Financial managers generally oversee the financial health of an organization and help ensure its continued viability. They supervise important functions, such as monitoring cash flow, determining profitability, managing expenses and producing accurate financial information.
Whether charged with oversight of an entire financial operation or a specific aspect of finance, such as credit or risk management, financial managers are key to organizational success. Financial managers have an extensive range of responsibilities, and what financial managers do largely depends on the type of organization. In a small business, a financial manager may be responsible for the entire financial operation, while in a large corporation, a financial manager may be more likely to specialize in a particular aspect of finance, such as financial reporting or cash management.
As a crucial member of the finance team, a typical Finance Manager job description should include, but not be limited to:
- Collecting, interpreting, and reviewing financial information
- Predicting future financial trends
- Reporting to management and stakeholders, and providing advice how the company and future business decisions might be impacted
- Producing financial reports related to budgets, account payables, account receivables, expenses etc.
- Developing long-term business plans based on these reports
- Reviewing, monitoring, and managing budgets
- Developing strategies that work to minimise financial risk
- Analysing market trends and competitors