Responsible for preparing financial reports and maintaining cash controls, finance officers are hired in several environments.
In fact, they are hired in almost every organization since the need for maintaining finances is vital in all companies.
Finance officers are also involved in payroll preparations and personnel administration. Essentially, they are an essential part of the finance department within a company.
They analyze budget requirements and budgets and design and implement policies for smooth administration of finance and accounting procedures.
Also, they provide counseling to senior management to aid them in decision-making regarding finances.
Another critical aspect of a finance officer’s job is to assess the financial benefits of business plans and transactions and to provide insight into how these can be effectively managed.
Typically, finance officers oversee the management of all financial reporting and purchasing activities.
Related: Finance Manager Resume
Want to know more about what finance officers do? Read on!
Finance Officer Job Description and Duties for Resume
• Assist in planning and implementing core financial policies and procedures
• Handle the establishment and control of cash and credit
• Establish the general ledger under accounting professionals
• Handle reconciliation activities and chart out any discrepancies
• Make sure that differences are investigated and managed properly
• Prepare bank statements and ensure that each entry is reconciled
• Perform data entry activities in order to enter all income and expenditure information in accounting databases
• Assist in preparing monthly income and expenditure statements
• Handle budget management and comparison activities
• Process banking activities such as deposits and daybooks
• Administer petty cash and ensure that all petty cash reconciliations are made at the end of each day
• Process payrolls and manage salary packaging records
• Handle controls of payable invoices and issue receipts of received monies
• Ensure that all financial instruments are secured properly
• Provide support to personnel funding submissions
• Administer tax accounts along with handling returns
• Prepare and review legal and financial agreements
• Ensure that there is sufficient cash control to meet the company’s needs
• Propose cost-effective initiatives for company projects
• Provide support to accounting personnel in designing, implementing, and calculating salary incentives and commissions
• Oversee insurance plans for the company and propose needed changes or add-ons
• Handle inventory of fixed assets and ensure that all are per the directives provided by the company
• Oversee the administration of accounts receivable and payable and put in place a disaster recovery plan