Top 10 duties of Senior finance executive job description

Finance team is one of the most important departments in all the companies because of its huge importance. The finance department includes many sub-department and job positions, each one does a specific role in the company. Between these job positions, we found the Senior finance executive job description in this position, there are many job tasks, responsibilities and duties. 

To know more about the senior finance executive, continue reading this article, as you will find an answer for all your questions.

Table of contents

Senior finance executive job description

The senior finance executive in each company plays an important role in organizing all the financial transactions to make the balance between the revenue and the debits. You will work generally in maintaining the financial situation of the company in a safe place avoiding any crisis. From here appears the importance of the senior finance executive. 

What are the main duties and responsibilities of a finance executive?

And now to know more about this job description, you have to explore more in the job responsibilities, duties and roles to find out your capabilities to join this job position or not. So, let’s list all these responsibilities now:

1. Manage the daily financial and accounting transactions like cash management, payroll, receivables, payables, banking, record transactions and inventory.
2. Implement financial systems to monitor all the cash flow management, financial reporting, grant management and compliance, budgeting, internal control, financial record-keeping and accounting information consolidation.
3. Offer the suitable training and support for the finance team members.
4. Maintain a strong relationship with the different banks. 
5. Monitor the cash flow requirements. 
6. Collect all the achievements, and the problems in a monthly report to be offered to the supervisor.   
7. Make the financial reports.
8. Be a part of the annual fiscal budget.
9. Work in gathering data and offer the needed support for the tax audit.
10. Do a monthly reconciliation for the accounts including credit cards and banks. 

Read also: Traffic agent in roads and airport  job description

Senior finance executive skills 

Also, the senior finance executive should have some skills to be able to do his work duties easily. Between these skills are:

1. Computer skills: nowadays, the computer usage in the finance team has become a priority, you can’t do any task without a computer, so learning the computer usage will help you.
2. Microsoft knowledge: The Microsoft Office is the important tool of each member in the finance team especially the Excel program because of the equations available on this program, so, try to learn this important program to finish your work faster.
3. Have a mathematical mind: The mathematical mind is a great skill that will help the senior finance executive in his work to be able to do the different equations in his mind.
4. Knowledge about ERP: using the different ERP systems is one of the important tools in your daily work, so you know how to use the different ERP system and its importance.
5. Bachelor Degree: receiving a bachelor degree in finance or accounting field is a must to be able to join this career path.

Read also: deputy operations manager job description

Person Specification

1. Communication skills: you have to get in contact with the finance team member, to be able to communicate with them you must have an excellent communication skill.
2. Team player: the finance department is a big department including multiple teams, to have a great impact in this team, you should have the team player spirit to finalize the work with the desired quality in cooperation with your team.
3. Details oriented: the senior finance executive works with numbers, a simple error could cause a huge problem. So, you should focus on the simple details to be able to detect any error.
4. Problem solver: for sure, during your day, you will face many problems, and your role here is to solve these problems by finding the right solutions without affecting the company. 
5. Negotiation skills: you should have the negotiation skills as you are going to run a conversation with your team, your managers and even if the banks, suppliers. So, you should negotiate with them in case you have a different point of view.
6. Leadership: you will be in charge of a team, and you have to manage them in order to deliver the work with high quality on time.

Senior finance executive salary

The average salary of the senior finance executive is about $124,742 per year. But, you should take into consideration your experience level, your education and the company size, these 3 factors make a big impact on the salary range.

Read also: derrickman job description

Top Courses to become a senior finance executive

Finance is a huge field that has continuous updates due to the technology integration in this domain. For this reason, we found that learning in finance is unstoppable. Some certificates are essential in your career path.

1. Certified Management Accountant “CMA”
2. Certified Public Accountant “CPA”
3. Chartered Financial Analyst “CFA”

These certificates will help you to build your career path in the right manner, so try to receive them to make you the ultimate candidate for each company.

Read also: desktop publishing specialist job description

What are the other job titles similar to the senior finance executive?

The naming of the job titles differs from company to other, and from culture to other, but the role of the job is almost the same. The other job titles related to the senior finance executive are:

1. Financial Manager
2. Financial Analyst
3. Controller
4. Financial Consultant.

Is experience being a must to become a senior finance executive?

Yes, an experience of more than 1 year as a finance executive is an important factor to occupy the position of the senior finance executive.

Read also: Senior functional consultant job description

What is the education level needed to be a senior finance executive?

A bachelor degree in finance or accounting field is a must to be able to work as a senior finance executive. Also, the additional courses that we mentioned seconds ago, will be a plus. 

In conclusion, we just now discover the senior finance executive job description starting from the duties, responsibilities and tasks, till knowing the top courses and the needed skills personal and professional. Now, it is your role, if you find that this job position fits with your qualifications, and you find your passion goes through, begin your career now!