Towers Watson Finance Manager
A Finance Manager at Towers Watson (now WTW – Willis Towers Watson) held a crucial role, overseeing the financial health and stability of the organization or specific business units. Their responsibilities spanned a broad spectrum, contributing significantly to strategic decision-making and ensuring financial compliance.
Key Responsibilities
The core duties of a Towers Watson Finance Manager typically included:
- Financial Reporting and Analysis: Preparing accurate and timely financial statements, including balance sheets, income statements, and cash flow statements. Analyzing financial data to identify trends, risks, and opportunities for improvement. This often involved variance analysis, comparing actual performance against budgets and forecasts.
- Budgeting and Forecasting: Developing and managing the annual budget process, working closely with department heads to align financial plans with business objectives. Creating financial forecasts based on market trends, economic conditions, and internal performance data. Regularly updating forecasts and identifying potential deviations.
- Financial Planning and Strategy: Participating in the development of long-term financial plans, contributing to strategic decision-making by providing financial insights and analysis. Evaluating potential investments, mergers, and acquisitions from a financial perspective.
- Internal Controls and Compliance: Implementing and maintaining strong internal controls to safeguard company assets and ensure compliance with accounting standards (e.g., GAAP or IFRS) and relevant regulations (e.g., SOX). Conducting internal audits to identify areas for improvement in internal controls.
- Tax Management: Overseeing tax compliance, including the preparation and filing of tax returns. Working with external tax advisors to minimize tax liabilities.
- Cash Management: Managing cash flow to ensure sufficient liquidity for operations and investments. Optimizing cash management processes to improve efficiency and returns.
- Team Leadership: Managing and mentoring a team of financial professionals, providing guidance and support to ensure the team’s success. Fostering a collaborative and high-performing work environment.
- Client Interaction (potentially): Depending on the specific role, some Finance Managers at Towers Watson might have interacted directly with clients, particularly in areas like actuarial consulting or benefits administration, providing financial insights and support.
Skills and Qualifications
To succeed in this role, a Towers Watson Finance Manager typically possessed the following:
- A bachelor’s degree in accounting, finance, or a related field. An MBA or advanced degree was often preferred.
- A professional certification such as a CPA (Certified Public Accountant) or CFA (Chartered Financial Analyst) was highly valued.
- Significant experience in financial management, ideally within a professional services firm or a similar industry.
- Strong analytical and problem-solving skills.
- Excellent communication and interpersonal skills.
- Proficiency in financial modeling and data analysis tools (e.g., Excel, financial planning software).
- A deep understanding of accounting principles and financial regulations.
Impact and Importance
The Finance Manager at Towers Watson played a critical role in ensuring the financial health and sustainability of the organization. Their expertise and insights were essential for making sound financial decisions, managing risk, and achieving strategic objectives. They provided valuable support to senior management and helped to create a financially stable and successful company.
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