Financial Manager job description
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What does a Financial Manager do?
The Financial Manager is crucial in overseeing the financial health of the organization by managing budgets, analyzing financial data, and ensuring compliance with financial regulations. This role supports strategic decision-making and contributes to achieving company financial objectives.
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What are the Key Responsibilities of Financial Manager
- Develop and manage annual budgets and forecasts.
- Analyze financial reports to identify trends and variances.
- Ensure compliance with accounting standards and regulations.
- Oversee cash flow management to maintain liquidity.
- Coordinate audits and prepare audit reports for stakeholders.
- Implement cost control measures to enhance profitability.
- Collaborate with department heads on budgetary needs.
What are the Skills and Requirements for a Financial Manager?
- Strong understanding of accounting principles and financial analysis techniques.
- Proficient in financial software such as QuickBooks or SAP Finance Module.
- Excellent analytical skills with attention to detail.
- Effective communication skills for presenting complex data.
What are the KPIs to track for Financial Manager?
The Financial Manager's performance is evaluated through accurate budget forecasting, effective cost management, timely reporting of financial statements, and maintaining regulatory compliance without discrepancies or penalties.
Budget Accuracy
Achieving forecasted budget targets within acceptable variance limits.
Cost Management
Reduction in operational costs while maintaining service quality.
Compliance
Adherence to all regulatory requirements without incurring fines
Reports to
Chief Financial Officer (CFO)
Collaborates with
Accounting Team, Department Heads
Leads
Financial Analysts
Are any specific tools or software required for the Financial Manager role?
- QuickBooks
- SAP Finance Module
- Microsoft Excel
What is the qualification of Financial Manager?
Bachelor's degree in Finance or Accounting; CPA certification preferred; 5-7 years experience in a finance management role.
