The Financial manager

The Financial manager

Financial considerations are at the root of all major business decisions. Clear budgetary planning is essential for both the short and long term, and companies need to know the financial implications of any decision before proceeding. In addition, care must be taken to ensure that financial practices are in line with all statutory legislation and regulations.

Financial manager is responsible for aiding business planning and decision-making tasks by providing appropriate financial advice and undertaking related accounts administration. Financial managers may also be known as financial analysts or business analysts.

A financial manager is responsible for providing financial advice and support to clients and colleagues to enable them to make sound business decisions. Specific work environments vary considerably and include both public and private sector organisations, such as multinational corporations, retailers, financial institutions, NHS trusts, charities, manufacturing companies, universities and general businesses. A wide range of organizations employ financial managers including: financial institutions, supermarkets, insurance companies, manufacturers, charities, utilities, local government, health authorities, industrial organizations, retailers, universities/colleges, IT companies and engineering firms.

Job description

Job title Financial Manager

Team Financial Department

Reports to General Manager

Direct Reports President

Key Relationship Internal: Counters, General Manager, Purchasing Manager, Sales Manager

External: Bank, suppliers, auditors

Basic Function:

The finance manager should manage funds in such a manner as to maximize return on investment while minimizing risk, and while also ensuring that an adequate control structure is in place over the transfer and investment of funds. Further, the finance manager engages in financial analysis in such areas as forecasting, budgeting, engaging in cost reduction analysis, and reviewing operational performance. The position is considered to be more senior than the financial analyst position.

Work activities

• Provide and interpret financial information

• Monitor and interpret cash flows and predict future trends

• Analyze change and advising accordingly

• Formulate strategic and long-term business plans

• Research and report on factors influencing business performance

• Analyze competitors and market trends

• Develop financial management mechanisms that minimize financial risk

• Conduct reviews and evaluations for cost-reduction opportunities

• Manage a company's financial accounting, monitor and report systems

• Operate with auditors to ensure annual monitoring is carried out

• Developing external relationships with

...