what is a director FP&A (financial planning and analysis)?

As a director FP&A (financial planning and analysis), your goal is to improve the operations of the company you work for. You use financial data as well as what you learn from the day-to-day operation of the business to increase efficiency. You report to the highest levels of the company: the chief executive officer (CEO) and chief financial officer (CFO).

With your knowledge of key financial indicators and office performance, you can monitor productivity. As a director FP&A, you make important decisions about the company's budget and future. Aside from developing business strategies to boost growth, you also oversee daily accounting operations. Your duties include managing accounts payables, payroll activities and preparing financial reports.

Your background and education in business, finance or economics help you increase your success in accounting and financial analysis. Collaborating and planning with the finance team and demonstrating your business-savvy talent is part of your everyday routine.

As a director FP&A (financial planning and analysis), you need strong analytical skills to analyze the company's finances and maintain financial records. Your knowledge of other aspects of business operations, like production, sales and logistics, helps you identify various opportunities.

Would working as a director FP&A suit your analytical skills and business acumen? Then read on to find out what competencies and qualifications you need to thrive in a director FP&A role.

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average director FP&A (financial planning and analysis) salary

According to Job Bank, the average salary of a director FP&A in Canada is $117,348 per year. That means you receive an average salary of $60.18 per hour. Your exact earnings fluctuate based on experience and qualifications. In a junior-level business controller role, you start with a lower salary of $97,500 per year. As a senior business controller, you take home an annual salary of over $193,139.

what factors affect the salary of a director FP&A (financial planning and analysis)?

The earnings of directors FP&A vary by industry, location and the organization's size. As a director FP&A with minimal education, you earn a lower salary compared to directors FP&A with Chartered Financial Analyst (CFA) or Chartered Professional Accountant (CPA) qualifications. These financial certifications showcase your expertise and boost your earnings significantly.

The size of the organization also determines your salary. When you work in a small company, you perform minimal duties due to simpler operations. In a large organization, you earn a higher salary due to the complexity of your duties. The large number of financial resources in large companies also improves your earnings.

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types of directors FP&A (financial planning and analysis)

Directors FP&A (financial planning and analysis) typically fall into one of these categories:

  • financial controller: in this role, you are responsible for a company's management and financial planning. You work with auditors, managers, and CFOs to ensure tax code compliance and oversee spending and revenue.
  • marketing controller: your duties include analyzing and evaluating a company's spending on marketing and advertising. For this role, you need a strong background in marketing and finance.
  • human resources (HR) controller: your duties include making top decisions about personnel, including maximizing workforce training and efficiency. In addition to optimizing employee programs and benefits, you also support salary reviews and help obtain or retain good personnel.
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working as a director FP&A (financial planning and analysis)

If you are interested in becoming a director FP&A, read on to discover the duties, work schedules and work environments in the role.

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director FP&A (financial planning and analysis) skills and education

To become a director FP&A (financial planning and analysis), you need the following educational requirements:

  • bachelor's degree: to qualify for the position of a director FP&A, complete a bachelor's degree in accounting, business administration or finance. These degree programs equip you with business law, managerial accounting and business ethics knowledge. Degree courses take four years, and you can pursue a master's in business administration to improve competitiveness.
  • work experience: employers require director FP&A to have at least five years of experience in financial management. You can gain practical experience through entry-level positions in accounting or finance. You also require accounting or finance designations, such as Chartered Professional Accountant or Certified Internal Auditor certification.

competencies and characteristics of director FP&A (financial planning and analysis)

Aside from certifications, director FP&A require the following skills:

  • financial acumen: as a director FP&A, you require good financial knowledge. You rely on your deep understanding of financial procedures and operations to complete your duties. You will also need auditing, tax planning and financial reporting knowledge to excel in your role.
  • strategic thinking: as a director FP&A, you should be a good strategist. Being forward-thinking and strategic helps you forecast and make future plans. Your strategic thinking helps you prepare for any issues that may arise.
  • analytical skills: as a director FP&A, you advise the company on various issues and forecast market trends. This requires analytical skills to help you evaluate financial data and interpret complex financial statements. Your analytical thinking helps you identify financial risks and make informed decisions.
  • leadership and management: as a director FP&A, you lead a team of finance and accounting professionals. Your leadership skills help you motivate and inspire workers. Successful director FP&A with good management skills can delegate tasks, communicate expectations and build a positive working atmosphere.
  • attention to detail: as a director FP&A, you work in financial management and reporting, where even the smallest errors could have significant implications. Having a good eye for detail helps you find errors in financial reports and ascertain that the financial statements comply with the regulations.
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FAQs

Here, you will find the answers to the most frequently asked questions about the profession of a director FP&A (financial planning and analysis).

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