What should a financial director do? What a CFO shouldn't do. Professional qualities of a financial director

We bring to your attention a typical example of a job description for a financial director, sample 2019. A person with a higher professional (economic) education and at least 5 years of experience in financial and accounting work, including in managerial positions, can be appointed to this position. Do not forget, each instruction of the financial director is issued in hand against a receipt.

The following provides typical information about the knowledge that a financial director should have. About duties, rights and responsibilities.

This material is part of the huge library of our website, which is updated daily.

1. General Provisions

1. The financial director belongs to the category of managers.

2. A person who has:

— education higher professional (economic) education and

— experience in financial and accounting work, including in management positions, at least 5 years.

3. The financial director is hired and dismissed by the director of the organization.

4. The financial director must know:

— legislative and other regulatory legal acts regulating the financial, economic and production activities of the organization;

— regulatory and methodological documents on the organization of accounting and financial management;

— basics of civil law;

— financial, tax and economic legislation;

— codes of ethics for professional accountants and corporate governance;

— profile, specialization and structure of the organization, prospects for its development;

— methods for analyzing and assessing the effectiveness of an organization’s financial activities, analyzing financial markets, calculating and minimizing financial risks;

— the procedure for concluding and executing business and financial contracts;

— organization of financial work, budgeting;

— methods and procedures for planning financial indicators;

— the procedure for financing from the state budget, long-term and short-term lending, attracting investments and borrowed funds, using own funds, issuing and purchasing securities, distributing financial resources, calculating taxes, conducting audits; accounting, tax, statistical and management accounting;

— basics of production technology;

— economics, organization of production, labor and management;

— modern reference and information systems in the field of accounting and financial management; rules for storing financial documents and protecting information;

— advanced domestic and foreign experience in organizing accounting and financial management;

— legislation on labor and labor protection of the Russian Federation;

— rules and regulations of labor protection, safety precautions, industrial sanitation and fire protection

5. In his activities, the Financial Director is guided by:

- legislation of the Russian Federation,

- Charter of the organization,

- orders and instructions of the director of the organization,

- this job description,

— Internal labor regulations of the organization.

6. The financial director reports directly to the director of the organization, as well as _______ (specify position)

7. During the absence of the financial director (business trip, vacation, illness, etc.), his duties are performed by a person appointed by the director of the organization in the prescribed manner, who acquires the corresponding rights, duties and is responsible for the performance of the duties assigned to him.

2. Job responsibilities of the financial director

Financial Director:

1. Determines the financial policy of the organization, develops and implements measures to ensure its financial stability.

2. Manages financial management work based on the strategic goals and development prospects of the organization, identifying sources of financing taking into account market conditions.

3. Analyzes and assesses financial risks, develops measures to minimize them, ensures control over compliance with financial discipline, timely and complete fulfillment of contractual obligations and receipt of income, the procedure for processing financial and business transactions with suppliers, customers, credit institutions, as well as operations of foreign economic activity.

4. Heads the work on developing the organization’s tax policy, tax planning and tax optimization, improving accounting policies, preparing and conducting the issue of securities, analyzing and assessing the investment attractiveness of projects and the feasibility of investing funds, regulating the ratio of equity and borrowed capital.

5. Interacts with credit institutions on issues of placing temporarily available funds, conducting transactions with securities, and obtaining loans.

6. Manages the preparation of long-term and current financial plans and cash budgets, communicates the indicators of the approved budget system and the tasks, limits and standards arising from it to the divisions of the organization, and ensures control over their implementation.

7. Participates in the development of draft plans for sales of products (works, services), costs of production and sale of products (works, services), prepares proposals to increase the profitability of production, reduce production and distribution costs.

8. Monitors the status, movement and intended use of financial resources, the results of financial and economic activities, and the fulfillment of tax obligations.

9. Takes measures to ensure solvency and increase the organization’s profits, the effectiveness of financial and investment projects, and the rational structure of assets.

10. Organizes the development of an information system for financial management in accordance with the requirements of accounting, tax, statistical and management accounting, monitoring the reliability and maintaining the confidentiality of information.

11. Ensures that necessary financial information is provided to internal and external users.

12. Organizes work to analyze and evaluate the financial results of the organization’s activities and develop measures to improve the efficiency of financial management, as well as conduct internal audits, consider mutual claims arising in the process of carrying out financial and economic activities, take measures to resolve them in accordance with current legislation.

13. Manages the activities of the financial departments of the organization, organizes work to improve the skills of employees, provides methodological assistance to employees of the organization on financial issues.

14. Complies with internal labor regulations and other local regulations of the organization, internal rules and regulations of labor protection, safety precautions, industrial sanitation and fire protection.

15. Ensures cleanliness and order in his workplace.

16. Carry out, within the framework of the employment contract, the orders of the employees to whom he is subordinate in accordance with these instructions.

3. Rights of the financial director

The financial director has the right:

1. Submit proposals for consideration by the director of the organization:

— to improve work related to the responsibilities provided for in this instruction,

- on encouraging distinguished employees subordinate to him,

- on bringing to material and disciplinary liability the employees subordinate to him who have violated production and labor discipline.

2. Request from structural divisions and employees of the organization the information necessary for him to perform his job duties.

3. Get acquainted with the documents defining his rights and responsibilities for his position, criteria for assessing the quality of performance of official duties.

4. Get acquainted with the draft decisions of the organization’s management relating to its activities.

5. Require the management of the organization to provide assistance, including ensuring organizational and technical conditions and execution of the established documents necessary for the performance of official duties.

6. Other rights established by current labor legislation.

4. Responsibility of the CFO

The financial director is responsible in the following cases:

1. For improper performance or failure to fulfill one’s job duties provided for in this job description - within the limits established by the labor legislation of the Russian Federation.

2. For offenses committed in the course of their activities - within the limits established by the current administrative, criminal and civil legislation of the Russian Federation.

3. For causing material damage to the organization - within the limits established by the current labor and civil legislation of the Russian Federation.

Job description for financial director - sample 2019. Job responsibilities of the financial director, rights of the financial director, responsibility of the financial director.

In a commercial environment, the position of CFO is clearly considered very influential, since it determines the financial stability of the company and its market position. But there is no unity regarding what exactly falls within its competence.

Let's consider the main provisions of a typical job description for a financial director and explore the nuances of its functionality.

CFO – who is he?

The financial director belongs to the management team; he manages the financial flows of the enterprise. It is important to clearly define its functions, since other positions, for example, chief accountant, executive director, are directly related to finance - the “circulatory system” of any organization. Many companies even practice combining these positions or job functions.

Unlike other positions that deal with a firm's cash flow, the CFO coordinates it by sending management information to other managers. His main goal is to constantly ensure that the company’s profits grow and implement appropriate policies. To do this, the financial director must master many commercial instruments and act in the present moment, taking into account the experience of the past and the potential of the future.

Functions of the financial director

When drawing up a job description for a financial director, management often does not clearly separate his tasks from the tools with which he must achieve results. For example, budget control, financial accounting, credit management, etc. are often included in the functions of a financial director. The functions of a financial director are what he must accomplish through the use of certain financial instruments to achieve the above stated goal.

There are 5 groups of main functions of the financial director:

1. Providing financial support for business activities. Cash is the driving and nourishing force of any business. When they are not enough to make payments necessary for the activity, it is impossible to run a business: suppliers will not provide raw materials, workers will not work without wages, there is nothing to repair equipment, etc. Even profit in such a situation is secondary; it is important that the enterprise has the opportunity to ensure your current activities at any time. To achieve this goal, the financial director can use the following tools:
   • forecasting financial flows;
   • credit management;
   • attracting investors, etc.
2. Designing and ensuring relationships between governing structures. Without effectively performing this function, achieving others will be very difficult. It is clear that no one can ensure profit for an enterprise alone. And since the team acts within the framework of one goal, this activity must be coordinated. For these purposes, structural divisions have direct superiors, who must be “matched” with each other in the name of profit by the financial director.
3. Concern for the efficiency of the company. It would be wrong to assume that the CFO should be concerned about increasing profits. This indicator depends on the efficiency of the enterprise, and it must be increased by all means. This refers to the total efficiency in all areas of the company’s activities:
   • market research;
   • carrying out marketing policy;
   • carrying out production;
   • accounting and tax reporting;
   • sales of products, etc.

REFERENCE! Roughly speaking, the financial director increases the profit of the enterprise by ensuring that all employees of the enterprise work well, that is, with maximum efficiency.

4. Transferring the necessary information to the right people. For effective management policy, you need to have an array of up-to-date data. Since all planning in an enterprise is ultimately aimed at increasing profits, it is financial information that coordinates the results of using all other information flows - marketing, production, accounting, etc.
5. Ensuring the financial security of the organization. Any business activity has financial risks. The economic “health” of a company is based on its ability to meet all current financial obligations (see function 1). With the development of the company, additional risks are added related to the market situation, personnel problems, etc. The more developed the organization, the greater the number of risks it can threaten, but also the more resources it has to overcome them. The financial director is not involved in solving these problems, but has complete information and can assign appropriate tasks to competent persons and monitor execution.

CFO Tools

These are the processes that, as a result of their application, can ensure the fulfillment of the 5 designated functions. They are the ones most often written in job descriptions as duties.

1. Cash flow management for the company:
   • cost control;
   • planning the use of resources;
   • optimization of tax policy.
2. Strategic management of financial activities: the entire array of financial instruments is used for this.
3. Economic security:
   • financial risk analysis;
   • setting goals to reduce them;
   • control of the activities of authorized persons.
4. Financial and economic analysis of contracts concluded by the company.
5. Preparation and control of the status of financial statements.
6. Management of financial departments of the organization.
7. Interaction with HR department.
8. Representation of the company before contractors.
9. Public activity, including in the media.

Where do financial directors work?

All commercial enterprises, especially large ones, where coordination and planning of departments responsible for cash flows are necessary, are unlikely to be able to do without the position of a financial director. Most often this specialist is needed:

• in banking organizations;
• at manufacturing enterprises;
• on stock exchanges;
• in insurance, trust, investment companies;
• in various commercial organizations;
• in certain government agencies, etc.

If the organization did not previously have such a specialist, he is needed if:

• the manager is not fully aware of the direction of the financial activities of his enterprise (the business is “shaky”);
• the owner prefers to see the process of business activity and influence it, and not just record the results in reports;
• the activities undertaken to increase profits for a long time do not show profitability;
• additional control is needed from the economic planning department, accounting department, IT department and others directly related to finance;
• There are often late payments and debts;
• the profit received from the documents and funds in the account does not match, etc.

What is required from a potential CFO

As we see, small organizations and small companies cannot always afford to have a financial director on staff; sometimes an accountant or the general director himself can handle his functions. But a growing and large company needs this specialist, so the requirements for him are quite high, as is the proposed payment for his work.

To qualify for the position of CFO in any organization, a candidate must meet the primary minimum requirements:

• higher economic education in the specialty “Finance and Credit”, “Enterprise Economics”, “Accounting and Audit”, “Financial Management” or “Banking”;
• Proficient computer skills, knowledge of basic programs, especially 1C;
• knowledge in the field of tax, accounting and auditing;
• knowledge of basic legislative and regulatory documentation;
• oratorical and diplomatic skills;
• skills in preparing reports, presentations, public speaking;
• at least three years of work experience in a related specialty.

And there is a financial director of the organization, etc. However, there is another opinion that a financial director is a modern necessity for enterprises in the real sector of the economy. In this article we will try to understand all the prevailing opinions regarding the importance of the financial director, and also determine the cost of specialists holding this position.

Requirements for a person applying for the position of financial director

CFOs are not the most sought-after employees in the field of finance and accounting; there are traditionally few vacancies for them; in 60% of cases they are placed by large companies with more than five hundred employees. But this trend will change very soon.

According to the Superjob.ru portal, in the remuneration rating, the salary of the financial director is significantly ahead of the payment of other financial personnel, and their average market salary is comparable to the remuneration of the chief accountant, and sometimes exceeds it. This is not surprising, given the low supply/demand ratio of 1.7 resumes per vacancy.

Responsibilities of the Financial Director:

Development of the company’s financial policy, development of measures to ensure the financial stability of the company;

Strategic planning of the company's financial activities;

Development and implementation of a budgeting system;

Analysis of the financial and economic activities of the company;

Management of company financial flows;

Monitoring the work of the accounting service, economic and financial departments;

-: calculation, analysis, optimization;

Negotiating with financial and credit organizations;

Establishment of management accounting, preparation of management reporting;

Preparation of consolidated financial statements;

Participation in the examination of investment and business projects of the company;

Analysis and assessment of the company’s financial risks;

Participation in the automation of the financial department, in the implementation of ERP.

Salary offers and employer requirements

According to the Superjob.ru portal, the average salary offer for a financial director in Moscow is 185,000 rubles, in St. Petersburg - 167,000 rubles, in Volgograd - 110,000 rubles, in Voronezh - 110,000 rubles, in Yekaterinburg -140 000 rubles, in Kazan - 110,000 rubles, in Krasnoyarsk - 125,000 rubles, in Nizhny Novgorod -120,000 rubles, in Novosibirsk - 135,000 rubles, in Omsk - 120,000 rubles, in Perm - 110,000 rub., in Rostov-on-Don - 120,000 rubles, in Samara - 120,000 rubles, in Ufa - 110,000 rubles, in Chelyabinsk - 130,000 rubles.

In order to take up the post of CFO, you need to accumulate serious experience in the field of finance. As a rule, applicants are required to have at least two years of professional experience in the position of chief accountant. In-depth knowledge of accounting and tax legislation, methods of analyzing economic and financial activities, practical skills in accounting, tax and management accounting, as well as experience in passing tax and audit inspections are required. Salary offers for specialists without experience in top-level positions in Moscow start from 90,000 rubles, in St. Petersburg - from 80,000 rubles.

The second salary range involves more requirements for candidates in terms of practical experience: it is necessary to have at least one year of experience as a financial director, practical skills in the field of budgeting and experience in implementing a management accounting system. According to the portal Superjob.ru, salary offers for applicants who meet the specified requirements amount to 110,000–140,000 rubles. in Moscow, 100,000–130,000 rubles. in St. Petersburg.

Excellent knowledge in the field of financial management, strategic management skills, experience in attracting and managing borrowed funds, experience in companies of a certain specialization and at least three years of experience as a financial director allow you to qualify for a higher salary. In some cases, this may require additional education in the field of economics/finance/management, as well as skills in transforming reporting in accordance with international standards. Salary offers in this range in Moscow reach 220,000 rubles, in St. Petersburg - 200,000 rubles.

Today, accounting according to IFRS is no longer the prerogative of only large companies, banks and insurance organizations. According to Federal Law dated July 27, 2010 No. 208 - Federal Law “On Consolidated Financial Statements,” IFRS is applied only to the preparation of consolidated financial statements for an established list of organizations. Now non-state pension funds, management companies of investment funds, mutual funds and non-state pension funds, and clearing organizations will also report under IFRS. The day is not far off when all organizations will report according to IFRS.

In the context of accelerated globalization of the world economy, the topic of applying international financial reporting standards is especially relevant. Russia's accession to the WTO, attracting foreign investment to our country, searching for new and maintaining traditional markets for domestic products - all this dictates the need to study and use international financial reporting standards.

Indeed, business results are better visible from financial statements prepared in accordance with IFRS, and are well understood by investors around the world. Moreover, in more than 120 countries around the world, reporting is prepared on the basis of the application of IFRS.

Employers are willing to make the most attractive offers to financial directors with experience in a large company with significant financial turnover. The minimum experience as a financial director is 5 years. Depending on the company and the scale of the tasks, employers who have such requirements for candidates offer up to 500,000 rubles in Moscow, and up to 450,000 rubles in St. Petersburg.

Portrait of the applicant

58% of candidates for the CFO position are women. 98% of applicants have a university diploma. 25% of applicants speak English at a fluent or conversational level.

Epilogue

Financial director is a relevant profession in Russia in the context of an economic crisis. The knowledge of these specialists can become an additional factor in restoring the liquidity of enterprises.

It is no secret that in small companies one specialist can combine job responsibilities financial director with the responsibilities of chief accountant. In our sample job description for a financial director, we did not combine various functions (but if such combination is relevant for your company, we recommend that you also use it). Features of the job description of the financial director include the broad powers of this employee, so special attention should be paid to the section “Rights of the financial director.”

Job description of the financial director

I APPROVED
CEO
Last name I.O. ________________
"________"_____________ ____ G.

1. General Provisions

1.1. The financial director belongs to the category of managers.
1.2. The financial director is appointed to the position and dismissed by order of the general director of the company.
1.3. The CFO reports directly to the CEO.
1.4. The following employees report to the financial director: financial managers, financial analysts, financial controller.
1.5. During the absence of the financial director, his rights and responsibilities are transferred to another official, as announced in the order of the organization.
1.6. A person who meets the following requirements is appointed to the position of financial director: higher professional education (financial, economic) and work experience in a specialty in the field of organizing financial activities of at least 5 years.
1.7. The financial director must know:
- legislative and regulatory acts regulating the financial and economic activities of the enterprise;
- principles of organizing financial work at an enterprise;
- the procedure for drawing up financial plans, forecast balances and cash budgets, product sales plans (goods, services, works), profit plans;
- a system of financial instruments that ensure financial flow management;
- methods for assessing financial assets, profitability and risk;
- the procedure for short-term and long-term lending to an enterprise, attracting investments and borrowed funds;
- the procedure for distributing financial resources, determining the effectiveness of financial investments;
- principles of financial control;
- procedure and forms of financial settlements;
- principles and procedures of taxation, the tax system of the Russian Federation;
- financial and accounting standards and reporting.
1.8. The financial director is guided in his activities by:
- legislative acts of the Russian Federation;
- The company’s charter, internal labor regulations, and other regulations of the company;
- orders and instructions from management;
- this job description.

2. Job responsibilities of the financial director

The Financial Director performs the following job responsibilities:
2.1. Organizes the management of the movement of financial resources of the enterprise and the regulation of financial relations in order to most effectively use all types of resources in the process of production and sale of products (goods, works, services) and obtain maximum profit.
2.2. Determines sources of financing for the production and economic activities of the enterprise.
2.3. Directly negotiates with commercial banks, other credit institutions and other external organizations.
2.4. Organizes work to analyze the financial and economic state of the enterprise (analysis of financial statements, horizontal and vertical analysis, trend analysis, calculation of financial ratios).
2.5. Manages the assets of the enterprise and temporarily available funds.
2.6. Organizes research and analysis of costs for the purchase of raw materials and supplies, electricity consumption, transportation costs, trade commissions and other expenses.
2.7. Organizes work to develop a business plan for the enterprise.
2.8. Organizes work on budget planning, determining the budget structure, determining responsibility for budget execution, establishing procedures for coordination, approval and control of budget execution.
2.9. Organizes and ensures control over the implementation of financial plans and budgets in order to identify deviations from planned values, develop measures to eliminate non-production costs and cost-increasing factors, promptly adjust the budget and plan; for the correct expenditure of funds and the targeted use of own and borrowed working capital.
2.10. Organizes work to conduct financial analysis according to the following indicators: receipt of funds to the enterprise account for shipped products (goods) and services provided (work performed); dynamics of income from stock activities; payment of interest on loans; dividend payment; investment costs; the amount of available funds of the enterprise.
2.11. Based on the results of financial analysis, it ensures the development of proposals aimed at ensuring solvency, preventing the formation and liquidation of unused inventory, increasing production profitability, increasing profits, reducing costs of production and sales of products, strengthening financial discipline.
2.12. Determines the investment policy of the enterprise, taking into account: the state of the product market, the volume of its sales; financial and economic situation of the enterprise; technical level of production; combinations of own and borrowed resources; financial conditions for investment in the capital market; benefits received by the investor from the state; commercial and budgetary efficiency of investment activities; conditions of insurance and obtaining guarantees against non-commercial risks; etc.
2.13. Ensures timely receipt of income, execution of financial, settlement and banking transactions within the established time limits, payment of bills to suppliers and contractors, repayment of loans, payment of interest, wages to workers and employees, transfer of payments to banking institutions.
2.14. Ensures the development of the enterprise's tax policy, organizes the development of the tax budget.
2.15. Ensures the transfer of taxes and fees to the federal, regional and local budgets, to state extra-budgetary social funds in the manner prescribed by law.
2.16. Manages the development of financial accounting standards and the relationship with accounting (reporting forms not approved at the regulatory level; deadlines; information flow and document management systems, etc.).
2.17. Ensures the maintenance of records of the movement of financial resources and the preparation of reports on the results of financial activities in accordance with the standards of financial accounting and reporting, the reliability of financial information; controls the correctness of the preparation and execution of reporting documentation.
2.18. Organizes work on preparing reports on financial issues for managers and owners of the enterprise.

3. Rights of the financial director

The financial director has the right:
3.1. Represent, within the scope of his competence, the interests of the enterprise in relations with credit institutions, insurance and investment companies, tax authorities, other bodies and organizations on financial issues.
3.2. Sign financial documents, endorse all documents related to the financial and economic activities of the enterprise.
3.3. Participate in the preparation of draft orders, instructions, instructions, as well as estimates, contracts and other documents related to resolving financial issues.
3.4. Give instructions to the heads of structural divisions of the enterprise on issues of proper organization and conduct of financial work.
3.5. Establish job responsibilities for subordinate employees.
3.6. Request from the structural divisions of the enterprise information and documents necessary to fulfill his official duties.
3.7. Submit for consideration by the head of the enterprise proposals on the appointment, relocation and dismissal of subordinate employees from their positions, proposals on encouraging distinguished employees and on bringing violators of production, labor and financial discipline to disciplinary and financial liability.
3.8. Make proposals to the head of the enterprise to bring officials to material and disciplinary liability based on the results of financial audits.
3.9. Submit proposals for improvement of work related to the responsibilities provided for in these instructions for consideration by management.
3.10. Require the management of the enterprise to provide organizational and technical conditions and prepare the established documents necessary for the performance of official duties.

4. Responsibility of the CFO

The financial director is responsible for:
4.1. For failure to perform and/or untimely, negligent performance of one’s official duties.
4.2. For failure to comply with current instructions, orders and regulations on maintaining trade secrets and confidential information.
4.3. For violation of internal labor regulations, labor discipline, safety and fire safety rules.

The job description of the financial director establishes the responsibilities, functional responsibilities, and rights of the employee. The document contains qualification requirements for the employee, the procedure for his subordination, appointment to a position and dismissal from it.

Sample of a typical job description for a financial director

I. General provisions

1. The financial director belongs to the “managers” category.

2. The CFO reports directly to the CEO.

3. The dismissal or appointment to the position of financial director is carried out by order of the general director.

4. During the absence of the financial director, his responsibility, functional duties, and rights are transferred to another official, as reported in the order for the enterprise.

5. A number of employees report to the financial director: financial managers, analysts, controllers.

6. A person with a higher education and at least five years of experience in a managerial position is appointed to the position of financial director.

7. The financial director must know:

• tax, civil, labor, economic legislation;
• methodology for drawing up budgets and plans;
• organization of financial work at the enterprise;
• methods for assessing profitability, risk, assets;
• financial flow management tools;
• the procedure for lending, attracting investments, distributing resources, determining the effectiveness of investments;
• financial settlement procedure;
• accounting standards.

8. The financial director is guided in his activities by:

• orders and instructions from management;
• Charter of the enterprise;
• regulatory legal acts of the Russian Federation;
• internal labor regulations, other regulations of the enterprise;
• this job description.

II. Job responsibilities of the financial director

The Financial Director performs the following functional responsibilities:

1. Manages the financial resources of the enterprise for their most effective use in the process of the company’s activities.

2. Analyzes the financial and economic condition of the enterprise.

3. Establishes research and analysis of costs for the purchase of raw materials, materials, energy consumption, transport costs, trade, and other costs.

4. Creates a business plan for the enterprise, monitors the execution of budgets and financial plans.

5. Identifies deviations from planned values, develops measures to eliminate non-production costs and factors, and promptly change the budget.

6. Develops the tax budget of the enterprise.

7. Controls the correct expenditure of funds and the use of credit funds.

8. Analyzes the dynamics of income from the activities of the enterprise, dividend payments, interest on loans.

9. Investigates investment expenses and the amount of available funds of the enterprise.

10. Interacts with accounting departments.

11. Prepares financial reports for managers and owners of the enterprise.

12. Organizes budget planning and appoints persons responsible for its implementation.

13. Manages the assets and free cash of the enterprise.

14. Determines the sources of financing for the enterprise’s activities, its investment policy, taking into account the volume of product sales, the market situation, the technical level of production, and the economic situation.

15. Manages the development of financial accounting standards: reporting forms not approved at the legislative level, information exchange and document flow systems.

16. Conducts negotiations with commercial banks, other financial institutions and organizations.

17. Ensures timely execution of financial, settlement, banking transactions, receipt of income within the established time frame.

18. Facilitates timely payment of bills to suppliers and contractors, repayment of loans, payment of wages, and transfer of payments to banking institutions.

19. Prevents the formation of unused inventory items.

20. Maintains financial discipline, increases production profitability, and the enterprise’s compliance with the tax legislation of the Russian Federation.

21. Keeps records of the movement of funds and generates reports on the results of the financial activities of the enterprise in accordance with accounting standards.

22. Promotes the timely transfer of taxes and fees to state budgets, the correct preparation and execution of reporting documentation.

III. Rights

The financial director has the right:

1. Represent the interests of the enterprise in relations with counterparties and government agencies on financial issues.

2. Sign documents related to the financial activities of the enterprise.

3. Participate in the preparation of documents.

4. Send instructions to the heads of departments of the enterprise on issues of conducting financial activities.

5. Determine the job responsibilities of subordinate employees.

7. Submit for consideration by the manager ideas about personnel changes, proposals for incentives, disciplinary and financial penalties for employees, proposals for improving the work of the enterprise.

8. Demand that the management of the enterprise provide the conditions necessary for the performance of their official duties.

IV. Responsibility

The CFO is responsible for:

1. Violation of regulations, decisions, and other governing documents of the enterprise.

2. Improper performance of one’s own official duties.

3. Causing material damage to the enterprise, its employees, contractors, or the state.

4. Transfer, disclosure of personal data, trade secrets, confidential information.

5. Providing false and unreliable information to employees of the enterprise.

6. Violation of safety provisions, labor discipline, internal labor regulations, fire protection.

7. Conducting meetings unauthorized by management, representing the interests of the enterprise.