Every company that aspires to occupy an important place in the wide world of business requires an organizational structure that represents the type of exercise it performs, with trained personnel to perform in each function that establishes its position. Within these structures is the financial organization of the company that, like the other structures, has a director, in this case, the finance director, its managers, leaders and other personnel necessary for the management to function correctly, similar to the behavior of a system.
The director of finance is the main member of a team that is responsible for maintaining the strength of the economy of the company; this person directs the strategic, operational, accounting and financial control work. They establish profitability projections in the short, medium and long-term, support and develop financial initiatives that aim at the economic growth of the company. To perform all these functions, a person who is running for the position of director in the area of finance must have the talent and skills to fulfill this role, must have experience and strategic capacity.
A qualified person to occupy the financial management must possess skills for financial management, analytical skills; manage skills for an effective communication that allows transmitting data and complex financial information in a simpler way that all people can understand. He must also master the new technologies for databases and technical reports and great experience in the financial field to be able to direct the direction strategically and make effective decisions.
To ensure the performance of the company, managers study projections, perform comprehensive analyzes that allow them to make decisions and develop strategies to ensure success and profitability. This work is done as a team, together with the other senior executives of the other processes involved in the company.
It also exercises control and monitoring functions over the policies developed to minimize and anticipate risks since they are responsible for maintaining revenues and expenses within the proposed margins so as not to significantly affect finances and budgets.
A fundamental part of its responsibilities is to present management reports, which may be quarterly, semi-annual or annual, and in which it must detail the financial activities and their impact, whether positive or negative, adjusted to the accounting. These reports reveal the performance of the company to shareholders. In the same way, they disclose in the mass media specialists in the business area these reports to generate an atmosphere of trust and credibility in shareholders and financial analysts as well as attracting potential investors offering information on financial results.
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