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Gain Multiple Skills For Handling Senior Management Finance

By Expert Author: Rahul Sinha

No organisation can run successfully without an efficient and prudent senior management handling the finance department. In these competitive times when the world is besieged by economic slowdown only those organisation can sustain their growth and profitability which have expert financial senior managers.

A huge demand has been created for competent professionals possessing financial expertise. It is imperative to have a deep rooted interest and strong understanding of financial matters in order to climb the success ladder. A strong financial management strategy is the key factor which can escalate growth and enhance profitability of an organization.

Professionals who have earned MBA degree or have embarked on a professional programme in business management get great career opportunity to move ahead and possibly become a finance head in an organization.

The senior level Finance executives have in-depth knowledge of various streams of financial such as Risk management, making new financial policies, budget making, enhance profit margins, corporate social responsibility etc. Keeping in view the external factors the senior finance managers have to make long-term financial decisions. Hence they need to hone their analytical skills so that they can understand the situations correctly and lay down accurate financial directives for their company.

Armed with a management qualification the finance professionals do extremely well for themselves both personally and professionally. Risk Management is an important task of a senior finance executive especially in the recent turbulent economic times which many multinational corporations as well as midsized organizations have to face. The current operating environment requires systematic and more integrated risk management approach. Preparing accurate financial budget and managing finances of the company is another important task of the senior executives.

Responsibilities of senior management finance

• To design efficient finance policies, and to contribute to the development of robust financial structure.
• Efficient Risk management.
• To focus on maintaining and increasing profit margins of the company
• Budget management

It is observed that financial expertise only does not suffice for senior management Finance. Lot of senior finance professionals focus only on the financial details of procedures. They may have excellent financial know how but they need effective communication skills when presenting their financial viewpoint to board of directors or maybe overseas directors. All highly effective senior management finance executives need to be equipped with superb communication skills besides their financial acumen. Today, when important decisions related to finance have to be made, the skill to interact with internal and external stakeholders is also one of the most significant competencies.

The senior management Finance plays a crucial role in the success saga of any small, midsized or corporate business organisation.

Shine Kapoor writes articles on behalf of HeadHonchos.com, India’s premier senior jobs portal india. HeadHonchos provides senior management Finance as well as a range of specialized services that facilitate senior job search.

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