Samples of Corporate Finance Roles And Responsibilities
Presented below is an overview of a typical Corporate Finance function:
• Senior VP and CFO
• Vice President and Corporate Controller
• Director of Accounting Controls and Systems
• Director of Internal Audit
• Tax Manager
• Accounting Systems Manager
• Senior Business Analyst
• Cash and Credit Manager
• Senior Accountant
• International Accountant
Job Descriptions:
Below are very brief descriptions of the minimum activities performed in each financial position..
Senior VP and CFO
• Responsible for all treasury, accounting, legal, investor relations, human resources, information technology and administration functions.
• Should be a member of the Executive Management Team (EMT) and reports to the Chief Executive Officer (CEO).
Responsibilities include:
• Strategic financial planning, budgeting, accounting practices and financial risk assessment;
• Directs the preparation of annual operating and capital budgets and cash flow projections;
• Manages all Corporate financial functions including general accounting, internal reporting and controls, planning, budgeting, forecasting and variance analysis;
• Monitors and analyzes the organization’s financial condition and performance and works closely with the CEO as well as with other key executive staff members to ensure continuous financial improvement;
• Ensures compliance with Corporate governmental regulations for all financial tax and treasury activities, prepares and presents financial reports to the Board of Directors and reviews and implements financial information systems;
• Analyzes new business opportunities and major projects by assessing financial risk/return and
• coordinates the annual audit of the Company’s financial statements by an outside audit firm.
Vice President and Corporate Controller (VP and Corporate Controller)
Report to the Senior VP and CFO and oversees the staff in the day-to-day operations of the Corporate accounting department,
Responsibility is to ensure that all financial activities are:
• in line with Company goals and objectives;
• in conformity with U.S.GAAP; and
• in compliance with governing body regulations and debt compliance requirements to which the Company is subject to.
• responsible for the preparation of the Company’s consolidated financial statements and the filing of periodic reports with the SEC and other regulatory agencies.
• assists the Senior VP and CFO in designing, developing, implementing and recommending policies and procedures for the financial function.
Director of Accounting Controls and Systems
Report to the Senior VP and CFO.
Responsible for
• The development, documentation, implementation and maintenance of the internal control environment of the Company to ensure compliance with the Sarbanes-Oxley Act of 2002.
• Design of control procedures and testing/evaluation of key business processes as to their effectiveness.
• Assists operational groups, where requested, in developing and implementing improvements in systems, procedures and/or controls to improve efficiencies and to safeguard the Company’s assets.
• Coordinates and cooperates with the Company’s internal and external auditors and interfaces with project leaders across the Company.
Director of Internal Audit
Report to the Audit Committee of the Board of Directors with a dotted line to the Senior VP and CFO.
Responsible for:
• The administration of internal audit activities.
• To develop an annual audit plan, execute the annual audit plan, evaluate and assess significant merging/consolidating functions and new or changing services, processes, operations and control processes coincident with their development, implementation and/or expansion.
• Issuing periodic reports to the Audit Committee and management summarizing results of audit activities and keeping the Audit Committee informed of emerging trends and successful practices in internal auditing.
• Assists in the investigation of significant suspected fraudulent activities, if any, within the Company and notifies management and the Audit Committee of the results.
Tax Manager
Report to the Senior VP and CFO.
Responsible for:
• Coordinating various Company tax matters, including the preparation and filing of international and federal and state income tax returns,
• Preparation of the Company’s estimated tax provisions reported in the Company’s financial statements, estimated tax payments to applicable tax authorities, tax research and tax authority audits of the Company.
• Company’s tax planning initiatives and ensures compliance with all tax and related regulations and requirements.
Accounting Systems Manager
Report to the VP and Corporate Controller
Responsible for:
• The design, development and maintenance of the Company’s primary financial system .
• Serves as the liaison to Information Technology (IT) to add, modify, upgrade or otherwise change software features and functions, including the development and maintenance of reports.
• Responsible for end-user assistance and support, including developing and delivering end-user training and ongoing end-user application support.
Senior Business Analyst
Report to the Senior VP and CFO.
Responsible for:
• The design and documentation of the business processes and functional requirements for the Company’s primary cost accounting system which includes invoicing, estimating job costing and profitability analysis.
• Developing detailed functional requirements and completing process flows for identified applications. This position interfaces with all business groups in the Company.
Cash and Credit Manager
Report to the VP and Corporate Controller.
Responsible for:
• Both cash management and credit management.
• With respect to cash management, the Cash and Credit Manager is responsible for maintaining and tracking bank account balances, cash transfers, debt payments, investing cash, managing wire transfers, maintaining accurate Company credit information on the Company’s operations and other Treasury related functions as assigned by the Senior VP and CFO.
• With respect to credit management, the Cash and Credit Manager is responsible for administering the Company’s client credit policies, client collections, credit approvals for new clients and client data maintenance in applicable systems.
Senior Accountant
Report to the VP and Corporate Controller
Responsible for:
• Providing accounting support to the VP and Corporate Controller, preparation of journal entries, various Corporate account reconciliations and analysis as well as select financial statement preparation.
• Managing and maintaining the Company’s Asset Management system, supervising the Corporate accounts payable processes and serving as a backup for Corporate accounts payable and payroll personnel.
International Accountant
Report to the VP and Corporate Controller
Responsible for:
• Providing support for the accounting functions performed by personnel located in the Company’s overseas operations.
• Interfaces with employees in various overseas countries.
• Responsible for various Corporate accounting duties, including preparation of the annual budget, financial statement consolidation of the overseas operations, business planning, taxation and assisting with financial reporting.
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October 20, 2009
Tags: FINANCE ROLE
Posted in: Finance Role/KPA/KPI
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