Head Finance and Accounts Job Description Template
The Head of Finance and Accounts is responsible for managing the financial actions of a company. This includes tracking cash flow, analyzing strengths and weaknesses to propose corrective actions, preparing accurate forecasts, and ensuring all financial reporting meets compliance requirements.
Responsibilities
- Develop and implement financial strategies to support organizational goals.
- Oversee the preparation of financial reports, budgets, and forecasts.
- Ensure compliance with local, state, and federal financial regulations.
- Manage budgeting and forecasting processes.
- Monitor and manage cash flow and financial performance.
- Conduct thorough financial analysis to guide business decision-making.
- Supervise and mentor the finance and accounting team.
- Collaborate with other departments to support overall business objectives.
- Coordinate external audits and liaise with auditors.
- Develop internal controls to safeguard financial assets.
Qualifications
- Bachelor’s degree in Finance, Accounting, or a related field.
- Professional accounting qualification (e.g., CPA, CFA) preferred.
- At least 10 years of finance experience with a minimum of 5 years in a senior financial leadership role.
- Strong knowledge of financial regulations and compliance.
- Proven experience in financial forecasting and risk management.
- Excellent analytical skills and attention to detail.
Skills
- Financial analysis
- Budgeting
- Forecasting
- Compliance
- Risk management
- Leadership
- Strategic planning
- Cash flow management
- Excel
- ERP systems
Frequently Asked Questions
The Head of Finance and Accounts is responsible for overseeing all financial operations and activities within a company. This includes managing accounting practices, financial reporting, budgeting, and compliance with financial regulations. They ensure the accuracy of financial documents, provide strategic financial advice, and support the organization’s financial health. Their role often involves collaborating with executives to drive financial strategy and business planning.
To become a Head of Finance and Accounts, an individual typically needs a strong educational background in finance, accounting, or a related field, often a bachelor's degree followed by a master's degree such as an MBA. Professional certifications like CPA or ACCA are advantageous. Significant experience in financial management or accounting, often over ten years in progressive roles, coupled with leadership capabilities and strategic planning skills, is essential.
The average salary for a Head of Finance and Accounts varies considerably depending on the size of the organization, industry, and geographic location. It tends to be higher in large corporations and financial hubs. Additionally, salaries can increase with experience, qualifications, and the specific responsibilities of the role. It is considered one of the more lucrative positions in the finance sector, reflecting the level of responsibility and expertise required.
A Head of Finance and Accounts typically needs a robust set of qualifications, including a bachelor's degree in finance, accounting, economics, or a related discipline. Advanced degrees such as an MBA in Finance or a Master’s in Accounting are highly regarded. Professional certifications like Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA) can be crucial. Experience in financial leadership roles is often required to complement academic credentials.
Key skills for a Head of Finance and Accounts include strong analytical abilities, excellent communication skills, strategic thinking, and leadership. Responsibilities typically involve overseeing financial reporting, developing budgets, ensuring regulatory compliance, and guiding financial strategy to support company objectives. The role demands a thorough understanding of financial regulations, experience in financial management, and the ability to collaborate with stakeholders for business growth.