What a Finance Director could add to your business

Let’s think about what you are looking for an FD to do? Some of the services we typically get asked for include the following list, in more than a dozen different categories:

Overall management of the finance function:

• Oversee, implement and control all aspects of financial management and reporting in the business
• Manage the accounting and financial operations and staff

Management Accounting

• Production of monthly management accounts on a timely basis
• Budgeting and forecasting
• Bookkeeping, payroll and VAT

Analysis, Insight, Advice and Reporting

• Provide commentary, insight, KPI analysis and advice to the Directors

Controlling the Business and Cashflow

• Managing cash and working capital
• Controlling a business which is running away with itself

Profit Improvement

• Develop and implement Profit Improvement Plans

Strategy

• Develop strategy and business plans
• Help to get the business to the next level
• Help turn around a distressed business<

Sourcing Finance

• Loans, equity and grants

Systems

• Improve financial systems

Risk Management

• Manage risk in the business and safeguard the assets of the company from fraud and other Loss Insurance

IT & HR

• Manage the IT and business continuity risk
• Manage HR and compliance with Employment and Health and Safety law

Company Law and Contracts

• Legal compliance and contracts
• Manage all the compliance functions including VAT, payroll, year-end statutory reporting, tax returns, audit and company secretarial

External Relations

• Manage external relationships with banks, investors, HMRC and other suppliers or regulatory bodies

Corporate Transactions

• Manage corporate transactions such as mergers, acquisitions and disposals

Further Information / Job Description

If you would like help thinking through precisely what you want an FD to do and help with developing a detailed Finance Director Job Description and Competency Profile as a basis for an interview process do let us know, we’d be happy to help.

Author: Shaun, Finance Director and Founder of Business Growth Services.