Some people know that financial planning and analysis is important for companies to run smoothly and for them to avoid financial snags in their operation. These financial plans and the analysis of these plans are often spearheaded by the person known as the manager of financial planning and analysis. A manager of financial planning and analysis has quite a number of responsibilities and these responsibilities are the reasons why a person in this position has to be very capable of doing the job well.
The person that is placed in this position reports to the CFO or Chief Financial Officer of the company and he is tasked to do a few things that pertain to the company’s finances. One of the responsibilities of a manager of financial planning and analysis is to monitor the budgeting process of the company.
Along with this comes the responsibility of forecasting certain financial concerns that the company may have, like the revenues and expenditures for the coming year. They are also given the task of creating reports and analysis of the previous year’s budget and expenditures as well as the possible losses they may have incurred and what may have caused them.
Since the manager of financial planning and analysis is answerable to the CFO, he basically follows the dictates of his superior. He may have to do an analysis of business trends that may affect the company as well as an analysis of other budgetary concerns within the same company. He is also taxed with updating and teaching finance officers underneath him by providing training and teaching these people techniques that he may know when it comes to financial concerns.
Not everybody is qualified to become a manager of financial planning and analysis and companies who require a person to fill this position often ask that certain prerequisites be met before a person is even considered for such an important position. Among the qualifications that a person must have to be able to become a manager of financial planning and analysis for a company is a Bachelor’s Degree in Finance or in Accounting, and he must also have experience in a similar capacity for at least a few years. He must have sufficient knowledge of advanced accounting techniques as well as strong leadership qualities, management skills and analytic thinking.
These are but a few of the qualities companies look for in a manager of financial planning and analysis. Knowledge of some analysis techniques and financial concepts along with strong computer knowledge can also help a person in this position handle everything he needs to accomplish in this job.