Head of Financial Department

1. General characteristics of the profession

A person who organizes the management of the movement of financial resources of an enterprise and the regulation of financial relations arising between economic entities in market conditions.

2. Official duties

Provides the development of the financial strategy of the enterprise and its financial stability. Supervises the development of projects for future and current financial plans, forecast balances and cash budgets. Provides to bring the approved financial performance to business units. Participates in the preparation of draft plans for the sale of products (works, services), capital investments, research and development, planning production costs and profitability of production, leads the work on the calculation of profits and income taxes. Determines the sources of financing of the enterprise’s economic activity, including budget financing, short-term and long-term loans, issuance and purchase of securities, leasing financing, raising borrowed funds and using own funds, conducts research and analysis of financial markets, assesses possible financial risk for each source of funds and develops proposals to reduce it. Carries out investment policy and asset management of the enterprise, determines their optimal structure, prepares proposals for the replacement and liquidation of assets, monitors the securities portfolio, analyzes and evaluates the effectiveness of financial investments. Organizes the development of standards for working capital and measures to accelerate their turnover. Provides timely receipt of income, execution of financial, accounting and banking operations in a timely manner, payment of vendor and contractor bills, repayment of loans, interest payments, wages to workers and employees, transfer of taxes and fees to federal, regional and local budgets, to state extra-budgetary social funds, payments to banking institutions. Analyzes the financial and economic activities of the enterprise, participates in the development of proposals aimed at ensuring solvency, preventing education and eliminating unused inventory values, increasing the profitability of production, increasing profits, reducing production costs and sales, strengthening financial discipline. Supervises the implementation of the financial plan and budget, sales plan, profit plan and other financial indicators, the cessation of production of products that do not have sales, proper spending of money and the targeted use of own and borrowed working capital. Provides accounting of the movement of funds and reporting on the results of financial activities in accordance with the standards of financial accounting and reporting, the accuracy of financial information, controls the correctness of the preparation and execution of reporting documents, the timeliness of its presentation to external and internal users. Supervises the department staff.

3. Qualification requirements

Higher professional (economic or engineering-economic) education and professional experience in the field of financial management for at least 5 years.