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Job description of the financial director: what is included in his rights and obligations

The job description of the financial director is a brief digression into his future work at the enterprise. In the future, it is used to evaluate the performance of an employee, make personnel decisions, and develop remuneration systems. It can be called a direct guide to action, a guideline for professional growth in a new position. The CFO can participate in the drafting of the instructions to influence the conditions, organization and criteria for evaluating their work. Let's take a closer look at what a job description is drawn up for and what does it include?

Who reports to the financial director and who reports to him?

The management model of an enterprise is determined by its organizational structure. The choice of a specific model depends on the specifics of the company's activities, its size, as well as the vision of the business owners.

There are models in which the financial director is on the same or different levels with the chief accountant. In small companies, the financial director most often single-handedly manages both the financial service and the chief accountant.

Variants of the management model of the company

Often the chief accountant and findir are subordinate to the General and Executive Director. And it happens that the immediate supervisor for the CFO is the General, and for the chief accountant - the executive director.

There are many different models, but in any case, the CFO acts as deputy CEO for economic and financial issues. He manages all services that are included in the financial management process.

The Financial Director is responsible for:

• Financial department
• Accounting service
• Traffic control service DS
• Management accounting service
• Planning and Economic Department
• Internal Audit Service

Sometimes the CFO is also assigned to lead the IT department. This is typical for companies that are engaged in trade or production. In such organizations, the information technology department primarily serves the finance function. Read more about how they can effectively interact in the material CFO as an IT business integrator.

What is included in the job description of a financial director

The filling of the job description of the financial director depends on the specifics of the enterprise, its size and organizational structure. If it is formulated clearly and in accordance with the goals of the company, the continuity of the work of financial departments and the continuity of duties is ensured.

The CFO job description must include 4 blocks:

1. General provisions
2. Job Responsibilities
3. Rights
4. Responsibility

The main feature of the CFO job description is an extensive list of its powers.

The working conditions of the CFO should be spelled out as detailed as possible, because he is responsible for the financial well-being of the entire company. If he is not fully aware of his functions and responsibilities, the work of many departments involved in financial activities may be disrupted. The job description allows you to bring the new findir up to date and help him quickly deal with new responsibilities.

To learn more about the structure and approximate content of the document, download a free sample CFO job description.

General provisions of the job description

The general provisions spell out the procedure for holding the post of financial director, his place in the organization and qualification requirements for the candidate.

Important! An applicant for the position of CFO must have a relevant higher education and work experience in the field of financial management for at least 5 years.

The list of knowledge required for CFO is compiled taking into account the specifics and organizational structure of the enterprise. It will be useful to applicants for the position of financial director who are striving for new knowledge and professional growth, but do not know in which direction to develop.

Also, a separate paragraph prescribes according to which official documents the financial director should act:

• state legislative acts;
• charter and other normative acts of the enterprise;
• instructions and orders of higher management;
• Actually, the job description itself.

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Key Responsibilities of the Financial Director

Getting to work, the new financial director should study the job description more closely, especially the “Responsibilities” block. From it you can learn more about the current state of affairs in the company and the requirements of management for the CFO.

Items on the findir's job list may vary depending on the size of the company and the way in which the business is conducted. The more detailed they are, the easier it will be for him to enter the position, effectively build a work plan and start acting.

Among the responsibilities that are found in almost every job description, we can distinguish:

• determination of the strategy and policy for the use of company resources
• financial and management reporting
• cost optimization and fundraising
• setting up management accounting and internal audit systems
• optimization of operations
• financial risk management

In a functional sense, the CFO should not influence or be responsible for the consequences of the activities of employees of related departments. But if the results of their work directly affect the financial performance of the company, then they may be administratively subordinate to the findir and are required to follow his instructions.

Rights of the financial director

The CFO is a significant figure in the company, responsible for attracting and effectively using finances, compliance with the general policy of business efficiency. A modern CFO should be a therapist who can make a complete diagnosis and suggest ways to improve the company. Ideally, not a single important investment, marketing, technological or personnel decision should be made without it.

Therefore, the powers of the financial director in the company are limited to a minimum. Like any other worker, a findir has the right to normal working conditions, social guarantees and other items stipulated by labor legislation.

What shouldn't a CFO do?

The CFO should not get too caught up in the work of other departments. Most of its functions should be carried out at the strategic level. What does this mean? Let's look at the example of the risk management function.

If there is a risk of losing the company's image, the financial director does not independently strengthen it. He should entrust the task of improving the reputation to PR managers

The CFO is not responsible for the performance of departments that he does not manage.

When it comes to HR management, it's easy to overstep the line and get caught up in taking on someone else's role. If a findir feels a shortage of effective employees, he should not be in charge of recruiting them himself. The CFO can assign the HR department the task of finding new employees and developing a system to increase staff motivation, and then monitor its implementation.

In order to have enough time to make effective business decisions, the CFO should not be immersed in operational work. To do this, he has subordinate employees of the financial and related departments. They can delegate a number of responsibilities. The main thing is to regularly coordinate, monitor and evaluate work.

Summary

They help only those who are ready to accept this help. A financial director whose activity is set in a strict framework of restrictions will not be able to become a full-fledged engine of progress, contribute to the adoption of effective strategic decisions and coordinate the joint work of departments.

The first 3 modules are free to appreciate the convenience of distance learning!

We bring to your attention a typical example of a job description for a financial director, a sample of 2019/2020. A person with a higher professional (economic) education and at least 5 years of experience in financial and accounting work, including in managerial positions, can be appointed to this position. Do not forget, each instruction of the financial director is issued on hand against receipt.

It provides typical information about the knowledge that a financial director should have. About duties, rights and responsibilities.

This material is included in the huge library of our site, which is updated daily.

1. General Provisions

1. The financial director belongs to the category of managers.

2. A person who has:

– education higher professional (economic) education and

- at least 5 years of experience in financial and accounting work, including in managerial positions.

3. The financial director is hired and dismissed by the director of the organization.

4. The CFO must know:

- legislative and other regulatory legal acts regulating the financial, economic and production and economic activities of the organization;

— regulatory and methodological documents on the organization of accounting and financial management;

— fundamentals of civil law;

— financial, tax and economic legislation;

— codes of ethics for professional accountants and corporate governance;

- profile, specialization and structure of the organization, prospects for its development;

— methods for analyzing and evaluating the effectiveness of the organization's financial activities, analyzing financial markets, calculating and minimizing financial risks;

– the procedure for concluding and executing economic and financial contracts;

— organization of financial work, budgeting;

— methods and procedures for planning financial indicators;

- the procedure for financing from the state budget, long-term and short-term lending, attracting investments and borrowed funds, using own funds, issuing and acquiring securities, distributing financial resources, charging taxes, conducting audits; accounting, tax, statistical and management accounting;

— basics of production technology;

— economics, organization of production, labor and management;

– modern reference and information systems in the field of accounting and financial management; rules for the storage of financial documents and information protection;

– advanced domestic and foreign experience in organizing accounting and financial management;

— legislation on labor and labor protection of the Russian Federation;

— rules and norms of labor protection, safety measures, industrial sanitation and fire protection

5. In his activities, the Financial Director is guided by:

- the legislation of the Russian Federation,

- the charter of the organization,

- orders and orders of the director of the organization,

- this job description,

- The internal labor regulations of the organization.

6. The financial director reports directly to the director of the organization, as well as _______ (specify position)

7. During the absence of the financial director (business trip, vacation, illness, etc.), his duties are performed by a person appointed by the director of the organization in the prescribed manner, who acquires the appropriate rights, duties and is responsible for the performance of the duties assigned to him.

2. Responsibilities of the financial director

CFO:

1. Determines the financial policy of the organization, develops and implements measures to ensure its financial stability.

2. Leads the work on financial management based on the strategic goals and prospects for the development of the organization, to determine sources of funding, taking into account market conditions.

3. Performs analysis and assessment of financial risks, develops measures to minimize them, ensures control over compliance with financial discipline, timely and complete fulfillment of contractual obligations and receipt of income, the procedure for processing financial and business transactions with suppliers, customers, credit institutions, as well as operations of foreign economic activity.

4. Leads the work on the formation of the tax policy of the organization, tax planning and optimization of taxation, improving accounting policies, preparing and conducting the issue of securities, analyzing and evaluating the investment attractiveness of projects and the feasibility of investing, regulating the ratio of equity and borrowed capital.

5. Carries out interaction with credit institutions on the placement of temporarily free funds, transactions with securities, obtaining loans.

6. Manages the preparation of long-term and current financial plans and budgets of funds, brings the indicators of the approved system of budgets and the tasks, limits and standards arising from it to the departments of the organization, ensures control over their implementation.

7. Participates in the development of draft plans for the sale of products (works, services), costs for the production and sale of products (works, services), prepares proposals for increasing the profitability of production, reducing production and distribution costs.

8. Carries out control over the state, movement and targeted use of financial resources, the results of financial and economic activities, and the fulfillment of tax obligations.

9. Takes measures to ensure the solvency and increase the profit of the organization, the effectiveness of financial and investment projects, the rational structure of assets.

10. Organizes the development of an information system for financial management in accordance with the requirements of accounting, tax, statistical and management accounting, control over the reliability and confidentiality of information.

11. Ensures that the necessary financial information is provided to internal and external users.

12. Organizes work to analyze and evaluate the financial performance of the organization and develop measures to improve the efficiency of financial management, as well as to conduct internal audit, to consider mutual claims arising in the course of financial and economic activities, take measures to resolve them in accordance with current legislation.

13. Manages the activities of the financial divisions of the organization, organizes work to improve the skills of employees, provides methodological assistance to employees of the organization on financial issues.

14. Complies with the Internal Labor Regulations and other local regulations of the organization, internal rules and norms of labor protection, safety, industrial sanitation and fire protection.

15. Ensures cleanliness and order in his workplace.

16. Fulfills, within the framework of the employment contract, the orders of the employees to whom he is subordinate in accordance with this instruction.

3. Rights of the financial director

The financial director has the right:

1. Submit proposals for consideration by the director of the organization:

- to improve the work related to the duties provided for in this instruction,

- on the promotion of distinguished employees subordinate to him,

- on bringing to material and disciplinary responsibility of employees subordinate to him who violated production and labor discipline.

2. Request from structural divisions and employees of the organization the information necessary for him to perform his duties.

3. Get acquainted with the documents that define his rights and obligations in his position, the criteria for assessing the quality of performance of official duties.

4. Get acquainted with the draft decisions of the organization's management regarding its activities.

5. Require the management of the organization to provide assistance, including the provision of organizational and technical conditions and execution of the established documents necessary for the performance of official duties.

6. Other rights established by the current labor legislation.

4. Responsibility of the financial director

The Financial Director is responsible for the following:

1. For improper performance or non-performance of their official duties provided for by this job description - within the limits established by the labor legislation of the Russian Federation.

2. For offenses committed in the course of their activities - within the limits established by the current administrative, criminal and civil legislation of the Russian Federation.

3. For causing material damage to the organization - within the limits established by the current labor and civil legislation of the Russian Federation.

Job description of the financial director - sample 2019/2020. The duties of the financial director, the rights of the financial director, the responsibility of the financial director.

CFO- one of the top executives of the company, responsible for managing the financial flows of the business, for financial planning and reporting. Determines the financial policy of the organization, develops and implements measures to ensure its financial stability.

Manages financial management based on the strategic goals and prospects for the development of the organization, to identify sources of funding, taking into account market conditions.

The Financial Director reports directly to the CEO.

Responsibilities of the financial director

Key Responsibilities of the Financial Director:

Management of financial flows of the enterprise;

Cost control and ensuring efficient use of resources;

Control of income and providing the company with finances (including credit);

Tax planning;

Formation and strategic planning of the financial policy of the company;

Ensuring economic security

Analysis and reduction of possible financial risks;

Control of the conduct of the enterprise in accordance with applicable law;

Conducting financial and economic analysis of the company's transactions;

Preparation of financial statements;

Managing a team of financial and accounting services.

Rights of the financial director

The financial director has the right:

represent the interests of the enterprise in relations with credit institutions, insurance and investment companies, tax authorities, other bodies and organizations on financial matters;

establish duties for subordinate employees;

request from the structural divisions of the enterprise information and documents necessary for the performance of his duties;

submit to the head of the enterprise:

representation:

On the appointment, transfer and dismissal of subordinate employees;

On the encouragement of distinguished employees.

proposals to bring to disciplinary and financial liability violators of industrial, labor and financial discipline;

make proposals to the head of the enterprise on bringing officials to material and disciplinary liability based on the results of financial audits;

participate in the preparation of draft orders, instructions, instructions, as well as estimates, contracts and other documents related to the solution of financial issues;

interact with the heads of all structural divisions on the financial and economic activities of the enterprise;

give instructions to the heads of the structural divisions of the enterprise on the proper organization and conduct of financial work;

sign financial documents;

endorse all documents related to the financial and economic activities of the enterprise (plans, forecast balances, reports, etc.);

independently conduct correspondence with structural divisions of the enterprise, as well as with third-party organizations, tax authorities, state authorities and local self-government on financial issues;

get acquainted with the documents defining his rights and obligations in his position, criteria for assessing the quality of performance of official duties;

submit proposals for the management to improve the work related to the responsibilities provided for in this instruction;

require the management of the enterprise to ensure the organizational and technical conditions and execution of the established documents necessary for the performance of official duties.

Responsibility of the financial director

The Financial Director is responsible for:

for improper performance or non-performance of their official duties provided for by this job description - within the limits established by the current labor legislation of the Russian Federation;

for offenses committed in the course of their activities - within the limits established by the current administrative, criminal and civil legislation of the Russian Federation;

for causing material damage to the enterprise - within the limits established by the current labor legislation of the Russian Federation.

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The responsibilities of a CFO are constantly changing. More recently, CEOs have been satisfied with CFOs who can work with analysts, exercise financial control, interact with the board of directors, and are highly qualified. But today the requirements for financial directors are completely different.

The Financial Director is...

The modern financial director is the second person of the company after the general. What is the job of a financial director? So, the chief financier of the company:

1. Engaged in strategic planning.
2. Manages information systems.
3. Controls costs and reporting.
4. Participates in tax planning and optimizes taxation.
5. Establishes internal control in the company.
6. Identifies key employees, draws up a plan for their replacement.
7. Performs a public function, that is, speaks on behalf of the company, gives interviews and comments to the media.

The duties facing the head of finance vary by company. But there is also a common functionality for all financiers. So let's talk about what a CFO does.

Increases the shareholder value of the business

The main task of the CFO is to implement a strategy that increases profitability for shareholders. This also includes a wide range of tactical tasks for its implementation, designed to cut costs .

Controls risks

This is an extensive area of ​​responsibility of the financial manager. Particular attention should be paid to the following risks.

Loss of key business partners. If one of the main suppliers or customers refuses to cooperate, how will the company be affected? The CFO can mitigate this risk by seeking alternative sources of supply and expanding sales to a wider range of customers.

Increasing interest rates on loans. If a company has a large amount of debt, the interest rates of which fluctuate with current market rates, then a sudden rise in interest rates can have a negative impact on it. This risk can be reduced by switching to fixed rate borrowing and refinancing at a lower rate whenever changes in interest rates allow. .

Currency risk. Investments or receivables may decrease in value as a result of falling foreign exchange rates. It is necessary to know the scope of the foreign trade or investment activity, to be aware of the size of potential losses and to use hedging methods if the risk is large enough to justify the cost of the hedge.

Read also:

What will help: understand where to grow. 255 out of 412 financial directors of Russian companies would like to change their position. See what your colleagues are up to.

Who benefits: CFOs who plan to change jobs and want to assess the state of the labor market.

Who benefits: CFOs who are looking for a new role in the company, professional development and career growth.

Change in commodity prices. Suppliers can raise prices, and prices for goods that the company produces, on the contrary, can decrease due to worsening sales conditions. In any case, the options for action include the use of long-term contracts with fixed prices, as well as the search for alternative materials (in terms of suppliers) or cost reduction for maintaining profitability if selling prices fall.

Unfavorable legislative changes. Changes to local, state, or federal laws can make it difficult for a company to operate, and even bring it to a halt. Therefore, it is the responsibility of the company's CFO to study legislation that may cause such changes, participate in lobbying activities aimed at preventing such a development of events, and prepare the company for likely changes. .

Breakdown of contracts. Contracts may include terms that are potentially harmful to the company, such as a commitment to order more parts than required, make long-term payments at excessive rates, refrain from competing in a particular industry, etc. The role of the CFO is to constantly monitor the content of all existing contracts and learning all new. He must inform management about these disadvantageous conditions, as well as limit their impact.

extraordinary circumstances. A company's infrastructure can be severely damaged by a variety of natural and man-made disasters, such as floods, lightning strikes, earthquakes, and wars. Findir must be aware of such possible events and have contingency plans in place that should be practiced regularly so that the organization has a means of rescue.

Staff rotation issues. Without the orderly promotion of trained and experienced personnel in all key positions, you may face the loss of key personnel. Therefore, it is necessary to have a working rotation planning system that identifies potential replacement personnel and candidates for subsequent promotion.

Loss of brand image. What if serious quality or image issues are negatively impacting a company's key product? The financial director can mitigate this risk by using operational management techniques. He should also develop a strategy for the company's response to critical situations in advance and emphasize the quality of the brand.

Product Development Mistakes. What if a product design flaw caused damage to the customer or caused the product to fail? Establish rapid response teams with a predetermined action plan to eliminate potential design flaws in a short time. There should also be a design quality control team whose analytical methods will reduce the likelihood of a defective product. The head of finance must also have a pre-arranged product recall program, and he must provide sufficient insurance to cover losses from possible problems.

Service ethics. It happens that employees commit sexual harassment, theft or other inappropriate misconduct. The task of the financial manager of the enterprise is to coordinate the system for monitoring the training and entry into office of new employees, which will reduce the risk of their misbehavior, which may lead to lawsuits against the company or direct damage.

Investment losses. Investing in too risky investment projects can lead to large investment losses. The responsibilities of the financial director of an organization include investment policy development , limiting investment options to those instruments that provide an acceptable combination of liquidity, moderate return and low risk of loss.

More on the topic:

What will help: in order not to lose sight of important tasks from your own functionality, replacing the head of the company, it is convenient to use the priority ranking tool - the Eisenhower matrix. Her example is presented in the material.

What will help: if the financial director has a working disagreement with the head of the company, this decision will tell you how to get out of such a difficult situation. It will help to understand the causes of conflicts and how to proceed further.

What will help: check your employment contract - make sure that the provisions of the document do not contradict all the conditions agreed upon at the stage of hiring, that its text is correct and does not contain any errors or typos. Such a check will not take much time, but it can save you from conflicts and misunderstandings in the future, and will allow you to protect your rights if necessary.

Links performance metrics to strategy

The head of finance usually inherits a company-wide scorecard that is based on past needs, not the requirements of the strategic course. It should remove those indicators that lead to actions that are not in line with the strategic direction; add new ones that encourage strategic initiatives; and, in addition, to link the system of individual assessment with the new system of indicators. This is a continuous work, as strategic shifts will constantly require the revision of the scorecard.

Improves the work of accounting and financial services

Although most of the items on this list relate to changes in the structure of the entire company, the CFO must create a continuous system for improving the work of these two functions - otherwise the heads of other departments will be less willing to listen to the opinion of a person who himself cannot put into practice what he stands for. To do this, you need to focus on the following key goals:

1. Improvement of personnel. All improvements start with frames. A manager can improve the educational level of staff through precisely targeted training, the exchange of experience between employees of different specialties, and the encouragement of intensive communication within the group. The modern approach to learning is online courses. At the Graduate School of Financial Director, the manager can choose the right course for each employee. If you need professional retraining, the program is suitable , where experts will get acquainted with practical recommendations of leading financial directors on the principles of budgeting, cost reduction methods, tax planning and company money management. Upon completion of training, they will receive a diploma of the established sample. If there is a need to expand the knowledge of Excel and 1C, for example, when the manager plans to automate certain processes - the program . After successfully completing this program, it will be possible to finalize 1C on your own, without involving expensive programmers. Employees will learn how to create non-standard 1C reports, correctly enter important management analytics into the database, and much more. Another nice bonus for a manager is a course on reporting visualization. If earlier you had to view dozens of reports, then after this course, the financial director will be able to receive one document and monitor all important indicators online, updating the report in one click. The CFO himself, if desired, can go through the program - This is an individual program, which is based on the results of an entrance test. Well-known topics can be discarded, leaving only what needs to be “pulled up”. One of the most significant and interesting courses of this program is strategic development.
2. Process improvement. Pay attention to the prompt and accurate flow of information from departments. Within certain limits, this can be achieved by increasing the degree of automation of data processing, as well as simplifying access to information for main users. Control procedures should also be developed that interfere as little as possible with the core processes of the corporation, while at the same time providing an adequate level of control. In addition, the information should be accessible to users, allowing them to process the data themselves based on their needs.
3. Organizational improvement. Establish project-based teams to deal with different aspects of process improvement. These groups are the main drivers of technological change and should be focused on the key goals for improving the work of departments set by the financial director.

Increases the efficiency of all departments

The CFO works closely with the leaders of all departments to find new ways to improve the performance of their departments. This can be done by comparing a corporation's operations with those of other companies, conducting a financial analysis of internal operations, and using industry information on best practices. This job involves the ability to convince fellow managers to implement improvements, as well as the ability to divert funding to areas that need it in order to increase their effectiveness.

Allocates resources

In its simplest form, this involves analyzing the net present value of a proposed capital investment and deciding whether funding should be allowed. However, the financier can take a much more active position. For example, it could create a separate fund for more radical projects that are unlikely to pass the rigorous capital approval process, and thus add high-risk, high-return projects to the company's capital portfolio.

Encourages innovation

The finance manager may modify internal scorecards, reporting, and funding to allow some original ideas to spread throughout the company and lead to high-margin proposals. It is especially important to apply this approach in a stable business, in which the focus is on cost reduction, which can discourage innovation.

What legal issues can be handled by the CFO?

Maria Tikhomirova, financial director of Petrol Plus Region LLC, expert of System Financial Director

Depending on the type and scale of the business, the legal department may work only for the needs of the financial department or have a wide range of tasks. The CFO can fully manage this department if his main functions are only the preparation of contracts and the issuance of powers of attorney, and changes in constituent documents, acquisition transactions, and litigation are rare. In this case, it is necessary to develop and approve the rules for the preparation and approval of standard and non-standard contracts, and so that all persons interested in the document participate in the process.

If there are several departments in the legal department that are responsible for claims, contract work, work on claims, patents, preparation of documents for participation in tenders, monitoring of legislation, it is better to separate it from the financial service. Then the financial director can be included in the work in the following cases:

• interaction with banks and preparation of documents;
• business reorganization, etc.

Most of the responsibilities noted are rarely entirely within the purview of the financial director. Therefore, he must coordinate his activities with the heads of other departments, including the legal service and the human resources department. This involves close interaction with other responsible persons who do not necessarily report to him.

The job description of the financial director establishes the responsibility, functional duties, rights of the employee. The document contains the qualification requirements for the employee, the procedure for his subordination, appointment to the position and dismissal from it.

Sample CFO Job Description Sample

I. General provisions

1. The CFO belongs to the category of "managers".

2. The Financial Director reports directly to the General Director.

3. The dismissal or appointment to the position of financial director is carried out by order of the general director.

4. During the absence of the financial director, his responsibility, functional duties, rights are transferred to another official, as reported in the order for the enterprise.

5. A number of employees are subordinate to the financial director: financial managers, analysts, controllers.

6. A person with a higher education and at least five years of experience in a managerial position is appointed to the position of financial director.

7. The CFO should know:

• tax, civil, labor, economic legislation;
• methods of drawing up budgets, plans;
• organization of financial work at the enterprise;
• methods for assessing profitability, risk, assets;
• financial flow management tools;
• the procedure for lending, attracting investments, allocating resources, determining the effectiveness of investments;
• procedure for financial settlements;
• accounting standards.

8. The financial director is guided in his activities by:

• orders and directives of the management;
• the Charter of the enterprise;
• normative legal acts of the Russian Federation;
• internal labor regulations, other regulatory acts of the enterprise;
• this job description.

II. Responsibilities of the Financial Director

The Financial Director performs the following functional responsibilities:

1. Manages the financial resources of the enterprise for their most effective use in the course of the company's activities.

2. Analyzes the financial, economic condition of the enterprise.

3. Organizes research and analysis of expenses for the purchase of raw materials, materials, energy consumption, transport costs, trade and other costs.

4. Creates a business plan for the enterprise, controls the execution of budgets and financial plans.

5. Identifies deviations from planned values, develops measures to eliminate non-production costs and factors, to promptly change the budget.

6. Develops the tax budget of the enterprise.

7. Controls the correct spending of funds and the use of credit funds.

8. Analyzes the dynamics of income from the activities of the enterprise, payment of dividends, interest on loans.

9. Examines investment costs, the amount of free funds of the enterprise.

10. Interacts with accounting departments.

11. Prepares financial reports for managers and owners of the enterprise.

12. Organizes budget planning, appoints persons responsible for its implementation.

13. Manages the assets and free cash of the enterprise.

14. Determines the sources of financing for the activities of the enterprise, its investment policy, taking into account the volume of sales of products, the market situation, the technical level of production, and the economic situation.

15. Manages the development of financial accounting standards: reporting forms not approved at the legislative level, information exchange and document management systems.

16. Negotiates with commercial banks, other financial institutions and organizations.

17. Ensures timely execution of financial, settlement, banking operations, receipt of income on time.

18. Promotes timely payment of invoices to suppliers and contractors, repayment of loans, payment of wages, transfer of payments to banking institutions.

19. Prevents the formation of unused inventory items.

20. Supports financial discipline, increases the profitability of production, compliance of the enterprise with the tax legislation of the Russian Federation.

21. Keeps records of the movement of funds and generates reports on the results of the financial activities of the enterprise in accordance with accounting standards.

22. Facilitates the timely transfer of taxes and fees to state budgets, the correct preparation and execution of reporting documentation.

III. Rights

The financial director has the right:

1. Represent the interests of the enterprise in relations with counterparties, government agencies on financial matters.

2. Sign documents related to the financial activities of the enterprise.

3. Participate in the preparation of documents.

4. Send instructions to the heads of departments of the enterprise on issues of conducting financial activities.

5. Determine the duties of subordinate employees.

7. Submit for consideration by the manager ideas on personnel changes, proposals for incentives, disciplinary, financial penalties for employees, proposals for improving the work of the enterprise.

8. Require the management of the enterprise to provide the conditions necessary for the performance of their duties.

IV. Responsibility

The Financial Director is responsible for:

1. Violation of decrees, decisions, other governing documents of the enterprise.

2. Improper performance of one's own official duties.

3. Causing material damage to the enterprise, its employees, counterparties, the state.

4. Transfer, disclosure of personal data, trade secrets, confidential information.

5. Providing false, inaccurate information to employees of the enterprise.

6. Violation of safety regulations, labor discipline, internal labor regulations, fire protection.

7. Making unauthorized meetings by management, representing the interests of the enterprise.