax provisions FCRA, GST and other applicable laws and statutes.
What you'll do:
• Work closely with Generation India CEO to build out finance structures & processes, in alignment with company Strategy
• Assess, develop, recommend and execute the strategy and structure for effective finance practices.
• Work with an international matrixed team to follow and maintain standards for financial compliance, for Indian standards as well as GAAP. Also, maintaining professional relationship with Global team members.
• Create systems & processes for the efficient upkeep of Generation’s assets by establishing, monitoring and introducing internal controls.
• Provide assessment of financial risks and opportunities.
• Preparation of, and ultimate responsibility for, review and submission of monthly finance report on time.
• Lead procurement efforts for the project, including the selection and negotiation with vendors, and the management of subcontractors on the project.
Financial and Accounting Management
• Ensure proper accounting systems and procedures are led out, followed across all levels as per the organizational policy, and accepted accounting principles.
• Maintain and improve upon robust set of controls that support Generation’s global and national standards.
• Ensure compliances related to Ministry of Corporate Affairs, 80G and 12AA and support Generation’s legal registration and requirements regarding FCRA for the entity. Advise management on changes in requirements.
• Manage all aspects of financial relationships with external groups like auditors, grant makers, contractors etc.
• Manage budget and controls expenses effectively. Support management with budget forecasting. Provide recommendations and implement improvements in the financial management process.
• Coordinate the budgeting strategy and process as per budget guidelines.
• Prepare and monitor budget for multiple funders and to be able to provide financial reports as per the funder requirements.
• Preparation of Budget vs Actual variance reports for all the proposals, Grants, with the objective of ensuring Grants and funds are received in time.
• In consultation with Generation’s practices to maintain and improve on the results of the compliance audits (internal and / or external).
• Keep track of receivables from various partners, raise invoices and follow up.
• Process the payables to various partners as per signed MoUs/Contracts
• Hire, train, develop and appraise staff effectively. Take corrective action as necessary on a timely basis and in accordance with company policy. Consult with HR as appropriate.
• Work with field offices to identify specific training needs to increase financial literacy amongst all Generation staff. And build training plans to improve financial knowledge and management with office accountants.
Location & Reporting
The position will be based in D e l h i- N C R and will report to India CEO. Regular communication will be involved with the India leadership and global team through multiple communication channels e.g., phone, Skype/Zoom, email, etc.
Generation is a global employment nonprofit network that supports people to achieve economic mobility so they can change their lives. We train and place adults into careers that would otherwise be inaccessible and seek to improve how education to employment systems function. Generation launched in 2015 and consists of a global hub and a network of in-country affiliates that spans 17 countries. To date, Generation has more than 75,000 graduates who have earned more than $630 million in wages, and works with more than 11,000 employers, implementation partners, and funders.