Finance Director Job Description: Top Duties and Qualifications

A Finance Director, or Head Finance Officer, works at the executive level of a company and helps make long-term financial decisions regarding the company’s future. Their duties include analysing departmental finances, creating a company budget and ensuring the financial health and stability of the company. 

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Finance Director duties and responsibilities

A Finance Director must have the competency and knowledge to carry out high-level financial decisions for their organisation. Some of their main tasks include:

  • Using financial modelling to simulate potential scenarios
  • Performing financial analysis on the company to predict financial health
  • Monitoring spending and creating budgets
  • Preparing company reports for investors
  • Finding ways to reduce costs and increase profits
  • Collaborating with management to create funding strategies
  • Ensuring adherence to national and international financial regulations
  • Overseeing a company’s payroll and bookkeeping system
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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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Finance Director job description FAQs

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

Depending on the size of a company, only one of these positions may be necessary as they have overlapping responsibilities and duties. A Chief Financial Officer usually analyses the overall strategy of the finance department of a company. They consult directly with executive management to review financial trends and forecast company needs in order to make investment decisions. The Finance Director analyses the company’s budget, ensures financial actions meet legal requirements and reviews monetary inputs and outputs. The Finance Director is  similar to a company’s Accountant, while the Chief Financial Officer is the overall Manager of the finance department. 

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

Start by elaborating on the company’s culture and the type of working environment the candidates can expect from your organisation. Focus on training and development offered to employees that can help them progress in their careers, perhaps as a Senior Finance Officer or Finance Manager in the company. Then highlight the competitive elements your company can offer like salary, pension scheme, life assurance, company car or car allowance and flexible working arrangements. 

Who reports to a Finance Director?

This will depend on the size of the company. A large company will have many Finance Managers or Finance Assistants that provide the Finance Director with the information needed to analyse company profits and losses. A small company may only have a Finance Director and require the heads of every department to report to them instead of Finance Assistants.

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