An Assistant Finance Manager is a professional who plays a vital role in assisting the finance team and supporting the overall financial management of an organization. They work closely with Finance Managers to ensure accurate financial reporting, efficient operations, and compliance with financial regulations. In this blog post, we will explore the primary responsibilities and the most in-demand hard and soft skills for Assistant Finance Managers.

Get market insights and compare skills for other jobs here.

Main Responsibilities of an Assistant Finance Manager

The following list describes the typical responsibilities of an Assistant Finance Manager:

Accomplish

Accomplish key performance indicators as identified by the Manager.

Apply

Apply structure to work, balancing everyday tasks and duties against projects and adhoc requests.

Assist

• Assist in budgeting and forecasting processes to ensure effective financial planning.

• Assist in evaluating investment opportunities and conducting financial feasibility studies.

• Assist in financial risk management and mitigation strategies.

• Assist in preparing financial presentations and reports for senior management.

• Assist in setting up a new accounting system.

• Assist in the development and implementation of financial policies and procedures.

• Assist in the preparation of financial statements for audits and compliance.

• Assist the head of finance with the annual premium and claims payment reconciliations.

Balance

Balance sheet reconciliations.

Be

• Be responsible for accounts payable and receivable.

• Be responsible for general ledger analysis.

• Be the main contact with the bank, Revenue Agency & other parties (auditors etc..).

Collaborate

Collaborate with cross-functional teams to support financial decision-making.

Complete

Complete contract management responsibilities.

Conduct

• Conduct cost analysis and identify cost-saving opportunities.

• Conduct financial analysis to identify trends, variances, and areas for improvement.

Control

Control and protect the assets in the interest of the organization.

Coordinate

Coordinate and support system implementation, take ownership over finance processes and controls.

Create

Create periodic dashboards with key financial metrics which is important for decision making.

Customize

Customize system and perform changes when needed.

Develop

• Develop and implement the annual management plan.

• Develop a process and educate employees for the best tax saving scheme.

• Develop a product wise per unit cost matrix for all the geographies.

• Develop effective, supportive and collaborative relationships with colleagues.

Drive

Drive to take the initiative, own issues and follow actions through to completion.

Ensure

• Ensure accurate and timely finalization of balance sheet on monthly basis.

• Ensure accurate and timely preparation of cashflow statement on monthly basis.

• Ensure accurate and timely preparation of SOCIE statement on monthly basis.

• Ensure all Regulatory filings with the Registrar of Companies are as per the country specific laws.

• Ensure compliance with financial regulations and reporting standards.

• Ensure monthly accrual reports submitted on a Pan India Basis.

• Ensure NIL / Zero GRNV & Log Suspense.

• Ensure, no service by vendors without being JDE PO issued.

• Ensure that all financial accounting and reporting is audit worthy.

• Ensure that all Legal & statutory compliances are met for the client.

• Ensure the matrix is constantly updated.

• Ensure the system of internal controls is effective and efficient.

• Ensure timely submission of Capex requests facility wise along with detailed Business cases.

• Ensure to have PO's issued to vendors for services to be rendered.

• Ensure, vendors submit invoices to JBS within time limit immediately after the service is complete.

Escalate

Escalate high risk / cost matters appropriately with proposed solution.

Establish

• Establish Monthly reports on costs and Budgets and their trends.

• Establish procedures to ensure only correct amounts are paid.

Follow-up

• Follow-up on approvals, track on PO & related invoice payments.

• Follow-up on client PO and ensure Pos in place so that invoicing to client does not stop.

• Follow-up with client on collections and ensure collection is received by due date.

• Follow-up with client on TDS certificates on regular basis.

Generate

Generate new and innovative approaches to problems.

Identify

Identify the key issues, effectively prioritise, plan ahead and manage expectations.

Keep

Keep those ambitions in sights and imagine where JLL can take you....

Lead

• Lead financial governance for Ent Ops and enable service line reviews.

• Lead the decision support system within the vertical, driving analytics and insights.

• Lead the Month End Closure, quarterly Rolling Forecast and other central financial processes.

Liaise with

Liaise with global procurement teams and prepare global commitments data to support ARA.

Maintain

• Maintain accurate records of financial transactions and ensure proper documentation.

• Maintain all records with related to finance in hard and soft copies.

Manage

• Manage and reconcile bank statements and financial accounts.

• Manage AP (JD Edwards) and AR process.

• Manage Client Billing, Invoice Reconciliation & consolidation for client & corporate purposes.

• Manage Month End procedures.

• Manage Vendor Payments, coordinating the process with Facility Managers.

Monitor

• Monitor and analyze financial data to identify risks and opportunities.

• Monitor cash flow and manage accounts payable and receivable processes.

• Monitor and ensure on all vendor invoice processed by Executives & for vendors as per SLA timelines.

• Monitor on all purchases against blanket PO & ensure all purchase covered under Purchase order.

• Monitor, validate all cash flow data and prepare cash-flow forecast.

Oversee

Oversee the procedures and support of clients' accounts.

Participate

Participate in financial modeling and scenario analysis for strategic planning.

Perform

• Perform bank reconciliations.

• Perform deposit reconciliation and miscellaneous billing.

• Perform other duties related to the accounting / finance of the company.

Prepare

• Prepare and submit month-end entries including bank transactions, accruals and prepaid expenses.

• Prepare financial reports, including balance sheets, income statements, and cash flow statements.

• Prepare government reports (GST / QST).

• Prepare the financial statements.

Produce

Produce monthly bank reconciliations for purchase ledger accounts by working day.

Provide

• Provide financial advice and support to client / account.

• Provide financial support and guidance to other departments within the organization.

• Provide invoice processing service in accordance with the requirements of Finance Department.

• Provide timely and accurate management reports location wise to the client.

• Provide timely and accurate monthly FM meeting reports with analysis to monthly JLLM meeting.

Raise

Raise invoices if required and effectively resolve any payment queries.

Report

Report the fiscal profit / loss incurred on yearly or weekly basis.

Review

• Review issued customer letters and update templates.

• Review of quarterly VAT return in an accurate and timely manner.

Stay updated with

Stay updated with industry trends, best practices, and changes in financial regulations.

Streamline

Streamline existing Finance processes in Ent Ops (standardize / automate / transform / stop).

Suggest

Suggest appropriate alternative options and agrees the best way forward with the customer.

Support

• Support client / accounts' billing and invoicing.

• Support client opex / capex budgeting and forecasting, including cash flow management.

• Support compliance with all legislative requirements and client contractual obligations.

• Support cost optimization initiatives by tracking them and validating delivery.

• Support Finance Leadership on cross functional projects.

• Support financial audits and coordinate responses to audit findings.

• Support implementing the new reporting requirements on a timely basis as needed.

• Support in the implementation of short and long-term projects.

• Support the implementation of financial systems and software.

• Support the leadership team in achieving all relevant KPI's throughout the term of the Contract.

Take

• Take a realistic view of own strengths and weaknesses.

• Take ownership for documentation and communication of the compensation elements to the employees.

• Take responsibility for seeing things through.

Track

Track vendor contracts & renewals.

Train

Train staff on the new system.

Understand

• Understand and values the importance of seeking feedback.

• Understand the services to be provided to client basis agreement.

Use

Use Apptio tool, to mine data and drive insights for cost savings opportunities.

Work with

• Work collaboratively with the team while promoting continuous improvement.

• Work proactively without always being told what to do.

• Work with executives and business heads to prepare budget.

• Work with the Finance Manager to review and communicate process improvements.

Most In-demand Hard Skills

The following list describes the most required technical skills of an Assistant Finance Manager:

1. Proficiency in financial analysis and financial modeling.

2. Advanced knowledge of accounting principles and financial reporting standards.

3. Experience with financial management software and ERP systems.

4. Strong Excel skills for data analysis and financial modeling.

5. Knowledge of budgeting and forecasting techniques.

6. Familiarity with tax laws and regulations.

7. Understanding of risk management and internal controls.

8. Ability to interpret and analyze financial data.

9. Knowledge of financial statement analysis and interpretation.

10. Experience with financial audits and compliance.

Most In-demand Soft Skills

The following list describes the most required soft skills of an Assistant Finance Manager:

1. Strong analytical and problem-solving skills.

2. Excellent attention to detail and accuracy.

3. Effective communication and presentation skills.

4. Ability to work collaboratively in a team environment.

5. Strong organizational and time management skills.

6. Integrity and ethical behavior in handling financial information.

7. Adaptability and flexibility to work in a fast-paced and changing environment.

8. Strong interpersonal skills for building relationships with stakeholders.

9. Ability to handle confidential information with discretion.

10. Leadership potential and the ability to take initiative.

Conclusion

Assistant Finance Managers play a critical role in supporting the finance team and ensuring the smooth functioning of financial operations. They are responsible for various financial tasks, including reporting, analysis, compliance, and financial planning. Possessing a combination of technical skills such as financial analysis, accounting knowledge, and proficiency in financial software, as well as essential soft skills like communication, problem-solving, and adaptability, is crucial for success in this role. By fulfilling their responsibilities and leveraging their skills, Assistant Finance Managers contribute to the financial stability and success of their organizations.