WHAT DOES A FINANCE OPERATIONS MANAGER DO?
Published: Mar 19, 2025 - The Finance Operations Manager manages accounts payable and receivable, ensuring timely payments. Oversees day-to-day accounting activities, cash flow reporting, and integration between Brex and QuickBooks. Coordinates payroll processing, prepares financial reports, and manages vendor payments and loan terms.
A Review of Professional Skills and Functions for Finance Operations Manager
1. Finance Operations Manager Duties
- Data Management: Support the Finance Operations Head, MPF to manage the accounting and ledger functions for the MPF Operations Business
- Quality Control: Drive delivery and quality of financial reports by acting as a gatekeeper on financial information within the financial systems to ensure underlying data are used for financial, management, and regulatory reporting for the MPF Operations Business
- Financial Control: Exercise control over the general ledger of the MPF Operations Business including finance reference data maintenance, sub-ledger and general ledger, and accounting schematics
- Financial Oversight: Support the oversight of financial closure for the MPF Operations Business as well as general ledgers account reconciliation and substantiation in accordance with HSBC’s Guidelines and local regulations
- Variance Analysis: Provide first-line commentary and analysis of variances and drivers on financial reports and other relevant reporting to internal and external auditors, trustee due diligence, etc.
- Report Analysis: Contribute to the preparation and analytical review of the financial reports and other relevant reporting schedules to support Management Information, business analysis, group, regulatory and statutory reporting
- Deadline Management: Ensure that all reporting for the team meets set deadlines
- Process Improvement: Implement changes in financial processes and compiling reports, driving efficiencies in areas of responsibility
2. Finance Operations Manager Details
- Financial Accountability: End-to-end accountability for the VGE Direct, VONE, and NMR Financial statements
- Timely Delivery: Responsible for delivery of month-end close in the agreed timetable
- Adjustment Calculation: Responsible for calculating and posting S15 adjustments related to VGED Direct, VONE, and NMR products
- Accrual Posting: Responsible for calculating and posting accrual adjustments.
- Collaboration: Agreeing overlays with Commercial Finance teams where relevant
- Revenue Reconciliation: Reconciling hardware billing and ensuring accurate revenue reporting.
- Query Resolution: Ensure queries around product reporting are addressed
- Compliance: Ensuring bad debt is calculated and posted in accordance with IFRS9
- Result Analysis: Perform analysis of results to ensure completeness/accuracy, explaining key MoM drivers
- Communication: Communicate detailed analysis of the results to the business (Finance Decision Support and Commercial Management)
3. Finance Operations Manager Responsibilities
- Financial Reporting: Prepare and present all financial reporting under IFRS and GAAP.
- Financial Advisory: Act as a key advisor in all company financial and supply matters to support ongoing business expansion to include: Strategic planning, cost control, project review, and identifying business and financial risks on an ad hoc basis.
- Capital Management: Manage the company's Working Capital, including payables and receivables.
- Audit Oversight: Oversee audits and tax-related topics together with third-party financial services providers.
- Internal Controls Management: Manage internal controls (developing and implementing policies to maintain the correct internal control environment).
- Cash Flow Management: Ensure a healthy cash flow by influencing related departments and external networks (Suppliers, Banks).
- Demand Forecasting: Forecast future demand at line level by close collaboration with business.
- Inventory Management: Manage the inventory to ensure accuracy and a healthy stock level.
- Supply Chain Management: Manage goods supply and oversee stock movements through contact with suppliers and third-party logistics provider.
- Strategic Support: Support senior management and the leadership teams in association with the improvement of ongoing strategic and commercial project work and increased profitability.
4. Finance Operations Manager Accountabilities
- Payment Management: Manage accounts payable and receivable, ensuring payments are made and received in a timely manner.
- Account Coordination: Manage day-to-day accounting activities and the Chart of Accounts, coordinating with the company’s accounting agency of record.
- Cash Flow Monitoring: Monitor and report on cash flow and burn rate.
- Expense Oversight: Review and approve expense reports in Brex and audit recurring charges.
- System Integration: Manage integration between Brex and QuickBooks Online.
- Financial Reconciliation: Close books and reconcile cash and credit card accounts monthly.
- Documentation Management: Create and maintain order processing documentation and generate software certificates.
- Payroll Coordination: Coordinate closely with People Operations to manage payroll processing and reporting.
- International Payments Management: Track and manage payments to employees working outside of the United States.
- Compliance Reporting: Report and send 1099s to contractors and vendors.
- Financial Reporting: Prepare quarterly financial binder for the leadership team and the company’s Board of Directors.
- Lease Management: Manage lease and loan terms and payments.
- Data Maintenance: Perform routine data hygiene in QuickBooks and HubSpot.
5. Finance Operations Manager Functions
- Business Planning: Implement and control business & financial planning, manage and oversee operational risk, prepare management information & reporting of all business operations for senior management, coordinate and champion local or regional project implementation.
- Regulatory Liaison: Serve as a company representative on regulatory issues.
- Operational Enhancement: Enhance the operational procedure and system.
- Governance Oversight: Carry out supervisory and governance responsibilities in accordance with the company’s policies and applicable laws.
- Financial Analysis: Review and interpret financial and operating information, coordinate and develop periodic financial statements and/or analyses, and prepare financial/business reports for senior management.
- Budget Coordination: Work closely with both local and regional finance teams in preparing forecasts and annual budgets, analyze variances, and propose corrective actions.
- Infrastructure Planning: Collaborate with senior management to develop and implement plans for the operational infrastructure, systems, and processes.
- Risk Management: Support the business to identify its key risks and ensure that relevant controls are in place to mitigate these risks.
- Control Improvement: Ensure that control deficiencies/areas for improvement are addressed in a timely manner.
- Stakeholder Management: Manage dynamic relationships with key internal stakeholders and outside vendors, including but not limited to outsourced accounting firms, auditors, legal counsel, real estate agents, and SSC.