THE FINANCE DEPARTMENT

The CFO/Finance Director of a bank reports to the CEO and holds one of the most important roles in the management team of the bank.

A major part of the finance function’s role involves the production of timely information for management, regulators, shareholders and other investors, including:

Financial information:

  1. Management accounts, typically monthly
  2. Key financial data, typically daily
  3. Quarterly/six-monthly results for shareholders and investors
  4. Annual accounts and the annual report for shareholders and investors. This is typically prepared in partnership with other members of senior management including the CEO and the heads of PR and investor relations
  5. Regular reports for the supervisory authorities

Meetings

High-level meetings with members of the management team, the audit and risk committee, investors, regulators and auditors are also a regular part of the CFO’s role. These include:

  • Executive committee and board meetings
  • Meetings with current and prospective investors
  • Meetings with the business/financial media
  • Meetings with external auditors
  • Meetings with the audit and risk committee
  • Meetings with supervisors
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