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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