Hunter Campbell’s Accounting Employment Insights Series offers a comprehensive look into roles within the accounting sector. Leveraging our specialised Accounting recruitment market knowledge, we provide valuable insights into the roles currently in demand, shedding light on market trends, salaries, and sought-after skills. In today’s article, Josie Clarke, Senior Consultant at Hunter Campbell shares her expertise on the role of Finance Business Partner.
What does a Finance Business Partner do?
A Finance Business Partner is a more forward-looking and commercially focused role. If you are at a larger organisation, you may only look after one or two departments across the business e.g. sales or marketing. The FBP takes ownership of budgets and forecasts, conducts commercial analysis on cost initiatives, profitability analysis, and plays a pivotal role in upcoming projects. Unlike traditional roles that merely report on numbers, the FBP actively influences and partners with stakeholders, building key relationships to enhance the division.
Typical KPI’s of Finance Business Partner
The success of a Finance Business Partner is gauged through key performance indicators, with a primary focus on gross and net margins. These metrics serve as benchmarks for evaluating the impact and effectiveness of the FBP’s strategic contributions.
Key skills and qualifications required
At a minimum, a Bachelor’s degree in accounting, finance, or a related field is required to enable you to progress to a Finance Business Partner. While not mandatory, having a CA/CPA qualification is advantageous and will set you apart from other candidates.
Throughout their careers, FBPs will have gained solid experience in management accounting, reporting, budgets, and forecasts.
While numerical and analytical are critical, soft skills are just as critical, especially in stakeholder influence and effective communication. The ability to articulate financial concepts to non-financial stakeholders and drive meaningful conversations is a sought-after skill.
Recruitment Forecast and Career Prospects
The Finance Business Partner role opens doors to various career prospects, including positions such as Commercial Manager, Financial Planning and Analysis (FPA) Manager, and Commercial Lead. The path of progression often involves transitioning from roles like Analyst or Management Accountant to ultimately assuming the responsibilities of an FBP.
The remuneration for Finance Business Partners typically ranges between $140,000 and $180,000, reflecting the strategic importance of the role.
To provide a practical perspective, here are some examples of Finance Business Partner Roles recently Filled by Hunter Campbell.
Ritchies: Finance Business Partner
ECL Group: Finance Business Partner
Spark: Finance Business Partner
As the accounting landscape evolves, the role of the Finance Business Partner emerges as a key player in driving strategic financial decisions. Hunter Campbell’s ongoing series provides invaluable insights for professionals seeking to navigate and excel in the Accounting sector.
If you are looking to hire a Finance Business Partner, or looking for your next opportunity in this space, get in touch with Josie to chat through these insights and available opportunities.