CareerCoach
How to become finance director in five years
The role of a finance director is one of the most prestigious and influential positions within an organisation. Achieving such a coveted role in just five years requires a strategic and dedicated approach. Habiba Khatoon, director at recruitment consultancy Robert Walters, explains how
As a finance director (FD), you’re essentially the face of finance within a company – it’s about striking the balance between your technical know-how, commercial and business intelligence and leadership skills to ensure your company’s financial record is immaculate. Five years is a short timeframe in which to attain such a senior role. Here’s how it can be done.
Year one
• Establish yourself in your organisation: Be alert and eager, and open yourself to as many opportunities as possible – developing a varied skillset, travelling with work and climbing the ranks, as well as increasing your knowledge and understanding of what a strong finance institution looks like from within.
• Seek out a mentor: Mentors are incredibly helpful sources of wisdom for ambitious finance professionals – a more senior head can provide a wealth of ‘been-there-and-done-that’ knowledge that will prove invaluable throughout your journey to FD and the important decisions and milestones you’ll encounter along the way.
Year two
• Set clear goals: Define your career goals and establish a clear vision of where you want to be in five years. Break down your goals into short-term and long-term objectives, ensuring they align with your overall career ambitions.
• Excel in your current role: Consistently exceed performance expectations in your current position. Volunteer for challenging assignments and show your ability to handle responsibilities beyond your job description.
Year three
• Continuous learning: By now you’re probably noticing a trend: the learning never stops! Stay updated on industry trends, regulations, and technological advancements. Attend workshops, seminars and online courses to enhance your knowledge and stay ahead in the rapidly evolving financial landscape.
• Show leadership skills: Take on leadership roles within projects or teams to showcase your ability to lead and manage others. Develop strong communication and interpersonal skills, as effective communication is crucial for leadership positions.
• Grow your commercial acumen: Having a wealth of commercial knowledge is what sets FDs apart from many other finance roles, this means knowing your business and industry inside out. Working at company headquarters, playing a part in mergers and acquisitions and even working overseas can all help you gain more commercial know-how.
• Plan any career moves wisely: Don’t be persuaded to abandon ship by the offer of more money – always look towards the bigger picture and choose roles that will add to you repertoire. You need to be fulfilling positions that don’t only pay but arm you with the skills that will make you an ideal candidate for FD.
Year four
• Strategic moves: Look for opportunities to move laterally within the organisation to gain exposure to different departments and functions.
• Deliver on KPIs: By now you’re in a senior role such as finance manager, head of finance and similar. Particularly important is gaining hands-on experience in these roles that involve leading and being responsible for teams, delivering to KPIs and adding to the overall value of a business.
• Understand other departments: Having a holistic approach is important as an FD in any size of organisation – this means having a clear oversight of other departments within your company, how they interact with your finance department and how you can best optimise your relationship with them.
Year five
• Position yourself as a strategic thinker: Develop a strategic mindset by understanding how financial decisions impact the overall success of the organisation. Showcase your ability to contribute to the company’s long-term vision and goals.
• You have a clear track record: You can point to all the places where you have improved and grown your company’s financial health as well as examples of where you’ve improved or completely overhauled current finance practices to drive innovation.
Optimise your CV with
• A professional summary that clearly highlights your trajectory as well as future goals and ambitions.
• Attention drawn to role-critical skills: finance-specific technical skills, commercial and industry know-how as well as a anthology of softer skills for successful leadership.
• Employment history backed up by key metrics – you’ve clearly explained key achievements and key successes
• Keywords: ATS scanners are used by many companies to weed out weaker applications by only selecting those who have included key words which correlate to the applicant having the experience and skills.
How to become finance director in five years
The role of a finance director is one of the most prestigious and influential positions within an organisation. Achieving such a coveted role in just five years requires a strategic and dedicated approach. Habiba Khatoon, director at recruitment consultancy Robert Walters, explains how
