What is a Finance Executive?
Finance executives supervise the overall financial health of an organization. Responsible for overseeing a company’s various financial departments, these professionals work to ensure that a company’s long-term financial goals are met successfully. They report to their company’s board and may work in either the private or public sector.
Responsibilities of CFOs
Common responsibilities for an finance executive include:
- Preparing financial documents, such as statements, business activity reports, and forecasts
- Ensuring legal compliance of their organization’s finances
- Supervising financial employees
- Analyzing an organization’s finances to find strategies for cost reduction
- Finding opportunities for business expansion
- Assisting management with making financial decisions
In addition, finance executives can specialize in a number of areas, such as insurance, risk or credit. These individuals must possess excellent analytical skills, including a strong attention to detail and an aptitude for math. In addition, their leadership role requires them to be proficient in communication and organization. The majority of finance executives work directly for finance and insurance employers. However, a significant portion can also be found in professional, scientific and technical service areas.
Finance Executive Salary
A career as a finance executive is both lucrative and high-opportunity. According to the Bureau of Labor Statistics, finance manager roles are expected to grow 19 percent by 2026, a rate considered much faster than average. Their median annual wage is $125,080. However, the top 10 percent earn more than $208,000.
Interested in becoming a Finance Executive?Explore Degree
A prospective finance executive will find that a master’s degree, such as a Master of Business Administration, can help them gain a significant edge in the job market. Work experience in a finance-related position is also necessary. Before entering a finance executive position, potential candidates can build their careers in positions as accountants, auditors, financial analysts or loan officers. Many organizations also often look for candidates with professional certification in finance. Although not always required, a certification by the CFA institute or Association for Finance Professionals may improve an individual’s professional credibility.
Becoming a Finance Executive
At Southeastern University, the online MBA trains working professionals to become leaders in their fields. Using a Christ-centered curriculum, the program builds on students’ past experience and education to help them prepare for the challenges of the modern business world. The program offers four tracks: executive leadership, missional leadership, healthcare administration and sports management. A fully online degree, the program is designed to help students go further in their careers in a flexible format that fits around their lives.