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Who is a Finance Executive?
Beware of little expenses; a small leak will sink a great ship ~Benjamin Franklin
Finance Executives manage money, overseeing a company's income, expenses, and investments. They monitor financial transactions, create and assess reports like cash flows, and strategies to enhance profit margins and reduce expenses. Their role is crucial for staying competitive and making wise market decisions in response to current dynamics.
Finance Executives establish strategic financial goals, objectives, and performance criteria. Strong accounting and analytical skills are fundamental to this role. While often working fixed hours, they may extend their work hours to meet deadlines. This career is well-suited for individuals with a keen understanding of finance, attention to detail, and the ability to navigate complex financial landscapes.
Quick Facts for Finance Executive
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Industry
Finance
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Average Salary in India
₹47500
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Suitable for
Male, Female, Others
A career as a Finance Executive is suitable for every individual. There is no gender-based discrimination or varying roles and responsibilities. Anyone who is skilled and has relevant qualifications may opt for the Finance Executive job role.
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Any special needs
Yes
A career as a Finance Executive is suitable for candidates with special needs. It is more of a desk-based job role. Candidates working on finance-based software such as Excel sheets, spreadsheets and other relevant skills with the required qualifications may opt for this role.
Table of Contents for Finance Executive
What is the role of Finance Executive?
Finance Executive roles and responsibilities are to oversee finance and accounting, prepare reports, analyse cash flow, and suggest improvements. Their responsibilities also involve managing financial metrics and ensuring compliance with organisational policies. They set strategic goals and performance criteria, contributing significantly to the financial health and strategy of the organisation.
Finance Executives plan and direct financial transactions and ensure financial accuracy.
Finance Executives analyse the financial data of various companies and individuals.
They implement strategies for cost-cutting.
They work to enhance profit margins and remain competitive.
Types of a Finance Executive
Finance executives are like financial experts with various roles, such as CFOs and treasurers. They manage money, create reports, and set smart goals for a company's financial health. These magic users ensure everything is organised correctly, making sure the company does well. It is like having financial experts to guide and protect the money. Below we have provided the types of Finance Executives or related career options with their job descriptions.
Chief Financial Officer (CFO): A Chief Financial Officer (CFO) is the financial leader of a company, managing money strategies and ensuring monetary health. He or She guides financial decisions, analyses risks, and communicates with stakeholders. CFO plays a crucial role in shaping the financial success and stability of the organisation through strategic planning and perceptive financial management.
Controller: A Controller oversees a company's financial reporting, ensuring accuracy and compliance. He or She manages financial transactions, monitors budgets, and prepares reports for decision-making. Acting as the money guardian, the Controller ensures that financial processes align with regulations, contributing significantly to the organisation's financial transparency and success.
Treasurer: A Treasurer is like a money caretaker, handling a company's funds and protecting against risks. He or She oversees cash management, and financial transactions, and assesses investment opportunities. The Treasurer plays a pivotal role in maintaining financial stability, ensuring liquidity, and making informed decisions to protect and enhance the organisation's financial well-being.
Financial Analyst: A Financial Analyst examines financial data to provide insights and support decision-making. They analyse market trends, evaluate investment opportunities, and assess financial risks. Using advanced analytical tools, Financial Analysts help businesses make informed financial decisions, optimise investments, and maximise returns, contributing to the organisation's financial growth and stability.
Risk Manager: A Risk Manager identifies and handles potential financial risks for a company. He or She assesses threats, develops risk mitigation strategies, and ensures compliance with risk management policies. By proactively addressing uncertainties, the Risk Manager plays a crucial role in safeguarding the organisation's financial health and minimising potential negative impacts.
What is the workplace/work environment of Finance Executive like?
A Finance Executive usually works in an office and does not have field duties, so there is no need for travel. Engaging in desk work on Excel or accounting software consumes a significant part of their day. The role does not involve physical labour, making it suitable for candidates with special needs.
Does Finance Executive require travelling?
Not Likely
Travel requirements for financial executives, like CFOs or analysts, differ by role and company. Typically, a Finance Executive's role does not involve extensive travel, as they primarily work in an office setting without significant field responsibilities. However, positions involving international operations, mergers, or client meetings might require some travel. The extent of travel depends on the job's nature and the organisation's structure.
Time Pressure
Likely
The time pressure for a financial executive can vary based on the specific role, company, and industry. Financial executives often work within deadlines for financial reporting, budgeting, and decision-making. Periodic financial closings, regulatory filings, and response to market dynamics can create time pressures. However, the level of urgency varies across roles and situations.
Overtime Details
A Finance Executive may often be required to work extended hours. It is quite a norm to work extended hours in a career as Finance Executive.
How to become a Finance Executive?
Steps to become a Finance Executive
If managing a company's finances appeals to you, a career as a Finance Executive is an excellent choice. For those seeking details on becoming a Finance Executive in India, here are the steps. Explore how to step into this role and navigate the financial landscapes of businesses with skill and expertise.
What are the skills and qualities required to become a/an Finance Executive?
We have listed below details of the Finance Executive skills required to take up a full-time job role and perform efficiently in the work environment.
Organisational Skills: A Finance Executive is responsible for a diverse range of tasks within the financial area. These include managing financial transactions, ensuring accuracy in financial records, and preventing any potential mismanagement.
Communication Skills: The professionals working as Finance Executives are required to be clear while conveying their thoughts, opinions, or ideas to their peers, employees, or upper management.
Detail-Oriented: A Finance Executive must be detail-oriented. He or she is required to carefully audit the balance sheet. A little mistake in figures or calculations may cause a huge blunder.
Analytical Skills: A career as a Finance Executive demands analytical thinking to understand the situation and interpret it. He or she is required to interpret future outcomes and derive a thoughtful response.
Which certifications and internships can be helpful in becoming Finance Executive?
We have listed below major Finance Executive certification courses. Aspirants who want to upgrade their knowledge and skills to acquire a Finance Executive job role or make progress in their career may undergo these courses.
Internship Availability
A Finance Intern or Finance Executive Intern is often provided with several roles and responsibilities. He or she is required to work in close contact with the accounting team. A finance intern is required to analyse balance sheets including accounts reconciliations. A finance internship provides him or her with the exposure and hands-on working knowledge to acquire full-time Finance Executive jobs.
Finance Executive Jobs and Salaries
Junior Finance Executive
- Average Salary 31000
Job Description
The Junior Finance Executive job description includes overseeing the development and operations of the finance department and reviewing financial policies. He or she creates and analyses financial reports and budgets and supervises the account reconciliation.
Salary Description
The estimated Junior Finance Executive salary in India is rupees three to four lakhs. The Junior Finance Executive salary in India may vary depending on the various job factors.
Salary Source: Payscale
Senior Finance Executive
- Average Salary 64000
Job Description
The Senior Finance Executive job description includes supporting the goal of the company preparing the company's financial report and monitoring accounting records. He or she creates business plans and advices the board of directors on finance matters.
Salary Description
The estimated Senior Finance Executive salary in India is rupees five to nine lakhs per annum. The Senior Finance Executive salary in India may vary depending on the various job factors.
Salary Source: Payscale
What is the job outlook for Finance Executive?
There are varying Finance Executive jobs. The financial industry is constantly expanding giving rise to the number of job opportunities for individuals. There is an expected job growth of 16 per cent for finance executives. A bachelor’s degree is a must for a Finance Executive role. Several employers prefer a bachelor’s degree with a work experience of a few years.
Frequently Asked Questions for Finance Executive
Que. What is the average salary of a Finance Executive?
Ans.According to talent.com, the average salary of a Finance Executive is Rs. 400,000 per annum.
Que. What is the required qualification to become Finance Executive?
Ans.A bachelor’s degree in business administration, economics, finance, or accounting or other related specialisation is required to become a Finance Executive.
Que. What is the average fee of a BBA in Finance?
Ans.The average fee of BBA in Finance ranges from Rs. 200,000 to Rs. 500,000 per annum.
Que. What are top Finance Executive Colleges?
Ans.The top Finance Executive colleges are the School of Business, University of Petroleum and Energy Studies, Dehradun, Christ University, Bangalore, VIT Business School, Vellore, MSU Baroda - Maharaja Sayajirao University of Baroda, School of Management, Dr DY Patil University, Navi Mumbai and IBS Hyderabad - IBS Business School.
Que. What is the average salary of a Finance Executive?
Ans.According to talent.com, the average salary of a Finance Executive is Rs. 400,000 per annum.
Que. What does a finance executive do?
Ans.A Finance Executive oversees the organisation's financial transactions and manages the budgets, income flows, and mergers.
Que. What is the role of a finance executive?
Ans.The role of a finance executive is to monitor the transactions, income, expenditures and profits and losses of the company's business. He or she looks after the budget, profit, cash-flow statements and tax planning.
Que. What do you need to be a finance executive?
Ans.You must pursue at least a bachelor's degree in finance or accounting to gain entry-level jobs and gain at least five years of experience in corporate finance, financial management, accounting, and financial reporting software.
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