Responsibilities and Competencies of Finance Manager at Australian Sports Commission

This article discusses the responsibilities of a Finance Manager at Australian Sports Commission, including raising funds, allocation of funds, profit planning and control, creating financial projections and budgets, and investment of funds. It also highlights the competencies required for the job, such as technical skills, business skills, people skills, and leadership skills. Additionally, the article emphasizes the importance of diversity consideration while filling the position.

Running Head: Human Resource Management
Australian Sports Commission
Human Resource Management

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Table of Content
Introduction...........................................................................................................................................2
Responsibility of Finance Manager........................................................................................................3
Raising Funds.....................................................................................................................................3
Allocation of Funds to different department.....................................................................................3
Profit planning and Control...............................................................................................................3
Creating financial projections and Budgets.......................................................................................3
Investment of Funds..........................................................................................................................3
Competencies of Finance Manager.......................................................................................................4
Diversity Consideration.........................................................................................................................4
References.............................................................................................................................................5

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Introduction
The Australian Sports Commission is the Australian Government’s agency which is
responsible for distributing funds and providing strategic guidance and leadership for
sporting activity in Australia(Drew, Blanch, Purdam and Gabbett, 2016).The purpose of the
assignment here is to fill the position of Finance manager and define the key roles and
responsibilities, competencies and attributes for the job position, also to analyse the
consideration of diversity in filling the above mentioned position.

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Responsibility of Finance Manager
The main responsibility of a Finance manager at Australian Sports commission to monitor its
finances, analyse the sources of money and the cost centres of the company, advise the
management and senior managers on ideas to maximize profits and steps to ensure
financial stability in the system. Other set of responsibilities are:
Raising Funds- ASC is the government’s leading sports agency which develops supports and
invests in all forms of sports. In order to do so, the body works directly with multiple
investors, institutional investors, government bodies and many more. In order to do so, the
finance manager has to raise funds to support the activities for the business organization
and strike a balance between its debt and equity ratio
Allocation of Funds to different department- As mentioned the funds have to be raised for
variety of purposes like Training of sportsperson, building infrastructure, securing inventory,
manpower recruitment, marketing and so on. Thus, the role of Finance manager is to ensure
that the funds are allocated on the basis of need, urgency and strategic advantage.
Profit planning and Control- ASC suffered loss in Millions in the year 2015-16 due to
mismanagement and improper planning. Thus the duty of the Finance manager here is to
ensure that the funds are raised, allocated and used in such a manner that the government
body is profitable. He has to also ensure the expenditure of money is happening according
to the strategic objectives of the company and not haywire.
Creating financial projections and Budgets- A Finance manager has to ensure that he
creates budgets and draws financial projections for at least a minimum period of 5 years. He
has to ensure that the projections and the budgets are realistic and supported either
historically or on the basis of strategic planning (Johnson, Leenders & McCue, 2017).
Investment of Funds- Another function of the Finance manager is to ensure that he harvests
the profits and invest them with due diligence. The purpose of investing fund is to create

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wealth for the organization and park money for future capital need (Korhonen, Laine &
Martinsuo, 2014).
Competencies of Finance Manager
Technical Skills It involves collecting, storing and processing
information to be shared with the
stakeholders. Financial accounting, tax
strategy, planning and compliance are some
of the task included (Coleman, 2014).
Business Skills Using the information of the business and
the organization, turning the financial data
into valuable insights for the organization
(Cech & CHadt, 2015).
People Skills Skills are required to influence the decision
makers, their action and behaviour towards
the growth of the organization.
Leadership Skills Team building, managing change and driving
financial performance are the key tasks
(McBride, 2016).
Diversity Consideration
As the Key role of the finance manager is to raise funds, allocation of funds and investment
of funds for the improvement in the sports facilities and training of the Australian
sportspersons. Thus, it is very much advised that the person has to be from Australia, in
order to ensure that the benefits of Australian sportsperson are kept above all, more so,
because the person would be in a better position to understand the micro-environment
surrounding the Australian sports commission.

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References
Cech, P. and Chadt, K., 2015, June. Project Manager And His/Her Competencies.
In International conference knowledge-based organization (Vol. 21, No. 1, pp. 165-169). De
Gruyter Open.
Coleman, L., 2014. Why finance theory fails to survive contact with the real world: a fund
manager perspective. Critical Perspectives on Accounting, 25(3), pp.226-236.
Drew, M.K., Blanch, P., Purdam, C. and Gabbett, T.J., 2016. Yes, rolling averages are a good
way to assess training load for injury prevention. Is there a better way? Probably, but we
have not seen the evidence. Br J Sports Med, pp.bjsports-2016.
Johnson, P.F., Leenders, M.R. and McCue, C., 2017. A comparison of purchasing’s
organizational roles and responsibilities in the public and private sector. Journal of Public
Procurement, 3(1), pp.57-74.
Korhonen, T., Laine, T. and Martinsuo, M., 2014. Management control of project portfolio
uncertainty: A managerial role perspective. Project Management Journal, 45(1), pp.21-37.
McBride, J., 2016, January. From Safety Leader to Business Partner-Bridging the Gap. In ASSE
Professional Development Conference and Exposition. American Society of Safety Engineers.