Within an organization, financial management responsibilities primarily lie with the Chief Financial Officer (CFO) , who is the top executive responsible for financial decision-making, planning, risk management, record- keeping, and financial reporting. The CFO typically reports to the CEO and board of directors and oversees the finance unit, including finance directors and managers
. Supporting the CFO, financial managers handle the day-to-day management of the company’s finances. Their duties include calculating capital requirements, forming capital structures, investing funds, allocating profits, managing cash flows, and conducting financial control through forecasting, ratio analysis, and risk management
. In larger organizations, the financial management team may include controllers, accountants, budget analysts, and other finance professionals who assist in executing financial strategies and ensuring compliance with regulations
. In summary, financial management is a collaborative effort led by the CFO and supported by financial managers and their teams, all working together to ensure the organization’s financial health, growth, and compliance with legal and strategic objectives.
