Vice President (VP), Finance

Vice-presidents of finance usually are at the top of a company's hierarchy. They ensure that their company is profitable, make sure that spending remains minimal, and remain within the regulations of the government. The primary responsibilities of this position is to oversee finances and oversee the budget. When planning budgets, they set targets for specific milestones and objectives that the business must achieve. Vice-presidents of finance supervise the tasks performed by employees at lower levels in Finance department. They oversee the financial reporting, accounting daily operations, as well as monthly results of operations. They also manage the tax obligations of the business and interactions with regulatory authorities.

Vice presidents are typically found in the department of finance in any medium to large-sized business that has an accounting department. They usually work during normal working hours in an office environment and oversee an accounting department and finance personnel. As the top managers, they are also in contact with the chief executive and president director of their company. In this role they typically work from their own office, and are accompanied by an assistant or secretary.

The educational requirements for this job generally include a master's degree in business, finance, or accounting. They should also have extensive experience in accounting, and it is generally recommended that they be accredited as public accountants. They should also possess between five and 10-years of work experience within a mid-to high-level position in accounting or finance.

Within the context of the Vice President (VP), Finance, employees are expected to fulfill the following roles and responsibilities in order to make meaningful contributions towards organizational success.

• Overseeing and managing all financial operations for the organization in order to ensure financial stability and identify opportunities for growth.
• Developing and monitoring budgets, analyzing financial data to identify trends and variances, and forecasting financial performance to help guide strategic decision-making.
• Preparing timely and accurate financial reports, including balance sheets, income statements, and cash flow statements, and presenting them to stakeholders both internally and externally.
• Identifying and managing financial risks that may impact the organization's financial performance, including credit risk, market risk, and liquidity risk. They develop strategies and implement controls to mitigate these risks while ensuring compliance with regulatory requirements.

Major educational qualifications required for Vice President (VP), Finance are:

• Bachelor's degree in accounting, finance, business administration, or any related area.
• Certifications like CPA, CFA, and CMA are highly recommended.

Here are four alternative roles for a Vice President (VP), Finance with 3-6 years of experience in India:

• Financial Controller: A senior-level finance professional responsible for overseeing financial reporting, budgeting, and forecasting.
• Director of Finance: A leadership position responsible for driving financial strategy and managing financial operations for an organization.
• Senior Financial Analyst: An intermediate-level finance professional responsible for providing financial analysis and insights to support decision-making.
• Corporate Treasurer: A finance professional responsible for managing a company's cash and investment portfolio, as well as overseeing banking relationships.

In India, the position of Vice President (VP), Finance is expected to see steady growth in the coming years. According to Payscale, the median salary for a VP of Finance in India is INR 3,160,018 per year. Over the past 10 years, the demand for professionals in this role has grown significantly, with an increasing number of companies recognizing the importance of strong financial leadership. As India continues to grow as a hub of business and commerce, there is expected to be a continued demand for experienced financial executives. The future appears bright for individuals in this role, with strong career growth opportunities and a high number of employment opportunities available.