Director of Finance Job Description: Top Duties and Qualifications

A Director of Finance, or Director of Financial Planning is responsible for the financial planning and operations of a company. Their primary duties include evaluating financial markets, preparing financial reports and finding solutions to financial issues.  

 

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Director of Finance duties and responsibilities 

A Director of Finance provides financial recommendations to ensure that a company meets all of its financial goals. Other duties and responsibilities of a Director of Finance include:

  • Analysing market trends and the global financial climate to create strategic plans that senior executives can use in the future 
  • Interpreting complex financial data and providing updates as required 
  • Ensuring that the company’s financial practices adhere to the statutory regulations and legislation 
  • Supervising employees of their day-to-day financial operations such as financial data tracking, invoicing and payroll 
  • Contracting financial auditing services to make sure that all financial records are  updated 
  • Performing research to seek methods that can help minimise financial risk 
  • Preparing financial reports on a monthly and yearly basis 
  • Nurturing and maintaining good relationships with contractors, clients and other significant third parties  

 

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Director Of Finance Job Description Examples:

 

Example 1

The ideal candidate will be responsible for the financial health of the company by ensuring that all financial processes and systems comply with the charity and company law and that full financial control is exercised over the charity’s assets and liabilities. Producing reports and developing strategies based on financial research that assist in guiding senior management/trustees in making sound business decisions for the long and short term. The salary for this part time role £50-£60k pro rota per annum. Qualifications to include: ICAEW, ACCA, or CIMA (BA Accountancy Degree) at least 4 years prior experience working within a Senior or Finance Management or Directors role. Knowledge of Charity Finance - Desirable Reference ID: FDLFL Application deadline: 22/06/2021 Job Types: Part-time, Contract, Permanent Salary: per year Benefits: * Company pension Schedule: * Monday to Friday COVID-19 considerations: Robust procedures are in place to protect all staff. PPE must be worn at all times which will be provided. Education: * Bachelor's (preferred) Experience: * Management: 4 years (preferred)

Example 2

How you’ll make an impact ? When you are part of the team at Thermo Fisher Scientific, you’ll do important work that supports a powerful mission. With revenues of $32 billion and a track record of stability and consistent growth, we’re uniquely able to give our people the resources and opportunities to make significant contributions to the world. The Drug Product Division (DPD), a business within the Pharma Services Group, operates as a Contract Development and Manufacturing Organisation (CDMO) for large & speciality pharma and biotech companies. The business offers development services & commercial production of drugs, improving the life of millions of patients every day. The Europe Business Unit (BU) includes the production facilities located in the region, but operates as part of a global network. The team is accountable for the underlying operational results with full ownership of the consolidated P&L (Revenues in excess of $1B) & Cash Flow statements. This role will report to the Vice President, Finance Drug Product and matrix into the Business Unit Vice President & General Manager (BU VP/GM). What will you do? Leading a team of approx. 50 associates, the Sr. Finance Director plays an important role in steering the long term growth of the business while ensuring execution of the short terms objectives sustaining the future investment cycles. In a fragmented market with a very dynamic demand & supply equation, this position provides sound business partnering and a thorough analytical framework to help the business do the following: improve the assets' utilisation, via commercial wins and operational efficiency, prioritise the investment opportunities, evolve the business model with the aim of delivering outstanding customer experience and generate the highest value for the company. Key Responsibilities: Deliver financial objectives through efficient resource utilisation and improved execution. Own all the financial processes: Forecast in close collaboration with Supply Chain and Business Management, utilise the finance shared service centre in India under the supervision of the Global Business services team, and report into Group and Corporate through the standard reporting system suites & monthly and quarterly operational reviews. Fiduciary responsibilities involving balance sheet accuracy, internal and external audits, SOX & Systems Access compliance, and full implementation and respect of all the corporate policies. Lead the business’s Annual Operating Plan (AOP) process as well as play a key role in developing the longer range strategy for the business. Establish and improve performance metrics to assist with investment evaluation and decision-making with accurate and timely reporting and analysis of data. Partner with the Commercial team to target the opportunities that are the best fit within our network of sites and maximises our capabilities and capacity. Operate in strong alignment with the other supporting functions [website] Quality, Engineering, Supply Chain, PPI, Procurement) to constantly improve the operational efficiency and fully demonstrate the benefits of the digital transformation in both the finance organisation itself and the total business unit. Recruit, retain, and develop a hardworking, diverse Finance professionals. Provide leadership, coaching and career development. Remove barriers to execution across processes! How will you get here? Bachelor’s degree in Finance, Accounting, or other relevant area. 15 years of dynamic Finance experience, including supervision of large teams located across several locations. Effective communication at every level of the organisation! Ability to work cross-functionally with individuals and teams developing strong relationships. Focus on continuous improvement and have experience optimising processes. Balance multiple projects and execute them timely and efficiently. Individual must possess high level of integrity and ethics, strong eye for business, and well-developed analytical skills. Bring a passion to mentor and empower your teams to collaborate to achieve higher business performance. At Thermo Fisher Scientific, each one of our 77,000 extraordinary minds has a unique story to tell. Join us and contribute to our singular our customers to make the world healthier, cleaner and safer.

Example 3

A career within General Consulting services, will provide you with the opportunity to help clients seize essential advantages by working alongside business leaders to solve their toughest problems and capture their greatest opportunities. We work with some of the world’s largest and most complex companies to understand their unique business issues and opportunities in an ever changing environment. We help create sustainable change by stimulating innovation, unlocking data possibilities, navigating risk and regulatory complexity, optimising deals, and aligning costs with business strategy to create a competitive advantage. Job Description A career within Finance Consulting services, will provide the opportunity to work alongside CEOs, CFOs, controllers and treasurers to optimise the structure of their finance functions and improve their contribution to the business. We support our clients by addressing the challenges of achieving appropriate standards of control, efficient back office opportunities and support to the business through insight and challenge. Consulting PwC Consulting helps organisations to work smarter and grow faster. With plans to treble its revenues over the next four years, Consulting is the fastest growing area of PwC. We offer practical, far-sighted advice and exceptional delivery. That can mean improving the way an organisation operates, reducing costs, managing risks, making the most of talent or fundamentally changing the way a business works. We provide knowledge and experience to enable the Finance Department to respond to the changing needs and expectations of the business and to improve the efficiency and effectiveness of finance operations whilst addressing the ever-increasing challenges of new regulatory requirements. We provide full lifecycle support to CFO's on Finance function redesign including advising on optimal organisation, process and systems design and providing end-to-end support for subsequent implementation. We support clients across the Banking sector in the following areas Developing Finance vision and strategy; Assessing and improving the role, organisation and effectiveness of finance functions; Designing and implementing the target operating model (TOM); Finance system design and implementation; Implementing and optimising shared service centres; Outsourcing advisory services from strategy through to execution; Scoping and delivering sustainable cost reduction; Process design and optimisation. Responsibilities As a Director, you’ll work as part of a team of problem solvers with extensive consulting and industry experience within Banking, helping our clients solve their complex business issues from strategy to execution. You will be expected to primarily work on client engagements, contributing to and leading finance change projects (‘delivery’), although you will also spend time supporting the development of operational finance solutions and thought leadership (‘development’). Specific include but are not limited to: Managing and delivering large projects by developing the project team, assessing engagement risks throughout, driving conclusions, and reviewing / challenging the output produced by the team Proactively leading the practice by setting strategy, driving the development of new business in the market, and providing technical advice across disciplines Proactively originating new business and leading proposals Building strong networks within the firm to spot and capitalise on opportunities to get involved in projects that others are leading across a number of different business units Identifying and discussing key issues with our clients to identify potential opportunities Managing engagement financials Helping to grow and develop our team through hands on training and coaching Desired skills and experience Substantive experience from a consulting firm or professional services company (essential) Track record of selling and delivering finance change projects (essential) Ability in stakeholder management and relationship building; Supported the development of solutions to Finance function challenges in the following areas Operating model change Shared Service Centres / Outsourcing Process redesign Cost reduction Finance system design and implementation Education to degree level plus either formal accounting qualification or equivalent understanding of accounting principles.

What does a Director of Finance do? 

Directors of Finance are responsible for improving a company’s financial health. They manage the cash flow of a company’s operations to make sure that they can pay for their monthly or weekly obligations. They create quarterly financial reports and create budgets and long-term plans for the company financially. 

Successful Directors of Finance can revitalise a business’s finance functions and drive a company’s profits and success. They typically work full time within an office setting. They usually work from Monday to Friday, but they may need to work overtime or during weekends depending on the needs of their company. 

 

Director of Finance skills and qualifications 

A successful Director of Finance candidate will have various prerequisite skills and qualifications to perform their duties effectively. These include:

  • Excellent analytical skills and exceptional numerical proficiency 
  • Excellent verbal and written communication skills
  • In-depth understanding of complex financial policies
  • Knowledge of database technologies and software 
  • Good strategic thinking skills and the ability to make effective business decisions
  • Excellent team player, leadership and management skills 

 

Director of Finance experience requirements 

A Director of Finance must have at least 10 years of experience in finance, accounting or a related field. Those who have experience working as Loan Officers, Analysts or Accountants typically have the skills and expertise needed to work as Finance Directors. Experience in development and implementation of accounting policies, preparation of comprehensive budgets and team management is necessary. 

 

Director of Finance education and training requirements

A Director of Finance must have a bachelor’s degree in business administration, economics, finance, accounting or other related fields. However, some employers prefer candidates with a master’s degree in business administration or related field. Other employers prefer candidates who have industry-recognised certifications, such as the Chartered Financial Analyst certification and the Certified Treasury Professional credential. 

 

Director of Finance salary expectations

According to Indeed Salaries, the average salary for a Director of Finance in the UK is £81,147 per year. This figure varies depending on factors, including experience, education, location and company. 

 

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Director of Finance job description FAQs

 

What is the difference between a Chief Financial Officer and a Director of Finance?

While the Director of Finance analyses department budgets, observes legal requirements and monitors cash flow, the Chief Financial Officer supervises department strategy and monitors the growth of a company. A CFO focuses on managing the company’s finances, including financial planning, risk management and financial reporting. 

 

Who does a Director of Finance report to?

Depending on the size of the company, a Director of Finance may report directly to the Chief Financial Officer or Chief Executive Officer.  

 

How can you make your Director of Finance job description stand out?

To make your Director of Finance job description stand out, list all the key responsibilities of the position at hand, approximately between five to ten responsibilities. Each responsibility should begin with a present tense action verb. Be transparent about how frequently a task will be carried out or how much time an employee must spend on each task. This helps candidates form an idea of what a typical day may look like. 

 

What should you look for in a Director of Finance CV?

A Director of Finance CV must convincingly and clearly demonstrate how the candidate will deliver a higher return on investment (ROI) than your competitors for the same role. Examine the CV’s experience section and see what the candidate has done to heighten productivity, improve customer satisfaction, streamline processes, strengthen profits, deliver cost savings and increase the revenue of their previous employers.

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