What Does A Financial Director Do?

WHAT DOES A FINANCIAL DIRECTOR DO?

Published: Mar 13, 2025 - The Financial Director is responsible for overseeing day-to-day finance and accounting activities to support business operations. Ensures compliance with tax, accounting, legal, and reporting requirements while delivering insightful financial analysis and KPI reports. Leads budgeting, forecasting, and financial management processes, ensuring strong internal controls and cash flow management for growth initiatives.

A Review of Professional Skills and Functions for Financial Director

1. Financial Director Duties

Financial Management: Oversee management of all financial outputs, ensuring strategic and reporting alignment and transparency, appropriate prioritization, robust quality, and timely delivery.
Financial Reporting: Ensure timely and accurate financial reporting, budgeting, and cashflow forecasting in respect of all projects and operations, to executive management, the Board, and shareholders.
Team Leadership: Lead and develop the finance team, ensuring suitable professional development and mentoring, to support a high-performance, ethical, results-based delivery culture.
Stakeholder Collaboration: Collaborate with technical, commercial, human resources, external relations, and operational stakeholders across the business, ensuring finance remains a fully integrated business function.
Financial Control: Develop and embed further focus on financial control and rigorous expenditure management, balanced with the agility to support an evolving, multi-programme R&D business.
ERP Management: Responsible for establishing and maintaining robust application of internal financial ERP systems, controls, and processes to support operational activities and funding requirements.
Control Enhancements: Design and deliver financial control enhancements, including accurate time recording of technical time, costing of labour into programmes, process documentation (finance processes and wider business), and delivery of documented accounting procedures.
Cost Control: Design and implement project/joint venture reporting and cost control to support internal and external collaboration structures.
Cost Management: Maintain and lead cost control, cashflow forecasting, and rigorous financial approval processes for large commitments, contracts, and tenders/bids, for private/public funding and programmes.
Statutory Reporting: Responsible for all external reporting, including statutory financial statements (and audit process), and statutory compliance returns, for all group entities.
Risk Management: Supervise and ensure effective financial risk management processes, including treasury, tax, reporting, liquidity (cashflow forecasting), and statutory reporting.
Cross-functional Projects: Design, lead, and deliver cross-functional development projects (e.g., collaboration with HR / Purchasing / Programme Management).
Fundraising Support: Support fundraising activities through recording of capital structure (including associated documentation), delivery and maintenance of share option (and other) incentive awards, in partnership with HR.
Compliance Management: Manage and ensure appropriate coverage of all business-related insurance, tax compliance, risk management, reporting, and applications for R&D tax credits.
Grant Management: Support the budgeting, financial recording, auditing, and reporting of all grant/public sector funded programmes.
Corporate Compliance: Undertake all elements of the Company Secretary role, including legal and regulatory compliance for all group entities.

2. Financial Director Details

Financial Reporting: Deliver requirements for monthly, quarterly, and annual financial reporting and analysis.
Accounting Treatment: Ensure appropriate treatment for complex accounting issues.
Process Improvement: Drive continuous improvement in reporting processes for finance risk management, compliance, and financial governance.
Internal Controls: Ensure robust internal controls framework is operating and testing results are reported on the required monthly/quarterly or annual basis.
Compliance: Ensure all SARBOX testing and reporting requirements are adhered to.
Audit Support: Support all internal and external audits and statutory reporting processes.
Relationship Management: Manage relationships with internal customers and support escalation and resolution of issues.
Change Leadership: Lead implementation of change programs.
Financial Modeling: Own and operate financial models to capture, analyze, and report actual performance compared to forecast/plan for profit and loss and balance sheets.
Data Analysis: Perform analytical reviews to identify trends and inconsistencies with previous forecasts and identifying key issues.
Budget Management: Manage the forecasting and planning for cost of goods and distribution spend.
Operational Management: Responsible for the operational excellence and finance support functions forecasting, planning, and actuals reporting.
Deadline Management: Manage communications and timelines to ensure reporting deadlines are met.
Process Automation: Responsible for driving process improvement initiatives to drive greater automation of end-to-end processes.
Collaborative Planning: Work with others to agree on requirements and timelines, and propose common approaches and effective ways of working.
Pricing Strategy: Support the annual transfer pricing process.
Ad-hoc Reporting: Manage ad hoc reporting and analysis as needed by the Finance team.
Strategic Planning: Support development of overall strategy for the site and drive strategic business plan.
Cost Management: Embed a cost-conscious culture and continuous improvement mindset within the site.
Productivity Improvement: Identify & drive productivity savings through site and commercial collaboration.

3. Financial Director Responsibilities

Operational Support: Responsible for ensuring the completion of day-to-day finance and accounting activities to support business operations.
Compliance Management: Ensure all tax, accounting, legal, and compliance requirements are met.
Financial Reporting: Deliver monthly Management Accounts and KPI reports, providing meaningful analysis and commentary on the performance of all divisions and operations of the business.
Control Implementation: Ensure appropriate systems, procedures, and strong internal controls are in place across the business.
Financial Planning: Lead the process for budgeting, forecasting, and reporting.
Supplier Management: Support the management of supplier relations to ensure compliance with agreements.
Cost Management: Develop cost control measures, cost estimates, and forecasts to support business budgets and plans.
Cash Flow Management: Manage the Cash-Flow of the Business and ensure the company is fully funded to execute its growth plans.
Market Analysis: Proactively partner with the sales team and CEO to analyze new market opportunities, evaluate commercial opportunities, and pricing strategies.
Process Optimization: Work with the CEO to develop and implement effective processes and procedures to drive efficiencies across operations.
Operational Support: Work across all functions of the business to support operational management day to day.
Stakeholder Relations: Maintain a professional image for the company in all dealings with both internal and external stakeholders.
Relationship Building: Build and maintain strong relations across the business and teams.
Financial Coordination: Manage and coordinate the budget and financial programs of the Commission and supervise fiscal staff.
Budget Development: Develop the biennium budget, and handle controlling board requests.
Financial Reporting: Prepare financial reports for the Commission, Executive Director, and federal funding agencies.
Grant Management: Direct fiscal management of AmeriCorps pass-through funding and ensure compliance with state and federal grant policies and regulations.
Procurement Oversight: Oversee the Commission’s sourcing practices.
Cash Management: Responsible for cash management and reporting.
Leadership Contribution: Contribute as a valued member of the Commission’s leadership team and participate in strategic policy development.

4. Financial Director Accountabilities

Accounting Oversight: Oversee routine accounting activities of the organization, including accounts payable, accounts receivable, payroll, and cash management.
Financial Modeling: Model short-term and long-term financial projections in conjunction with the CFO and senior management.
Budget Management: Manage annual budget in collaboration with senior department managers, the CFO, and the Executive Leadership Team.
Team Leadership: Recruit, manage, and motivate 92Y’s Finance team, including Senior Accountants, Accountants, an Accounts Payable Associate, and Payroll Manager.
Budget Reporting: Provide consistent budget updates and analysis to executive staff and CFO.
Cash Management: Lead cash management process.
Payroll Oversight: Oversee and approve processing of bi-weekly payroll.
Budget Reviews: Lead meetings with department heads and senior management to review budget/forecast on an ongoing basis, including revenue projections and expense analysis.
Financial Reporting: Prepare internal and external financial reports and statements, including monthly, quarterly, and year-end reporting.
Financial Analysis: Prepare bespoke financial analysis and work on special projects.
Audit Coordination: Coordinate and lead the annual audit process, liaise with external auditors and the audit committee of the board of directors, assess/implement any changes necessary.
Vendor Management: Manage various vendor relationships.
Committee Reporting: Prepare financial reports and materials for 92Y’s various committees including Audit, Executive, Finance, and Investment.
Business Support: Provide financial and business support to the Executive Leadership Team and programming Directors to ensure fiscal goals are met.
Policy Implementation: Update and implement all necessary business policies and accounting practices.
Solution Development: Identify, develop, and implement business solutions to improve operational efficiencies and effectiveness of 92Y’s financial planning and reporting practices.
Financial Planning: Drive and develop the financial planning of the company.
Financial Monitoring: Retain constant awareness of the company’s financial position and act to prevent problems.
System Management: Set up, implement, and oversee the company’s reporting and finance IT systems.

5. Financial Director Functions

Ethical Leadership: Model the Ottobock Code of Conduct consistently by respecting others, taking responsibility, taking a solution-oriented and integrated approach to challenges, and recognizing success stemming from personal initiative and dedication.
Method Development: Participate in corporate development of methods, techniques, and evaluation criteria for projects, programs, and people.
Budget Compliance: Ensure budgets and schedules meet corporate requirements.
Financial Safeguarding: Ensure that company assets are adequately safeguarded and that all financial reporting is prepared in compliance with all financial policies and German GAAP for recording and Tax for local tax reporting.
Financial Oversight: Oversee and analyze the monthly and annual financial reporting for the Sales and Marketing groups and Regional Support Group.
Budget Management: Responsible for the annual budgeting and quarterly forecasting process including the presentation and approval of the plan with regional and global executive leadership.
Team Management: Manage direct and indirect Healthcare Finance employees located in a total of 11 employees.
Evaluation Development: Participate in the business development of methods, techniques, and evaluation criteria for projects, programs, and people.
Financial Support: Provide financial support to the Logistics Distribution Center for Healthcare located in Louisville, KY.
Accounting Oversight: Oversee accounting interfaces for the E-commerce platform including merchant services and sales tax maintenance.
System Maintenance: Ensure that the computer system continues to operate.
System Validation: Involve in validating/designing suggested changes to ensure accounting requirements continue to be met.
Business Analysis: Advise management with data-driven analysis of business drivers such as New ACV, ARR, churn, headcount, quota attainment, capacity, and productivity.
Strategic Collaboration: Collaborate cross-functionally with Sales, BizOps, HR, and Accounting to provide strategic business direction, aligning to financial strategies.
Financial Modeling: Build complex financial models by determining key business assumptions, recommend trade-offs and opportunities.
Financial Reporting: Prepare monthly and quarterly financial reporting packages.
Forecast Support: Support forecast preparation and budget process.
Audit Coordination: Serve as an internal and external auditor focal point for country audits.
Process Improvement: Drive business process improvement and simplification.

6. Financial Director Job Description

Sustainability Achievement: Deliver the ambitions of the sustainability objective.
Reputation Management: Work closely with the Executive team to shape the business reputation as a leader in its field.
Financial Leadership: Provide professional direction for financial sustainability-related functions and in doing so ensure the prosperity of the business.
Executive Accountability: Accountable to the CEO and Board of Trustees for areas of responsibility, finance, estates, governance, and risk.
KPI Management: Ensure KPI reports are fit for purpose to drive operational performance.
Budget Oversight: Oversee the preparation and management of departmental budgets and annual/monthly accounts.
Organizational Support: Support organisational development by ensuring devolved budgets are of a standard that enable effective decision-making by the local teams.
Impact Reporting: Develop impact reporting to communicate the outcomes for clients to funders and commissioners, focusing on the outcomes and benefits that are delivered across all areas of the business activities.
Stakeholder Relations: Develop and sustain relationships with external stakeholders, aiming to develop a co-commissioned, whole system approach model across business activities.
Collaborative Development: Work collaboratively with the Business Development team, contributing to grant applications, project proposals, and bids for new and current funding with a focus on financial sustainability while exploring opportunities of different ways in which the charity can be financed.
Strategic Implementation: Develop how the business works, and implement change, prioritizing implementation of the strategic priorities of the business and to support more efficient methods of working.
Governance Development: Develop the governance systems so they continue to be fit for purpose as growth continues.
Facilities Management: Act as the lead on land and property matters, oversee facilities management, space utilization, infrastructure maintenance, and compliance.
Risk Management: Develop the strategic approach to risk management as it grows while overseeing the risk mitigation in place for risks to which the business is exposed including ensuring the business has appropriate insurances in place.
Market Awareness: Maintain current knowledge and understanding of the charity and political environment and any impact of events on the business operating environment.
Expert Advising: Act as an expert adviser in areas of responsibility.
Environmental Strategy: Identify areas where the business can reduce its environmental impact, and implement appropriate changes.
Procurement Improvement: Manage and improve procurement processes across the business to ensure value for money and effective service delivery are achieved.

7. Financial Director Overview

Leadership Supervision: Provide overall leadership and supervisory direction for the following areas: Student Accounts Receivable, Financial Aid, and Purchasing/Accounts Payable.
Strategic Leadership: Provide leadership and direction in the development, assessment, and continuous improvement of financial services functions, including planning a successful deployment of strategic planning initiatives that align with the mission and goals of the institution.
Financial Management: Assist the Vice President of Financial Affairs in managing and evaluating the overall planning and coordination of the Office of Financial Affairs to ensure compliance with sound budgeting/accounting standards and practices with applicable policies, regulations, and laws; may develop and institute fiscal policy, controls, and procedure changes.
Team Oversight: Oversee, evaluate, and provide work direction to Student Accounts Receivable personnel.
Accounting Operations: Responsible for the operation of student accounting processes including billings, finance charges, outsourced payment plans, electronic data transfers to and from third parties and other internal departments, and accuracy of the student accounting database.
Debt Coordination: Serve as primary contact to collect and coordinate submission of past due student accounts receivable to external collection agencies each semester and to the warrant intercept program with the Oklahoma Tax Commission.
Billing Management: Responsible for maintaining accurate charges, coding, and billing structure within the Student Accounts Receivable module in the Jenzabar system.
Tax Reporting: Responsible for 1098-T reporting including coding of charges and payments in the accounts receivable module, production of 1098-T forms for students, and submission for federal reporting requirements.
Data Maintenance: Responsible for updating and maintaining correct student accounts receivable information on electronic and printed communications.
Financial Counseling: Provide financial counseling for parents and students regarding payment options and payment plans with the ability to negotiate special arrangements, in conjunction with the Vice President for Financial Affairs.
Petition Handling: Serve as primary contact to receive Tuition and Fee Petition for Extenuating Circumstances.
Information Compilation: Compile all pertinent information regarding the student bursar account and obtain relevant information from other internal departments to be considered by the Vice President for Financial Affairs.
Data Collection: Assist with the collection of data and preparation of reports for the Oklahoma State Regents for Higher Education, the Northern Oklahoma College Board of Regents, and other projects or studies.
Cash Flow Management: Strict cash flow management including responsibility for covenant reporting.
KPI Establishment: Establish weekly and monthly KPIs.
Accounts Preparation: Preparation of statutory accounts.
Executive Reporting: Report directly to Group CFO and CEO including commentary and recommendations for strategic ventures.
Control Improvement: Establish and improve upon best-in-class financial controls and processes.
Stakeholder Partnership: Partner with key senior stakeholders and non-finance personnel.
Operational Efficiency: Provide advice on site efficiencies through intense data analysis.

8. Financial Director Details and Accountabilities

Financial Monitoring: Partner with functional heads and leaders to actively monitor all aspects of the business affecting financial spending and forecasts.
Budget Leadership: Lead annual budgeting and routine forecast processes, including assisting the commercial group with periodic revenue forecasts.
Forecast Coordination: Lead bi-weekly sales forecast meetings.
Board Reporting: Prepare quarterly Board of Directors forecasting package and annual budget package.
Valuation Analysis: Prepare valuation on entities, products, and business units.
Earnings Support: Support quarterly earnings call financial guidance preparation.
Investment Analysis: Support BD to evaluate investment opportunities and assist with analysis of potential acquisitions.
ROI Analysis: Support R&D to prepare ROI analysis on new product development projects/candidates.
Cash Flow Forecasting: Prepare cashflow forecasting at a consolidated and legal entity level.
Performance Improvement: Identify trends in financial performance and providing recommendations for improvement.
Organizational Support: Support the organization in maintaining a work environment focused on quality and that fosters learning, respect, open communication, collaboration, integration, and teamwork.
Acquisition Integration: Assist with onboarding acquisitions and oversee the integration of financial information.
Project Management: Liaise with the PMO office to define tasks, timetables, resources, and budgets for financial systems workstreams relating to acquisitions and new markets.
KPI Alignment: Work with FP&A to help align KPIs and metrics for new markets and acquired businesses.
Data Management: Work with the data analytics team to source, translate, configure, import, and reconcile data, for reporting of key financial and non-financial metrics.
Process Standardization: Build repeatable, consistent process for loading, consolidating, and reporting the acquisitions' financials.
Audit Support: Support the year-end financial audit and tax preparation process.
Team Leadership: Lead the finance team in achieving timely delivery of all financial outputs.
Strategic Planning: Responsible for the planning and preparation of strategic business and investment projects.
Project Development Support: Support the development and review of commercial and strategic business projects.
Performance Reporting: Deliver insightful performance reporting, robust budgeting, and financial control.

9. Financial Director Tasks

Financial Planning: Develop and lead CytomX's financial planning and budgeting process and business performance analysis and reporting, with an eye towards continuous process improvement.
Strategic Management: Lead strategic planning, budgeting, forecasting, and management reporting processes to ensure the company meets or exceeds financial goals.
Management Reporting: Provide internal management reporting, including performance evaluation, predictive analyses, and rolling forecasts for income statement, balance sheet, and cashflow.
KPI Development: Develop KPIs to support financial awareness and fiscal responsibility.
Cultural Leadership: Champion a culture of financial business partnering with functional business leaders, fiscal responsibility, and compliance with internal controls.
Cost Optimization: Optimize expense management, identify efficiencies, and develop processes and systems to support appropriate control of operational costs across functions.
Executive Advising: Advise and collaborate with the executive team on strategic, financial, and operational decisions as well as risk mitigation.
Financial Analysis: Develop financial analyses that deliver insights and recommendations to support decision-making.
Business Valuation: Support business development valuation.
Financial Strategy: Inform long-term financing needs.
Performance Management: Provide financial leadership and cross-functional collaboration to deliver short and long-term key performance targets and matrices across the portfolio of brands, channels/routes to market.
Business Planning: Conduct joint business planning with key customers and partners regularly, including financial modeling to deliver business performance targets and controls/compliance agenda.
Growth Strategy: Shape Medium to Long term sustainable growth model, strategies, and thinking for the business to deliver key company priorities over the future horizon.
Strategic Analysis: Develop, frame, and lead strategic recommendations, drive new insights, and generate new growth opportunities through Analysis (value chain, expansions, whitespaces, new launches, etc.) across the portfolio of brands and partnerships.
FP&A Leadership: Lead Financial Planning and Analysis processes and analysis, including forecasting, budgeting, and cash flow management. Identify key opportunities and risks to deliver growth targets for the business.
Financial Reporting: Prepare monthly, quarterly, and annual financial reports and forecasts.
Finance Integration: Lead the integration of Diageo Finance Transformation agenda projects and step-change Performance management cycles, standardization, and simplification of reporting.
Investment Strategy: Develop strategies to increase return on investment and profitability.
Controls Framework: Drive a strong internal controls framework for the business and with partners, through management of key control processes including compliance & risk management, whilst identifying and executing opportunities for improvements in the control framework.
Economic Analysis: Analyze studies of general economic, market trends, business, and financial conditions and impact on the organization to frame strategies and drive business delivery.

10. Financial Director Roles

Strategy Development: Partner with Senior Leadership to develop and implement the organization’s financial strategy and budget.
Financial Reporting: Oversee monthly, quarterly, and annual financial reporting for the organization’s staff and board.
Financial Management: Manage financial controls and accounting procedures.
Strategic Planning: Serve as a member of the senior staff, assisting in long-range and strategic planning initiatives; participate in decisions to align resources with institutional goals and values; lead (with Executive Director) long-term budget planning and development.
Committee Collaboration: Work with the Finance Committee, Audit Committee, and Endowment Trustees, including attending Board of Directors and Endowment Trustees meetings, making written and oral presentations regarding budget, financial operations, audit, and investments.
Tax Coordination: Coordinate and produce all tax documentation as required, including IRS 990 documentation.
Audit Oversight: Oversee annual audits and periodic reviews of benefits.
HR Partnership: Partner with Human Resources on payroll and benefits administration.
Business Representation: Represent OSF in various business matters, may officially commit OSF financially or legally in matters delegated by the Executive Director.
Audit Management: Ensure all audit obligations are met on a timely basis with the support of the Accounting Manager.
Auditor Liaison: Interview and recommend independent auditors to the Executive Director and Board of Directors.
Project Leadership: Lead special projects as assigned by the Executive Director.
System Implementation: Oversee implementation of additional/updated accounting modules and add-on reporting systems, including managing the accounting implementation of a new consolidation system and a new ERP system.
Account Mapping: Oversee and ensure alignment of mapping of chart of accounts and reporting structures to enable both internal and external reporting.
Cross-functional Collaboration: Work cross-functionally with company departments and external partners, particularly other finance teams, operations, and IT for business-critical projects such as ERP.
Process Development: Assist with the development of business processes and accounting system SOPs to maintain and strengthen internal controls.
Process Improvement: Drive the continuous improvement of processes and procedures as the company expands in both new and established markets.
Systems Development: Develop and maintain systems, policies, and procedures to ensure effective financial management while meeting compliance with the parent company.
Governance Services: Provide governance, secretarial, tax, and financial management services to the Group.
Statutory Reporting: Oversee preparation of the Group’s annual financial and statutory reporting/audits.

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