The Evolving EA Role: Unlocking Financial Acumen

When it comes to financial responsibilities, EAs are no longer just gatekeepers; they are strategic partners who help streamline financial processes, ensure compliance, and provide critical insights for decision-making. Here's a closer look at some of the financial tasks that EAs handle:

• Expense Management: EAs are responsible for preparing, reviewing, and submitting expense reports. They keep track of expenditures to ensure they are within budget and handle reimbursement processing for travel and other business-related expenses.
• Budgeting: EAs assist in budget preparation by gathering necessary information and organizing data. They monitor budgets and alert executives to any potential issues, ensuring financial plans are adhered to.
• Invoice Processing: Managing invoices involves receiving, reviewing, and processing them for payment. EAs also coordinate with vendors to resolve billing issues or discrepancies.
• Financial Reporting: Preparing financial reports, summaries, and presentations for meetings is another key responsibility. EAs compile and analyze financial data to provide insights that support decision-making.
• Travel and Event Planning: EAs estimate costs and manage budgets for travel and events. They negotiate with vendors, hotels, and service providers to secure the best rates and terms.
• Record Keeping: Maintaining accurate records of financial transactions, receipts, and other documents is essential. EAs ensure that financial practices comply with organizational policies and regulations.
• Communication: Acting as a liaison between the executive and the finance department, EAs ensure smooth communication and timely information flow. They coordinate meetings and discussions related to financial planning and performance.
• Project Management: EAs assist in managing financial projects, tracking progress, budgeting, and reporting.

If you want to fill confident and enhance your financial skills, take a look a few of the upcoming sessions led by Courtney Scott at EA Ignite Fall from November 12-14, 2024 in Miami.

Elevating Your Partnership: Financial Acumen for Senior EAs

This masterclass is designed for senior EAs who seek to continue to grow in their strategic partnership model. The masterclass provides case studies, real world examples, and practical talk tracks to encourage EAs to immerse themselves into budgetary conversations and decisions. Participants will learn how to become more comfortable with financial data, contribute meaningfully to financial decisions, add value to their executive’s role as a financial proxy, and better align their support to organizational financial goals. Learn more about this session here.

From EA to Executive: Empowering Career Growth with Financial Acumen

Ready for the next level? This masterclass is designed for senior EAs who are looking to transition into Director + roles within their organizations – with the goal of growing into Director of Project Management, VP of Strategic Initiatives, Chief of Staff, and similar roles. The class will focus on equipping participants with the financial acumen necessary to excel in leadership positions, understand business performance metrics, and contribute strategically to organizational success. Through practical examples and real-world scenarios, participants will gain confidence in their financial capabilities and readiness for career progression. Learn more about this session here.

Dive into our full event schedule to see what other skill areas you could improve!

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