The Financial Manager is the person who will manage the day-to-day operations of the finance department. The finance manager is someone that will analyze everyday financial activities and subsequently provide advice and guidance to upper management on future financial plans. The goal is to enable the company’s leaders to make sound business decisions and meet the company’s objectives.
Management
- Maintain a documented system of accounting policies and procedures
- Manage outsourced functions
- Manage the day-to-day operations of the finance department
Funds Management
- Forecast cash flow positions, related borrowing needs, and available funds for investment
- Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements
- Use hedging to mitigate financial risks related to the interest rates on the company’s borrowings, as well as on its foreign exchange positions
- Maintain banking relationships
- Assist in determining the company’s proper capital structure
- Arrange for equity and debt financing
- Invest funds
- Recommend appropriate draws, based on historical patterns and expected cash flows
Budgeting
- Manage the preparation of the company’s budget
- Report to management on variances from the established budget, and the reasons for those variances
- Assist management in the formulation of its overall strategic direction
Financial Analysis
- Engage in ongoing cost reduction analyses in all areas of the company
- Review the performance of competitors and report on key issues to management
- Engage in benchmarking studies to establish areas of potential operational improvement
- Interpret the company’s financial results to management and recommend improvement activities
- Review company bottlenecks and recommend changes to improve the overall level of company throughput
- Participate in target costing activities to create products that meeting predetermined price goals
- Assist in the determination of product pricing in relation to features offered and competitor pricing
- Compile key business metrics and report on them to management
- Manage the capital budgeting process, based on constraint analysis and discounted cash flow analysis
- Create additional analyses and reports as requested by management
Additional Accountabilities:
- Oversee the extension of credit to customers
- Accounts Payable
- Accounts Receivable
- Billing and Collections
- Payroll and Benefits Administration
Requirements:
- Proven experience as a Financial Manager – minimum 7 years
- Experience in the financial sector with previous possible roles such as financial analyst
- Extensive understanding of financial trends both within the company and general market patterns
- Proficient user of finance software
- Strong interpersonal, communication and presentation skills
- Able to manage, guide and lead employees to ensure appropriate financial processes are being used
- A solid understanding of financial statistics and accounting principles
- Working knowledge of all statutory legislation and regulations
- BS/MA degree in Finance, Accounting or Economics
- Professional qualification such as CFA/CPA or similar will be considered a plus