A finance manager is someone who manages the finances of an organization. Financial management is the business branch concerned with expenses, cash, and credit. In a nutshell, this position is responsible for the organization’s ability to carry out its goals. Many think only those with MBA degrees or equivalent experience can pursue this job. However, anyone interested in business or with a desire to learn more about this career path is encouraged to apply.

Work hours

Finance managers monitor a company’s financial condition and create strategies to maximize profits. They also interact with other departments and top-level executives to determine risks and analyze market trends. Some managers may be involved in risk management or insurance and credit. Work hours for these managers can range from forty to sixty hours a week, but most financial managers work full time. Some may even work more than forty hours a week. Their working hours vary, depending on the company and their individual responsibilities.

Education required

Obtaining a Bachelor’s degree in finance will give you the necessary skills and knowledge to enter the fast-paced, high-powered world of finance. In addition to gaining experience in the industry, you’ll also develop skills needed for entry-level jobs in banking, accounting, and tax preparation. The Bureau of Labor Statistics expects job growth of 19 percent for finance managers. However, a bachelor’s degree is not necessarily necessary to become a finance manager.

Graduate certificate programs in finance or corporate finance are available for aspiring professionals. Additionally, you can add value to your resume by obtaining voluntary certifications. The preferred certifications will vary depending on the industry. The CFA credential is applicable to financial analyst positions, while the CGFM certification is appropriate for government-employed financial managers.

Responsibilities

The job description of a finance manager is varied. It includes handling the day-to-day financial transactions of a business, such as paying bills and vendors. Other responsibilities include making advance payments on projected profits and deposing statutory liabilities and taxes before their due date. Finance managers must be familiar with investment decisions and the risks associated with financial contracts. A strong understanding of accounting principles is a key component of the job description.

In addition to their responsibilities, finance managers must have strong analytical skills and strong commercial awareness to succeed in their role. They must also have a passion for growth and efficiency, as well as a keen interest in profit and loss. An exceptional finance manager will also possess excellent communication, technical ability, and excellent negotiation skills. Typically, finance managers have at least five years of experience, a strong knowledge of the department and function, and excellent organizational skills.

Compensation

The compensation for a finance manager varies widely depending on experience and the type of industry. These professionals usually have experience in a finance company and can command a higher salary than their peers. However, the type of experience that is most relevant for the position is key. To land this position, you should have strong staff management skills and exceptional communication skills. However, if you don’t have the requisite experience, you can try to specialize in a particular area of finance.

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