What does a Vice President of Finance do?
The Vice President of Finance is a senior role who oversees the day-to-day financial management of the organization. Key responsibilities include managing risk and investment strategies, alongside tracking the overall financial health of the company.
As Vice President of Finance, they ensure that the company’s finances are managed suitably and effectively. This role’s responsibilities include leading the team towards achieving the company’s financial mission, monitoring the financial performance, preparing and presenting financial reports, and conducting audits on financial expenditures, assets, and liabilities.
Vice President of Finance Responsibilities
- Manage day-to-day operation of cash function, as part of treasury department responsibilities, as well as leading general accounting responsibilities.
- Key functions include cash management, treasury operations, corporate finance, financial/commodity hedging, credit, and international regulatory compliance.
- Lead implementation of new worldwide consolidation systems, significantly reducing closing time and improving controls over the consolidation process.
- Implement new policies and procedures for the department.
- Design communication of departmental policies, payment plans, and collection criteria for clients.
- Develop necessary reports for eligible clients and define the process to appropriately bill for these services.
- Implement an electronic timekeeping system, as well as execute electronic reporting of labor and semi-monthly payroll processing.
- Develop comprehensive business model to evaluate strategic investment plans.
- Full finance responsibility for the business unit including financial statement management, planning and analysis, credit oversight and investment evaluations.
- Prepare consolidated financial statements in accordance with GAAP; oversee local and federal regulatory interpretation, reporting, tax planning, and tax compliance.
Vice President of Finance Qualifications
- Bachelor’s degree in Finance, Accounting, Economics, or a related field. CPA or CMA preferred.
- Proven finance leadership in the accounting industry. Public Accounting experience is a plus.
- Strong financial planning and analysis skills.
- Excellent communication and interpersonal skills.
- Strategic thinking and decision-making prowess.
- Comprehensive understanding of financial regulations and standards.
- Adaptable to evolving business environments.
- Knowledge of compliance requirements for Securities and Exchange Commission (SEC) reporting.
- Outstanding leadership skills.
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