Finance Director

A Finance Director is an organizational director tasked to perform organizational financial management tasks.

• AKA: Director of Finance, Finance Officer.
• Context:
  • They can (typically) be an Subject Matter Expert in Financial Management.
  • They can be a manager of a Financial Management Team (which may include organizational accountants).
  • They can range from being a For-Profit Finance Director to being a Not-for-Profit Finance Director (such as a local-government finance director).
• Example(s):
  • a Government Finance Director (such as a municipal finance director).
  • …
• Counter-Example(s):
  • a City Manager.
  • a Clerk Treasurer.
  • a Non-Finance Expert.
• See: City Manager, Financial Analyst.

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References

2016

• (Wikipedia, 2016) ⇒ https://en.wikipedia.org/wiki/Chief_financial_officer Retrieved:2016-9-1.
  • The chief financial officer (CFO) or chief financial and operating officer (CFOO) is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management. In some sectors the CFO is also responsible for analysis of data. The title is equivalent to finance director (FD), a common title in the United Kingdom. The CFO typically reports to the chief executive officer and to the board of directors, and may additionally sit on the board.

    The CFO supervises the finance unit and is the chief financial spokesperson for the organization. The CFO reports directly to the president/chief executive officer (CEO) and directly assists the chief operating officer (COO) on all strategic and tactical matters as they relate to budget management, cost–benefit analysis, forecasting needs and the securing of new funding.

• Maxwell Murphy. (2016). “Cities, States Need Top Financial Talent, but Fall Short on Pay.” In: WSJ, Oct. 17, 2016
  • QUOTE: Municipal finance chiefs in the Midwest earn between $85,000 and $160,000 … recruiter for the public sector and nonprofit groups. By contrast, the median compensation package — salary, bonus and stock options — for public-company finance executives was valued at $3.57 million …

2015

• http://www.payscale.com/research/US/Job=Finance_Director/Salary
  • QUOTE: A Finance Director earns an average salary of $103,071 per year. Skills that are associated with high pay for this job are Strategic Planning, Financial Modeling, Forecasting, Senior Financial Management, and Financial Analysis. …
    … Finance directors hold a leadership position, so general management duties such as scheduling, hiring, and carrying out performance evaluations may be necessary. These directors generally lead a finance team in creating strategic plans regarding the company's finances; this includes both accounting duties and financial analyses and projections. The team which the finance director leads should identify risks and areas in need of improvement so the company can identify mistakes before they come to realization and further increase profits.

• http://www.bridgespan.org/publications-and-tools/hiring-nonprofit-leaders/nonprofit-job-descriptions/chief-financial-officer-job-descriptions/director-of-finance-and-administration-job-descrip.aspx#.Vpe86lK5_cg
  • QUOTE: Financial Management.
    • Analyze and present financial reports in an accurate and timely manner; clearly communicate monthly and annual financial statements; collate financial reporting materials for all donor segments, and oversee all financial, project/program and grants accounting.
    • Coordinate and lead the annual audit process, liaise with external auditors and the finance committee of the board of directors; assess any changes necessary.
    • Oversee and lead annual budgeting and planning process in conjunction with the ED; administer and review all financial plans and budgets; monitor progress and changes and keep senior leadership team abreast of the organization’s financial status.
    • Manage organizational cash flow and forecasting.
    • Implement a robust contracts management and financial management/reporting system; ensure that the contract billing and collection schedule is adhered to and that financial data and cash flow are steady and support operational requirements.
    • Update and implement all necessary business policies and accounting practices; improve the finance department’s overall policy and procedure manual.
    • Effectively communicate and present the critical financial matters to the board of directors.

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