Finance & Administration Manager

The manager of finance and administration is responsible for the financial operations of the business and reporting, and also performs administrative duties like communication with clients and participating in the making of personnel decision-making. They are responsible for the administration of various areas of financial operations of a company, such as budgeting, human resources/payroll, as well as business plan. They make sure that the records of all the financial departments are correct.

The manager of finance and administration supervises the financial reporting processes, directing the financial department to ensure that the official financial statements for the month and annually conform to generally accepted accounting principles. They also supervise the cash flow and accounts and internal audits and collaborate in a partnership with auditors from outside. The administrative tasks they carry out include making sure that the department's human resources is in compliance with the guidelines and standards, training staff members who are new or inexperienced and coordinating with consultants and vendors as necessary. Managers of finance and administration are employed during working hours in offices, however sometimes, overtime or travel might be necessary.

The requirements for a finance and administration manager usually require a bachelor's degree in finance, business accounting, or a related area. Professional certifications like CPA (Certified Public Accountant) are typically required, along with at minimum seven years of professional experience and at minimum five years of managerial experience in operations and finance. Candidates who are successful have excellent communication abilities and have a solid understanding of accounting, financial analysis, and auditing.

As a Finance & Administration Manager with 0-3 years of experience in the United Kingdom, your main responsibilities include:

• Managing day-to-day financial operations, such as accounts payable and receivable, payroll processing, and budgeting, to ensure efficient financial management. Handle financial transactions and maintain accurate records while adhering to budgetary constraints.
• Assisting in financial analysis and reporting, preparing financial statements, and analyzing financial data to support decision-making processes. Utilize financial data to generate reports that aid in understanding the organization's financial performance and guide strategic planning.
• Overseeing administrative tasks, including office management, procurement, and vendor management, to maintain a smooth workflow within the organization. Ensure the efficient functioning of administrative processes and coordinate with vendors and suppliers to meet organizational needs.
• Supporting compliance with legal and regulatory requirements, including tax filings, audits, and regulatory reporting, to ensure adherence to financial and administrative guidelines.

For a Finance & Administration Manager job role, the following qualifications are required:

• Extensive knowledge of financial management and accounting principles to oversee budgeting, forecasting, and financial reporting processes accurately.
• Strong leadership and managerial skills to effectively manage and motivate a team of finance and administrative professionals, ensuring the smooth operation of daily activities.
• Excellent problem-solving abilities to identify and address operational inefficiencies, implementing strategies to optimize financial performance and improve overall administrative processes.
• Exceptional communication and interpersonal skills to collaborate with various stakeholders, including executives, department heads, and external partners, fostering effective relationships and driving successful outcomes.

The role of a Finance & Administration Manager is crucial for efficient operations and financial management. For individuals with 0-3 years of experience in the United Kingdom, here are following alternative roles worth considering:

• Junior Financial Analyst: A position that involves analyzing financial data, preparing reports, and assisting senior analysts in making strategic recommendations.
• Payroll Administrator: A role focused on managing payroll processes, ensuring accurate and timely payment to employees, and maintaining payroll records.
• Accounts Receivable Clerk: This position involves overseeing accounts receivable processes, managing customer invoices and payments, and resolving payment discrepancies.
• Budget Analyst: A role that entails analyzing financial data, preparing budgets, monitoring expenses, and providing recommendations to optimize resource allocation.

The Finance & Administration Manager role in the United Kingdom is expected to experience strong growth in the market. Based on a 10-year analysis, the job role has shown consistent demand, with a significant increase in employment opportunities anticipated in the future. According to recent data from Google, this position is projected to see a steady rise in job openings and a positive outlook in terms of career growth. With the increasing complexity of financial regulations and the importance of efficient administrative processes, the Finance & Administration Manager role is expected to play a crucial role in businesses across various industries.