A Finance Business Partner is key to a senior management team, advising non finance colleagues on the financial impact of business decisions. The role of a Finance Business Partner is ideal for a commercially minded senior finance professional who is looking to take on more responsibility in the decision making for an organisation.
What makes a good Finance Business Partner?
A good Finance Business Partner will be an experienced and either qualified or qualified by experience finance professional with a strong understanding of commercial requirements and the ability to analyse business needs from a financial point of view.
A Finance Business Partner’s key responsibility is to advise non finance business partners and to influence decisions strategically to improve the profitability of the organisation. Being a confident and strong communicator is essential in this role as you will be required to explain reasons for any financial decisions and professionally and confidently challenge any decisions that don’t financially benefit the business.
Finance Business Partners must have the ability to build lasting relationships with key stakeholders and directors in order to gain trust and work effectively as a senior team with a mutual understanding of the business needs and routes to achieving mutually agreed goals.
Other key duties of a Finance Business Partner
- Analyse financial aspects of a business, report and present to stakeholders, senior management and directors
- Cost analysis
- Advise non finance decision makers
- Manage budgets
- Track and identify any financial risk to the business
- Planning and forecasting
- Provide commercial insight and industry knowledge to aid in decision making
- Manage a team of finance professionals
- Assisting in the planning of a business strategy
Most organisations require their Finance Business Partner to be a member of a qualified accounting body such as CIMA or ACCA, learn more about these memberships here:
The average salary for a Finance Business Partner in the East Midlands - £45-80k PA, however this might differ depending on the organisation.