The Role of Finance Manager The role of finance manager in the company is an important one.
The function of the finance manager is not confined to the management and making of the accounts but it also plays a major role in dividend decisions, capital budgeting decisions, capital structure outlay of the firm, decision related to the merger and acquisitions, and all the investment decisions of the firm. Thus the finance manager plays an important role in any business enterprise. The different decisions can be classified into: 1. The routine working capital and cash management decisions.
2. Dividend decisions 3.Investment decisions 4. Financial forecasting 5. International financial decisions 6.
Portfolio management 7. Risk management 8. Cash management while the dividend decisions are related to deciding the amount that is to be distributed to the shareholders, the investment decisions relate to the investment that the company makes in different projects so as to expand the business and improve its profitability. The finance manager here appraises the various projects and judges their profitability. The manager also decides how much capital should be employed in the project and which sources are the best for financing the project.Such decision also extends to the investments in the foreign and the local market which requires a thorough knowledge of the market trends thus the role becomes important. The top management takes the advice of the finance manager for the capital structure outlay of the firm.
On the monthly and yearly basis the manager looks into the inventory requirements, daily cash requirements, and the objectives of the firm and then plans a budget accordingly for different departments so that they receive optimum amount to carry out the activities and achieve the business bjectives. On the basis of the previous year budget utilization, different reviews and study reports prepared by the research department, finance manager prepares a budget and allocate the recourses for the coming year. With globalization the role of finance manager is not confined to the regional boundaries but has spread to the activities involving taking the decisions regarding mergers and acquisitions, establishing of the subsidiaries and investing in the foreign markets.Here the finance manager looks into the profits that the business can generate from establishing the subsidiary, what should be the capital outlay of the firm, what tax benefits the firm can avail by establishing and expanding into the foreign market? A finance manager thus not only acts as a person maintaining the accounts but also plays a major role in the management of portfolio, risk, cash and capital. The role of HR Manager | | | The Center’s HR staff, particularly the HR Manager, has a key role in five aspects of preventing and stopping harassment and discrimination.These aspects are: * supporting management by developing Center policy and procedures for preventing and stopping harassment and discrimination; * educating staff, particularly through induction and retraining, with specialized training for line managers; * assisting management in establishing avenues of assistance at all duty stations for staff members who have experienced harassment or discrimination; * providing support and guidance to people directly involved in harassment and discrimination issues; and * providing guidance to committees investigating harassment and discrimination complaints.Supporting management in the development of the Center’s policy and procedures 2 HR has a key role in developing, reviewing and refining policies and practices and referring them to senior management for decision. These guidelines provide a model policy and a range of sample practices to aid HR in this function.
However, it remains up to each Center’s HR Manager to: * undertake whatever refinement/revision is necessary for the practices to mesh with other relevant policies (e. . Code of Conduct, disciplinary policy, performance evaluation, rewards, etc. ), and * recommend their adoption by senior management and, where revisions to the Center’s Personnel Policy Manual are involved, prepare appropriate recommendations to the Center Board. Educating staff 3 Prevention of harassment and discrimination is key to establishing a workplace of dignity.This requires careful planning to ensure that: * all new appointees, including contractors, consultants and, particularly, line managers and supervisors have relevant policies explained to them as part of their induction, early in their appointment; * appropriate retraining occurs across the workforce from time to time, to reinforce staff understanding of the purpose, ramifications and implications of sustaining a workplace of dignity; * line managers receive specialized training on harassment and discrimination issues because line managers are the “first line of defense” and thus must be acutely aware of harassment and discrimination issues, act as role models, be alert to the emergence of harassment and discrimination problems in their workgroup, be aware of their responsibilities to act expeditiously and appropriately, and be empowered to do so; and * the above requirements are met effectively, not just at Center headquarters but across the Center’s entire spectrum of regional and country offices, no matter how small the group.
Providing support and guidance to people directly involved in harassment and discrimination issues HR Managers are usually the ultimate sources of expert advice and guidance on harassment and discrimination in their Centers. They need to be knowledgeable of Center’s policy but also have an understanding of harassment and discrimination beyond the policies themselves. HR Managers need to be alert to potential harassment and discrimination issues and act appropriately, either directly or through the appropriate line manager/s.They also must be able to give impartial and expert advice to people involved in harassment and discrimination cases, both complainants and alleged offenders. Victims of harassment in particular may need support and reassurance about the Center’s policy and procedures as well as assurance of confidentiality. The HR Manager should identify appropriate sources of professional counseling for victims at/for each duty station.
Assisting management in establishing avenues of assistance at all duty stations While the HR Manager is usually the ultimate source of expert advice and guidance on harassment and discrimination in each Center, she/he obviously cannot be at every duty station simultaneously. The HR Manager may even operate in a different time zone than some of the Center’s duty stations.Consequently staff members at all duty stations who may be experiencing harassment need to have immediate avenues of assistance. These would either be at their duty station or for their duty station if it has a very small staff. A good contingency plan for avenues of assistance will have (but not necessarily be limited to) the following features: * one or more Local Harassment Advisors; * a hotline for reaching Center HR personnel with accessible phone numbers for the HR Manager and a specified alternate for harassment matters; * documented information about harassment; * access to professional counseling.
The sample practice: “Avenues of Assistance for Staff Who Have Experienced Harassment or Discrimination” contains a more comprehensive explanation. 0 While it is senior management’s responsibility to establish avenues of assistance, it will be the HR Manager who works out the detail of these arrangements for each duty station, particularly: * informing all staff about the avenues of assistance at each duty station; * establishing the linkages from the Local Harassment Advisors to Center HR for training and advice; * establishing the linkages from local management to Center HR for policy advice and practical advice on managing incidents; * establishing the telephone hotline to Center HR that ensures that someone knowledgeable can respond to questions from all duty stations during normal business hours for those duty stations; * transforming relevant sections of the Personnel Policy Manual (or equivalent) on harassment and discrimination into reader-friendly brochures, Web pages, etc. ; * establishing arrangements for providing professional counseling to victims of harassment.Providing guidance to Panels investigating harassment and discrimination complaints 11 When harassment or discrimination culminates in a formal complaint, the HR Manager has a key role in establishing and supporting the Investigating Panel.
The HR Manager typically is the common link across Panels, being the one person in the Center who sits on all harassment and discrimination investigation Panels. Therefore she/he not only needs expert knowledge of the Center’s investigation process, but she/he also needs to understand the basic requirements of conducting effective investigations. The HR Manager needs both forms of knowledge in order to provide support to Panel members and chairpersons.