A consolidations manager is a specialist who is actively involved in the preparation of financial data of large businesses with a large turn over. Usually every multi-million dollar company hires a consolidations manager and vests him/her with a team and a lot of responsibilities. The job is a high profile one. Here is a brief description of the two main responsibilities and the two skills required of any Consolidations Manager.
Responsibility # 1 – Preparation of Balance Sheets
The first major responsibility of any consolidations manager is to prepare the company’s balance sheet after collecting and consolidating the relevant information from the various departments of the organization. Once the balance sheet is prepared, he/she is expected to verify the data using secondary sources before the balance sheet goes for publishing. The consolidations manager is also expected to brief the management about the various pointers that the balance sheet comes up with.
Responsibility # 2 – Analysis of Risks and Investments
Another key responsibility of a consolidations manager is the analysis of the risks and investments of the company. He/she has to come up with a weighted average method to evaluate the share holdings, land holdings and other movable and immovable assets and liabilities. He/she must interact with the risk evaluation specialist of the company and consolidate a comprehensive analysis of the various areas of risk exposure of the company.
Skill # 1 – Very Good in Communication
A consolidations manager has to not only work on balance sheets and risk evaluation but also report the same to the higher management and external authorities. He/she also has to draft letters and write official reports. This implies extensive verbal and written interaction with a wide range of people. Hence a consolidations manager should have very good verbal and non- verbal communication skills. Additionally, he/she may also be required to interact with Government agencies and the media in order to brief or discuss about the company’s balance sheets.
Skill # 2 – Technical Know How
A consolidations manager should also be adept at using the various Microsoft office functionalities and should have exposure to SAP. He/she should be good at using formula in excel, make presentations and use SAP tools for coming up with the various analysis and reports.
Overall, a consolidations manager plays a very responsible role on any billion dollar garnering company. He/she has to combine analytical knowledge with technical and communication skills in order to effectively project a company’s financials.
“Job description, duties, responsibilities of Consolidations Manager or salaries may not be the same or applicable for all the countries”.