Finance Director Career Description
A finance director is a key professional of the finance department of an organization. He looks after all the finance decisions of the firm like capital budgeting, financing the capital, investment options, capital allocation, risk management, etc. They also are responsible to exercise control in management processes by minimizing the costs of the company and improving its revenues. Candidates who want to become finance directors should have qualification as a master of business administration in Finance and should have worked for at least 8-10 years in the industry in any finance role. The job entails looking after accounting, audit, budgeting departments of the organization and needs a very holistic methodology to carry out his or her responsibilities.
Finance Director Job Career Description
- A Finance director is responsible to lead the decision making related to any finance function in the organization.
- A finance director decides the sources of capital in the form of debt and equity combined with retained earnings. Then he allocates the capital among various departments of the firm.
- A finance director also looks after various control measures that can be taken to reduce the cost of capital and undertake cost control measures in the company wherever possible.
- They also need to prepare yearly financial statements and audit them. They need to file documents for tax compliance as per regulatory norms.
Finance Director Career Salary
Candidates who are aiming to become finance directors should complete their education in finance while undertaking master of business administration in their post graduation. They should also possess at least 10 years of relevant experience in the field. Popular industries that are in the lookout for good finance directors consists of health care, financial services, non profit organizations, manufacturing and distribution companies, etc. The annual salary of a finance director as per the projections by the National Salary data released by Pay Scale is in the range of $50,000 to $176,000 while the median salary is about $110,000.