Financial manager: functions and responsibilities. Financial manager job description

In the priority goals of any company, there should be an item, the essence of which is to effective management resources. Much depends on the strategy chosen by the firm. This can influence the formation of management principles. cash flows, as well as to determine the relationship that has developed between different subjects of economic activity. And in this review, we will try to consider what constitutes such a specialty as Financial Manager.

Who can influence the effective operation of the company?

Accounting, control, distribution of resources and other similar functions are assigned to the economic department. Its employees are obliged to be responsible for the competent implementation of the relevant policies of the enterprise. They are obliged to create such conditions that will contribute to the effective operation of the company. A financial manager must solve a variety of tasks, which can be very many. Among them, it is worth highlighting only those that the employee will have to deal with most often.

The main tasks that a specialist must solve

So what are the challenges that need to be addressed?

1. It is necessary to find options for the most efficient use of available resources.
2. It is necessary to optimize cash flow and minimize possible risks.
3. It is required to correctly assess the potential of the enterprise.
4. Solutions should be sought to help achieve economic stability.
5. You need to plan and control your expenses.
6. The specialist must work with clients.

It is also necessary to solve problems of an organizational nature. The functions of the financial manager should include participation in the budget process and ensuring the functioning of the treasury. The activity of a specialist involves the exercise of control over economic activity, cash flow analysis, study of the possibilities of using a variety of tools within the framework of the company's policy.

Simple duties that an employee must perform

What else can be said about such a specialty as a financial manager? The duties of this employee are quite extensive. Only the most important of them can be singled out.

1. He must analyze the balance sheet.
2. He is obliged to understand reporting (accounting, operational and static).
3. He must verify financial information.
4. What else should a financial manager do? The duties of this employee include the analysis of the results of production and trade and financial activities.
5. He must analyze and evaluate the economic efficiency inherent in the measures regarding the investment of money.
6. The employee is obliged to exercise control over the movement of cash flows.
7. He must predict the outcome of investing money, evaluating and making final decisions.
8. Responsible for developing application programs financial resources.
9. He should draw up financial plans, reports on the use of resources and the achievement of indicators.
10. He is responsible for the preparation of documentation regarding financial matters for submission to banking, tax organizations.
11. Its functions include monitoring the achievement of indicators inherent in the financial plan and programs regarding the efficient use of resources.

More complex responsibilities

The activity of a financial manager involves the performance of more complex responsibilities. They are the following:

1. The specialist should be engaged in the formation of monetary policy.
2. He is obliged to provide foreign exchange activities.
3. His responsibilities include developing a strategy, as well as participating in the formation of business plans.
4. He must deal with financial risk insurance.
5. He is obliged to conduct pledge, trust and leasing operations.
6. The specialist must analyze the financial and economic activities of the company, while considering the market situation.

Subtleties that must be taken into account

What other nuances should such work take into account? financial manager at present stage should be able to adapt to the conditions external environment that can change rapidly. At the same time, he needs to quickly develop an enterprise strategy.

What should a financial manager consider? Management of a strategic nature is closely related to the process of developing a long-term course for the development of the company, as well as its implementation, through the use of these business plans.

Depending on the size of the company, as well as what goals it has, the above functions and tasks of the financial manager can be modified, detailed or expanded. For example, investment policy may affect not only the implementation of cash investments. It can also mean investing in authorized capital another firm or the issue of its own securities. Funds from their placement should be used in an optimal way.

Using software tools to solve problems

In his work, the financial manager has to use the most different instruments. The process, which involves accounting and control, is quite complex and responsible. A specialist cannot be mistaken, as he is engaged in asset management of the enterprise. In order to improve the quality, as well as to systematize the processes as much as possible, the company introduces various programs with wide functionality. This approach allows you to optimize labor and time costs, increasing efficiency. Accordingly, the activities of such a specialist as a financial manager are simplified.

Key points regarding the job description

What should an employee job description include? It must reflect absolutely all the duties that will be assigned to the specialist. In addition, it must take into account the powers that will be vested in the financial manager. This will help him understand his rights. Accordingly, in the future, he will be able to more effectively implement his activities in full accordance with the provisions of the instructions.

The development of job descriptions takes place taking into account the peculiarities of the activities of specialists in certain companies. However, there are also similar parameters.

1. Basic provisions.
2. Qualification requirements.
3. Responsibilities.
4. Criteria for evaluating the quality of tasks performed.
5. Worker's rights.
6. The powers and responsibilities of a leader.
7. The responsibility of the specialist.

Items should be described clearly and completely.

When compiling a job description, it is necessary to clearly and completely prescribe all the provisions. This approach will not allow the company's employees to irresponsibly approach the solution of tasks. In addition, based on the provisions of the instructions, the financial manager will be able to more systematically organize labor process while using their rights and powers more productively.

If the job description is compiled with high quality, then the recruiter will be able to fill empty vacancies in the most effective way. He will evaluate the resume, guided by the provisions of the job description. Using this approach, you can find not only a professional financial manager, but also other specialists, regardless of their specialization.

Conclusion

In this review, the main tasks, functions and responsibilities of a financial manager were considered. However, it should be understood that this is only general information, and much will depend on a particular company, on its size and specialization.

Even 20 years ago in Russia, the duties of a financial director were performed by a staff of accountants. Today, in conditions market economy the country needs effective managers who can manage financial flows and engage in business development. In the article, we will consider the concept, responsibilities and algorithm of actions on how to become a financial director.

Responsibilities of the Chief Financial Officer

The financial director is the head of the financial division of the enterprise. In some organizations, another definition of this position is used - financial adviser to the CEO.

The specifics of the work of this employee is similar to the duties of the chief accountant:

1. Manage the activities of the economic departments of the organization.
2. Determine the economic line of development of the organization. Develop measures to ensure the financial growth and stability of the company and monitor their implementation.
3. Management and control over the financial flows of the enterprise.
4. Securing the organization economic security, risk analysis and control over the performance of the activities of financial units in accordance with the legislation of the Russian Federation.
5. Financial statements.

Job responsibilities of the financial director may vary depending on the specifics of the organization. In some enterprises, he only performs the functions of the chief accountant.

Requirements for a financial director

It is extremely rare for organizations to consider applicants for the position of financial director from outside. Usually, it is more profitable and safer for an enterprise to hire an employee who has already established himself within the company. Work experience, of course, is an important indicator, but far from the last. Consider a list of the main requirements that must be considered when applying for the vacancy of a financial director.

What it takes to become a CFO:

1. Higher economic education in the following specialties - banking, business economics, accounting and auditing, finance and credit. When considering applicants for a position, preference is most often given to those who have an additional legal education.
2. At least 3 years of experience in the financial sector.
3. Knowledge of the program "1C" and confident use of a PC.
4. Negotiation skills for such a position are necessary, as the CFO is involved in negotiations with partners and is authorized to solve everything important points organizations associated with the movement of funds.
5. Knowledge of the legal and regulatory framework.
6. Knowledge in tax, accounting and auditing.

In most organizations, the requirements for specialists of this level are identical, but there are also specific requests. This must be known in advance.

How to become a financial director from scratch

Here, rather, we are not talking about a large company, but about a young organization that is just starting its journey. In such cases, the probability of taking the place of a financial director without having the necessary experience and skills increases several times.

In small and medium-sized businesses, the position of chief accountant may be referred to as a financial director. Wherein the right skills, most likely, it will not be possible to get, therefore a career outside the organization with such “experience” is unlikely to succeed. Therefore, first you need to familiarize yourself with how they become financial directors and how this position differs from the position of chief accountant.

How is a CFO different from a Chief Accountant?

The work of the financial director is closely related to the duties of the chief accountant, but there are also fundamental differences.

The main difference is that the competence of the financial director has the ability to direct the capital of the company for certain purposes as part of the development of the enterprise, while the chief accountant does not have such obligations.

It is also worth noting that the work of a financial director is directly related to working with business partners. The chief accountant interacts only with government agencies.

The Chief Financial Officer is responsible for analyzing the market and effectively allocating the capital of the organization in accordance with the needs of the firm. The duty of the chief accountant is to control the legality of all financial transactions of the enterprise.

It follows from the above that these two positions are at the same level, but the position of financial director is still considered the next step after the work of the chief accountant. Therefore, it is worth familiarizing yourself with the algorithm of actions on how to become a financial director after the chief accountant.

How can a chief accountant become a financial director?

As practice shows, one experience in accounting and an economic diploma is far from enough. Therefore, we will consider ways for the chief accountant to become a financial director:

1. As a rule, chief financial officers who previously worked as chief accountants have management and business management courses behind them.
2. Many accountants have an internship as a tax or financial advisor before becoming a CFO. It will be better if the specialist gains experience in the position of deputy.
3. Additional legal education is considered a definite plus in choosing a specialist for the position of director of finance.

Professional qualities of a financial director

Apart from general requirements For the position of financial director, a specialist must have a number of professional qualities that are needed at work.

The financial director is right hand general director. Often, the reliability of an organization (as a partner) is judged precisely by the work of a financial director, so the first qualities that he must possess are punctuality and responsibility.

Analytical mindset - the ability to quickly assess the risks and benefits of a particular operation.

Stress resistance is an integral quality of a person who wants to take the position of financial director. A high position is always a great responsibility, therefore, TOP managers most often suffer from nervous conditions, such as depression and apathy, which quite negatively affects the work process.

If a specialist has all the qualities that are necessary for this position, then, for sure, he will not have problems in his work.

How to Become an Effective CFO

Getting a CFO position is not easy, but it is even more difficult to earn a good reputation in this area. Effective managers are in great demand in the labor market, but organizations put forward serious requirements for this specialty. Still, the financial director must manage all the cash flows of the enterprise and at the same time make the work profitable. Therefore, the issue of work efficiency worries many.

Before becoming a successful financial director, a specialist, at a minimum, must receive an economic education for the very understanding of financial processes. At the same time, the director of finance is obliged to acquire new knowledge and skills every day, since the supply and demand market is quite flexible. Therefore, a specialist must be able to respond to all changes in the service sector that concern his enterprise.

Quite often, top managers take courses in public speaking and sales skills. The duties of the financial director include negotiations with business entities. To convince partners of the need for a particular operation, the skill of managing a conversation is required.

In conclusion

The question of how to become a financial director worries many. There are many manuals and books, films and trainings that offer various ways to achieve the goal - to take the position of director of finance. All this can be used as additional tool in overcoming obstacles on the way to the coveted position. But still, the future director must understand that there is nothing to do in this profession without professional knowledge and experience.

- a document that defines the rights, duties and status of this specialist within the company. The instruction also defines the subordination and requirements for this employee. Let's figure out what exactly such a document is and how it is compiled.

What is a financial manager?

The modern economy is developing so rapidly that new professions and positions are constantly appearing, which no one had even heard of before. This is the profession of a financial manager. What does this specialist do?

In practice, the word "manager" is understood as a person engaged in one of the areas of management (management of some area of ​​activity), increasing profits in it and reducing costs. Thus, a financial manager is a person who manages the cash flows moving within the company, as well as between it and contractors under contracts.

Moreover, the position of financial manager is introduced only at large enterprises. In small firms, the tasks of implementing financial management are solved jointly by the head of the company and the chief accountant, who is entrusted with control functions. In large companies, financial management is often carried out by a special department, department or other unit in the internal structure. If the creation of such a unit is impractical, the manager can act as an employee directly reporting to to CEO(in this case, the financial manager is often referred to as the financial director).

With all this unified requirements the title of such a position is not established by law, a common practice for all companies operating in the financial sector has not yet been developed. However, determining the place of the financial manager in the structure of the company is extremely important, therefore it is highly desirable to display this information in the job description - a document that defines the rights, duties and responsibilities of the employee.

The role of the job description of the financial manager

Job description financial manager does not apply to documents that are always required by law. However, such a document is extremely useful, therefore, in most cases, it is compiled at those enterprises where the position of a financial manager is being introduced. The benefits of having such an instruction are manifested in the following:

1. It makes it possible to clearly delineate the responsibilities of the financial manager and other employees working in related areas. For example, partial overlap can be observed between the responsibilities of a financial manager and an accountant - and just the instruction allows you to specifically determine which of them and how will act in different situations.
2. It allows the employee to clearly know what exactly he is obliged to do. This allows him to clearly focus on specific responsibilities and understand what management's demands may be unreasonable. It also improves the manageability of the company, since the administration knows exactly what and from whom it can be demanded.
3. The instruction allows you to objectively judge the quality of the employee's work. If he fails to fulfill the obligations listed in this document, this may be the basis for the application of disciplinary measures (reprimand, deprivation of bonus, etc.). Also, the courts, in the event of a dispute between the employee and the company on issues related to the validity of the dismissal, require the submission of a job description. If it is not available, it can be a serious problem for the company.

In addition, the job description specifies:

• what place does the manager take in the overall structure of the company, to whom he reports and whom he can manage;
• what is his competence, what are the requirements for a person applying for this position;
• what rights he has;
• what and in what cases responsibility he bears in accordance with the legislation and internal regulations of the enterprise.

The structure of the job description of the financial manager

The law does not establish mandatory requirements for how the job description of a financial manager should look and what parts it should consist of. However, there are regulations that should be guided by when developing such documents. These include, in particular:

1. Qualification directory of positions (KSD), adopted by the Ministry of Labor of the Russian Federation in 1998. In 2003, it was supplemented by the description of the position of "CFO", which can be used as the basis for the instruction intended for the manager, with the adjustment that he may not act as one of the senior employees.
2. GOSTs for office work. They only concern external design documents, however, may be important in the preparation of any internal act of the enterprise, including the job description. For example, GOST R 7.0.8-2013, concerning office work and archiving, gives definitions of terms used in document management; GOST R 6.30-2003 describes the rules regarding the placement of the neck and other details, documentation forms, etc. All this information will allow you to prepare the job description properly.

Typically, the job description of a financial manager is built according to the following scheme:

1. General provisions. Here it is fixed to which category the financial manager belongs in a particular organization (he can be both a specialist and a leader if he has subordinates), to whom he reports, who is appointed and dismissed. If necessary, it also states here what qualifications he must have to occupy the position (education, work experience, knowledge of specific regulations, etc.).
2. Responsibilities assigned to this employee. They will be described in more detail below.
3. Rights vested in the employee. In relation to the financial manager, it is required to indicate at least the right to sign the relevant documents, the right to correspond with divisions / branches of the company and third-party organizations, the right to request and receive information necessary for work.
4. Responsibility borne by the person holding this position. It is usually indicated that the manager is responsible disciplinary responsibility for failure to comply with the instructions of the management, as well as civil, administrative and criminal - in cases provided for by Russian law.

Responsibilities of a financial manager

The duty section is main part any job description. The instruction for the financial manager is no exception. The exact list of duties will depend on the area in which the company operates, since the activities, for example, of a financial manager of a bank and a financial manager production company differs quite a lot. However, there are some common points:

• managing the company's finances, focused on making them profitable;
• development of plans, forecasts and budgets in various fields enterprise activities;
• control of working capital and acceleration of their turnover;
• managing the capital of the organization and taking measures aimed at increasing its price;
• analysis of the economic condition of the organization, the results achieved, audit;
• ensuring solvency and increasing the profitability of the enterprise;
• control over financial discipline and targeted use of funds;
• development of methods to regulate the financial component of the enterprise (distribution of costs, setting prices and tariffs, etc.);
• management of the company's financial assets;
• search for additional sources of financing necessary for the activities of the organization, as well as an analysis of the risks associated with them and possible losses;
• advice to management on the financing of production activities (if any);
• establishing and maintaining business relations with credit and financial organizations that finance the work of the enterprise;
• preparation together with accountants of documents on all payments of the company;
• implementation of the investment policy of the organization;
• analysis and evaluation of how effectively the company's funds are invested;
• calculation of the expected profit and loss from the operation of the enterprise;
• participation in the distribution of profits, taking into account pre-prepared plans;
• optimization of tax and other payments to the budgets of the state, municipalities, as well as to off-budget funds;
• preparation of reports for the management and founders (shareholders) of the enterprise regarding its financial condition;
• advising the company's management on current financial issues.

If necessary, this list can be expanded.

Requirements for knowledge and qualifications of a financial manager

No less important is the section of the job description devoted to describing the requirements that apply to a candidate for a position. With regard to the financial manager, when developing this section, one can rely on the provisions of the CSD, since it contains requirements that are equally suitable for both the financial director and the financial manager.

In particular, the financial manager should know:

• regulations governing the financial, economic and production activities companies;
• norms and methods used in the field of accounting and financial management;
• at least the basics of civil, financial, tax and economic law;
• specialization and organizational structure companies;
• methods used to analyze financial activities, markets, risks and planning in this area;
• the procedure for concluding contracts in the field of the company's work;
• the procedure for concluding and executing loan agreements, investment methods;
• procedure for working with securities;
• the procedure for organizing an audit;
• legislation relating to labor itself and its protection.

KSD as a qualification requirement also indicates the need for higher economic education and work experience in the financial or accounting field for at least 5 years. However, the norms of the KSD are only advisory, so the employer has the right to establish requirements independently.

How is a job description developed and applied?

The procedure for developing and applying instructions for the financial manager is as follows:

1. The head of the company issues an order to prepare the relevant document. If necessary, he appoints a commission that will prepare the instruction, or a specific person with the necessary experience to compile it.
2. A draft text is being prepared. If there are representatives of the personnel or legal service in the preparation commission, they are directly involved in the preparation, if they are not, the project is coordinated with the relevant departments of the company.
3. The drafted document is approved by the head of the company.
4. The manager gets acquainted with him under the signature.

Copy if necessary ready instructions issued to the employee.

There are a lot of financial management courses in Moscow, and their programs are very similar. True, not everyone can study there.

Maximum program

We are not talking about strict selection - none of the short-term courses provide entrance examinations. But one has only to look at the list of subjects on the websites of training centers on the Internet in order to understand: to master them without knowledge of at least elementary economic concepts will be problematic. However, this does not bother everyone.

According to teachers, there were cases when students with "zero" basic training achieved impressive results by the end of the courses. The main thing is desire and purposefulness. Of course, they had to buy the necessary literature, ask questions to the teacher, come for additional consultations. There are few such students, but they exist.

And the main contingent is people who have a fairly clear understanding of the economy and accounting. Moreover, everyone who studies in financial management courses is not devoid of ambition. The maximum program for most is to become a financial director. However, everyone understands that it is not so easy to manage financial resources effectively. Therefore, courses are only the first step on the way to the cherished goal.

In roundtable mode

Groups are formed small (8-12 people each), mostly in the evening, for daytime the demand is low. If necessary, you can practice individual program or in a weekend group. The duration of the course is from 80 to 500 academic hours.

Training is built, as a rule, in the form of lectures. However, this does not mean that for 4 hours in a row, listeners do nothing but write notes. They don't have to be bored. The teacher regularly “throws up” interesting financial problems based on concrete examples(with somewhat simplified numbers). And students offer solutions based on the experience of their enterprise. But companies work in different ways, so disputes arise, and gradually the whole group is drawn into the discussion. The teacher only needs to direct the train of thought in the right direction with the help of leading questions. As a result, most classes are held in the mode of such “round tables”.

From 100 rubles to 100 billion dollars

The purpose of the program is to discover the secrets of building successful business. First of all, students should understand the concept of "financial management". Everyone is used to thinking that a business is created for profit. In fact, this is only one of financial tasks. Much more important is another - the growth of the company's value.

Any enterprise can become an object of purchase and sale, and each has its own price: 100 rubles or $ 100 billion. Of course, the owner is interested in its constant increase. With proper management, this is exactly what happens. main role here plays, of course, the financial service of the enterprise. It may include a financial director, treasurer, Chief Accountant, the chief financial controller - that is, the people who control the movement of funds. How to properly organize such a service, students will learn at the very first lesson.

Subtle question - dividend policy. It is necessary to optimize the payments to shareholders in such a way that they are satisfied and the company has enough money left. After all, for its development, and hence the growth of value, funds are needed.

Briefly about the important

The next part of the program is management accounting. It is the science of minimizing costs, or what to do if a business becomes unprofitable. Of course, the teacher can only give recommendations for certain cases, and life will make its own adjustments. Nevertheless, theoretical knowledge helps to solve purely practical problems.

There are also political issues. The title of the topic sounds almost military: financial strategy and tactics of the enterprise. The lack of money for a professional is a serious “puncture”. Even if business partners are to blame (for example, they did not transfer funds for the received goods on time), there should be methods in his arsenal to avoid a financial disaster.

A separate topic is tax management. This is not a training on evading payments to the state treasury, but just a story about the basic principles of tax planning. However, having such knowledge, you can legitimately save a lot of money for the company.

In addition, a financial manager must be aware of such a problem of any market as mergers and acquisitions, be able to protect his company from capture. This, of course, is only about civilized methods.

Unfortunately, not a single enterprise is immune from bankruptcy or "pre-bankruptcy" state. In a crisis management class, the teacher will tell you what to do in such cases: sell assets, optimize payments, work with creditors, etc.

Of course, all these topics are not considered in such detail as, say, at the economic departments of universities, but basic knowledge listeners will receive.

Who will build the budget?

The main emphasis in teaching is on financial analysis and financial planning. Actually, the essence of the profession lies in the fact that with high precision predict possible profits and losses, offer profitable ways to allocate funds and be able to find a way out even from a crisis situation.

And for this you need to know how the company's budget is built. The teacher, for example, can offer a task game: come up with a conditional enterprise and develop for it financial plan. Most often, a small plant or factory is taken as the basis. If one of the students has at least approximate figures for such production, he provides this information to the others. Then everyone builds their own budget. Everything is taken into account: the volume of sales, the cost of purchasing raw materials and wages, transportation costs, etc. There are a lot of numbers. As a result, all of them should be summarized in the forecast balance sheet, the forecast cash flow statement, the forecast profit and loss statement. Moreover, everything is done, as in real companies - by months: in order to notice in time, if suddenly there is not enough money for something.

Students do the work at home, for about a month - in parallel with the passage of the program. And in the classroom, emerging issues are discussed, mistakes are analyzed. Such a task allows not only to practice, but also to see the gaps in your knowledge. At the end of the course, students take a test.

·Many serious courses produce educational multimedia discs that contain both theoretical information and practical tasks.

·In the process of development are now "cases" (concrete situations from the life of enterprises) for course participants. After analyzing them, students will have to offer their solutions, give recommendations. Such tasks develop the ability to think logically and outside the box.

What is the difference between being an accountant and being a financial manager?

Alexander Borisov, Lecturer of the Association of Additional vocational education:

- By and large, an accountant is just a recorder of what has already happened: goods have been shipped, money has been received, wages have been calculated.

A financier always lives in the future. For example, there is such a concept in financial management as the "gorge of death" - the moment when a company begins to feel a lack of money. If you do not plan for the future, you can end up in this "gorge".

A financier, unlike an accountant, is seriously engaged in analytics. He knows the reasons for what is happening, understands what factors led to a particular situation. And he is able to find ways that will help to avoid similar mistakes in the future.

• Training, Development, Talent Management

Who to become? Every graduate asks himself this question, because he has to choose a university and the direction in which he would like to move. The sphere of economics and finance is now of interest to an increasing number of people, and every year there are more and more specialists in this field of activity. But there are not so many really talented workers in this area, and they are highly valued. One of these areas of activity is financial management ...

He is in high demand right now. various enterprises, large firms and holdings. And if the company needs a talented person, then you will have to try hard to find this valuable person in your company. Who is a financial manager and why is he so valuable?

The financial manager is by and large the second person in the company, after its director or owner, and sometimes the first.

Firstly, because he sometimes receives as much as the director of the enterprise, and secondly, the further fate of the company depends on the decisions and actions taken by him.

A financial manager must be an excellent strategist and tactician in order to perform his functions well. And its functions are as follows:

 Monitor the profitability of the enterprise and maintain its financial stability;
 Manage cash flows of the enterprise, in particular expenses;
 Minimize financial risks, develop and implement an anti-crisis policy, if necessary;
 Ensuring the most efficient use of financial resources of the enterprise.

The financial manager manages all financial flows in the enterprise, and therefore he must ensure that by the time the enterprise has to make payments, cash were available, and during the working period all the money must be in circulation. In the event of a crisis, it is the financial manager who must decide on the company's actions, develop a behavior strategy and calculate all possible risks.

A career as a financial manager can be made by graduating with a degree in finance and auditing. Availability higher education in this area is mandatory, since the amount of knowledge that needs to be mastered is quite large, and the terminology is indispensable and specific.

Therefore, one who devotes all his time to thoroughly understanding this area, has a good memory and an analytical mindset, can become an excellent financial manager. Such personnel are worth their weight in gold, and will always be provided with work and decent pay for it.