As the industry changes, traditional accounting roles are transforming alongside it. We asked some recruitment experts about the types of roles you can find in the modern accounting industry.
In the first of our series on modern finance roles here we look at what it takes to become a finance transformation manager.
What does a finance transformation manager do?
“The purpose of the finance transformation manager is to keep up the pace with evolving technologies and industry trends by aligning the finance vision with company strategy, and implementing sustainable change into the finance department, thereby transforming the business,” says Kathryn Heeler, consultant at Sellick Partnership.
“Generally the finance transformation manager will report to the head of finance transformation, and will work closely with finance systems and internal control teams.” Heeler explains that companies may employ finance managers to specialise in transformation projects and take the lead in driving change and taking ownership for implementing a large-scale finance transformation.
What is a finance transformation manager responsible for?
- Identifying improvements leading to increased accuracy and efficiency of the month-end process.
- Collaborating with the wider finance team and continuously monitoring internal processes – identifying industry trends and value creation opportunities to maximize the potential of the department and build a “finance team of the future”.
- Automating and innovating across the finance spectrum.
- Defining the strategy and being accountable for the implementation of the finance change and transformation strategy.
- Working closely with the finance systems and internal control teams to ensure the design and effectiveness of systems, processes and controls provide a strong and robust environment.
Who would suit a finance transformation manager role?
A finance transformation manager should have hands-on knowledge of finance processes and a great idea of what “excellent” looks like, says Heeler. “They should have strong financial modelling skills, as well as business and data analysis skills. They will also need experience in successfully implementing high profile strategic projects, managing multiple projects/deadlines and multitasking with ease.”
The ability to work autonomously is also important, as are strong communication skills (both written and verbal), and an ability to communicate/influence/negotiate easily and effectively across stakeholders from team members to executive management.
“A finance transformation manager needs to concisely and logically communicate insights and suggestions, whether verbally (including in meetings), in writing or through executive-level, professional presentations,” adds Heeler. “They need to have a positive, collaborative and engaging approach to working with colleagues.”
How much would a finance transformation manager potentially earn?
Heeler says salaries can range from £70,000 to £90,000 in the south and between £50,000 and £60,000 in northern cities.
Where can you find a finance transformation manager role?
Mainly in large companies, Heeler explains, either in the public sector or businesses who provide services into the public sector.
“They should have strong financial modelling skills, as well as business and data analysis skills.”
Further reading on careers:
- 4 accountants reveal the secret to their success
- 4 new paths your career could take and how to get started
- Expert advice for every stage of your career
The content team are the owners of AAT Comment.