What does a Vice President of Finance do?
Finance managers analyze every day financial activities and provide advice and guidance to upper management on future financial plans. They are the root of all major business decisions and their role is crucial to the success of any organization. Finance managers may be employed in many different environments, including both public and private sector organizations. They also operate in a variety of industries, such as banking, finance, healthcare, and insurance.
Typical duties include reviewing financial reports, monitoring accounts, and preparing financial forecasts. Finance managers also investigate ways to improve profitability and analyze markets for business opportunities, such as expansion, mergers, and acquisitions. The position of finance manager usually requires an advanced degree in accounting, business, economics, or finance, as well as several years of experience in a finance role.
- Monitor the day-to-day financial operations within the company (payroll, invoicing, and other transactions)
- Prepare monthly and quarterly management reporting
- Participate in strategic data analysis, research, and modeling for senior company leadership
- Support project analysis, validation of plans, and ad-hoc requests
- Manage the company's financial accounting, monitoring, and reporting systems
- Ensure compliance with accounting policies and regulatory requirements
- Bachelor's degree in Finance or Accounting; CPA a plus
- 5-8 years of experience in accounting and/or financial analysis
- Ability to synthesize large quantities of complex data into actionable information
- Ability to work and effectively communicate with senior-level business partners
- Excellent business judgment, analytical, and decision-making skills
- Knowledge of financial reporting and data mining tools such as SQL, Access, etc.
- Strong demonstrated use of Excel, Word, and PowerPoint
Vice President of Finance Salaries near Canada
Average Base Pay
Vice President of Finance Career Path
Learn how to become a Vice President of Finance, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Vice President of Finance Insights
Wildpack Beverages“Carrer Growth Opportunity Flexible Fun Challenging in a fun way Great and super smart people work here only.”
Northwestern Mutual“This industry is highly relational and there are good practitioners within the BD who do solid work by their clients.”
EF Education First“Work pace is fast and opportunites for career development is excellent if you are prroared to relocate.”
LGC“A growing and successful business which can provide you with interesting and varied career opportunities.”
Mejuri“This is not a surprised based on the other finance reviews but the leadership within the finance department is so toxic and here's why:”
BBOXX“I was able to have autonomy over my work and drive forward the projects I felt were important.”
Moog Inc.“Ability to have a challenging and rewarding career & growth while exercising autonomy and balancing work and life.”
Amazon“Initial training (APPT training) was the first week and we had to work in the fulfillment centers.”
Frequently asked questions about the role and responsibilities of finance managers
A finance manager monitors and manages a company's finances. They work extensively with financial software to produce activity reports, financial statements, forecasts, and other information. Utilizing this information, finance managers may collaborate with or direct other employees regarding ways to reduce costs and handle financial decisions.
Becoming a finance manager is a good career step for people who enjoy a fast-paced work environment, mathematical challenges, and following dynamic, ever-changing financial trends. Globalization and risk management are particularly keen areas for growth, creating ample opportunities for those interested in these specializations.
Finance managers typically receive very high salaries, with an average earning of $157,553 a year. Seniority is the primary factor influencing one's pay in this career. Proven success as a financial analyst or accountant can help increase your starting salary as a finance manager.
Being a finance manager can be a hard job if you don't have the proper training or skills, as it's crucial to produce accurate reports, ensure legal compliance, and make shrewd recommendations to prevent major financial difficulties. Working as a finance manager, you must be able to think both analytically and creatively.
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How much of a pay cut would you entertain to stay WFH, or work at an office 15 minutes away from your house? I moved companies during COVID, was told verbally my position would be remote, now starting to get pressure to go in the office and have a feeling it’s going to be mandatory multiple days a week, it’s a 50 minute commute. My prior company wants me back, is local and I really enjoyed working there. I don’t know how much they’d offer but I know they can’t match my bonus.