Finance Manager
Job Description
The Finance Manager is responsible for overseeing and managing the financial operations of an organization. This role involves planning, directing, and controlling financial activities to ensure accurate financial reporting, effective cash flow management, and sound financial decision-making. In addition, the Financial Manager collaborates with cross-functional teams and senior management to develop financial strategies, analyze financial data, and provide insights and recommendations to support business growth and profitability.
Duties and Responsibilities
- Develop and implement financial planning strategies, including budgeting, forecasting, and financial modeling.
- Analyze financial data, performance indicators, and market trends to provide insights and recommendations to senior management.
- Monitor and analyze financial results, variances, and key performance indicators to identify areas for improvement.
- Prepare financial reports, including income statements, balance sheets, cash flow statements, and financial forecasts.
- Coordinate the budgeting process and collaborate with department heads to develop and manage budgets.
- Monitor and control expenses to ensure adherence to budgetary guidelines and cost reduction targets.
- Conduct regular cost analysis and identify opportunities for cost optimization and efficiency improvements.
- Implement financial control systems and policies to safeguard assets and maintain financial integrity.
- Develop and implement cash flow forecasting and management strategies to ensure adequate liquidity and optimize working capital.
- Monitor cash flow trends, analyze cash flow gaps, and recommend strategies to mitigate risks.
- Collaborate with treasury and accounting teams to manage banking relationships, cash transfers, and cash flow transactions.
- Review and approve major expenditures, contracts, and financial commitments.
- Ensure timely and accurate financial reporting in accordance with regulatory requirements and accounting standards.
- Oversee the preparation of financial statements, including income statements, balance sheets, and cash flow statements.
- Coordinate external audits and ensure compliance with audit requirements.
- Monitor and maintain internal controls to safeguard company assets and ensure compliance with financial policies and procedures.
- Develop and implement financial strategies aligned with organizational goals and objectives.
- Assess financial risks and develop risk mitigation strategies.
- Conduct financial analysis to support investment decisions, capital allocation, and business expansion.
- Collaborate with senior management to evaluate business opportunities, mergers and acquisitions, and strategic partnerships.
- Provide leadership and guidance to the finance team, including training, coaching, and performance management.
- Foster a culture of collaboration, continuous improvement, and accountability within the finance department.
- Promote professional development and ensure high competence and expertise within the team.
- Collaborate with internal stakeholders, such as department heads and senior management, to understand financial needs and support decision-making.
- Liaise with external stakeholders, including auditors, bankers, and regulatory bodies.
- Communicate financial results, forecasts, and recommendations to stakeholders clearly and concisely.
- Provide financial insights and guidance to support business strategies and initiatives.
Qualifications
- Bachelor’s degree in Finance, Accounting, or a related field. A Master’s degree or professional certification (e.g., CPA, CFA) is advantageous.
- Proven experience (typically 5+ years) in financial management, preferably in a managerial role.
- Strong knowledge of financial management principles, practices, and accounting standards.
- Proficiency in financial analysis, financial modeling, and budgeting.
- Solid understanding of financial software and systems.
- Excellent analytical and problem-solving skills.
- Strong attention to detail and accuracy.
- Excellent communication and interpersonal skills.
- Ability to collaborate effectively with cross-functional teams.
- Strong leadership and team management abilities.
- Sound judgment and decision-making capabilities.
- Knowledge of relevant laws, regulations, and compliance requirements.
- Exempt Status
- Exempt