Roles and responsibilities of the Finance Director
The Finance Director is a key member of an organisation's management team, with a wide range of essential roles and responsibilities. They are responsible for all financial, strategic and operational aspects of the organisation. Here is a list of the main roles and missions of a Finance Director:
- Overseeing the entire financial system of the organisation and therefore being responsible for the preparation and presentation of financial reports.
- Monitor and analyse financial performance and relate it to the organisation's overall objective.
- Developing sound financial practices and a system of internal control.
- Developing short and long term forecasts and budgets.
- Work closely with other members of the management team to ensure the development and adoption of an effective strategy.
- Manage banking and supplier relationships and manage customer accounts, invoice payments and overdue invoices.
- Carrying out studies and research to identify appropriate sources of funding.
- identifying and implementing strategies to improve efficiency and productivity.
- Ensuring compliance with tax and other regulations.
- Ensuring a high level of quality and transparency in financial reporting.
- Participating in business negotiations and strategic decision-making.
- Maintaining relations with shareholders, investors and regulatory authorities.
These are some of the main roles and missions of a Finance Director. Finance Directors demonstrate a high level of competence and ability to make decisions.
Salary and career development of a Finance Director
A CFO is responsible for the financial health of the company or organisation. They are responsible for fiscal strategy, budgeting, financial reporting and other tasks related to financial administration. They are responsible for advising the company's management on best practice in financial management and ensuring that all transactions are conducted safely and appropriately. Finance Directors are generally well paid and have a range of career development opportunities. Here is an overview of gross annual salary progression in France by years of experience for a Finance Director:
- 0 to 2 years: between EUR 42,000 and EUR 65,000
- 2 to 5 years: between EUR 65,000 and EUR 75,000
- 5 to 10 years: between EUR 75,000 and EUR 85,000
- 10 to 15 years: between EUR 85,000 and EUR 95,000
- More than 15 years: more than EUR 95,000
A Finance Director may consider promotion to a more senior position, or a career change to another finance-related profession. Here are 5 possible career paths for a Finance Director: - Financial Controller
- Financial Operations Manager
- Financial analyst
- Fund manager
- Wealth management consultant.
