Finance Lead, India

Role Overview

The Finance Lead, India, will own end-to-end financial operations for OpenFX’s India entity, building the finance function from the ground up. This role is responsible for establishing payroll, accounts payable, local treasury, and statutory compliance infrastructure, creating a scalable foundation as India operations grow.

Reporting to the Head of Finance, this individual will operate as the senior finance leader on the ground in Bangalore, partnering closely with the global finance team to ensure alignment with group-level controls, reporting standards, and strategic priorities.

Core Responsibilities

• Grow and maintain the India finance function end-to-end: payroll processing, accounts payable, expense management, and vendor payments
• Evaluate the current outsourced accounting arrangements and decide whether to retain, restructure, or bring capabilities in-house
• Establish local treasury operations, including cash management, bank relationships, and fund transfers between India and group entities
• Implement and maintain India-specific financial controls, policies, and approval workflows

Payroll & Employee Operations

• Own the full payroll cycle for the India entity, ensuring accurate and timely salary disbursement, tax withholdings, and statutory deductions (PF, ESI, PT, TDS)
• Manage payroll vendor relationships and ensure compliance with local labor and tax regulations
• Coordinate with HR on new hires, terminations, bonus payments, and variable pay processing

Statutory Compliance & Tax

• Ensure timely filing and compliance with all Indian statutory requirements: GST returns, TDS returns, PF/ESI filings, professional tax, and advance tax payments
• Own monthly payroll tax review and reconciliation
• Manage quarterly VAT claims and returns, corporate tax computations and accruals
• Coordinate annual corporate tax returns, R&D tax claims, and other regulatory filings
• Partner with external auditors and tax advisors to support statutory audits and transfer pricing documentation

Accounting & Reporting

• Maintain accurate books for the India entity under Indian GAAP (and support US GAAP consolidation)
• Deliver monthly close for the India entity within group timelines, including intercompany reconciliations
• Provide regular financial reporting to the global finance team, including variance analysis and commentary
• Ensure audit-ready financial records and strong documentation practices

Local Treasury & Banking

• Manage India banking relationships, account structures, and signatory controls
• Oversee local cash positioning, fund requisitions from the group, and foreign exchange exposures
• Implement cash flow forecasting for India operations

Qualifications

• • Chartered Accountant (CA) or equivalent professional qualification
  • 8–10 years of progressive finance experience, with at least 3 years in a senior role managing India entity finance end-to-end
  • Deep expertise in Indian statutory compliance (GST, TDS, PF/ESI, Companies Act)
  • Experience building finance operations from scratch in a high-growth or startup environment
  • Strong understanding of Indian payroll, local treasury, and banking operations
  • Experience working with global teams and multi-entity structures
  • Fintech, payments, or financial services industry experience strongly preferred
  • Hands-on, builder mindset — comfortable operating without a large team initially
  • Based in Bangalore (in-office required)