What does a Finance Manager do?
DescriptionThe Finance Manager supervises and handles the flow of money and the assets that enter and leave a company. In this regard, these professionals must be familiar with the laws and regulations applicable to the field of finance. Similarly, they review and prepare reports on earnings and on employee performance.
The responsibilities of a Finance Manager vary from one company to another, so these professionals must be open to adapting to the demands of their workplace. For example, in the case of a chain of restaurants, this professional monitors the stock of inputs, the wage cost per employee and the income obtained; They also carry out the planning and execution of special promotions.
Principal functions
Below, the most common functions of a Finance Manager:
- Perform management tasks, manage financial information, document and report, analyze trends and evaluate the performance of the company.
- Supervise the operations and development of the company's finance departments:
- Review and develop policies to regulate the financial options of the company.
- Direct the collection and analysis of financial information.
- Estimate costs and profits to foresee the achievement of the established objectives.
- Use mathematical and statistical models to forecast economic and financial trends.
- Periodically evaluate the financial procedures and give the corresponding recommendations or suggest possible improvements.
- Devise methods to maximize the profits of the company.
- Work together with HR in the recruitment and training of new incomes.
- Work together with the Lawyers during purchases of or mergers with other corporations or companies.
- Assist in the administration of the assets and in the estimation of possible profits.
- Monitor trends that affect the financial status of the company and plan new strategies.
- Serve as a mediator between the company, its shareholders and investors, seeking the benefit of all parties involved.
- Review the documentation regarding financial forecasts and the state of the company:
- Prepare documents and legal reports to be sent to the corresponding financial operations regulatory entity.
- Analyze and articulate the commercial trends to be presented to the shareholders.
