Finance Director job description

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A finance director holds one of the most important jobs in a company, SME, educational institution or charity organisation. Executives taking on the role have full responsibility for the current and future financial well-being of the company they are employed by.
Job responsibilities vary in accordance with the employer, but usually include quality control of financial reporting and forecasts, sales, purchase and general ledger reconciliations, generating profit and loss accounts, recognising areas for improved efficiency and cost saving, and motivating subordinates to perform their jobs with enthusiasm.
Successful candidates for the position of finance director will be ACA, CIMA or ACCA chartered accountants with wide experience of strategic financial analysis and planning. Job holders in this field need to be self-starters, creative and numerate, and have the ability to communicate and delegate well.
There are openings for such executive posts in the bigger cities of the UK, with London, the Home Counties, Birmingham and Manchester the principal hubs. Depending on location and experience, incumbents can expect annual remuneration packages of between £55,000 and £120,000, with benefits such as company profit sharing and BUPA health insurance often on offer.

Description

A Director in charge of Finance is responsible for all the financial strategies, procedures and activities within an organisation. They ensure that the company is financially sound by making changes to increase revenue and managing budgets. When it comes to budgets and expenditure the Finance Director typically has the final word.
Depending on the company structure persons who perform these duties may also have the title financial analyst or finance manager. They attend meetings with various departments with managers and supervisors. Due to their immense responsibilities directors may work long hours putting in overtime when needed. Nevertheless, they receive very generous pay packages.
A Finance Director usually performs any of the following tasks:
•  Evaluating financial systems and methods
•  Managing finance, and accounting teams
•  Implementing measures for staff improvement
•  Enforcing financial strategies and regulations
•  Overseeing budgeting, reporting, and forecasting
•  Reporting to stakeholders and board members
•  Networking with industry professionals
•  Liaising with financial institutions

Skills

• Information Technology
• Prioritisation
• Analytical thinking
• Interpersonal relationships
• Numerical capabilities
• Leadership
• Supervision
• Communication
• Using Microsoft Applications
• Using Accounting and financial applications
• Problem solving
• Networking
• Negotiating
• Motivation
• Being confident

Education

Finance Directors are highly qualified and numerically inclined individuals. They typically have a Masters Degree in Finance, Accounting, Economics, Mathematics or Statistics. Some directors even attain a PhD in their chosen field. People who are interested in working towards this position can access certification from the:
•    Institute of Chartered Accountants in England and Wales (ICAEW)
•    Institute of Chartered Accountants in Ireland (ICAI)
•    Institute of Chartered Accountants of Scotland (ICAS)
•    Chartered Institute of Management Accountants (CIMA)
•    Chartered Institute of Public Finance and Accountancy (CIPFA)
•    Association of Chartered Certified Accountants (ACCA)

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