Position of Finance Manager: Requirements and Skills
September 22, 2021
There is a need for a good finance manager in every business or corporation. So, what is the role of the finance manager in all of this, exactly? In what ways does this position of finance manager recruitment require specific qualifications and skills? Knowing more about this position enables businesses to find the right candidate more quickly and easily.
To become a finance manager, you must have analytical thinking, data-oriented thinking, and the ability to write an effective synthesis report.
Who is the finance manager?
A finance manager is the person who oversees and is accountable for a company’s financial health. They analyze data, generate financial reports, plan budgets for the organization’s short- and long-term goals, and collaborate with other executive positions to make the best business decisions for the company.
The finance manager’s responsibilities to the company
As a member of the Board of Directors, the finance manager provides financial information and advice to help the company make the best business decisions. In addition to establishing the company’s vision, mission, and annual business goals, the finance manager collects and analyzes financial data and collaborates with other departments to develop plans to support the company’s goals, thereby optimizing business processes and facilitating marketing and sales.
The finance manager is also in charge of analyzing, monitoring, controlling, and consulting on financial activities in order to maximize the company’s profits. The ERP system is used to automate, optimize resources, and coordinate between departments, resulting in accurate information being updated and assisting the management team in making quick and timely decisions. The finance manager is also in charge of identifying and mitigating risks, limiting financial problems, and ensuring the safe and effective operation of the business.
The finance manager is in charge of controlling the company’s cash flow based on the previous year’s data and reports, as well as market analysis and forecasting future financial trends. Simultaneously, the finance manager must monitor and manage the budget in order to balance capital and debt for current and future needs, ensuring continuous business operations. Furthermore, assisting and maintaining a good relationship with investors allows finance managers to quickly grasp the market and makes raising capital more convenient.
Business requirements for the finance manager
Candidates with degrees in accounting, financial management, or economics will have an advantage in the role of finance manager. Candidates must also have at least three years of experience in a similar position. Furthermore, to become a finance manager, you must have strong communication and negotiation skills, as well as analytical thinking, data-oriented thinking, and the ability to write an effective synthesis report. Candidates for this position must also have strong human resource management skills. Furthermore, due to the nature of the job, which requires frequent exposure to domestic and international financial markets, English is required.