8/7/2019 Financial manager job description and activities
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Financial manager :Job description and activities On this
page
1. Job description
2. Typical work activities
Job descripti o nA financial manager is responsible for
providing financial advice and support to clients and colleagues
toenable them to make sound business decisions. Specific settings
vary enormously and include bothpublic and private sector
organisations, such as multinational corporations, retailers,
financial institutions,NHS trusts, charities, small manufacturing
companies and universities.
Financial considerations are at the root of all major business
decisions. Clear budgetary planning isessential for future
planning, both short and long term, and companies need to know the
financialimplications of any decision before proceeding. In
addition, care must be taken to ensure that financialpractices are
in line with all statutory legislation and regulations.
Financial managers may also be known as financial analysts or
business analysts.
Typical w o rk activitiesThe roles of financial managers vary
significantly. The generic nature of the job title can be
misleadingand job descriptions should be scrutinised carefully as
the level and scope of the responsibilities involvedin any role
coming under the banner of financial management can differ
enormously. In larger companies,for instance, the role is more
concerned with strategic analysis; in smaller organisations, a
financialmanager may be responsible for the collection and
preparation of accounts.
Typical activities include:
providing and interpreting financial information;monitoring and
interpreting cash flows and predicting future trends;analysing
change and advising accordingly;formulating strategic and long-term
business plans;researching and reporting on factors influencing
business performance;analysing competitors and market
trends;developing financial management mechanisms that minimise
financial risk;conducting reviews and evaluations for
cost-reduction opportunities;managing a company's financial
accounting, monitoring and reporting systems;liaising with auditors
to ensure annual monitoring is carried out;developing external
relationships with appropriate contacts e.g. auditors, solicitors,
bankers andstatutory organisations such as the Inland
Revenue;producing accurate financial reports to specific
deadlines;managing budgets;arranging new sources of finance for a
company's debt facilities;supervising staff;keeping abreast of
changes in financial regulations and legislation.
