Finance Management

What does this skill involve?

Activities may include but are not limited to:

Financial management, control, and stewardship of assets and resources
Budgeting, forecasting, and accounting for financial resources
Defining charging models for the provision of services
Applying accounting standards and policies and ensuring compliance with governance, legal and regulatory requirements

Skill levels

Records personal expenses for reimbursement. Is responsible for ensuring money is accounted for within cash sales.

Keeps accurate track of business expenses, invoices and income to agreed standards. Reconciles records against bank accounts.

Monitors and maintains financial records to agreed requirements for compliance and audit. Assists with identifying and calculating process, service, project and component costs for financial planning and budgeting. Collates required financial data and reports for analysis and to facilitate decision-making.

Supports senior managers by developing financial plans and forecasts. Monitors and manages expenditure and examines areas where budgets and expenditure exceed agreed tolerances. Analyses actual expenditure, examines variances, and advises on options in the use of available budget.

Develops policies for financial management. Promotes commercial awareness and drives adoption of and adherence to financial management policies and standards. Sets financial budgets and targets. Leads activities to analyse financial performance and instigates required improvements in the use of available budget to meet real needs.

Ensures financial management meets policy and regulatory standards.