Finance Recruitment

What Are Finance Jobs?

A Finance Director or Financial Controller is a manager who is responsible for providing financial advice and support to clients and colleagues to enable them to make sound business decisions. Specific settings vary enormously and include both public and private sector organisations, such as multinational corporations, retailers, financial institutions, NHS trusts, charities, manufacturing and engineering companies and universities. 

Financial considerations are at the root of all major business decisions. Clear budgetary control is essential for future planning, both short and long term, and companies need to know the financial implications of any decision before proceeding.

Typical tasks for Finance Jobs include:

• Providing and interpreting financial information;
• Monitoring and interpreting cash flows and predicting future trends;
• Analysing change and advising accordingly;
• Formulating strategic and long-term business plans;
• Researching and reporting on factors influencing business performance;
• Analysing competitors and market trends;
• Developing financial management mechanisms that minimise financial risk;
• Conducting reviews and evaluations for cost-reduction opportunities;
• Managing a company's financial accounting, monitoring and reporting systems;
• Liaising with auditors to ensure annual monitoring is carried out;
• Developing external relationships with appropriate contacts e.g. auditors, solicitors, bankers and statutory organisations such as the Inland Revenue;
• Producing accurate financial reports to specific deadlines;
• Managing budgets;
• Arranging new sources of finance for a company's debt facilities;
• Supervising staff;
• Keeping abreast of changes in financial regulations and legislation.

Qualifications

Financial jobs may be entered in a number of ways. School leavers may enter an entry level position and work their way up through a business. For higher paid positions with excellent career progression potential, a degree is usually required, whilst finance jobs are open to all graduates, the following subjects may increase your chances:

1. Business/Management;
2. Economics;
3. Accountancy and Finance;
4. Maths/Statistics.

Skills and Personal Qualities required in Finance Jobs:

• Commercial and business awareness;
• Excellent communication skills;
• An analytical approach to work;
• High numeracy and sound technical skills;
• Problem-solving skills and initiative;
• Strong attention to detail and an investigative nature;
• The ability to balance the demands of work with study commitments;
• Good time management skills and the ability to prioritise;
• The ability to work as part of a team and to build strong working relationships;
• The ability to make quick but balanced decisions;
• The potential to lead and motivate others;
• Very good IT skills.

Career Path

In financial recruitment, most financial managers undertake professional accountancy training, usually in industry, commerce or the public sector, most commonly joining either theACCA(Association of Chartered Certified Accountants), Chartered Institute of Management Accountants(CIMA) or Chartered Institute of Public Finance and Accountancy (CIPFA). They may move into the role of financial manager in the latter stages of their training, or they may take up the role afterwards. The expertise offered by employees in Finance jobs is extremely transferable. Although training may have taken place in an engineering company, for example, the knowledge and skills gained can be applied in any other environment across industry or commerce. Many financial managers use their knowledge of a company to move out of finance into a more general management role such as HR manager. Others decide to specialise in one industry, such as education. Depending on experience, some move on to the role of finance director or managing director. Knowledge about the day-to-day running of a company is invaluable in these roles.

Salary

Starting salaries for finance jobs typically range from £18,000 - £29,000. Average starting salaries in the banking and finance sector are as high as £27,500 rising to £38,000 in the investment banking sector. Salaries for newly qualified accountants in commerce and industry range from £28,500 - £48,500 upwards. Salaries for experienced financial managers in commerce and industry typically range from £58,000 - £90,000.

For more information contact us on freephone 0800 9553108 or email us recruitment@corkgriffiths.co.uk