Narrative of a “professional financial planner” career responsibilities, & duties,
Published on: Mar 3, 2016
Transcripts - Narrative of a “professional financial planner” career responsibilities, & duties,
Narrative of a “professional Financial Planner” career- Responsibilities, & Duties,
Summary: Financial planning designations offered by the insurance and accounting
industries, respectively. Even if your planner has one of these designations, you're not
home free. It generally takes years of experience and ongoing education not to mention
integrity and ethics to become a truly good planner
A financial planner helps the client in risk management by assisting him/her in choosing
suitable insurance schemes. He helps plan for future by providing well-suited investment
options. A financial planner helps the client ensure financial independence on retirement
What is financial planner?
A financial planner is a professional who helps a person deal with his/her financial issues.
A financial planner helps a person in areas such as personal financial planning, investment
planning, risk management and insurance as also his/her cash flow management.
About the financial planner
A personal financial Planner is entrusted with the job of evaluating the performance of
companies or that of a portfolio of securities and providing valuable guidance to
individuals regarding the suitability of investments. In other words, a financial Planner is
responsible for asset management and financial planning. Analysis and forecasting as well
as budget and grant preparation and accounting. The incumbent will prepare periodic
budget vs. actual analyses, will monitor and analyze research grant spending and plans
for future spending, and will prepare financial reports for funding agencies
Financial Planner Career Overview:
A Financial Planner advises individuals on setting personal financial goals and strategies.
Many work independently or in small firms, though larger financial services firms either
are adding Financial Planners to their staffs or are insisting that their Financial
Advisors (or Financial Consultants) also become certified as Financial Planners
A Bachelor's Degree is expected for a Financial Planner. Coursework in finance,
accounting and/or economics is helpful, though not required. Strong quantitative and
analytic skills are essential. An MBA may be valuable in the hiring process, depending on
Requirements to function as a Financial Planner vary by state. Even in jurisdictions where
it is not mandated by law, passing the exam to become a Certified Financial Planner (CFP)
is highly advisable. The CFP designation increases credibility and marketability, both to
employers and to clients.
Generally Salary Range:
As per the Princeton Review, average salaries for Financial Planners can range from
$20,000 starting to $40,000 for those with 5 years' experience, to $90,000 for those
with 10-15 years’ experience
Responsibilities & Duties of a professional Financial Planner:
Under the direction of the Chief Technology Officer, this position provides planning,
guidance, and oversight of the IT department’s budget development, license and asset
management, legal and contractual adherence, performance monitoring and improvement,
operational and financial reporting, and internal financial controls. The position serves as
a high-level advisor on a broad range of financial and management matters for the
department. The position directly supervises clerical staff, and provides indirect
guidance to staff department-wide. This is a “hands-on” supervisory position in a diverse
and fast-paced environment. What are the duties of a financial planner?
Duties and responsibilities of a financial planner are as follows
A Financial Planner helps clients create personal budgets, control expenditures, set goals
for saving and implement strategies for accumulating wealth. He or she may have
working relationships with Financial Advisors, Investment Managers and/or Mutual Fund
Companies, utilizing these specialists for the actual investment of their clients’ funds.
The job requires keeping current about developments in financial products, tax laws and
strategies for personal financial management, particularly with respect to retirement
plans and estates. Success also requires sales ability, both in the acquisition of new
clients and in the development of new ideas to improve the financial situation of existing
A financial planner studies the different aspects of the financial picture of his/her
client and provides a suitable financial solution. Some financial planners deal with the
various facets of personal finance, while others specialize in fields like risk management
or retirement planning.
The job of a financial planner can be described by means of a 6-step process given by
• The first step is of setting financial goals with the client.
• The second step includes the gathering of relevant financial information from the
client. The •Third step is of analyzing the gathered information, which is followed by the
creation of a financial plan.
•The last two steps include tasks such as implementing the plan’s strategies and
monitoring the implementation of the plan.
Financial planning is one of the most speedily growing industries as it deals with the
management of the most important means of living, which is money
The primary responsibilities of this role are to provide the financial information and
associated analysis necessary to manage and optimize company manufacturing
performance. This is a global role and reports to the Commercial Finance Director of the
company with dotted lines to two other senior corporate officers. The selected
candidate must be willing to proactively engage with senior managers to constructively
challenge them in the development of their plans and to assist them in managing
performance to deliver these plans. Specific responsibilities include
A. Budgeting, Forecasting and Planning
1. Coordinate the production of a zero-based, bottom-up Annual Budget and long range
company plan for the various manufacturing locations
2. Co-ordinate three in-year re-forecasts to the same level of detail as the annual
3. Ensure all manufacturing locations update monthly full year forecasts
4. Ensure that the numbers produced by the Global FP&A team are recognized
throughout the organization as the ultimate reference point
B. Performance Management
1. Work with global functional leaders of Commercial Finance, Operations, Supply Chain
and IT/MIS to identify.
2. Continuously monitor and improve the quality of the Period Management Accounts
(PMA) report in order to ensure that relevant, actionable information is headlined.
3. Coordinate the monthly PMA review process, ensuring insightful commentary and
analysis is delivered in standardized form, from all manufacturing locations
4. Provide monthly analysis and commentary on the company’s operations consolidated
financial and commercial performance, for distribution to senior management, in the
form of a monthly performance pack
C. Decision Support
1. Driving appropriate financial disciplines, developing financial capabilities and providing
training, coaching and mentoring of finance skills to non-finance management
2. Contributing to the development of appropriate management information systems and
The FP&A manager must establish a collaborative working relation with his/her peers
and other members of the Global Finance Team, comprising other members of the
Commercial Finance team, Group Financial Control; regulatory, legal, fiscal and socio-
At a glance:
01. Approves payments, purchase authorizations and other financial transactions to
ensure compliance with staff rules, financial rules and implementing instruments
02. Supervises the preparation of the end of month accounts before forwarding them to
03. In close coordination with Field/Sub Offices/Programmed Section, maintains a
system to monitor and forecast cash requirements to meet administrative and project
expenditures. Establishes monthly cash requirements for the office and requests timely
replenishments from Headquarters.
04. Constantly reviews banking arrangements to ensure timely transfer of funds and
minimize exchange loses and bank charges;
05. advises the head of office on all budgetary and financial matters;
06. Briefs new staff members or staff assigned to the Field on finance matters;
07. In close coordination with Field Offices, coordinate replies to finance related audit
08. Normally supervises and coordinates the work of GL staff;
09. Undertakes other duties as required.
10. Performs other duties/projects as assigned/required
Conclusion: To perform this job successfully, an individual must be able to perform each
essential duty satisfactorily. The requirements listed below are representative of the
knowledge, skill, and/or ability required. Reasonable accommodations may be made to
enable individuals with disabilities to perform the essential functions. Previous
experience accounting for grants and contracts (Government, Foundations and Private) is
required. Must be self motivated with the ability to work independently and to deal with
complex accounting issues with little supervision Familiarity with government grant