IT Financial Analyst - Corporate

Job Title: IT Financial Analyst - Corporate IT

Location: Pune, Maharashtra, India

Engagement: Full time

Notice Period -Immediate to 3 weeks

Budget 10LPA

Hybrid work from Yeravda Pune

Position Summary

The IT Financial Analyst will support the Corporate IT organization by providing day-to-day financial analysis, reporting, and operational support for IT budgets and actuals. Based in Pune, Maharashtra, India, this role will work closely with US-based and global IT, PMO, Finance, and Accounting teams to ensure accurate budgeting, forecasting, cost allocations, and financial controls for IT operating and capital expenditures.

The ideal candidate has a strong foundation in financial analysis and accounting, experience with IT or technology spend, and the ability to collaborate effectively with stakeholders across geographies and time zones.

Contract position with potential for extension based on performance and business needs.

What You Will do:

1. IT Budget Management & Forecasting

• Review IT budgets and daily transactions to identify and address variances against plan and forecast.
• Support the annual IT budgeting and planning cycle, including data collection, consolidation, validation, and scenario analysis.
• Develop, update, and maintain monthly and quarterly forecasts for IT operating and capital expenses in alignment with US Corporate Finance timelines.
• Partner with IT Cost Center Owners to ensure accurate budget allocations across projects, services, and functions.
• Track actuals vs. budget/forecast and provide early warning on potential over/underspends, recommending corrective actions.

2. Transaction Review, Coding & Allocations

• Review daily/weekly IT financial transactions (Opex and Capex) to ensure accuracy, completeness, and compliance with internal policies.
• ddress required cost reclassifications, invoice coding, and cost allocations in coordination with Accounts Payable, Procurement, and IT stakeholders.
• Validate that costs are recorded to the correct GL accounts, cost centers, projects, and internal orders in accordance with the global chart of accounts.
• Manage PMO cost distribution by ensuring accurate allocation of project-related costs (labor, software, hardware, contractors) to the appropriate projects and portfolios.
• Coordinate with HR and IT leadership to maintain accurate labor allocation (e.g., time tracking, cost splitting between projects, BAU vs. project work).

3. Capitalization, Depreciation & Amortization

• Review amortization register versus actuals on a regular basis to identify and address gaps, discrepancies, and timing issues.
• Review and understand the depreciation schedule for IT assets (hardware, software, implementation costs) and communicate the impact on current and future budgets in a timely manner.
• Ensure proper capitalization of IT projects in line with accounting policies (e.g., distinguishing capex vs. opex, identifying capitalizable labor).
• Coordinate with Corporate Accounting to validate asset creation, retirement, and impairment entries for IT assets.
• Support periodic reconciliations between the fixed asset subledger, amortization/depreciation schedules, and the general ledger.

4. Reporting, Analytics & Insights

• Prepare and distribute standard monthly/quarterly IT financial reports, including budget vs. actuals, forecast updates, and variance explanations for US management.
• Perform variance analysis at multiple levels (cost center, project, vendor, service line) and provide clear commentary on key drivers.
• Develop and maintain financial dashboards and analytics (e.g., in Excel, Power BI, or similar tools) to provide visibility into IT spend, trends, and KPIs.
• Provide ad-hoc financial analysis to support IT leadership decisions (e.g., build vs. buy, cloud vs. on-prem, vendor consolidation, contract renewals).
• Support business cases and ROI analysis for IT investments and projects, including sensitivity analysis and scenario modeling.

5. Training, Enablement & Documentation

• Create training materials (guides, SOPs, FAQs, quick reference documents, and/or short videos) to help IT cost center owners and cost approvers execute their financial tasks correctly.
• Conduct periodic training sessions for IT stakeholders in India and the US on financial processes, tools, and policies.
• Maintain up-to-date process documentation for IT financial workflows, including month-end close tasks, accruals, reclassifications, and allocations.
• Serve as a subject matter expert (SME) on IT financial processes for the Pune team and partner teams in the US.

6. Governance, Compliance & Controls

• Ensure adherence to corporate financial policies, internal controls, and audit requirements for IT financial transactions.
• Support internal and external audits by preparing schedules, supporting documentation, and responding to queries related to IT spend, capital projects, and allocations.
• Help enforce approval workflows, spending thresholds, and policy compliance for IT purchases and contracts.
• Identify control gaps in IT financial processes and propose improvements to strengthen accuracy, transparency, and compliance.

7. Collaboration with Global Stakeholders

• Work closely with US-based and globally dispersed IT leadership, PMO, Finance, Procurement, and Accounting teams, aligning work hours as needed to enable real-time collaboration.
• Participate in regular calls/meetings with US stakeholders to review financial results, discuss variances, and align on forecasts and corrective actions.
• Proactively communicate risks, issues, and opportunities related to IT financials to US stakeholders.

8. Process Improvement & Automation

• Continuously assess existing IT financial processes (budgeting, forecasting, allocations, reporting) and recommend standardization, simplification, and automation where possible.
• Partner with IT and Finance to leverage tools and systems (ERP, PPM tools, reporting platforms) to improve data quality and reduce manual work.
• Support implementation of new financial tools or enhancements (e.g., new ERP modules, PPM systems, reporting dashboards), including testing and user training.
• Track process performance measures (e.g., month-end close timelines, forecast accuracy) and drive improvements over time.

9. Vendor & Contract Financial Support (If Applicable)

• Support vendor and contract management by providing financial analysis for contract renewals, rate changes, and volume adjustments.
• Monitor IT vendor spend against contracts, identify deviations, and support renegotiation or optimization opportunities.
• Provide cost visibility and reporting by vendor, category, and contract to support strategic sourcing decisions.

What you Will Need:

Education & Experience

• Bachelor's degree in Finance, Accounting, Commerce, Business, or a related field.
• 3-5+ years of experience in financial analysis, management accounting, or FP&A; experience in IT or technology financials preferred.
• Strong understanding of budgeting, forecasting, variance analysis, and basic accounting principles (including capitalization, depreciation, and amortization).
• Hands-on experience working with ERP and financial systems (e.g., SAP, Oracle, Microsoft Dynamics, or similar).
• dvanced proficiency in Microsoft Excel; experience with data visualization tools (e.g., Power BI, Tableau) is an advantage.
• Experience working with global teams or supporting US/Western stakeholders is preferred.

Knowledge, Skills & Abilities

Technical Skills

• Strong financial modeling, analysis, and problem-solving skills.
• Good understanding of GL structures, cost centers, internal orders, and project accounting concepts.
• Familiarity with IT spend categories (hardware, software, cloud, telecom, labor, contractors) is a plus.
• bility to interpret and work with depreciation schedules, amortization registers, and fixed asset records.

Behavioral & Soft Skills

• Excellent verbal and written communication skills in English, with the ability to explain financial concepts to non-financial stakeholders.
• High attention to detail and accuracy, with strong organizational skills.
• Proactive, self-motivated, and able to work independently with limited supervision.
• Strong collaboration skills and comfort working across time zones with remote/global teams.
• bility to manage multiple priorities and deliver high-quality work under tight deadlines, especially around month-end and quarter-end cycles.

Reporting Relationships

This position reports to a Manager / Lead or other senior level IT management based in Houston, TX