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Finance Manager: Job Description

A multitasking role with great responsibilities

A Finance Manger helps companies to improve their financial health and meet long-term goals. All goals can be achieved by building financial reports and strategies, and someone knowledgeable about the field can do this. The primary duties include activity reports, financial forecasts, monitoring accounts, and create areas to stabilize or reduce company expenses.

What does a Finance Manager do?

A Finance Manger works closely with a business’ management and executive team. Together, they create financial plans for financial stability and make wise investments of an organization. They also keep an eye in to the market trends and analyze potential financial opportunities to determine if certain financial strategies, decisions or investments are in the best interest of the company.

Let’s have a look at some primary duties.

  • Management
    1. Maintenance of the system documenting accounting policies and practices
    2. Management of subcontracted functions
    3. Supervise the treasury department and its operations, including the design of a strategy adequate for achieving the decided goals and objectives
  • Management of funds
    1. Managing the company’s budget to make sure there is enough money to cover ongoing operating and capital investment needs
    2. Predict cash flow positions, related borrowing needs, and probable funds for investment
    3. Analyze and discover ways to reduce financial risks associated with the interest borrowing rates, and foreign exchange ranks
    4. Helps in selecting the suitable capital structures
    5. Planning stock and loan funding
    6. Maintain banking contacts
    7. Invest funds
  • Financial Analysis
    1. Conducting cost reduction analysis in all parts of the organization
    2. Engaging in benchmarking researches to establish possibilities of operational improvements
    3. Reporting key issues to management of competitors’ performance
    4. Interpreting financial results and advice for improvement strategies
    5. Engaging in goal costing operation and create products in relation to programmed price areas
    6. Assisting the product pricing process
    7. Reporting business metrics to the management
    8. Managing processes of the capital budgeting that are based on constraint analysis and discounted cash flow analysis
    9. Creating other analysis and reports as required by the management

 

  • Accounting
    1. Management of the company’s budget and its arrangements
    2. Report to management on variances from the decided budget
    3. Assistance in creating overall strategic directions
    4. Recommendation on the corporate credit policy

Qualification

The finance manager should hold a bachelor’s degree in finance or accounting. Five and more years of experience are also required for a finance manager to have by most companies in the world. Besides, having excellent communication skills is essential, and candidates should have an expertise in understanding of electronic spreadsheets.

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List of qualifications

    • BS Degree in Finance or Accounting. Advanced
    • Minimum of 5-7 years of relevant experience
    • 5+ years of combined Accounting/Finance/Financial Systems experience
    • Ability to manage multiple priorities in a fast-paced work environment
    • Customer service-oriented attitude and leadership capability
    • Advanced use of MS Office Suite, ability to quickly learn various in-house software applications
    • Strong analytical skills

Valuable skills and experiences

    • Exceptional communication skills
    • Post-Secondary Education in Hospitality or related field
    • Experience in reservation or front office management with a high call volume
    • Strong customer service and multitasking ability
    • Knowledge of Sun, iScala, Opera Property Management System, and able to operate other electronic systems
    • Attention to details and problem-solving skills

Last thought

As you can see, the finance management position is a kind of complicated role with a high level of responsibilities. A finance manager should be able to manage, process, evaluate, advice, and create strategies, and all related to a company’s budget and investment funds.

The professional, after the finance manager position, is responsible for financial procedures and reports necessary for an organization to reduce costs and track continuously its financial stability. The finance manager should be educated in finance, accounting and must have vast experience in other areas such as hospitality management, front office management, and excellent analytical skill including excellent knowledge of electronic operational systems.

Ref: Online Sources 

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