what is a director financial reporting jobs?
As a director financial reporting, you oversee finance teams. You participate in budget-setting and support various departments in maintaining their budgets. You also work with other professionals and provide support in financial planning. Therefore, you need experience with accounting technologies to aid your performance. As a director financial reporting, your duties expand to other managerial responsibilities, such as supervising the accounting team.
As a director financial reporting, you are responsible for maintaining a company's current and future stability. You need exceptional skills in accounting and decision-making to take control and be accountable for a company's financial strategies, cost-reduction opportunities and growth evaluation.
Director financial reporting work in any industry, including both the public and private sectors. Whether you work in fast-moving consumer goods (FMCG) companies, technology consultancies, not-for-profit organizations or financial services, you perform the same responsibilities. However, the size of the business influences your duties. For instance, in a small company, you manage the business's financial affairs directly, but you may also handle the duties of a finance manager. In large companies, your duties depend on the accounting complexity and the finance team's size. You could specialize in finance management or supervise the accounting team. The role usually requires strong analytical skills as you handle statistical data.
Would working as a director financial reporting suit your financial acumen and strong analytical skills? Then read on to find out what competencies and qualifications you need to thrive in a director financial reporting role.
view jobsaverage director financial reporting salary
According to Job Bank, a director financial reporting takes home an average salary of $115,000 per year, which translates to an hourly rate of $58.97. In an entry-level position, you start with a salary of $85,000 annually. When you have experience and additional qualifications, you make up to $194,435 per year.
how can you increase your salary as a director financial reporting?
Your qualifications and experience influence your salary. When you are new to the role, you earn a lower salary due to minimal experience and qualifications. As you improve your experience, your salary will also increase gradually. Having additional certifications also boosts your earning potential.
The company size also determines your earnings. For instance, when you work in a small company, you are in charge of fewer financial resources. Hence, you earn a lower salary than a director for financial reporting working in large companies with substantial financial resources.
The location may also influence your earnings due to fluctuations in demand and cost of living. In large cities, you are likely to earn more due to the high cost of living and demand for directors for financial reporting from large companies.
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access our tooltypes of directors financial reporting
The role of a director financial reporting has four main aspects:
- Stewards: as a steward, you conserve and protect a company's resources. You accurately report the company's financial position, manage risks and preserve your employer's assets.
- Operators: as an operator, you ensure efficient and effective operations in the accounting department. That involves managing the accounting process to ensure accuracy.
- Catalysts: as a catalyst, you drive execution by providing the correct information at the appropriate time to stakeholders. You help in decision-making and guide decision-makers to the best options.
- Strategists: as a strategic finance controller, you help the executive team drive the company's growth. You aid the development of business strategies.
working as a director financial reporting
Directors for financial reporting work with accounting and finance teams to control finance and administrative functions. Let's explore the specific roles, work environment and career outlook of a director financial reporting.
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what does a director financial reporting do?
Some of the common tasks of a director financial reporting include:
- managing audits: as a director financial reporting, you finalize internal audits in a company. You oversee the roles of internal audit teams and review their findings to check for potential errors or fraud. When the audit reports are complete, you present them to senior management.
- controlling financial accounts: as a director financial reporting, you manage the preparation of financial accounts, from monthly to quarterly and annual accounts. You also oversee accounts receivable and payable. Sometimes, the role involves monitoring cash flows to ensure the company meets its short-term obligations and optimizes investments.
- accounting oversight: as a director financial reporting, you ensure the accounting distributions are accurate and all monies are accounted for properly. You oversee the disbursement of cash and manage payroll activities and bank settlements. You also supervise the accounting team to maintain accurate checks and balances.
- financial planning and reporting: you are in charge of banking and finance functions, including studying and reviewing financial contracts and negotiating credit agreements. You ensure the executive has accurate financial planning data, as well as assist various departments in creating budgets, helping them prepare projected cash flow reports to support the finance allocation.
- financial analysis: apart from financial reporting, you conduct financial analysis on various plans and advise management. For instance, if a company wants to invest in a particular investment, you assess the risk using statistical data. You also find efficient ways of executing a business plan to improve financial management.
- ensuring compliance: as a director financial reporting, you make sure the company complies with local laws and regulations. You ensure the company remits all the necessary taxes and adheres to statutory requirements and relevant industry regulations to avoid penalties or fines.
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work environment of a director financial reporting
As a director financial reporting, your work environment depends on the industry you work in and your employer. For instance, if you work for a financial service company, you are likely to work in insurance or banking, and your role involves working indoors in an office environment. You will likely have your own office, but you spend most of the day attending meetings to catch up with accounting teams in various departments. While you don't meet directly with customers, the role requires professional attire at all times. Depending on the employer, you could also work from home or remotely and conduct meetings virtually.
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who are your colleagues?
Depending on the company you work for, you are likely to interact with accountants, VPs of finance (large enterprise) and finance assistants. Aside from working with the finance team, you also collaborate with operational managers, business analysts F&A and data analysts.
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director financial reporting work schedule
Directors for financial reporting work regular business hours, typically from 9 am to 5 pm during the working week. That means you work 40 hours per week, although you work occasional evenings to meet deadlines and complete tasks during busy tax periods. While most employers provide full-time opportunities, you can find part-time roles and opportunities to work remotely. Unless attending conferences and meetings, the role involves minimal travelling. If you work for a multinational with multiple branches, you may travel overseas to review their financial performance or manage internal audits.
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career opportunities as a director financial reporting
Being a director financial reporting is a rewarding career. However, you cannot start as a director financial reporting straight out of college. Most director financial reporting start as accountants before becoming auditors and eventually taking on a senior accounting job. You can become a director financial reporting after gaining extensive experience in accounting and finance, especially in senior managerial positions. If you have a background in accounting and finance, it opens doors to other senior finance roles. For instance, you can become a finance manager or the chief financial officer (CFO) of a company.
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advantages of finding a job as a director financial reporting through randstad
Working with Randstad offers you a range of benefits.
- Always a contact person you can fall back on and ask for help from
- Many training opportunities
- A range of jobs in your area
director financial reporting skills and education
To work as a director financial reporting in Canada, you should meet the following requirements:
- bachelor’s degree: a university degree is the minimum requirement for becoming a director financial reporting. You can pursue a bachelor’s degree in business administration, accounting or finance. You may also need a master’s degree in business administration or finance to take up leadership positions.
- certifications and work experience: aside from a bachelor’s degree, you require certifications to improve your employment prospects. For instance, complete the qualification to become a Chartered Professional Accountant (CPA). Other important certifications for director financial reporting are the Chartered Financial Analyst (CFA) certificate and the Certified Management Accountant (CMA) certificate.
competencies and characteristics of a director financial reporting
Some of the personal qualities of a director financial reporting include:
- computing skills: as a director financial reporting, it is crucial to be familiar with office technology to succeed. For instance, you should master the Microsoft Office suite, especially Excel and Databases. Your computing skills are useful in bringing together the information you have gathered and analyzing it to make decisions.
- communication skills: you should be a great communicator to relay information to the accounting team. Communication skills also help you explain the risks of an investment to the executive team in simple terms.
- analytical skills: directors financial reporting analyze various financial information and accounting data. For instance, you analyze financial accounts during internal audits and assess the risks of an investment. Analytical skills help you improve your decision-making.
- leadership and management skills: being a good leader helps you manage and motivate people to optimize their performance. Leadership skills also help you become more strategic in your approach.
FAQs
Here, you will find the answers to the most frequently asked questions about the profession of a director financial reporting.
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what is the job description of a director financial reporting?
A director financial reporting is the leader of the accounting team, responsible for overseeing the company’s financial health. As a director financial reporting, you typically maintain and manage financial statements. You are also in charge of payroll, tax compliance issues and budgets.
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what are the duties of a director financial reporting?
As a director financial reporting, your duties include financial planning and analysis through budget preparation and forecasting. You keep track of the cash flow in the business, as well as prepare the financial reports for the management and board of directors. As a director financial reporting, you analyze the best investment opportunities and forecast their returns to help the management team make the best investment decisions.
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how much do directors financial reporting make in Canada?
As a director financial reporting, you earn an average salary of $115,000 per year. When starting in the role, your salary is $85,000 annually. With experience and additional qualifications, you earn over $194,435 per year. Aside from experience and qualifications, you can boost your salary by working for large companies or in big cities.
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is a director financial reporting higher than an accountant?
Yes. As a director financial reporting, you oversee the accounting operations of a company. Your duties involve managing staff and evaluating the company investments. Since your responsibilities go beyond that of an accountant, you have a senior role in the company.
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does a director financial reporting need a CPA?
While it is not mandatory to have a CPA designation to work as a director financial reporting, some companies expect you to have the qualification. Besides, having a CPA improves your expertise in managing company accounts.
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how do I find a job as a director financial reporting?
Finding a job near you as a director financial reporting is easy. Search our job offers. Have you found what you're looking for? Then submit your application using the ‘Apply’ button top right on the page. No jobs available right now? Send us your resume and we'll pass it on to a recruiter who will contact you if an opportunity opens up for you.
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