How to Become a Director of Finance: Australian Careers in Finance

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Master of Applied Finance

Financial systems are central to everything, with the Australian financial market growing 13.2% to $10.9 trillion during 2021* alone. Strong financial skills are an invaluable mechanism to drive change and create success. The professionals who have upskilled will thrive.

With the 100% online Master of Applied Finance from UNSW Online, you will accrue a wealth of financial knowledge and real-world applications. Your studies will also be tailored to suit your career path – and can help build a strong foundation to pursue the Chartered Financial Analyst (CFA) designation.

Whether you’re looking to upskill and advance your career, or make a change by entering the finance industry, the Master of Applied Finance will provide the skills and experience you need.

The UNSW Online Master of Applied Finance is designed to ensure you can confidently apply, manage, and lead financial functions at all business levels – both in Australia and around the world – and be an asset to any forward-thinking financial organisation.

It offers eight core courses and four electives. Select from key areas including analytics, financial technology and business management – and learn how financial knowledge areas such as international finance can be applied in any business to achieve success. You can also select a study pathway that is closely aligned with the Chartered Financial Analyst (CFA) curriculum, giving you a strong grounding to pursue the CFA designation. Whatever your interests, this program delivers access to the latest thinking and current research in finance.

There is also the option to study the Graduate Certificate in Finance or the Graduate Diploma in Applied Finance, which combined create the master’s program.

*Roy Morgan Banking & Finance Currency Report, 2021

Online

Chief Financial Officer (CFO), Director of Finance, Finance Officer, Financial Analyst, Investment Advisor

Price may vary

Accelerated, 2 years

Graduate Diploma in Applied Finance

The online Graduate Diploma in Applied Finance at UNSW is designed for professionals who want to build on fundamental financial knowledge to tailor their learning through relevant courses and real-world applications.

This course will enable you to apply, manage and lead financial functions with confidence. These skills can be applied at all business levels, and make you stand out in today’s world of finance.

Whether you’re looking to upskill and advance your career, make a change by entering the finance industry, or build a strong foundation to pursue the Chartered Financial Analyst (CFA) designation, you can accrue a wealth of financial knowledge and real-world applications through this postgraduate course from one of Australia’s most respected universities.

Online

Chief Financial Officer (CFO), Director of Finance, Finance Manager, Financial Advisor, Financial Analyst, Financial Planner, Hedge Fund Manager, Private Banker

Price may vary

Accelerated; complete in as little as 16 months

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What is a Director of Finance?

What will I do?

What skills do I need?

Resources

What is a Director of Finance?

The role of a Director of Finance is a pivotal one within any organisation, serving as the cornerstone of financial strategy and management. This position involves overseeing the financial health of the company, ensuring that all financial practices align with the overall business goals. Directors of Finance are responsible for developing financial plans, managing budgets, and providing insightful analysis to guide decision-making. Their expertise in financial forecasting and risk management is essential for navigating the complexities of the financial landscape.

In this dynamic role, the Director of Finance takes on a variety of responsibilities that include directing financial reporting, ensuring compliance with regulations, and managing financial audits. They work closely with other executives to develop strategies that drive growth and profitability. Common tasks involve analysing financial data, preparing reports for stakeholders, and presenting findings to the board of directors. This position requires a keen eye for detail and a strong understanding of financial principles, making it both challenging and rewarding.

Collaboration is a key aspect of the Director of Finance’s role, as they often liaise with various departments to ensure that financial objectives are met. They play a crucial role in mentoring finance teams, fostering a culture of continuous improvement and professional development. The ability to communicate complex financial information in a clear and accessible manner is vital, as it enables the Director to influence and guide the organisation’s strategic direction effectively.

With a strong demand for skilled finance professionals, a career as a Director of Finance offers significant opportunities for growth and advancement. The financial services industry is expanding, and this role is integral to driving organisational success. For those who are passionate about finance and enjoy working in a leadership capacity, the position of Director of Finance can be both fulfilling and lucrative, with competitive salaries reflecting the importance of this role in today’s business environment.

Career snapshots For Director of Finances

The role of a Finance Director is pivotal in managing an organisation’s financial health. This position involves planning, organising, directing, controlling, and coordinating financial and accounting activities. As the financial landscape continues to evolve, the demand for skilled professionals in this field remains strong.

Average Age: Typically around 45 years old.
Gender Distribution: Predominantly male, though the industry is seeing increasing female representation.
Hours per Week: Generally, Finance Directors work around 50-60 hours per week.
Average Salary: Ranges from $180,000 to $255,000 annually, depending on location and experience.
Unemployment Rate: Relatively low, reflecting the ongoing demand for finance professionals.
Employment Numbers: Approximately 194,000 workers are employed in the Financial and Insurance Services industry.
Projected Growth: Employment in the Financial and Insurance Services industry is expected to grow steadily over the next few years.

As organisations increasingly recognise the importance of financial strategy, the role of Finance Directors is becoming more integral. This trend suggests a promising future for those pursuing a career in finance, with ample opportunities for advancement and professional development.

What will I do?

The role of a Director of Finance is pivotal in ensuring the financial health and strategic direction of an organisation. This position involves overseeing financial planning, risk management, record-keeping, and financial reporting. A Director of Finance plays a crucial role in guiding the financial strategy and ensuring compliance with regulations, all while working closely with other executives to drive the organisation’s success.

Financial Planning – Develops and implements financial strategies to support the organisation’s goals and objectives.
Budget Management – Oversees the preparation and management of budgets, ensuring alignment with financial forecasts.
Financial Reporting – Prepares and presents accurate financial reports to stakeholders, including the board of directors.
Risk Management – Identifies and mitigates financial risks, ensuring the organisation’s assets are protected.
Compliance Oversight – Ensures adherence to financial regulations and standards, maintaining the organisation’s integrity.
Team Leadership – Manages and mentors finance team members, fostering a collaborative and high-performance culture.
Cash Flow Management – Monitors and optimises cash flow to ensure the organisation can meet its financial obligations.
Investment Analysis – Evaluates investment opportunities and provides recommendations to enhance financial performance.
Stakeholder Communication – Engages with internal and external stakeholders to communicate financial performance and strategy.
Strategic Planning – Collaborates with other executives to align financial strategies with overall business objectives.

What skills do I need?

A career as a Director of Finance requires a robust set of skills that blend analytical prowess with strategic thinking. Professionals in this role must possess a deep understanding of financial principles, including budgeting, forecasting, and financial reporting. Strong leadership abilities are essential, as they will be responsible for guiding finance teams and collaborating with other departments to ensure financial goals align with the organisation’s overall strategy. Additionally, proficiency in financial software and data analysis tools is crucial for making informed decisions based on accurate financial data.

Effective communication skills are also vital, as Directors of Finance must present complex financial information to stakeholders in a clear and concise manner. They should be adept at problem-solving and critical thinking, enabling them to navigate challenges and identify opportunities for financial improvement. Furthermore, a keen eye for detail and a commitment to ethical financial practices are necessary to maintain the integrity of the organisation’s financial operations. With these skills, a Director of Finance can significantly contribute to the financial health and strategic direction of their organisation.

Skills/attributes

Strong analytical skills
Expertise in financial reporting and analysis
Proficiency in budgeting and forecasting
Leadership and team management abilities
Excellent communication skills
Strategic thinking and planning
Knowledge of financial regulations and compliance
Ability to manage risk and make informed decisions
Experience with financial software and tools
Attention to detail and accuracy
Problem-solving skills
Ability to work under pressure and meet deadlines
Strong interpersonal skills for stakeholder engagement
Adaptability to changing financial landscapes
Commitment to continuous professional development

Resources

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How to Become a Director of Finance: Australian Careers in Finance

What is a Director of Finance?

Career snapshots For Director of Finances

What will I do?

What skills do I need?

Skills/attributes

Resources

Career Outcomes