what is the role of Financial manager


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Role and responsibilities of financial manager

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what is the role of Financial manager

  1. 1. Financial manager: A financial manager is responsible for providing financial advice and support to clients and colleagues to enable them to make sound business decisions. Specific work environments vary considerably and include both public and private sector organizations, such as multinational corporations, retailers, financial institutions, NHS trusts, charities, small manufacturing companies and universities. Financial considerations are at the root of all major business decisions. Clear budgetary planning is essential for short and long-term future planning, and companies need to know the financial implications of any decision before proceeding. In addition, care must be taken to ensure that financial practices are in line with all statutory legislation and regulations. Financial managers may also be known as financial analysts or business analysts. Typical activities include:  providing and interpreting financial information;  monitoring and interpreting cash flows and predicting future trends;  analyzing change and advising accordingly;  formulating strategic and long-term business plans;  researching and reporting on factors influencing business performance;  analyzing competitors and market trends;  developing financial management mechanisms that minimize 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 organizations 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.
  2. 2. HR Manager A human resources manager is responsible for managing and overseeing the personnel department within a company, organization or agency. This includes posting advertisements or approving advertisements for new employees, screening resumes and applications, setting interview appointments and being involved in the hiring process. In most agencies the human resources manager is also key in providing employee supervision and evaluations, retraining employees, offering mediation services for struggling employees as well as firing employees that are not meeting standards. some imp points to b focused and prioritize are:- Manpower Planning Recruitment Staffing Induction to new joinees Training Performance Appraisal Promotions, Transfers and Demotions Retirement, apart from these policies, welfare to employees, icebreakers, fun at work, etc. Employee retention, U can catagorizically put into two categories MIS Management Database