Page 3 - KFMS Your Own FD Ebook

Introduction

What is the role of the Finance Director?

To contribute to the attainment of the company's business objectives by:

• Providing strategic and financial guidance to ensure that the company's financial
commitments are met
• Developing all necessary policies and procedures to ensure the sound financial
management and control of the company’s business

What can a Part-Time FD do for you?

An FD will ensure that the processes put in place help the business have clear direction. As every
function within a company has a financial impact, it is essential that these processes are

communicated to everyone in the organisation, to enable all the different functions to be aware
of the impact their contributions have.

The best Finance Directors spend more than half their time looking at the future of your business
not its past. They will:

• have a collaborative approach and will work closely with the MD/CEO and the wider

management team and know your business inside out.
• have the confidence to challenge and influence the management robustly but tactfully.

Above all, they will add tangible value to your business and help propel it to the next stage of
growth.

A good FD will have a relentless focus on future cash flow.

COVID-19 pandemic has been disastrous for business cash flow and has been followed by
recognition of COVID-19 global recession. However, first major signs of the recession preceded the
pandemic with the 2020 stock market collapse on 20 February.

It is therefore critical that cash flow forecasts are dynamic as the priorities are now all about cash.

We are in extraordinary times which require extraordinary decisions and actions.

The following pages detail the areas that a part-time FD would address to enable them to direct
financial performance, protect the financial integrity of the company and drive strategy.

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