Finance Manager Job Description: Top Duties and Qualifications

A Finance Manager, or Financial Analyst, is responsible for helping private and public organisations develop and manage financial goals. Their primary duties include reviewing financial information, preparing financial reports and developing strategies that work to reduce financial risk. 

 

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Finance Manager duties and responsibilities

The Finance Manager holds authority over decisions of income, costs, payroll and investments. Some of their day-to-day duties and responsibilities include:

  • Using advanced financial analyses and modelling to simulate economic scenarios and determine the present and future financial condition of the company
  • Researching and reporting on factors that influence the company’s performance and analysing and predicting market trends
  • Developing financial management strategies to reduce financial risk, providing relevant recommendations to maximise profits and assisting executives in decision making
  • Monitoring reporting systems, preparing accurate financial reports and statements, interpreting data, preparing and publishing all financial documents and ensuring adherence to industry regulations
  • Managing accounting, budget, cash flow and reviewing cost-reduction strategies
  • Developing long-term and strategic business plans and organising new funding strategies
  • Developing external relationships with auditors, solicitors, bankers and other statutory organisations

 

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Finance Manager Job Description Examples:

 

Example 1

*Strictly no CV's: *Please apply via the WYCAS application form provided at [website] WYCAS provides essential accountancy support to more than 500 third sector organisations across West Yorkshire, and are seeking an experienced Finance Manager to join us, based in our Leeds office. (NB staff are working from home during COVID-19). The role involves: * Overseeing the day to day finances. * Producing management accounts and reports for the WYCAS Board * Liaising with external auditors, suppliers, HMRC etc * Contributing to WYCAS’s development and growth through financial planning and forecasting The successful candidate will be an experienced Finance Manager with excellent technical knowledge and communication skills. They should demonstrate a commitment to, and understanding of, the third sector and will be willing to undertake further training and development. Closing date for this post: 9:00am Friday June 25th Interviews for this post: will be held on Wednesday July 7th at the Leeds office *Strictly no CV's: *Please apply via the WYCAS application form provided at [website] Application deadline: 25/06/2021 Job Types: Part-time, Permanent Salary: per year Work remotely: * Temporarily due to COVID-19

Example 2

Company Description Mundipharma is a global (ex-US) network of independent associated companies that research, develop and manufacture innovative pharmaceutical medicines and consumer healthcare products. We are an agile and fast-paced company seeking to increase access to health care through programmes and effective partnerships. We are forward-looking and dedicated to bringing innovative treatments to many of the world’s most challenging conditions and diseases including: Pain Management & Supportive Care, Consumer Health, Anti-Infectives, Biosimilars, CNS, Diabetes, Oncology, Ophthalmology, Respiratory and transplantation immunity. We make a difference to patient lives by delivering value to healthcare professionals in 120+ countries across Africa, Asia Pacific, Canada, Europe, Latin America, and the Middle East. Our guiding principles, centred around Integrity and Patient-Centricity, are at the heart of everything we do. We encourage our people to think differently and our inclusive culture of continuous learning and collaboration make Mundipharma a great place to work. For more information visit [website] Job Description * Management of the accuracy, integrity and timeliness of financial, statutory and tax reporting and ensure compliance with any relevant reporting standards and Balance Sheet liability management. * Drive standard processes through principles of simplification, standardisation and automation where appropriate. * Efficiently and effectively lead delivery of the R2R activities to meet the agreed SLA’s and KPI’s and lead the operational reviews to drive continuous improvements to close any gaps in performance working alongside the GPO. With a focus on providing higher quality service as well as transparency to the internal customers. * Manage the monthly/quarterly/annual close periods and ensure completeness of all financial, statutory and group accounting and reporting whilst ensuring compliance with accounting principles/standards and relevant regulations. Controlling operational planning by setting priorities and contents in close consultation with the responsible managers across the divisions. * Ensure timely and accurate account reconciliation reviews of Balance Sheet control accounts supporting the financial accounting process. * Manage short- and long-term operational goals and tactical objectives. Implement processes that are clearly aligned with the business strategy. * Manage the review and reporting of Working Capital across the business * Plan and communicate the reporting cycle, executing it to first-class standards. * Ensure the preparation of correct documentation for the annual finance audit. * Ensure the maintenance and capability of the Finance systems, taking a joint leadership role in any future financial system upgrades. * Ensure the establishment and maintenance of an effective business control framework, commensurate with a business of this scale. * Play a lead role in driving the transformation of the FSSC to promote excellence. * Actively promote the sharing of new ideas and best practice across all areas. * Play a lead role in improving the strength of finance talent within the organisation; recruit and develop individuals to facilitate proactive succession planning at all levels, manage, coach and mentor where appropriate and document end of year reviews and personal development plans. * Build and maintain relationships with the IACs and their respective Finance Partners and Directors to ensure effective delivery of aligned Finance business processes. * Act as a point of escalation for Finance business leaders and ensure timely remediation of issues. * Perform ad hoc requests or processes as instructed by the Head of R2R and be a cover for the team in times of holiday or sickness. Qualifications * University degree in Accounting or Finance * Recognised Accountancy Qualification (ACA/ACCA/CIMA or local equivalent) * Minimum of 10 years practical experience, previous experience working within a shared service environment preferable. * Minimum 5 years experience managing a team in a financial operations enviroment. * Ability to work effectively within a complex management matrix structure. * Must possess "soft skills": conflict resolution and negotiation, personal effectiveness, creative problem solving, strategic thinking, team building, and influencing skills. * High level of commitment and flexibility, poise, communication and teamwork skills * Ability to interact with all levels, influence senior managers and be equally comfortable with senior management in efforts. * Broad, creative, and innovating thinking and the ability to gather extensive amounts of information and synthesize into concise reports and presentations. * Strong financial, IT and analytical skills with an operational focus * Proven track record of driving innovation and leading on organisational changes. * French, Spanish, German or Italian language speakers would be highly preferred. Job Type: Full-time

Example 3

We are looking for a Qualified Accountancy professional to join the senior management team as finance lead working alongside Senior Partners. Key The Finance Manager will provide a strong and positive contribution to all areas of the business both commercially and financially through the delivery of robust financial budgetary controls, management of a small finance team, accurate reporting and identifying areas to improve efficiency and profitability. Attending weekly management meetings, influencing, and sharing best practice Keeping up to date with changes in financial regulations and legislation, putting in place new processes as required and communicating technical changes to colleagues and Business Partners Oversee processing of weekly and monthly payroll of up to 150 staff Informing key strategic decisions by providing cost analysis and other relevant reports to contribute to medium- and long-term business planning Evaluate the finance system and processes, suggesting and implementing improvements Ensure business risks are managed implementing internal controls where needed Key skills and attributes required for this role: A confident team player with excellent communication and presentation skills Strong attention to detail with an investigative nature Analytical approach to problem solving A desire to develop existing skills and knowledge Ability to build strong working relationships with other Managers and colleagues. Hold a professional qualification of AAT /ACMA/ACCA/ACA/ European equivalent Full working knowledge of Sage 50, Sage Payroll and Microsoft Office particularly Excel What on offer for the Finance Manager role: Basic salary inline with experience Contributory pension scheme A vibrant, friendly and unique working environment Onsite parking Excellent staff facilities Opportunity to work for an employer that promotes a positive work life balance This is a great opportunity either for someone trained in practice, looking for a first step into industry or someone looking to step up into a Finance Manager role having had experience with day to day processing tasks or maybe you are just looking for a new challenge and want to be part of a progressive forward thinking company Salary: Relevant to experience Apply Now Back to jobs

Example 4

A new and challenging opportunity has arisen for a Transport Finance Manager based mostly at our site in Lichfield with the occasion travel to our Stafford site as well. This is a permanent opportunity. This is a newly created role to support the continuing growth of the Screwfix contract, the right candidate will have the opportunity to shape the reporting and add real value. * *Hours: * Mon – Fri (08:00am – 16:00pm) * *Salary: *We offer a competitive salary of £45,000 - £50,000 per annum + Extensive Company Benefits *The Role…* * Reporting to the Commercial Manager with functional reporting to the National Transport Manager * Day to day financial control for the open book transport network with c£28m revenue pa * Develop budget and flex mechanisms to drive performance and enhanced understanding of the operational cost drivers * Embed meaningful management information reporting * Develop reporting from the CUBE * Ensure both customer and Wincanton weekly and period reporting is on time and accurate * Build a rapport, develop trust with the customer and colleagues * Ensure confidentiality protecting the client and the business * Ensures relevant financial policies are applied, financial records are accurate, budgets and forecasts accurately completed with regard to underlying operating assumptions * Lead, develop and motivate the Transport Assistant Accountant * Support the transport management team providing regular information relating to performance and budgets * Support Commercial Manager with Adhoc requests and contract wide reporting when necessary *The Person…* * Recognised accounting qualification ACCA/ACMA/ACA * Sound budgeting and ledger knowledge * Demonstrate drive, energy and a commitment to the CI of overall contract performance * Be proactive, inquisitive with a passion for challenging teams to drive performance * Be able to work under pressure whilst maintaining high standards * Must be flexible and appropriately responsive to internal and external customer requests * Excellent customer relationship skills with the ability to develop good working relationships at all levels * Have excellent PC skills and be able to understand and harness IT and systems to benefit the operation * Be able to demonstrate previous transport or other relevant experience *Our Company…* * Wincanton is a leading third-party logistics (3PL) and supply chain solutions provider in the UK and Ireland. As the largest British logistics company, we work in industry sectors as diverse as milk, defence, energy, retail, consumer goods and construction, supporting every stage of development and adding value through our supply chain expertise and innovative approach to logistics challenges. * With over 17,000 colleagues across more than 200 sites and a 3,400 strong fleet of vehicles, we put our customers at the heart of everything we do, and our mission is “to make our customers business’s better, every day.” * Our people are at the core of our business and what makes Wincanton great. That’s why we provide significant opportunities for career progress, as well as training enrichment and multi-skilling, in a dynamic working environment * *Note to recruitment agencies: we prefer to recruit direct, but we do have a Preferred Supplier List for when we need a helping hand. We’ll be in touch if we need you.* Application deadline: 15/06/2021 Job Types: Full-time, Permanent Salary: £45,000.00-£50,000.00 per year Additional pay: * Yearly bonus Benefits: * Additional leave * Bike to work scheme * Company pension * On-site parking * Referral programme * Store discounts Schedule: * 8 hour shift * Monday to Friday Experience: * Management: 1 year (preferred) * ACCA/CIMA (preferred)

What does a Finance Manager do?

Finance Managers analyse a company’s financial transactions and provide guidance and advice to upper management on future financial plans. They influence all major business decisions and their role is important to the success of any company or organisation. Finance Managers work in a range of settings, including the private and public sector. They also work in a variety of industries, including insurance, healthcare, finance and banking. 

 

Finance Manager skills and qualifications

A successful Finance Managers candidate will have various prerequisite skills and qualifications that typically include:

  • Ability to direct others and delegate tasks
  • Understanding of how to take action and seek solutions
  • Strong written and verbal communication skills
  • Analytical skills
  • Ability to work with many other teams or individuals to resolve financial issues
  • Advanced mathematical abilities for compiling and analysing data
  • Attention to detail and in-depth understanding of international and domestic laws and regulations
  • Technological skills and ability to work independently

 

Finance Manager experience requirements

Finance Managers must have at least five years or more of experience in another business or financial occupation, such as Financial Analyst, Securities Sales Agent and Accountant. Any work experience related to business or finance can be helpful.

 

Finance Manager education and training requirements

Employers usually require candidates to have at least a bachelor’s in business administration, economics, finance or accounting. Other fields may be acceptable if they involve management, business or finance. Some companies prefer candidates with a master’s degree. A master’s degree in finance, business administration and economics is ideal.  Much of the training for the Finance Manager role takes place on the job in associate- or entry-level positions. Some employers require candidates to obtain industry-recognised certifications such as the Association of Chartered Certified Accountants (ACCA) certification, Chartered Accountant (CA)  certification, Chartered Management Accountant (CMA) certification and Certified Public Accountant (CPA).

 

Finance Manager salary expectations

According to Indeed Salaries, the average salary of a Finance Manager in the UK is £42,450 per year. This figure varies depending on factors, including experience, location and company. 

 

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Finance Manager job description FAQs

 

What are the different types of Finance Managers?

There are many different types of Finance Managers including: Controllers, that direct the preparation of financial reports forecasting and summarising the company’s financial position. Treasurers and Financial Officers, direct the company’s budgets and oversee the investment of funds, Credit Managers, oversee the company’s credit business, Cash Managers, control and monitor the flow of cash that comes in and goes out of the organisation to meet its business and investment needs and Risk Managers. Risk Managers minimise financial risk ,by using hedging and other practices to limit the organisation’s exposure to financial uncertainty.

 

What is the difference between a Finance Manager and Director of Finance?

Finance Managers and Director of Finance are both responsible for the management and growth of funds within an organisation. While there is some crossover in their responsibilities and overall objectives, the main difference between them is the area of authority, as Director of Finance utilise the information that the Finance Manager provides to better evaluate the company’s financial future. 

 

Who reports to a Finance Manager?

The Assistant Financial Manager usually reports to the Finance Manager. They work under the supervision of the Finance Manager or Director of Finance. They prepare reports on the payrolls, expenses, invoices and billing. 

 

Do Finance Managers have different responsibilities in different companies?

The roles of Finance Managers vary from one company to another. In larger organisations, the role may focus on strategic analysis, while in smaller companies, a Finance Manager may be responsible for the preparation and collection of accounts. 

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