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Financial adviser, accountant, receiver and paymaster, he is responsible for the organisation's local and private trust funds. In addition, he is also responsible for making arrangements for the investment of City of London and other funds and is one of the three official trustees.

The Chamberlain's relationship with the Court of Common Council is the same that applies to other local authority Chief Finance Officers (CFO) and he therefore has the same responsibilities placed on him as any other CFO in the UK. Through the Chamberlain's Court he also administers the admission to the Freedom of the City and personally admits all Honorary Freemen. He is also responsible to the Court of Aldermen for constituting new livery companies and interpreting and amending their ordinances and charters.