Financial Administrator

Financial administrators are in charge of managing financial-related tasks for their company. They perform budget and payroll transactions, maintain separate account such as discretionary and grant funding, and maintain accurate financial records for tax-related purposes. They must follow company policies to process payments, approve money transfers, keep financial statements, review reimbursements, and approve purchase order requisitions. Additionally, they prepare financial reports, and collaborate with other departments as needed.Financial administrators must provide excellent customer service and act professionally with interacting with external financial institutions. Additionally, they must work closely with other financial professionals to reach all organizational goals. In addition to working well with others, financial administrators must work well independently and have excellent problem solving skills. To help oversee budget requirements, financial administrators must have advanced bookkeeping knowledge, reconcile accounting records, and correct discrepancies. They need to be able to work well under pressure and to shifting financial circumstances. They monitor economic policy changes, and use company resources efficiently.Generally, financial administrators work in an office environment with other finance professionals. One of their main tools is a personal computer with spreadsheet software that helps them calculate financial transactions. They also have proficiency with finance-related software to make projections for future use by the business.A bachelor's degree in finance, accounting, administration, or a related field is required for this position. Experience in a similar position may be preferred, as may experience in a managerial role.

As a Financial Administrator with 3-6 years of experience in Australia, your main responsibilities include:

• Managing financial transactions, including accounts payable and receivable, and ensuring accuracy and compliance with regulations. Handle financial transactions, such as payments and invoices, while ensuring adherence to regulations and maintaining accuracy.
• Assisting in budget preparation, monitoring expenses, and providing analysis to support financial decision-making. Support budget preparation, monitor expenses, and provide analysis to aid in making informed financial decisions.
• Conducting financial forecasting and analysis to identify trends, risks, and opportunities for improvement. Perform financial forecasting and analysis to identify trends, risks, and potential areas for improvement.
• Collaborating with internal teams and external stakeholders to provide financial information and support financial reporting requirements.

For a Financial Administrator, the following qualifications are required:

• Solid understanding of financial principles and concepts to efficiently manage day-to-day financial operations, including budgeting, forecasting, and financial reporting.
• Proficiency in financial software and tools, such as QuickBooks or Excel, to accurately maintain and reconcile financial records, including accounts payable and receivable.
• Strong attention to detail and accuracy to ensure compliance with financial regulations and company policies, including proper documentation and record-keeping.
• Excellent problem-solving skills to analyze financial data, identify trends, and provide insights and recommendations to improve financial performance.

The Financial Administrator role is crucial for efficient financial operations in Australia with 3-6 years of experience. Here are four alternative roles to consider:

• Senior Accountant: A position with broader responsibilities such as financial reporting and regulatory compliance.
• Treasury Manager: Focused on managing cash, liquidity, forecasting, risk management, and investment activities.
• Procurement Manager: Involves managing supplier relationships, negotiating contracts, and overseeing purchasing processes.
• Financial Analyst: Concentrated on monitoring financial performance, developing forecasts, and providing insights for strategic decision-making.

The job role of Financial Administrator in Australia is expected to experience steady growth in the market over the next 10 years. According to recent data from Google, there has been an increasing demand for professionals in this field. The projected growth shows a positive trend, indicating a significant number of employment opportunities in the future. With the continuous globalization and expansion of businesses, the need for financial administrators is expected to rise. This upward trajectory ensures a promising career path for individuals interested in this role in Australia.