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Looking for the best financial manager? Here's what the qualifications should look like

by , 22 April 2015
Of course you can leave this to the human resources department. But you could live to regret it a few months later when your company's budget develops into a liquidity trap. Because the truth is, hiring a financial manager is something that requires your direct involvement.

Keep in mind that the person you choose will have to manage the financial department according to sound financial systems, practices and processes that are compliant with relevant legislation.

When searching for a new financial manager, don't forget that he also has to meet principles of international best practices that will allow the organisation to achieve its strategic financial objectives.

And that's why your job ad should state that this position reports to: Chief Financial Officer (CFO).

Direct reports: Finance Supervisor, Finance Secretary, Management Accountant, Accountant Qualifications

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When it comes to experience, competencies and qualifications, here's what to ask for:

• Chartered Accountant or Professional Accountant;
• An MBA or Honours Degree would be an advantage;
• Eight years broad-based financial management experience (post articles), in a relevant industry; and
• Three years of which should have been in a similar senior management capacity.


• Knowledge of International Financial Reporting Standards (IFRS);
• Knowledge of relevant financial legislation (e.g. Public Finance and Management Act);
• Knowledge of financial modelling;
• Knowledge of company business planning and business management principles;
• Knowledge of taxation (company, personal, Vat);
• Numeracy;
• Attention to detail;
• Communication skills;
• Planning and organising.

Regarding leadership competencies, we've made another list:

• Driving accountability;
• Drive and energy;
• Initiating action;
• Building and maintaining stakeholder relationships;
• Cross-cultural awareness;
• Impact and influence;
• Organisational understanding;
• Business understanding;
• Facilitating and managing performance;
• Attracting, developing and retaining talent;
• Strategic focus;
• Articulating and cascading the vision and values;
• Decisive insight;
• Team leadership; and
• Communication skills.

You may think this leaves you with fewer options but being careful and selective about your final decision will actually leave you with best of the best!

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