Head of Finance

Trinity private school • Full-time • Limassol, CY • 3w ago

Head of Finance

Role Summary:

The Head of Finance at Trinity School is responsible for overseeing all financial operations, ensuring the school’s financial health and sustainability. This includes budget management, financial planning, regulatory compliance, and providing strategic advice to senior management and the School Board. The role requires maintaining strong internal controls, efficient financial management, and supporting the school’s mission of providing high-quality education.

Key Responsibilities:

1. Financial Management and Reporting

Prepare monthly and annual financial statements, including income statements, balance sheets, and cash flow forecasts.
Ensure accurate and timely financial reporting in accordance with applicable standards (e.g., IFRS).
Manage and oversee the annual budgeting process, including consolidation of department budgets.
Present financial reports to the School Board, CEO, and other stakeholders, providing clear insights and actionable recommendations.

2. Budgeting and Forecasting

Develop and manage the school's annual budget, working closely with academic and administrative departments to allocate resources effectively.
Provide financial projections and forecasts to support strategic decision-making.
Monitor budget performance, identifying and addressing variances.

3. Internal Controls and Compliance

Implement and maintain internal control systems to ensure the safeguarding of school assets and accurate financial reporting.
Ensure compliance with local tax laws, financial regulations, and school policies.
Liaise with external auditors and manage the audit process, addressing any findings or recommendations.

4. Cash Flow and Financial Operations

Monitor and manage cash flow to ensure operational efficiency, ensuring liquidity for day-to-day activities.
Optimize collections of school fees, scholarships, and grants.
Manage relationships with banks and financial institutions for loans or investments.

5. Tuition Fees and Revenue Management

Oversee the billing and collection of tuition fees, ensuring that fee structures are clear and communicated effectively.
Handle fee payment plans, discounts, and scholarships.
Monitor student enrollment trends and analyze their financial impact on the school’s budget.

6. Cost Control and Efficiency

Analyze and control operational costs, including staff salaries, utilities, supplies, and other overheads.
Identify areas for cost-saving and efficiency improvements without compromising educational quality.

7. Strategic Financial Planning

Provide financial leadership in the development of the school’s strategic plan.
Work closely with the CEO and senior leadership team to align financial strategy with the school’s long-term goals.
Assist with capital projects, infrastructure investments, and large-scale initiatives.

8. Risk Management

Identify financial risks and develop strategies for mitigating them.
Ensure compliance with relevant laws and regulations to minimize legal and financial risks.

9. Staff Management and Development

Supervise the finance department staff, providing guidance and training as needed.
Foster a culture of accountability and efficiency within the finance team.
Conduct performance evaluations and support professional development initiatives.

Key Skills and Qualifications:

Bachelor's degree in Finance, Accounting, or a related field (Master’s degree or ACCA/ACA certification is preferred).
5-7 years of experience in financial management, preferably in the education sector or a non-profit organization.
Strong knowledge of accounting standards, financial regulations, and internal control principles.
Proven experience in budgeting, forecasting, and cash flow management.
Excellent leadership and team management skills.
Strong communication and presentation abilities, capable of explaining complex financial data to non-financial stakeholders.
Proficiency in financial software systems and Microsoft Excel

Employment Conditions: