Overview of the Finance and Accounting Roles and Job Family
The Finance and Accounting Roles and Job Family provide a structured career path for professionals in financial management, accounting, tax, auditing, and corporate finance. This job family ensures financial accuracy, regulatory compliance, and strategic decision-making within organisations. Progression aligns with increasing levels of expertise, responsibility, and leadership, allowing for vertical advancement and lateral specialization.
Key Roles and Career Progression
Finance and Accounting roles are categorized by competency levels, measured through LEAP Assessments to help employers make informed hiring and development decisions. Each role requires a mix of technical expertise, analytical thinking, and leadership skills to support business growth.
Entry-Level Roles
- Finance Intern – Gains hands-on experience in financial data entry, bookkeeping, and basic reporting. Key skills: Excel proficiency, data analysis, and fundamental accounting principles.
- Junior Accountant – Assists with financial statement preparation, reconciliations, and compliance. Key skills: GAAP/IFRS knowledge, ledger management, and financial reporting.
- Accounts Payable/Receivable Associate – Manages invoices, payments, and ledger entries. Key skills: Accounts reconciliation, invoice processing, and credit management.
Early-Career Roles
- Financial Analyst – Conducts financial modeling, budgeting, and performance analysis. Key skills: Financial forecasting, variance analysis, and data visualization.
- FP&A Analyst – Supports financial planning, variance analysis, and strategic forecasting. Key skills: Business intelligence tools, scenario modeling, and strategic planning.
- Tax Associate – Assists in tax compliance, audits, and filings. Key skills: Tax regulations, SAP/Oracle knowledge, and statutory accounting.
- Audit Associate – Reviews financial statements for risk and compliance assessments. Key skills: Internal/external auditing, risk assessment, and SOX compliance.
Mid-Career Roles
- Senior Accountant – Leads accounting functions, ensures accurate financial reporting, and maintains compliance. Key skills: ERP systems, tax planning, and regulatory reporting.
- Senior Financial Analyst – Enhances corporate finance strategies and forecasting. Key skills: Advanced financial modeling, scenario planning, and capital analysis.
- Management Accountant – Provides financial insights for operational decision-making. Key skills: Cost accounting, financial reporting, and variance analysis.
- Finance Manager – Oversees budgeting, financial planning, and risk management. Key skills: Leadership, cash flow forecasting, and strategic decision-making.
Advanced Roles
- Controller – Manages financial statements, internal controls, and audits. Key skills: Regulatory compliance, risk assessment, and policy development.
- Senior Finance Manager – Aligns financial performance with strategic goals. Key skills: Business intelligence, financial governance, and corporate finance strategies.
- Director of Finance – Leads financial strategy, operations, and governance. Key skills: Executive leadership, M&A, and financial risk mitigation.
Expert Roles
- Vice President (VP) of Finance – Drives financial strategy, investor relations, and corporate governance. Key skills: Strategic planning, financial oversight, and investor communications.
- Chief Financial Officer (CFO) – Defines and executes high-level financial strategies for long-term business success. Key skills: Enterprise risk management, capital markets expertise, and economic forecasting.
- Finance and Accounting Advisor – Provides consulting on financial best practices and policies. Key skills: Industry foresight, financial restructuring, and high-level advisory expertise.
How LEAP Assessments Support Finance and Accounting Roles
LEAP Assessments provide a data-driven approach to evaluating competencies across all finance and accounting roles. Employers can leverage LEAP Scores to:
- Identify top talent using role-specific skill evaluations.
- Ensure competency-based hiring beyond traditional resumes.
- Develop employees by tracking skill progression and competency growth.
- Optimize workforce planning with standardized competency benchmarks.
Conclusion
The Finance and Accounting Job Family offers professionals a clear path for career progression, fostering opportunities for continuous growth through skill development and experience. With LEAP Assessments, hiring managers and HR professionals can make objective, competency-based decisions to build high-performing financial teams.
For more information, contact LEAPScores@RewiredHQ.com