Finance Department Hierarchy (by Abdul Khaliq).
Depending on the organization's size, the roles become specialized or require multitasking skills.
In large corporations, each function is usually handled by a specialized individual.
In SMEs, one individual may perform multiple functions.
Nevertheless, the functions remain almost the same; somebody has to carry out these duties.
•The Finance Manager - Accounting manages day-to-day accounting operations and financial reporting.
• Financial Reporting Specialist handles the preparation and presentation of financial statements.
• Accounts Payable Accountant manages the organization's outgoing payments and vendor relationships.
• Accounts Receivable Accountant is responsible for collecting outstanding payments from customers.
• General Ledger Accountant maintains the company's financial records and ensures accuracy.
• Fixed Assets Accountant manages and tracks the organization's long-term assets.
• The Head of FP&A leads the Financial Planning and Analysis function, driving strategic financial planning, budgeting, and forecasting initiatives.
• The FP&A Manager oversees the entire Financial Planning and Analysis team, ensuring strategic alignment and effective financial decision-making.
• FP&A Analyst conducts in-depth financial analysis, generates reports, and provides insights to support planning and decision-making processes.
• Budget Analyst focuses on developing and managing budgets, analyzing variances, and collaborating with departments to optimize financial performance.
• Head of Treasury strategically manages the organization's treasury function, overseeing risk management, liquidity, and financial planning.
• Treasury Manager executes treasury strategies, monitors cash flow, and ensures financial risk management.
• Cash Management Specialist optimizes cash position forecasts and implements strategies to enhance liquidity.
• Bank Relations Officer handles relationships with financial institutions and negotiates terms.
• Head of Risk Management leads the overall risk strategy.
• Manager, Risk Management oversees day-to-day risk operations, implementing risk mitigation strategies.
• Compliance Officer ensures adherence to regulations and internal policies.
• Risk Analyst conducts risk assessments, analyzes data to identify potential threats, and develops risk mitigation plans.
• Head of Taxation leads the tax department, developing and implementing the organization's tax strategy.
• Manager, Tax oversees day-to-day tax operations, including compliance, planning, and reporting activities.
• Tax Analyst conducts detailed analysis of tax data, ensuring accuracy and assisting in strategic tax planning.
• Tax Filing Specialist focuses on the accurate and timely preparation and submission of tax returns.
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Enroll in our LinkedIn Learning course “Driving business impact for finance professionals“ here: https://bit.ly/4a5fB9l
Depending on the organization's size, the roles become specialized or require multitasking skills.
In large corporations, each function is usually handled by a specialized individual.
In SMEs, one individual may perform multiple functions.
Nevertheless, the functions remain almost the same; somebody has to carry out these duties.
•The Finance Manager - Accounting manages day-to-day accounting operations and financial reporting.
• Financial Reporting Specialist handles the preparation and presentation of financial statements.
• Accounts Payable Accountant manages the organization's outgoing payments and vendor relationships.
• Accounts Receivable Accountant is responsible for collecting outstanding payments from customers.
• General Ledger Accountant maintains the company's financial records and ensures accuracy.
• Fixed Assets Accountant manages and tracks the organization's long-term assets.
• The Head of FP&A leads the Financial Planning and Analysis function, driving strategic financial planning, budgeting, and forecasting initiatives.
• The FP&A Manager oversees the entire Financial Planning and Analysis team, ensuring strategic alignment and effective financial decision-making.
• FP&A Analyst conducts in-depth financial analysis, generates reports, and provides insights to support planning and decision-making processes.
• Budget Analyst focuses on developing and managing budgets, analyzing variances, and collaborating with departments to optimize financial performance.
• Head of Treasury strategically manages the organization's treasury function, overseeing risk management, liquidity, and financial planning.
• Treasury Manager executes treasury strategies, monitors cash flow, and ensures financial risk management.
• Cash Management Specialist optimizes cash position forecasts and implements strategies to enhance liquidity.
• Bank Relations Officer handles relationships with financial institutions and negotiates terms.
• Head of Risk Management leads the overall risk strategy.
• Manager, Risk Management oversees day-to-day risk operations, implementing risk mitigation strategies.
• Compliance Officer ensures adherence to regulations and internal policies.
• Risk Analyst conducts risk assessments, analyzes data to identify potential threats, and develops risk mitigation plans.
• Head of Taxation leads the tax department, developing and implementing the organization's tax strategy.
• Manager, Tax oversees day-to-day tax operations, including compliance, planning, and reporting activities.
• Tax Analyst conducts detailed analysis of tax data, ensuring accuracy and assisting in strategic tax planning.
• Tax Filing Specialist focuses on the accurate and timely preparation and submission of tax returns.
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Enroll in our LinkedIn Learning course “Driving business impact for finance professionals“ here: https://bit.ly/4a5fB9l
