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Director of Finance Job Description: Top Duties and Requirements

A Director of Finance, or Controller, is an individual who manages the financial and accounting departments for an organization. Their main duties include evaluating and directing accounting, audit or financial departments, developing financial policies for an organization, and evaluating and improving records systems already in place.

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Director of Finance duties and responsibilities

The Director of Finance takes on the responsibility of everything related to finance and accounting or auditing in a corporation. Some tasks a Director of Finance may be expected to perform daily include:

  • Develop a plan for accounting, finance, and auditing departments
  • Create reports and evaluate internal reporting systems
  • Create and execute a plan to improve the management of financial statements and audit documentation
  • Establish profitability standards and financial goals for the company
  • Report all financial discrepancies or report findings to upper management
  • Act as the liaison between upper management and shareholders
  • Establish and control budgets across all departments
  • Hire, train, and manage senior management staff
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What does a Director of Finance do?

A Director of Finance is responsible for the financial departments of an organization. They control and execute plans to maintain the financial standards of the company. They implement procedures and create blueprints for reporting and evaluations. They are also responsible for preparing and analyzing financial statements, and managing all fiscal reporting. One of the most important goals of the Director of Finance is to manage the company’s finances in a manner that allows for maximum efficiency and profitability. The Director of Finance is also responsible for hiring and training staff in the financial and accounting departments.

Director of Finance skills and qualifications

A strong Director of Finance candidate possesses a variety of skills and qualifications necessary for filling such an important position within the organization. Skills and qualifications to look out for in a prospective candidate include:

  • Strong attention to detail
  • Excellent knowledge of mathematics, accounting, and finance principles
  • Exceptional organizational skills
  • Strong reporting and analytical skills
  • Ability to manage and balance budgets
  • Great communication skills
  • Ability to work under pressure
  • Ability to manage several teams and projects at once

Director of Finance experience requirements

As a management position, a Director of Finance candidate is expected to have more than a few years of experience working in finance, accounting, auditing, or a related field. The best candidates also have ample, proven leadership experience in middle management or other roles within the finance department or field.

Director of Finance education and training requirements

A Director of Finance candidate usually has a university degree in finance, accounting, business administration or a related field of study. As they need to manage the accounting and auditing departments, candidates with an additional designation such as Chartered Professional Accountant (CPA), Certified Treasury Professional (CTP), or Chartered Financial Analyst (CFA) are an asset. An applicant with a Master’s in Business Administration (MBA) is considered a very strong candidate for the position.

Director of Finance salary expectations

According to Indeed Salaries, the average Director of Finance in Canada earns a salary of $106,340 per year. Salaries may vary based on factors like geographical location, the size of the organization, and the employee’s level of experience and education.

Job description samples for similar positions

If a Director of Finance isn’t exactly what you were looking for, consider browsing some related job description samples to find a better fit for your needs:

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Director of Finance job description FAQs

What is the difference between a Director of Finance and a Finance Manager?

A successful candidate for the Director of Finance position can effectively prepare, analyze and improve financial reports. They have impeccable budgeting abilities, numeracy skills, and a strong work ethic. Candidates need to have proven leadership experience and should value team building. They need to problem solve, manage large-scale financial plans, and reassess regularly to ensure the team is maximizing company profits.

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