Finance Officer plays an important role in an organization irrespective of whether it is a commercial, nonprofit, private or government organization. A candidate appointed for the position of Finance Officer is responsible for controlling the spending and funding capabilities of an organization.

The minimum pay scale for the position of Finance Officer in Government organizations in India is Rs.15600-39100 with a Grade Pay of Rs.6600. However, some organizations bring them under the pay brand of Rs.37400-67000 plus GP of Rs.10000.

Recent government job notification for the position of Finance Officer:

Recently, the following government organizations recruited candidates for the position of Finance Officer:

• Shri Mata Vaishno Devi University

• Assam University

• Rajiv Gandhi Indian Institute of Management

Of the above-mentioned organizations, the universities announced a pay scale of Rs.37400-67000 for this position, while the Indian Institute of Management announced a pay scale of Rs.15600-39100. Therefore, candidates can expect a pay scale of not less than Rs.15000 for the position of Finance Officer.

Educational Qualification needed for the position of Finance Officer:

Some organizations look for candidates with just a Master of Commerce for this position, while some organizations require professional qualification like CA and ICWAI or MBA in Finance to recruit candidates for the position of Finance Officer. In the case of candidates with Master of Commerce, some experience in needed by the organizations, which is not compulsory in the case of candidates with professional qualification like CA and ICWAI.

Selection Procedure:

Since finance officer is an important position in the organization, government organizations follow a strict selection procedure for recruitment of candidates for this position.

Job responsibilities of a finance officer:

A finance officer is responsible for accurately and promptly analyzing the financial reports and budgets of the organization and they will also be responsible for assisting the top management of the organization with respect to financial issues. They are responsible for formulating and implementing company-wide procedures and policies with respect to accounting and finance. They are also responsible for strategic leadership and counseling senior management in issues pertaining to the financial decision making.

What are the qualities should a person possess to become a finance officer?

To become a successful finance officer, a candidate should excel in mathematics and he/she should possess the ability of paying attention to the details. Since they will have to report important and intricate financial information, they should possess good written and oral communication skills. They will be responsible for managing a finance team and therefore they should possess good interpersonal and leadership skills.