A Contemporary Roles and Challenges of Finance Manager

Abstract

Financial manager is the person who has the responsibility to allocate funds to current and fixed assets to obtain the best mix of financing alternatives and develop an appropriate dividend policy within the context of the firm’s objectives. The aim of the study was to review extensive literatures available in the area concerning the challenges, roles and responsibilities of financial manager. 30 articles which are significant have been collected and reviewed according to the highlighting points i.e., ‘challenges of finance manager’ and ‘Roles and responsibilities of finance manager’. The study is based on secondary data collected from several journals, articles and books.  The major role played by a financial manager is to look after the entire finance department to ensure financial health and financial sustainability of the organization.  To perform their role, they need to overcome some of the major challenges faced by them they are challenge of technological up gradation, knowledge of strategic management, maintaining social relations, skills of communication, presentations and most important up to date knowledge of current policies relating with taxation, GST, party affairs and government policies along with some social and ethical problem. For further research a more indebt study can be carried out considering primary data along with a comparative study among the role of managers from different sectors.