The Finance Director will be responsible for most or all of the following areas, however, the degree to which elements of these duties can be delegated to other employees depends on the company. The preparation of financial reports and briefings. This area includes tax returns, balance statements, and any legislative requirements such as reporting and disclosure. Research, preparation and submission of budgets.
Ensure that all financial matters are in accordance with legislation and ethical accounting practices. The preparation and implementation of tender documents and purchasing practices. The management of any company investments or capital reserves. Management of dividends and shareholders.
Potentially, responsibility for company insurance, licensing, contracts, supplier relationships, and import-export requirements. If they are a formal director of the company, they will be required to exercise the duties and responsibilities of a director. Managerial Duties
Provide direction and leadership to the department.
Supervisory responsibility for accounting procedures.
Supervisory responsibility for payroll.
Recruitment, motivation, selection, training and promotion of financial staff. Any other areas which report to the Finance Director – i.e. Quality Assurance, Human Resources. Strategic Duties
Advise the CEO and board of directors on financial strategy and its impact on company objectives. They should also have input into company objectives and whether they are realistic given the current and projected financial situation. Regularly receive financial reports and compare sales and income targets and projections against the reported figures. They should then suggest improvements to projection methods and analyse any failings. Assist the board in sourcing prospects for future income by analysing financial trends and any gaps in the market or potential opportunities. Participate in financial, human resources and strategic planning....
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