How to Hire Finance Directors in Glendale
Current Environment
For many [most] mid-large-sized organizations, the roles, and responsibilities of a director of finance differ from that of a chief financial officer (CFO), though there can be some similarities. Just like the hiring of a CFO, hiring a director of finance can seem like a daunting task and financial commitment, but having a competent and qualified individual in this role is integrally important as managing finances for companies of significant size requires a team to manage the task.
For career-oriented individuals with a passion for numbers and finance, making deliberate choices and building a strong resume can be instrumental in the process of eventually preparing an individual to meet the qualifications of a director of finance. The title may be used for a mid-level to upper management position depending on the size of the company. In smaller companies, the finance director may be included as part of the executive team.
History
The history of the field of finance and the recording and management of financial activities dates back to the dawn of civilization. While fiance has roots in scientific fields, such as statistics, economics, and mathematics, it also includes non-scientific elements that liken it to art.
As the complexity of financial instruments, transactions, stock markets, reporting requirements, and regulation has increased, the need for specialized roles in finance, including a director of finance, has grown.
Will COVID-19 Affect the Finance Field?
The COVID-19 pandemic has affected employment and the job market, however, the role of the director of finance has become increasingly important for companies as they look to recover from the economic challenges experienced in the past year. Currently, accounting and finance teams are focusing on accounts receivable and collections, accounts payable and disbursement management, cash flow projections and treasury management, financial reporting, and Sarbanes-Oxley and internal controls. These teams are often left by the director of finance.
As a result of the focus on COVID requirements for reporting and more, employers are increasingly seeking professionals to support day-to-day accounting needs, compliance and reporting requirements, and demands related to lending programs.
How will Hiring finance directors Help Your Company?
The director of finance is often viewed as the member of the leadership team who is responsible for creating a solid foundation upon which a business is successfully set up and equipped to grow.
The director of finance contributes to the attainment of the company’s business objectives by providing strategic and financial guidance to ensure that the company’s financial commitments are met and develops all necessary policies and procedures to ensure the sound financial management and control of the company’s business.
director of finance Details
Responsibilities
The director of finance needs to be a good financial analyst and a strong communicator. It helps if they have extensive senior-level accountancy experience, along with significant managerial experience, industry knowledge, and thinks strategically.
Before we get to exactly how to recruit the best director of finance in Glendale here are more details about the typical responsibilities of the job.
- Direct and control finance staff.
- Contribute to the achievement of the company’s business objectives by providing advice and guidance on financial strategy.
- Develop and control the company’s annual operating budget and financial targets.
- Ensure financial and statutory regulations are complied with.
- Provide financial advice and guidance to the company’s managers and staff to enable them to achieve their objectives.
- Oversee the preparation of the company’s financial accounts to ensure that these are presented accurately and on time.
- Develop and implement an internal audit program to ensure that the company complies with financial procedures and regulations.
- Develop and maintain all necessary systems, policies, and procedures to ensure effective and efficient financial management within the company.
- Monitor external contracts and services provided by suppliers to ensure that these are operating effectively and adding value.
- Carry out all necessary actions to ensure that the company meets its financial and legal obligations.
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Education
Most positions require a Bachelor’s degree, while many directors of finance positions require a CPA, CFA, and/or an MBA and significant experience in the financial industry (5+ years) may be able to use their years of experience to replace the degree. While candidates can complete a degree in Business Administration, Public Administration, Finance, or Accounting, a wide variety of degrees may qualify someone for the role, depending on their previous experience.
Top Schools – US News & World Report rankings.
Top Schools
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University of Texas at Austin
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BYU-Provo
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University of Illinois at Urbana-Champaign