Senior Finance Executive Job Description – The Senior Finance Executive’s role is to maximize business opportunities. Seniors in finance will work on deals for their businesses, including mergers and acquisitions, financing, and buying and selling financial products.
The Senior Finance Executive prepares information on the financial direction of the business and undertakes all reports to assist in strategic financial planning.
Senior Finance Officers handle all aspects of large business transactions, including due diligence.
Key Duties and Responsibilities of Senior Finance Executive
- Oversee and manage the day-to-day accounting and finance functions at the program level, including timely recording of transactions and managing cash, banking, payroll, inventory, and accounts receivable and payable.
- Plan and implement systems for financial operations in the country office and area program offices by the LWF and donor regulations. Including strategies for managing cash flow, budgeting, standardization of accounting information, internal controls, financial reporting, financial record keeping, grant management, and compliance.
- Prepare monthly standard accounting reports to LWF headquarters for review by the Finance and Administration Manager, including general ledger files, account reconciliations, expenditures by cost center/project, as well as other financial information in a timely and proper manner.
- Maintain banking relationships and plan and monitor the country’s cash flow requirements to assure smooth implementation of LWF Global Service projects.
- Prepare monthly management reports for the Finance and Administration Manager and program staff as required, expenditures by cost center/project and other financial information, in an accurate and timely manner.
- Training and supervision of finance staff in the program.
- Prepare financial reports for donors’ review by the Director of Finance and Administration in line with donor requirements and templates.
- Assist in developing annual fiscal year budgets with the Director of Finance and Administration.
Eligibility for Senior Finance Executive
- Bachelor’s Degree in Accountancy or with at least three years in a similar capacity
- Must have CA/CPA qualifications
- Advanced in MS Office Skills with strong Excel proficiency
- Candidate from Manufacturing background preferred
Senior Finance Executive skills
Finance managers acquire many skills throughout their education, experience, and day-to-day responsibilities. Successful finance managers are adept at many of the following skills.
CFOs work with individuals or as part of a team and generally lay a strong foundation for leading finance teams. Managers know how to increase efficiency and productivity while keeping confidence to move the company forward. Influential leaders demonstrate the ability to direct others and delegate tasks.
Good CFOs take responsibility for situations and formulate effective solutions to encourage confidence in their leadership skills.
Whether it is budget analysis or investment risk calculation, finance managers are adept at taking action and finding solutions. Managers have a deep understanding of the company’s financial goals and find effective ways to achieve those goals without putting the business at risk.
Since not everyone comprehends complex financial data or documents, adequate finance managers must have vigorous written and verbal communication skills.
Finance managers can explain complex formulas or analyses to present information in an accessible manner. Finance managers may work with many departments, and the ability to change their communication style to convey information quickly is a vital skill for successful managers.
As part of the decision-making procedure, finance managers exhibit logical thinking. Effective managers can consider all options to provide a comprehensive and understandable analysis. Financial managers use analytical skills when writing contracts, creating budgets, and forecasting profit and loss.
Finance managers work with many individuals or teams to solve financial problems. They may oversee activities or tasks and their ability to work seamlessly with other departments and individuals.
Successful finance managers deal well with people and encourage teams to finish calculations and computations efficiently and accurately.
Finance managers work with vast sums of money and depend on advanced mathematical capabilities to manage and analyze data.
Professional financial managers are well versed in algebraic mathematics and can understand and create formulas. Effective finance managers are familiar with international finance and can decipher various financial documents.
Pay attention to the details.
Finance managers must manage accuracy when dealing with numbers. Since they oversee how and where a company spends its money and how and where profits are accumulated.
Finance managers must divide their attention into the company’s many financial functions. Financial managers need to understand local and international laws and regulations when writing or analyzing contracts.
Finance managers operate with additional financial documents, including spreadsheets, contracts, accounts, and forecasts. Organizing information is critical to success as a finance manager as they may require finding and retrieving data as needed.
As advancements in technology and automation enter the workplace, finance managers may discover themselves working with more than spreadsheets and ledgers.
Effective finance managers are comfortable with technology and can easily use various software and applications to their advantage.
Ability to work independently
Successful finance managers don’t need a lot of supervision because they understand what needs to be achieved and how to achieve company goals.
Good finance managers are beginners themselves who can prioritize tasks, but their leadership skills enable them to motivate others to work independently.
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