VP of Finance Job Description
VPs of Finance are responsible for overseeing, and having a hands on role in a company’s financial records. Learn more about what exactly a VP of Finance does in this detailed guide.
What is a VP of Finance?
The Vice President of Finance is an upper-level executive who oversees all financial matters for an organization, from making sure payroll is finished on time to analyzing market trends. Depending on the company, a VP of Finance may report directly to a president, CEO, or CFO, depending on the structure of an organization.
They are responsible for processing the financial activities of an organization to maximize a company’s profits and plan for its growth. The role includes analyzing data and advising top executives on ways to use that information to make strategic decisions about the organization’s future. With a hands-on approach to all aspects of an organization’s finances, a VP of Finance must ensure a company complies with tax laws and regulations specific to that industry.
Education Requirements
- Bachelor’s Degree in finance, accounting, business administration or a related field
- Five to ten years of managerial experience
- Certifications such as CPA, CFA, and CMA are preferred
- Analytical skills
- Attention to detail
- Critical thinking
- Computation skills
- Leadership abilities
- Excellent oral and written communication skills
- Serve as a financial advisor to the CEO and executive team for strategic planning purposes
- Oversee all sides of accounting operations, including payables, receivables, payroll, and tax preparation
- Develop appropriate tracking methods for revenue and expenses.
- Oversee development, oversight, and management of the organization’s investment plan
- Lead and manage the budgeting process
- Gather financial data for analysis and forecasting with respect to profits, trends, costs, and compliance
- Coordinate the preparation of annual, quarterly, and monthly reports
- Manage insurance coverage for the organization, including compliance
- Process the financial activities of an organization to maximize a company’s profits and plan for its growth
- Ensure a company complies with tax laws and regulations specific to that industry
- Own all aspects of Finance operations, including:
- Regular financial reporting (e.g. preparing monthly, quarterly, and annual financial statements), forecasts, planning, budgeting, financial analysis, cash management, and procurement
- Timely and accurately provide reporting of financial information to internal parties, government regulators and outside agencies
- Audit and improve productivity and effectiveness of current cross team processes
- Partner with the CEO to support corporate finance activities, including venture capital fundraising
- Manage and supervise all AR/AP cycles with external partners and customers - including the implementation of accounting and billing systems and controls
- Partner with People Team on Equity administration and planning
- Keep careful tabs on regular transactions, investments and any business deals that affect the bottom line.
- Conduct regular audits of expenditures, assets and liabilities
- Monitor transactions
- Prepare financial reports
VP of Finance Essential Skills
VP of Finance Roles & Responsibilities
Day-to-Day Duties