What does a Finance Director do?
Finance Directors lead a company’s finance department and focus on the current health and stability of a company while also thinking about long-term funding strategies. They collaborate with the executive management of a company to create a budget that will keep the company’s costs down while also looking forwards to potential growth in the future. As head of a company’s financial department, they create and set procedures for all finance employees to follow, as well as cultivate a unique financial culture for the company.
Finance Director skills and qualifications
A successful Finance Director will have various prerequisite skills and qualifications including excellent leadership skills and a strong understanding of the company’s financial situation., these can make a candidate stand out. Other skills to look for include:
- Creativity and critical thinking skills
- The ability to work well with others
- Ambition and a strong desire to succeed
- The ability to work on multiple projects simultaneously
- Strong communication and presentation skills
- Thorough attention to detail
- Proven ability to manage at the executive level
- Understanding of how to use industry software
Finance Director experience requirements
A complete understanding of the company and how to manage finances within the industry is necessary for all candidates. Previous experience in the financial industry, such as a Finance Assistant or Business Adviser, is typically required by most companies. Other experience requirements vary based on the industry and the company. For many organisations, more than two years of experience are necessary to be considered for this position.
Finance Director education and training requirements
Employers require applicants to have a university degree in a relevant subject such as finance, accounting or business studies. After gaining education qualifications, most people will obtain relevant experience through a trainee job with a financial firm or by completing an advanced accounting apprenticeship. Some employers will hire candidates that only have higher education certification in bookkeeping, accounting or financial studies, as long as they also possess many years of experience in the financial sector. Exceptional candidates will also have certification from The London Institute of Banking and Finance.
Finance Director salary expectations
According to Indeed Salaries, the average salary for a Finance Director in the UK is £79, 196 per year. Salary may be dependent on experience, location and company.
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