A financial manager is responsible for providing financial advice and support to clients and colleagues to enable them to make sound business decisions.

Clients can engage with a FC on a part time, interim or full time basis depending on specific requirements and budget

Financial considerations are at the core of all major business decisions. Clear budgetary planning is essential for both the short and long term,

and companies need to know the financial implications of any decision before proceeding with hiring.

In addition, care must be taken to ensure that financial practices are in line with all statutory legislation and regulations.

Financial managers may also be known as financial analysts or business analysts.

Typical work activities

The roles of financial managers can vary enormously. In larger companies for instance, the role is more concerned with strategic analysis, while in smaller organisations,

a financial manager may be responsible for the preparation and submission of accounts.

In general, job descriptions across roles may include:

  • providing and interpreting financial information;
  • monitoring and interpreting cash flows and predicting future trends;
  • formulating strategic and long-term business plans;
  • developing financial management mechanisms that minimise financial risk;
  • conducting reviews and evaluations for cost-reduction opportunities;
  • managing a company’s financial accounting, monitoring and reporting systems;
  • liaising with auditors to ensure annual monitoring is carried out;
  • developing external relationships with appropriate contacts, e.g. auditors, solicitors, bankers and statutory organisations such as the Inland Revenue;
  • producing accurate financial reports to specific deadlines;
  • managing budgets, cash flow reporting and financial forecasting
  • Hiring, motivating and supervising staff;
  • keeping abreast of changes in financial regulations and legislation.

 

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