Determine the Internal Job Structure of a Finance Manager's job vacancy. 

 

Answer:

INTRODUCTION

An internal job structure is a company's or an organization's overall hierarchy that it uses to manage the reporting structure for each of the positions within the company. An organization uses its job structure to enhance easy addition of new positions, provide a flexible and ready means for growth and to provide guidance to its employees by laying out the official reporting relationships that govern the organization's workflow.

A finance manager is an individual who is in charge of controlling the processes of providing funds for business activities, making purchases, producing financial reports and formulating strategies for investment in an organization. A finance manager helps the organization make wise decisions when dealing with capital and investing and a finance manager's job vacancy has an internal job structure which includes the roles of the finance manager, the skills and qualifications required and the salary expectations of the job applicant. 

ROLES OF A FINANCE MANAGER

A finance manager in an organization has duties that he or she is supposed to perform which ensure that the organization's finance department runs smoothly and these duties include:

• Monitoring the day to day financial operations within the organization like invoicing, payroll and other transactions. The manager of the finance department should ensure that all transactions that are made within and outside the organization that involve the organization run smoothly without any issues, and if any issues arise then the finance manager should look for a way to resolve them to prevent further problems and damages.
• Tracking the organization's financial status and performance, which helps to identify potential areas that need improvement. The finance manager should know the status of the organizations finances and how the organization is performing in terms of generating income and the operating expenses in the organization. If any areas need improvement then the finance manager will formulate a strategy to make the improvements.
• Oversee the working of the finance department employees like the accountants and the financial assistants. Since the finance manager is the head of the financing department, then he or she should oversee how all finance department employees work and if any of the employees is not doing their work well. The finance manager should also evaluate the performance of each department employee and award those who have a high performance.
• Look for ways to minimize the financial risk of the organization. Since the financial manager is the one who monitors the financial activities of the organization then he should come up with a way to ensure that the organization's financial risk, which is brought about by changes to the market interest rates and the possibility of default by sectors or large corporations, is at a minimum.
• Research and analyze financial reports and market trends. The finance manager should always keep up with the market trends and the status of the financial reports, in order to realize the sectors of the organization that are performing well and those that need improvement. Keeping up with market trends also helps a finance manager know what other organizations and businesses are doing to stay competitive in the market.
• Seek outside services for auditing, banking, investments, tax preparation and other financial needs in the company. The finance manager is in charge of seeking the services of other organizations that deal with financial needs of the organization like audits, banking, investing and filing taxes. Since these are services that involve the financing department then the finance manager is the one who should ensure they are done.
• Present financial reports to board members, stakeholders, executives, and clients in formal meetings. The finance manager should create financial reports monthly and annually and then present those reports to the organization's board members, executives, stakeholders and formal meetings. This creates transparency and honesty between the organization and its stakeholders which helps improve service provision.

SKILLS AND QUALIFICATIONS OF A FINANCE MANAGER

A finance manager should possess some skills and qualifications in order to apply for a job vacancy because these skills help them get employed and be effective in the job and they include:

• A degree in accounting, economics, business or any other required and related field
• Several years of experience is a financing role
• Good leadership skills
• Integrity and honesty
• Good written ad verbal communication and public speaking skills
• A great understanding of business principles and practices 
• Superior organizational, planning, research, analytical, critical thinking and problem solving skills
• Employee management skills
• Computer literacy

CONCLUSION

The internal job structure of a finance manager's job vacancy also includes the location of the organization with the vacancy and the salary expectations of the job vacancy. These together with the roles of the finance manager and the skills and qualifications required for an application for the job help complete the job structure and get applications that are qualified.

REFERENCES:

Ekpo, N. B., Etukafia, N., & Udofot, P. O. (2017). Finance manager and the finance function in business sustainability. International Journal of Business, Marketing and Management, 2(1), 31-38.

KOUNTUR, R., & HUO, Y. (2013). The qualifications of accounting profession as required by employer. Management (IJFM), 2(4), 7-14.