Finance supervisors are the head of the finance department for the business in which they are employed. They must be very savvy with money and thus are also often known as the treasurer. Their primary responsibility is to manage the funds of a company, so companies are extremely reliant on the competence of their finance supervisor.
The position of finance supervisor may be considered to be one of the most important ones in any business. If the finance supervisor does not perform her or her job correctly, the company can lose money. Finance supervisors are the head of the finance or accounting department, and they have a team of accountants and financial employees crunching numbers on a daily basis. They also work in conjunction with other high-level associates such as the chief operations officer, vice president, president, and chief executive officer in making sound financial decisions for the company. They usually report to one of these higher-level executive offices, as well.
The work environment is usually very nice, with a nice office and a secretary. Working hours tend to be normal business hours of Monday through Friday from 8 a.m. to 4 p.m. The tools used are a computer, telephone, calculator, pen and paper, and other typical office supplies. Requirements for this position usually are a master's degree in finance, accounting, or business management. Some finance supervisors manage to work their way up through the company to the position with a bachelor's degree. Regardless of the degree obtained, they must have a wealth of experience in the related fields of finance or accounting.
Finance supervisors are heavily relied upon to make sure that the company is doing well with its money. They must be able to implement their ideas for improving a company's use of funds even when the company seems to be doing well financially. They must have a strong will and able to take risks when appropriate without jeopardizing the company or the employees in it.
Finance Supervisor Tasks
- Contribute to budget planning, amending budgets, and tracking actual expenditures.
- Manage the processing and approval of key financial documents including revenue, expenditures, and cash flows, and accounts.
- Prepare financial and budget statements, reports, projections, and analysis.
- Oversee end of month and end of year closing activities.