what is a VP finance (large enterprise)?
Companies have access to a range of financial resources and handle huge cash flows. Therefore, they require a VP finance to distribute and manage the finances. As a VP finance, you oversee an organization's finances. You ensure the company's financial health by managing investment activities and developing the organization's long-term financial goals.
As a VP finance, you are responsible for budget planning and distributing financial resources to various departments. You also offer advice to the executive management, helping them make the best business decisions for the company. Most of your duties revolve around presenting financial reports and offering insights into financial decisions made by the company, which requires analytical ability and exceptional communication skills.
While your main role is to monitor the company’s finances, you also analyze data on investment activities to ensure the organization is getting returns. You should also be familiar with the financial requirements of your company. For instance, in the public sector, you require expertise in government appropriations, while in other industries, you need knowledge of tax laws.
Would working as a VP finance suit your analytical and investigative skills? Then read on to find out what competencies and qualifications you need to thrive in a VP finance role.
view jobs near youaverage VP finance (large enterprise) salary
Would you like to know what a VP finance earns? Where the highest salaries are paid for a VP finance? Then check out this VP finance salary page and find out all about the salary of a finance manager in the USA.
factors affecting a VP finance salary
As a VP finance, your earnings depend on your position in the company and the responsibilities involved. In large organizations, finance managers are in charge of substantial resources. You could be the VP finance (large enterprise) of one division or supervise the financial resources of the entire company. When you are the VP finance, you earn more due to the complexity of your duties. Holding an executive position also comes with additional benefits that boost your earnings.
The industry you work in also influences your earnings. When you work in the government sector, your salary depends on your responsibilities and the size of the institutions you manage. VP finance (large enterprise) in the private sector generally earn higher salaries.
Your salary is also based on your educational qualifications and work experience. As an assistant finance manager, you earn a lower salary, which improves as you gain experience. Improving your qualifications with professional certifications also increases your earning potential.
types of VP finance (large enterprise)
Some of the types of VP finance include:
- corporate VP finance: As a VP finance in charge of a company's finances, your duties include financial planning and analysis. You also manage the investment and financial obligations of the corporation.
- investment manager: An investment manager works in banks, firms, and other financial institutions. You are responsible for managing the investment portfolios of the organization. You analyze market trends and make investment decisions.
- treasury manager: As a treasury manager, you are responsible for the organization's cash liquidity. Companies or financial institutions rely on your expertise to ensure cash flow management. Your duties also include managing relationships with banks and evaluating debts and financing.
- risk manager: A risk manager is responsible for evaluating and managing potential risks that affect the company's financial health. You develop risk management strategies, ensure compliance with regulations, and monitor financial performance.
- financial controller: A financial controller oversees the daily financial activities of the company. You supervise financial accounting and reporting by ensuring financial statements comply with accounting standards.
working as a VP finance (large enterprise)
If you are good with numbers and interested in working in finance, check out the duties and responsibilities of VP finance.
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VP finance (large enterprise) job description
The specific tasks of a VP finance depend on the company you work for. However, the typical duties of VP finance include:
- coordinating finances in the company: As a VP finance (large enterprise), you ensure the company's finances are in order. This includes preparing and managing budgets and monitoring expenditures in the organization. You also forecast future cash flows and provide input on funding requests and investments. Since you oversee the finances, you analyze the accounting reports and ensure they comply with the regulations.
- analyzing the market: In your role as a VP finance, you have access to huge volumes of data on the company's financial performance. Your job is to study market trends and competitors by analyzing the data to identify business growth and expansion opportunities. If your company trades on the stock market, you track trends and advise the management team.
- handling negotiations with banks: A business needs enough liquidity to meet its requirements. Your organization can raise funds through equity or debt. When acquiring financing from banks, you handle the negotiations and maintain the debt and equity ratio.
- allocating funds to various departments: As a VP finance, you manage a company’s funds. That means you make financial decisions from the distribution of funds to investment plans. You allocate funds to long-term and short-term assets and investments.
- compliance and regulation: Since you are familiar with financial regulations and laws, you ensure the company complies with the legislation. You stay updated on the changing regulations and adjust the company's policies and procedures accordingly.
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VP finance (large enterprise) work environment
VP finance work in diverse industries, from healthcare to banks and government agencies. Due to the diversity of business sectors, your work environment depends on the industry. In a corporate setting, you work in an office environment, attending meetings and collaborating with a team of accountants and other professionals.
In a bank, you work in a branch or the corporate office, managing clients' investment portfolios. In a financial institution, you interact with clients and help them make sound financial decisions. The role involves traveling since you attend conferences and offsite meetings.
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who are your colleagues?
VP finance collaborate with various professionals in the company. You are likely to work with accounting and financial experts, including financial analysts, accountants, accounting technicians, and financial accountants. You also interact with marketing managers, human resource managers, and operations managers. In a non-profit organization (NPO), you work with program managers and field officers.
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work schedule
The typical work schedule of a VP finance is 40 hours a week. While you work the regular office hours from Monday to Friday, you sometimes work outside office hours. You meet clients for dinner to discuss investments or go with potential investors to play a round of golf. That means you occasionally work overtime or during the weekend. During the tax season, you are likely to work additional hours to complete your time-sensitive duties.
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job outlook for VP finance (large enterprise)
The demand for VP finance in the U.S. is increasing, with a projected growth rate of 16% by 2032. That means you have promising career prospects as a VP finance. Needless to say, you can join the accountant or assistant finance manager role before progressing to senior finance manager positions. Consider specializing in a particular area of finance, such as risk management.
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benefits of working for randstad as a VP finance (large enterprise)
Working through Randstad offers you a range of benefits:
- being paid weekly
- flexibility
- always a contact person you can fall back on and ask for help from
- many training opportunities
- a range of jobs in your area
Want a permanent contract? But you wonder why it would be interesting for you to work with a staffing company? A temporary job as a VP finance is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too!
VP finance (large enterprise) skills and education
If you want to become a finance manager, you need to earn at least a bachelor’s degree in finance, accounting, or other business field. In the U.S., a bachelor’s degree in accounting, finance, or other business-related course takes around four years to complete. Furthermore, the degree may include an internship program that gives you workplace experience. While working your way up to VP finance with a bachelor’s degree is sufficient, get ahead of the competition by getting a master’s in business administration to build your leadership skills. Your degrees, paired with relevant experience in the industry, contribute to your success as a VP finance.
It is important to note that a number of employers in the U.S. prefer to hire and train finance managers from within the ranks of the company. That said, you have to demonstrate success and talent in lower-level jobs because this is one of the sure-fire ways to work your way up to management roles. Learning to become a finance manager does not end with a bachelor’s degree in a business-related course; you should also strive to earn a master’s degree in economics, business administration, or finance since this can help you stand out from the competition during an interview for a role in finance management.
skills and competencies
You need both soft and hard skills to become a successful VP finance. Additionally, as a VP finance, you will have to rely on your personal attributes and technical skills to excel in your role. These skills include:
- analytical skills: Having an analytical mindset is valuable for VP finance. You rely on your analytical skills to identify problems and find solutions. Analytical skills are also useful in analyzing market trends and finding investment opportunities.
- leadership skills: You are a team leader who oversees the entire finance department. Your leadership skills are useful in delegating tasks and motivating team members toward reaching a common goal.
- communication skills: VP finance communicate and liaise with various people. For instance, you deal with cross-functional teams, executive managers, and clients. Good communication and presentation skills are important in order to break down financial information into understandable language.
- interpersonal skills: Companies thrive on teamwork. As a VP finance, it is crucial to maintain good relationships with other employees. Be polite, empathetic, and a good listener.
You should also have skills in budgeting, forecasting, mathematical proficiency, and excellent problem-solving abilities. The project management skill is key because it allows you to handle several projects at the same time. Ideally, as a VP finance, you need to delegate tasks when necessary and ensure employees complete the work as anticipated.
FAQs about working as a VP finance (large enterprise)
Here you will find answers to the most frequently asked questions about VP finance.
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why should I work as a VP finance?
If you are looking for a career where you will help people become successful in what they do, then a finance management job should be a frontier for you. It offers new opportunities and challenges, which when you overcome them, build you as a person as well as sharpen your skills.
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are VP finance in high demand in the U.S.?
Yes, VP finance are in high demand in the United States because every company, including new ones, wants to run smoothly. To achieve this, a VP finance supervises and oversees how employees carry out their duties.
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what is the number of finance managers in the U.S.?
It is estimated that there are 580,400 finance managers in the U.S. The U.S. Bureau of Labor Statistics expects this number to grow by 16% from 2022 to 2032.
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which state hires the most finance managers?
A report released by the U. S. Bureau of Labor Statistics shows that California leads with 99,340 financial manager jobs. Next is Texas (57,680), New York (55,560), and Illinois (44,300).
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what should motivate me as a VP finance (large enterprise)?
As a VP finance, your ultimate goal should be to maximize the profits of an organization by making sure everything is running as imagined. Having said that, maximizing wealth for the company you work for should be a motivating factor.
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how do I find a job as a VP finance (large enterprise)?
Applying for a VP finance job is easy: create a Randstad profile and search our VP finance jobs for vacancies in your area. Then simply send us your CV. If you do not have a resume, no worries. Just check out our resume builder. This state of the art tool will help you to create your own resume. Need help with your application? Check out all our job-hunting tips!
