The role of a finance director is the supervision of the overall management of the financial activities of the company he works for. The planning, organisation and the controlling of the financial resources of the company require his active participation. The chief duty of this professional is the effective management of the finance department of the company but there are many other important duties that this high-ranking prestigious position entails. Following are the significant responsibilities performed by a finance director.
- Managing the financial resources of the company and conducting resource planning in view of future requirements.
- Performing strategic planning of the company.
- Monitoring the financial budget preparation and presenting report to the Board of Directors of the company.
- Overseeing the business performance and development and devising steps and measures for further improvement.
- Communicating with the senior as well as the junior management professionals of all departments since every department of the company is connected with finance department directly or indirectly.
- Designing the financial policies of the company, setting rules and regulations and ensuring that each department of the company follows them properly.
- Monitoring the accounts and controlling all departments of the company.
- Motivating and encouraging the staff for producing better quality work and more effective and efficient service.
- Preparing financial reports after discussing with all the departments of the company and submitting the reports to the higher management.
These are the responsibilities that you have to shoulder as a finance director. If you want to become a finance director, you should know that acquiring a graduation degree in finance or business is a must to enter in this profession. It is wise to work hard and put sincere efforts right from the time of high school to make a successful career as a finance director. If you are in high school, you can take up subjects such as mathematics, economics, finance and accounting and English. Study hard to secure good marks and to get admission in one of the top business schools.
After completing high school, you need to pursue a bachelor’s degree and then, a master’s degree in a finance or business discipline. Candidates having an advanced degree in finance is preferred by most employers for a high-ranking position of a finance director. It is extremely helpful to supplement your college and university education with relevant course-works. Interim finance director jobs also require these qualifications.