The Roles Of Finance Executives

27th October 2021

The UK banking and finance industry has undergone a degree of change and reorganisation, and qualified, experienced professionals remain in high demand. As a highly regulated business sector, many jobs require individuals with particular skills to complete their duties and remain compliant. Attracting applicants and recruiting the right individuals relies on accurate job descriptions and denoting roles, skills, and certifications.

Here we look at the finance roles and responsibilities of each position, which will form part of your job advert and hiring strategy.

Roles of a Financial Analyst

A Financial Analyst interprets financial data and creates forecasting reports. They conduct research and create corporate finance models.

Financial Analyst roles and responsibilities:

Analysing financial data and identifying risks and trends
Evaluating inventory, asset depreciation, and expenditure
Researching economic conditions and making trend-based recommendations
Preparing projection and accounting reports
Creating financial models
Liaising with risk analysts and members of the financial and management team

View a complete Financial Analyst Job Description here.

Roles of a Financial Controller

A Financial Controller’s focus is improving the financial performance of their company or group. Degree-qualified, these professionals direct accounting operations and produce financial statements.

Financial Controller roles and responsibilities:

Analysing financial data and creating income and expenditure statements
Monitoring internal controls and policy adherence
Streamlining the operations and accounting procedures
Coordinating audits and managing risk
Formulating financial strategies and implementing plans
Managing financial transactions

View a complete Financial Controller Job Description here.

Roles of a Finance Assistant

The duties of Finance Assistants include financial record keeping and payment processing. These detail orientated individuals help their organisations control costs and investigate discrepancies.

Finance Assistant roles and responsibilities:

Producing invoices and processing payments
Maintaining databases and generating reports
Overseeing client’s accounts
Investigating financial and payment discrepancies
Recommending improvements to reduce costs and improve efficiency
Using accounting software to maintain accurate records

View a complete Finance Assistant Job Description here.

Roles of a Finance Director

Financial Directors hold a senior company position and typically have financial management or accounting qualifications. They improve financial performance and report to investors and stakeholders.

Finance Director roles and responsibilities:

Overseeing tax and audit functions
Directing accounting staff and managing internal controls
Preparing financial plans and strategies
Preparing detailed budgets and making profit and loss forecasts
Assessing and minimising risk
Ensuring legal compliance
Monitoring cash flow
Arranging annual business insurance

View a complete Finance Director Job Description here.

Roles of a Finance Manager

The duties of a Finance Manager encompass planning and organising financial projects and tasks. Typically having an accounting or finance degree, they help companies achieve growth and profitability.

Finance Manager roles and responsibilities:

Estimating the funds required to undertake tasks and complete projects
Developing budgets and minising debt costs
Procuring financing through financial institutions
Calculating investment risks and opportunities
Supervising month-end processes and reporting
Tracking KPI metrics

View a complete Finance Manager Job Description here.

Roles of a Credit Controller

Credit Controllers manage their organisation’s creditors and debtors. They process invoices and payments and maintain the sales ledger.

Credit Controller roles and responsibilities:

Evaluating new and existing customers’ credit risks
Performing credit checks and setting account limits
Chasing payments and arranging payment plans
Preparing reports and statements for the company accountant
Responding to client enquiries
Managing the company’s sale ledger

View a complete Credit Controller Job Description here.

Roles of a Chief Financial Officer (CFO)

The Chief Financial Officer analyses a company’s strengths and weaknesses and creates appropriate plans for financial actions and activities.

Chief Financial Officer (CFO) roles and responsibilities:

Tracking cash flow and ensuring the availability of working capital
Maintaining investor relations
Supervising lower-level finance managers
Overseeing the company’s financial IT systems
Producing reports and forecasts
Working in close cooperation with the CEO, COO, and CMO

View a complete Chief Financial Officer (CFO) Job Description here.

Roles of Accounts Payable

Accounts Payable Executives communicate with clients and ensure invoice payments are collected on time. The individual’s goal is to monitor and reduce outstanding debt.

Accounts Payable roles and responsibilities:

Collecting payments and updating the accounts payable database
Coordinating actions with the accounts receivable team
Preparing bills, invoices, and bank remittances
Sending payment reminders and calling clients
Responding to client’s questions and discrepancies
Preparing financial statements and reports

View a complete Accounts Payable Job Description here.

Roles of a Finance Officer

Finance Officers manage the company’s financial procedures and policies. They prepare budgets, conduct audits, and monitor transactions.

Finance Officer roles and responsibilities:

Creating invoices and balance sheets
Implementing financial policies to boost operational efficiency
Planning budgets and expenditure limits
Monitoring payment transactions and bank deposits
Detecting and resolving errors
Preparing and conducting audits
Maintaining records and receipts in line with regulations

View a complete Finance Officer Job Description here.

Roles of a Financial Advisor

Financial Advisors help customers with financial planning and resilience. They sell financial products and work with private, self-employed, and business clients.