Steven Rindner Discusses The Duties And Responsibilities Of An Executive Vice President

A modern corporation ideally comprises of diverse executive roles and positions. Usually, the senior executives report directly to the CEO or COO, but this factor also depends on the form of the business.  As per Steven Rindner, if a firm is organized as a division, then the top manager is often known as an executive vice president (EVP). Steven himself was the executive vice president at Main Street Advisors, LLC.  His experience in this field has provided him with a close insight on the duties of an EVP. As per him, these are among the most important professionals who are in charge of the overall business and working of an organization.

In a modern business organization, an EVP tends to be widely recognized as a professional vital to the overall functioning of the firm. According to Steven Rindner, they usually serve as a member of the senior leadership team of an organization, along with the CEO, the president, and other senior directors. Their main duties ideally involve attending board meetings, becoming a liaison with the board of directors, managing the financial plans and overseeing the revenue plans, with the aim of generating maximum possible revenue for an organization. An executive vice president usually is answerable to the chief executive president or the president of the board, who subsequently are the ones determining their targets and work responsibilities.

As per Steven Rindner, the major responsibilities of the EVP of a company would include:

  • Communicating the business strategy of a company to its board of directors
  • Attending board meetings
  • Monitoring and managing revenue generation
  • Presiding over operations
  • Identifying the various ways to maximize revenue
  • Working with the audit committee to prepare budgets
  • Analyzing financial reports
  • Making sure of the fact that company policies and procedures are followed by each department of a firm
  • Attracting, retaining and motivating staff members
  • Reporting and sharing information with the board to make sure they are fully kept updated on the condition of the organization and important factors influencing it
  • Identifying and leading new business opportunities
  • Ensuring the highly productive relationships and partnerships for the benefit of the relevant organization
  • Implementing the organization’s vision and mission in overall direction
  • Guiding other executive leaders wherever necessary
  • Formulating and implementing the strategic plans