Operational Finance: Keeping the Business Running

Operational finance roles are the backbone of a company’s financial health, focusing on the day-to-day financial activities that keep the business running smoothly. Unlike roles that focus on long-term strategy or investment, operational finance professionals are immersed in the current reality of cash flow, revenue recognition, and cost control.

Key Responsibilities

A key element of operational finance jobs is managing the financial transactions of the company. That includes processing accounts payable and accounts receivable, managing the general ledger, and ensuring compliance with accounting standards. You’ll also be involved in budgeting and forecasting, variance analysis, and preparing financial reports that track performance against targets. Furthermore, maintaining strong internal controls to prevent fraud and errors is vital.

Common Job Titles

Operational finance encompasses a wide range of job titles, each with specific responsibilities. Common positions include:

• Accounts Payable/Receivable Specialist: Processes invoices, makes payments, and manages customer accounts.
• General Ledger Accountant: Maintains the accuracy and integrity of the general ledger.
• Financial Analyst: Analyzes financial data, prepares reports, and supports decision-making.
• Budget Analyst: Assists in the budgeting process, monitors spending, and identifies variances.
• Controller: Oversees the accounting operations of a company.
• Finance Manager: Manages a team of finance professionals and oversees financial operations.

Skills and Qualifications

To succeed in operational finance, you’ll need a strong foundation in accounting principles, along with excellent analytical and problem-solving skills. Proficiency in accounting software (like SAP, Oracle, or QuickBooks) and spreadsheet programs (especially Excel) is crucial. Communication skills, both written and verbal, are essential for explaining financial data to non-financial stakeholders. A bachelor’s degree in accounting, finance, or a related field is typically required, and professional certifications like CPA or CMA can be beneficial.

Career Path and Opportunities

Operational finance provides a solid foundation for a variety of career paths. You can specialize in a specific area, such as accounts payable or budgeting, or you can progress to more senior management roles. Many operational finance professionals move into roles like controller, finance manager, or even CFO. The experience gained in operational finance is valuable in any industry and can open doors to a wide range of opportunities.

Why Choose Operational Finance?

If you enjoy working with numbers, solving problems, and contributing to the smooth operation of a business, operational finance may be the perfect career path for you. It’s a challenging and rewarding field that offers opportunities for growth and advancement. You’ll have a direct impact on the company’s financial performance and will play a vital role in its success.