Main Responsibilities and Required Skills for Finance Lead
A Finance Lead is a professional who is responsible for overseeing and managing various financial activities and functions within a company. They develop and implement financial plans and strategies and oversee financial operations. In this blog post we describe the primary responsibilities and the most in-demand hard and soft skills for Finance Leads.
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Main Responsibilities of Finance Lead
The following list describes the typical responsibilities of a Finance Lead:
Adapt
Adapt existing methods, tools and procedures to create solutions to deliver on client needs.
Analyze
Analyze underlying economics quickly to identify key value drivers and sensitivities.
Assemble
Assemble monthly consolidated P&L and Balance Sheet analysis for management reporting.
Assess
Assess, strategize and manage Workday deployments for organizations across the globe.
Assist in
Assist external accountants to provide needed information.
Assist in managing and executing team projects and strategic initiatives.
Assure
Assure adequate SOX accounting controls in all related processes.
Automate
Automate and improve planning and reporting processes.
Build
Build and nurture optimal and trustful client and industry relationships.
Build, develop and manage efficient and balanced consultant projects teams.
Build due diligence material for potential investors, lenders, partners, internal stakeholders, etc..
Build financial and operational metrics dashboards to report key insights.
Build relationship with shared service providers (GFS and Mfg CoE).
Calculate
Calculate WIP, process substantial completion documentation.
Collaborate with
Collaborate on sales strategy and pricing.
Collaborate with business units to develop financial models to track and improve KPIs.
Collaborate with responsible parties to develop action plans to close any identified gaps.
Collect
Collect and record all cost data.
Conduct
Conduct ad hoc projects and perform all other duties as assigned and required.
Configure
Configure unit with personnel to support operations.
Coordinate
Coordinate with outside auditors and accounting resources.
Define
Define and measure the IT service management process.
Define business requirements aligned with project goals / objectives.
Design
Design and configure system.
Develop
Develop and / or continues improve in-region and corporate financial analysis and reporting.
Develop financial recommendations for committee & senior management reviews.
Develop, maintain and operate IT services and capabilities to support IT solution delivery.
Develop operating documents and financing agreements from paper to model.
Develop pipeline of M& A targets and the competitive landscape.
Develop test plans and allocate internal resources as and when appropriate.
Document
Document and maintain all financial work processes.
Drive
Drive deep business performance analytics and surface relevant insights.
Drive financial best practices across the function to elevate profitability.
Drive process improvement and proactively identify cost reduction opportunities.
Drive quarter-end reporting packages in preparation for Earnings announcements.
Drive recommendations to mitigate risk and deliver upside.
Drive a culture of compliance within the SLT and more broadly across the site.
Drive cost efficiencies and capital allocation initiatives.
Drive special Finance project as needed by CFO and Finance leads directions.
Engage
Engage in learning, networking, community service and events.
Engage the business to define a portfolio of solutions that meet business goals and objectives.
Enhance
Enhance processes and modeling techniques to promote efficient workflow and timely deliverables.
Ensure
Ensure accurate and timely processing and payments of all Global payrolls.
Ensure alignment of business and IT strategy.
Ensure all statutory reporting and annual returns are actioned.
Ensure compliance with corporate guidelines and policies (i.e. SOX).
Ensure efficient infrastructure and processes are in place.
Ensure flow of information that supports and results in accountability and ownership.
Ensure outlook, forecast, plan and key processes stay on track and meet partner expectations.
Ensure rigor of business development case analysis and financial input in investment decisions.
Ensure strong and efficient internal control environment.
Ensure that the system accurately meets the defined expectations of the business.
Ensure timely reporting of payroll deductions, corporate filings, government reports and HST rebates.
Escalate
Escalate / Resolve initiative impediments from business and finance community.
Establish
Establish a strong governance framework, including performing analysis on impact and risk assessment.
Establish or transitions into a unit under the Finance / Administration Section.
Evaluate
Evaluate and implement new accounting processes to better control and forecast costs.
Evaluate TAM, revenue and profit opportunity for new products and features.
Facilitate
Facilitate credit and collections from customers.
Facilitate deal negotiations with vendors and partners, including financial analysis.
Focus on
Focus on developing executive level reports and identifying key insights for decision support.
Follow
Follow bid book projects on JV and relay the information to the leadership of the division.
Generate
Generate pertinent performance information and analysis on key revenue drivers.
Get
Get ready to tackle numerous mission-critical company directives.
Give
Give you the inside scoop.
Handle
Handle inter-company transactions with affiliate companies.
Help
Help the business execute on growth initiatives and ensure the execution against the operating plan.
Help with the development of Managed Talent.
Identify
Identify and analyse project risks and dependancies.
Identify and communicate revenue risks and opportunities.
Identify and document system deficiencies and recommend solutions.
Identify and lead business process improvements to generate organizational efficiencies.
Impact
Impact the direction and resource allocation for programs and services.
Implement
Implement, improve and oversee the monthly reviews of manufacturing, IT and digital projects.
Interface with
Interface with Audit - answer questions / requests from Audit on system testing.
Lead
Lead analysis of financial models underpinning deal terms.
Lead cost of sales analysis and optimization of GTM resources / investments.
Lead financial planning for DME.
Lead large business technology initiatives.
Lead Medical Finance support for Internal Medicine.
Lead periodic business reviews.
Lead special projects, potentially including M& A analysis and execution.
Lead teams effectively, trains them well and establishes forward looking succession plans.
Lead the completion of annual operating budget for the site.
Lead the preparation of quarterly budget / re-forecast updates and maintaining the long-range plan.
Lead the team and assist with the training and development of new employees.
Lead to ensure the Finance engine of the business runs silently and smoothly.
Led
Led at multiple projects as a financial lead with a team size of at least 10 people.
Leverage
Leverage current market insights to assess risks and opportunity to operational and financial plans.
Leverage information and analysis to influence decision-making.
Maintain
Maintain accounts payable.
Maintain cumulative incident cost records.
Make
Make financial updates in accordance Pfizer policies.
Make sure that the company's politics and procedures are followed across the network.
Manage
Manage Ad-hoc projects as necessary.
Manage and develop the finance organization (incl.
Manage Business unit cash performance to optimize cash collection and to address delinquent accounts.
Manage current training requirements in line with role and responsibilities.
Manage removal of subscriptions deemed as fraud activity by Fraud Squad.
Manage Services and Maintenance Training divisions forecasting and budgeting processes.
Manage SOX control documentation and participate in SOX testing and audit activities as needed.
Manage the budgeting and forecasting functions related to academies.
Manage the production of the annual budget and forecasts.
Map
Map chart of accounts and consolidation processes, whilst understanding current and future state.
Maximize
Maximize cash flow from financing via grants.
Monitor
Monitor risks to the organization and surface issues before they become critical.
Operate
Operate on a lean business model taking into account unit economics.
Oversee
Oversee financial operations, prepare financial reports and develop budgets.
Own
Own allocation methodology for GTM resources / expenses and provide Contribution Margin P&L Support.
Own budget preparation and budget vs.
Own corporate submissions and financial reporting to Corporate.
Own financial analysis and facilitate integration of trends into business unit forecasts.
Own the timeline and deliverables associated with cross functional projects.
Participate in
Participate in relevant internal discussions and guiding project teams.
Participate in the Budget and Standard Cost Setting Yearly Process.
Participate in the division's management committees.
Perform
Perform cost-effectiveness analyses.
Perform inventory analysis and calculate monthly inventory reserves.
Perform monthly analysis of KPIs and business trends to measure overall financial performance.
Perform other job-related duties as required.
Plan
Plan and execute the finance portion of cross functional projects.
Prepare
Prepare all financial reporting packages including Waterfall analysis.
Prepare & analyze business forecast and analysis.
Prepare & analyze group reporting information.
Prepare and support the tax accounting and formal tax filings for 2 legal entities.
Prepare estimation accruals (allowance for bad debts, bonus accruals, revenues accruals).
Prepare functional specifications, business processes and recommendations.
Prepare monthly forecasts and annual budget preparation.
Prepare required financial forecasts, cash flow and investment reports.
Produce
Produce detailed sales forecasts including tracking the sales funnel with the Commercial team.
Promote
Promote open, constructive and collaborative relationships at all levels.
Provide
Provide ad hoc analytical support to influence decision making with financial perspective.
Provide cost estimates and cost-saving recommendations for the incident.
Provide finance and accounting knowledge and expertise.
Provide financial modeling, analysis, and recommendations to drive the business forward.
Provide Higher Education and / or Public Sector thought leadership and expertise.
Provide leadership and direction through the life of Transformation Programs.
Provide revenue recognition guidance as per US-GAAP for major deals.
Provide strategic and tactical support for quarterly and annual budgeting and forecasting.
Purchase
Purchase Leave - purchase additional annual leave at the beginning of each calendar year.
Review
Review and evaluate controls to improve operating efficiency.
Review and respond promptly to ad-hoc requests for information and analysis.
Review monthly results prepared by an external accountant.
Set
Set out long term pricing strategy.
Support
Support Cost Control, Statutory and other projects.
Support governance of the agreed design throughout the lifecycle of build and implementation.
Support initiatives and IT projects to improve data analytics, forecast accuracy and reporting.
Support management in making informed decisions based on these insights.
Support national and international business development opportunities.
Support PM by preparing reports to assist in the management of projects.
Support site's long range financial planning initiatives.
Support staff welfare to include competency assessments and performance management.
Support tax equity and debt fundraising with strategic negotiations and coordinating diligence.
Support the completion of the statutory audit.
Support the Head of Finance across strategic projects and initiatives on an ad hoc basis.
Support the Project Finance Manager to create and maintain monthly consolidated dashboard for ARV.
Support the team members in their day to day tasks.
Take
Take initiatives to drive consistencies, influence best practices with rest of the team.
Translate
Translate information into valuable insights and actionable recommendations.
Understand
Understand and ensure compliance with rules and regulations.
Understand construction accounting, % of project work / substantial completion and lien process.
Understand key efficiency & productivity metrics and benchmark vs best-in-class levels.
Update
Update the financial reports of the different project envelopes.
Validate
Validate and defend budgets, assumptions, and pro-forma analysis.
Welcome
Welcome effective dialogue and productive disagreement with minimal tension.
Work with
Work closely with board members for improvement and follow-up on action plans.
Work closely with department leaders to develop financial forecasts.
Work with legal and other relative department to ensure proper and adequate representation.
Work with Maintenance for assist in inventory records for equipment and parts supplies.
Work with our outside accountants and provide oversight of audit.
Work with project managers, estimator and site staff.
Work with tax and treasury to repatriate cash in a safe and efficient manner.
Most In-demand Hard Skills
The following list describes the most required technical skills of a Finance Lead:
CPA
SAP
Management
MS Word
MS Access
Economics
Most In-demand Soft Skills
The following list describes the most required soft skills of a Finance Lead:
Written and oral communication skills
Analytical ability
Interpersonal skills
Problem-solving attitude
Leadership
Attention to detail
Team player
Autonomous
Self-starter
Organizational capacity
Collaborative
Curious
Presentation
Conceptual thinking
