principal

Financial manager:Job description

A financial manager is responsible for providing financial advice and support to clients and colleagues to enable them to make sound business decisions. Specific work environments vary considerably and include both public and private sector organisations, such as multinational corporations, retailers, financial institutions, NHS trusts, charities, small manufacturing companies and universities. Financial considerations are at the root of all major business decisions. Clear budgetary planning is essential for short and long-term future planning, and companies need to know the financial implications of any decision before proceeding. In addition, care must be taken to ensure that financial practices are in line with all statutory legislation and regulations. Financial managers may also be known as financial analysts or business analysts.

Typical work activities

The roles of financial managers vary significantly. The generic nature of the job title can be misleading and job descriptions should be scrutinised carefully as the level and scope of the responsibilities involved in any role coming under the banner of financial management can vary enormously. In larger companies for instance, the role is more concerned with strategic analysis; in smaller organisations, a financial manager may be responsible for the collection and preparation of accounts. Typical activities include: providing and interpreting financial information; monitoring and interpreting cash flows and predicting future trends; analysing change and advising accordingly;

formulating strategic and long-term business plans; researching and reporting on factors influencing business performance; analysing competitors and market trends; developing financial management mechanisms that minimise financial risk; conducting reviews and evaluations for cost-reduction opportunities; managing a company's financial accounting, monitoring and reporting systems; liaising with auditors to ensure annual monitoring is carried out; developing external relationships with appropriate contacts, e.g. auditors, solicitors, bankers and statutory organisations such as the Inland Revenue; producing accurate financial reports to specific deadlines; managing budgets; arranging new sources of finance for a company's debt facilities; supervising staff; keeping abreast of changes in financial regulations and legislation

Finance Manager Job Description

Position Description: Finance Manager Basic Function: The functions of the finance manager position can be considered identical to a treasurer position (see the Treasurer job description), or as a "light" treasurer who has additional analysis responsibilities that include support of the management team in a variety of operational decisions. This job description assumes the later view of the finance manager position. As such, the finance manager should manage funds in such a manner as to maximize return on investment while minimizing risk, and while also ensuring that an adequate control structure is in place over the transfer and investment of funds. Further, the finance manager engages in financial analysis in such areas as forecasting, budgeting, engaging in cost reduction analysis, and reviewing operational performance. Principal Accountabilities: Management 1. 2. 3. Maintain a documented system of accounting policies and procedures Manage outsourced functions Oversee the operations of the treasury department, including the design of an organizational structure adequate for achieving the department's goals and objectives Funds Management 1. 2. Forecast cash flow positions, related borrowing needs, and available funds for investment Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements

3. 4. 5. 6. 7. 8.

Use hedging to mitigate financial risks related to the interest rates on the company's borrowings, as well as on its foreign exchange positions Maintain banking relationships Assist in determining the company's proper capital structure Arrange for equity and debt financing Invest funds Recommend appropriate dividend issuances, based on historical dividend patterns and expected cash flows

Budgeting 1. 2. 3. Manage the preparation of the company's budget Report to management on variances from the established budget, and the reasons for those variances Assist management in the formulation of its overall strategic direction

Financial Analysis 1. 2. 3. 4. 5. 6. 7. 8. 9. Engage in ongoing cost reduction analyses in all areas of the company Review the performance of competitors and report on key issues to management Engage in benchmarking studies to establish areas of potential operational improvement Interpret the company's financial results to management and recommend improvement activities Review company bottlenecks and recommend changes to improve the overall level of company throughput Participate in target costing activities to create products that meeting predetermined price goals Assist in the determination of product pricing in relation to features offered and competitor pricing Compile key business metrics and report on them to management Manage the capital budgeting process, based on constraint analysis and discounted cash flow analysis Additional Accountabilities: 1. Oversee the extension of credit to customers

Desired Qualifications: The finance manager candidate should have a Bachelor's degree in finance or accounting, or equivalent business experience and 10+ years of progressively responsible experience for a major company or division of a large corporation. Preference will be given to candidates with the Certified Public Accountant or Certified Management Accountant designations. Excellent communication skills are essential, particularly in regard to presenting the results of analyses to management. Should have an outstanding knowledge of electronic spreadsheets.

Working Conditions: Primarily in an office environment. Will be expected to travel as needed to company subsidiaries. Supervises: All treasury staff, as well as financial analysts and cost accountants

managemnt

finiancial analysis

budgeting