The Finance Manger Job in the 21st Century
“Finance Manager” is broad term for a senior manager who is in charge of corporate finance matters in company. In a smaller company, the finance manager is an all round corporate finance whiz who reports directly to the CEO (chief executive officer). In larger companies, a finance manager may report to a CFO (chief financial officer) or even the senior Treasurer. In the latter, the finance manager might specialise in a certain aspect of corporate finance.
If you are interested in becoming involved in the corporate finance sector as a finance manager then you will need to learn some things about the industry. For instance, do you know exactly what it is that a finance manager does? Knowing the job will make the difference, both if you are studying and if you are interviewing for finance manager jobs. Do you also know exactly what the corporate finance division of a company does? If you do not know these things you had better find out fast! Let us help you …
Corporate finance is essentially the division in a company which is in charge of:
- 1. Finding money to run and grow the business
The finance manager will deal with financial bankers, investment bankers and individual investors to find funds for the operation and growth of the business. He or she will be skilled with financial calculations and budgeting, be an excellent salesperson to convince investors to come on board and - 2. Set financial policies and monitor
The finance manager will set financial policies including credit terms, oversee compensation/remuneration of staff, maintain cash flow budgets and oversee spending in all operating areas including marketing expenditures, procurement and credit policies. The financial manager will work closely with company accountants and auditors to ensure accounting and finance standards are met. - 3. Acquisitions and mergers
The finance manager has a big role in the growth of the company through acquisitions and mergers (and vice versa in de-merger situations). Analysis of possible acquisitions and setting finance standards within acquired assets is vital for success in growth. The financial manager will again work with external specialist in conducting due diligence and later to make the merger work. - 4. Manage cash investments and future finance strategy
If a company has positive cash flow on hand, the finance manager must find the best way to invest it so that maximum value is derived. Should it be put into buying assets or into interest bearing securities or bonds. The finance manager is strong in budgeting and has very good knowledge of financial banking and investment banking products.
The finance manager usually has a team of subordinates working for her/him. They could include a finance associate if in a smaller company. The finance associate takes charge of research, analysis, calculations, report write ups, credit applications and other paperwork issues. In a larger company the finance manager may have on the team a financial controller, credit manager, cash manager and investors relations officer each of whom specialise in a certain area of corporate finance.
A ‘finance manager’ in the 21st century has a lot of responsibilities. Beside being forward thinking and strategy focused, he or she must be able to manage a team, deal with a whole host of external specialists, solve problems quickly on a day to day basis and report to the CEO or CFO. An experience finance manager can expect excellent career progress towards treasurer, CFO and even other executive roles within the corporate government structure.
So multi-tasking leadership types with initiative; good with numbers and planning software; experienced as finance associate; good with people; excellent problem solver – please apply! The finance manager position is calling out to you.