A finance director is one of the three most important board members of the company. The finance director is responsible for all financial decisions in the company. He is responsible for all the efforts, results and success of the company in finance matters. He also provides financial advice and support help others make important decisions. The job purview of the Finance Director is expansive and involves almost all important aspects in the company.
The finance director’s job also includes many other duties and responsibilities:
- Assist in the company’s budgetary planning.
- Oversee, review and adhere to the budgets for every department in the company.
- Ensure that the company’s financial practices are in sync with the regulations and legislation.
- Analyze market trends and assist in formulating a strategic plan for the future.
- Keep a track of all financial transactions, monitor cash flow, and accounts.
- Supervise financial assistants in financial day to day operations.
- Prepare reports on a monthly and annual basis.
- Plan in such a manner so as to minimize financial risk.
- Contract auditing services to ensure financial monitoring is up to date.
- Maintain relationships with service providers and contractors.
- Implement and update financial policies.
- Maintain a policy manual for the finance department.
- Work with the human resource to get the most suitable candidate for the finance dept.
- Establish and implement a training program for new employees.
- Provide leadership to the Board’s Finance and Accounting strategy, to optimize the company’s financial performance and strategic position.
The finance director oversees all the financial aspects of business and is the driving force behind the financial strategy and planning of the company. It is the job of a finance director to look after the overall financial well being of the company.