The secretary serves as the chief adviser to the governor on fiscal policy, taxation, and the operations and personnel needs of the state government.

The most recent secretary was Clark Jolley, who was appointed by Governor Mary Fallin on February 28, 2018, and served in that post until January, 2019.

The position of Secretary of Finance was established in 1986 to provide greater oversight and coordination to the financial and revenue activities of the State government.

As of fiscal year 2017, the Secretary of Finance, Administration and Revenue oversees 2998 full-time employees and is responsible for an annual budget of $938,273,144.63 (not including assets of the retirement systems, which increases the overall oversight to closer to $31,550,000,000).

Since incumbent Secretary Clark Jolley also serves as the Vice Chairman of the Oklahoma Tax Commission, he receives the salary allowed for that position.