One of the highest positions in a government job is that of a finance officer. So, if you are interested in commencing your career as a finance officer, then follow up the following list for the job responsibilities, duties and skills that are to be taken care of.
Job Responsibilities of a Finance Officer
The finance officer's efforts are vital for an organization's over all business operations. This is because they are responsible for controlling all the spending, funding and operations. They are also supposed to maintain all financial, administrative and accounting services, so as to fulfill all the legislative needs with support to the municipal operations. A finance officer is in charge of all accounting and investment activities of an organization. Administering records of employee pay, financial system, benefits, payout approvals etc are also the duties of a finance officer. This is inclusive of budget and expense monitoring along the organization's policies.
Other duties and responsibilities of a finance officer are approval of invoices, receipts' issues and the creation of a budget and its projections. They also need to maintain documentation of the government and have to ensure that the delivery of all the finance based records are done within the deadline.
Moreover, they also need to monitor and administer the financial system, ensuring there is maintenance of municipal finance regulations within the given time. Providing assistance in budget preparation, implementation of various procedures and policies related to finance, maintenance and establishment of cash control, monitoring all the investments, cash reserves, establishment of accounts supplier and its maintenance are all done by a finance officer.
They are also responsible for reconciling and preparing all the various bank related statements, process invoices for the suppliers and maintain the system related to purchase order. A finance officer also has to enter all data into the system, issue various checks, credit cards' security and verification charges and also ensure that the transactions are updated and recorded in the computerized accounting system.
Requirements
Academic and Prior Experience
Skills, knowledge and the perfect attitude can be achieved through proper educational qualification. Therefore, to become a finance officer, one must have a diploma in business administration, accounting or even a complete second level of an accounting based program which is recognized with financial experiences. A bachelor's degree in subjects like accounting, business, and economics is preferred. But most of the employers seek for candidates having a master's degree. Having an experience would double the candidate's chances.
Skill Sets
For succeeding in this field as a finance officer, one must possess basic knowledge and skills pertaining to:
- Computers and accounting
- Administration of beneficial programs for employees
- Accounts and payrolls
- Administration of the office
- Comprehension of principles relevant to the field
- Skills of supervisory nature
- Possess communications abilities
- Construction and maintenance of team
- Solve and analyze problems
- Be proficient enough to solve and make various vital decisions
- Skills for the management of time and stress
- Possess both verbal and written skills
Career Prospects (globally) and Salaries
Currently the job outlook is very promising in this field. But there is stiff competition in this particular job. Therefore, having all the above skills, knowledge and educational qualifications would increase a candidate's chances.
The standard salary drawn by a Finance Manager is anywhere from $37,000 to $135,000 and more. The annual income of a professional in this field depends upon the designation, field, and location, as well as level of qualifications and work experience.
For a career as a Finance Officer an individual must possess some personal attributes including honesty and trustworthiness and a basic knowledge of culture. One should be flexible and sensitive with perfect demonstration of work ethics and sound executions.
