Current conditions of the economic relations development and other non-economic factors (for example, COVID_19) are forcing the management staff of the company to constantly update the organizational structure of the company in order to ensure flexibility and efficiency.
However, whatever structure is set to resist changes, financial top managers play a unique and important role in managing the financial sector of a company, as well as in managing the entire company. The importance of this role in itself is due to the growing role of financial relations and financial instruments in all aspects of the company.
Financial top managers of a company have primary responsibility for the planning, implementing, managing and running of all the finance activities of a company.
In addition to the above, the responsibilities of financial top managers include budgeting, forecasting, negotiation, etc.
Financial top managers are expected to facilitate organizational accountability and transparency, while providing strategic leadership. They do so by helping an organization focus on creating and maintaining sustainable value for shareholders and other stakeholders, which involves more than simply maximizing revenues and minimizing costs.
As a senior manager, the financial top manager’s primary responsibility is to provide shared leadership and vision to the company, its employees, and other key stakeholders.
General functions of financial top managers are:
And finally according to the financial director of the Pakistani company Siemens, Dr. Murtaza Abbas “CFOs have to position themselves as primary drivers of corporate strategy along with CEOs. They have to work as a strategist rather than a tactician to ensure the financial health and sustainability of their organizations and, most importantly, to ensure that shareholder expectations are met.”
Relevant specialists of our company are always on the side of our partners in order to improve, make financial management, control, strategic development and implementation more flexible and efficient, choose effective ways of economic development and achieve the set goals.
Ofelya Baghdasaryan, Financial Analyst in Prima Finance LLC