Principle Analyst, Financial operations

Magnit is hiring several Principal Analyst, Financial Operations to work onsite in our Vadodara, Gujarat India office. 

About the Role: 

As a Principal Analyst in Financial Operations, you will take a strategic and high-level role in driving the execution and continuous improvement of all financial operations processes. You will oversee complex financial tasks and lead initiatives to enhance operational efficiency, quality, and accuracy across the organization. Working closely with senior leadership, you will provide insights into financial operations, manage high-level reconciliations, and ensure the company’s financial deliverables align with both client expectations and internal objectives. You will also mentor and guide other team members, fostering a culture of excellence and continuous improvement.

What You Will Do

• Leadership & Strategic Oversight:
• Take full ownership of the financial operations process across multiple accounts, ensuring complex deliverables are met on time and to the highest standards of quality.
• Lead strategic initiatives aimed at improving operational processes, optimizing systems, and addressing emerging challenges in financial operations.
• Provide mentorship and guidance to managers, analysts, and cross-functional teams to foster professional development and enhance operational performance.
• Work closely with senior leadership to set long-term strategies and goals for the Financial Operations team, aligning departmental objectives with broader organizational priorities.
• Advanced Financial Operations & Process Management:
• Oversee the entire accounts receivable lifecycle, ensuring accurate and timely invoicing, collections, and payment application across multiple platforms (VMS, ERP, PeopleSoft).
• Manage and resolve complex reconciliation tasks, ensuring seamless integration of data across multiple systems and identifying opportunities for improvement in the reconciliation process.
• Conduct high-level analysis of financial data, providing actionable insights to senior management to guide decision-making and improve financial performance.
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• Financial Reporting & Data Integrity:
• Lead the preparation and analysis of advanced financial reports, including aging reports, collection trends, outstanding balances, and key performance indicators (KPIs).
• Ensure data integrity across all financial systems, overseeing audits and spot checks to confirm the accuracy of financial records and reports.
• Create and deliver strategic reports and presentations to senior management and external stakeholders, providing clear, concise, and actionable financial insights.
• Strategic Process Improvements & Optimization:
• Drive large-scale process improvement initiatives within financial operations, from identifying inefficiencies to implementing scalable solutions that reduce operational costs and enhance service delivery.
• Work with key stakeholders across the organization to review and refine financial workflows, ensuring best practices are established and continuously followed.
• Lead the implementation of automation, system upgrades, and other technological improvements to streamline processes, reduce manual effort, and increase overall operational efficiency.
• Cross-Functional Collaboration & Client Engagement:
• Serve as a senior-level point of contact for clients, engaging in high-level discussions around billing discrepancies, payment issues, and process changes, ensuring resolution and maintaining positive client relationships.
• Collaborate with internal teams, including finance, IT, and client services, to align financial operations with other key business functions and ensure optimal performance across the board.
• Provide strategic recommendations and insights based on client needs, market trends, and financial data to improve client service and drive business growth.
• Governance, Compliance, & Risk Management:
• Establish and enforce governance policies and procedures related to financial operations, ensuring compliance with internal standards and external regulations.
• Lead risk management efforts, proactively identifying potential risks in financial processes and implementing solutions to mitigate them.
• Oversee the development and maintenance of process documentation, ensuring all team members adhere to documented procedures and maintain consistency across operations.
• Mentorship & Team Development:
• Lead, mentor, and coach a team of financial analysts, providing advanced training and career development opportunities to foster a culture of excellence.
• Develop and maintain a high-performing team by setting clear expectations, tracking performance, and facilitating regular feedback and development discussions.
• Ensure the team is equipped with the necessary tools, resources, and support to achieve individual and collective success.
• Innovation & Thought Leadership:
• Stay abreast of emerging trends in financial operations, system improvements, and best practices in the industry.
• Serve as a subject matter expert and thought leader in financial operations, contributing to the evolution of department strategy and ensuring the organization stays ahead of market trends.
• Drive innovation by recommending new approaches, tools, and technologies that can improve efficiency, accuracy, and client satisfaction.

What You will Need

• Bachelor’s degree in Finance, Accounting, Business, or a related field; MBA highly preferred.
• 5+ years of experience in financial operations, accounting, or finance, with a proven track record in a leadership or principal analyst role.
• Advanced knowledge of financial systems such as Vendor Management Systems (VMS), ERP (PeopleSoft), and other accounting platforms.
• Strong expertise in financial reporting, data analysis, and reconciliation processes with an ability to manage complex data and financial workflows.
• Demonstrated experience driving process improvements, system integrations, and financial optimization in a large-scale, multi-account environment.
• Exceptional leadership, communication, and interpersonal skills, with the ability to interact effectively with all levels of the organization and external stakeholders.
• Highly analytical, detail-oriented, and capable of managing multiple priorities in a fast-paced environment.
• Strong problem-solving skills with a focus on continuous improvement and innovation.

Key Competencies:

• Strategic Financial Leadership
• Advanced Financial Analysis & Reporting
• Process Optimization & Continuous Improvement
• Cross-Functional Collaboration & Client Relations
• Governance, Compliance & Risk Management
• Mentorship & Team Development
• Data Integrity & System Integration
• Problem Solving & Decision Making
• Innovation & Thought Leadership

As a Principal Analyst, you will have the opportunity to shape the future of the financial operations team, bringing innovation, operational excellence, and strategic insights to the forefront of the organization. This role is ideal for a seasoned professional looking to drive meaningful change and lead complex financial operations with an eye toward scalability and continuous growth