Each and every profile has been categorized in the banking and finance industry depending on the job and the work the designate performs. The Finance Director of a firm is a member of the senior executive team responsible for the company’s monetary resources. The finance director combines operational and strategic roles of the company, he also manages accounting and financial control functions and he also establishes the financial strategy for the profitable long term growth of the business.
It is the job of the finance director to help develop and support strategy to guide key business initiatives. The qualifications required to be eligible for the post of Finance Director are as follows:
- Bachelor’s degree in accounting, finance or business administration.
- Master’s degree in business administration, finance or economics.
- Certification from an accreditation organization is an added bonus.
- Years of work experience add to the qualification of the Finance Director.
The Finance Director should have excellent analytical and financial management skills, he should be able to communicate financial information to both finance professionals and non-specialists. They have to make effective business decisions and think strategically for the benefit of the company. Good team player is an added asset for being a finance director.
The key responsibility of the finance director is financial control. They lay out a budget for the company and work in collusion with various department heads to ensure that income and expenditure stay in the target. A finance director develops and enforces policies to minimize risk and ensures that the company reports its financial position accurately. Depending on the size of the company, they may recruit and manage a team of accountants and financial controllers to handle day-to-day tasks. He also prepares quarterly and annual accounts that present the company’s position in line with generally accepted accounting principles.
The Finance Director holds one of the most important designations in a company. It is with his aid and helps that a company can declare profit or loss, all financial planning is in his able hands.