With so many different job titles in finance and accountancy, it is important to know the responsibilities and functions unique to each role. To help you guide your career in the right direction, GAAPweb have put together a financial manager job description that covers the general responsibilities and requirements you can expect to find in most finance manager jobs.
Overview: what does a finance manager do?
A finance manager’s primary responsibility is to monitor and maintain the financial health of a business. They analyse financial data to produce reports and commentary advising on risks and business improvements for senior executives. Financial managers are involved with budget forecasting, investment, payroll, invoicing, costs and pricing. As a manager they lead, train and motivate finance teams.
Finance manager responsibilities
- Analysis and interpretation of complex financial data.
- Production of weekly, monthly and/or annual reports for managers, directors and senior members of staff. These reports are accompanied by commentary offering business and process improvement suggestions.
- Oversee budget forecasting and preparation, analysing financial trends to make projections.
- Management of the finance team. Offering support, training, development opportunities and motivation to a team of accountants and finance professionals.
- Suggest investment and cost-reduction opportunities to the business.
- Liaise with non-finance managers and staff across the business, advising them on any financial matters as necessary and providing them with the information required to make short and long-term business decisions.
- Monitor financial performance throughout the year and compare against budget forecast, making suggestions for improvement where necessary.
Finance manager qualifications and experience
Fully qualified accountants are usually requested to fill financial manager roles, but there are also many employers that invite applications from part-qualified candidates and individuals qualified by experience. A university degree in a related field such as mathematics, business, economics or accounting is often required, along with extensive experience in an accounting or finance role. Finance managers are also usually expected to demonstrate experience in business development, knowledge of data protection and advanced Excel skills.
What skills are needed for a finance manager?
There are several hard and soft skills that financial managers are often required to have. These skills include:
- Written and verbal communications skills for writing reports and explaining complex financial concepts to non-finance colleagues.
- Leadership skills for effectively managing the finance team.
- Ability to build and maintain strong professional relationships – for influencing and negotiating with management and colleagues.
- Flawless mathematical ability.
- Research and analysis skills – for succinct interpretation of complex data.
- Attention to detail.
- Planning and problem-solving skills.
The responsibilities of a finance manager can vary between sectors and employers, and management responsibility can vary greatly depending on the hierarchical structure of a company, so make sure you read the full job description for each role to get the most accurate representation of what will be expected of you. Browse the latest finance manager jobs across the UK and apply today on GAAPweb.