Financial Managers
What is a Financial Manager?
Financial Managers are professionals responsible for the financial health of an organization. They oversee the preparation of financial reports, direct investment activities, and develop strategies to achieve long-term financial goals. Acting as key decision-makers, they analyze financial data and market conditions to help organizations make informed business decisions and maintain profitability. Financial Managers typically hold advanced degrees in finance, accounting, or business administration, and possess strong analytical skills coupled with a comprehensive understanding of financial regulations and trends. Their roles can vary significantly across different industries, but their core objective remains the same: to ensure that an organization has sound financial strategies to support its operations and growth. They play a crucial role in budgeting, forecasting, investment planning, and risk management, working closely with other executives to align financial goals with overall business strategies.
Tasks
- Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
- Oversee the flow of cash or financial instruments.
- Plan, direct, or coordinate the activities of workers in branches, offices, or departments of establishments, such as branch banks, brokerage firms, risk and insurance departments, or credit departments.
- Recruit staff members.
- Evaluate data pertaining to costs to plan budgets.
Technology Skills
- Enterprise resource planning ERP software
- Presentation software
- Data base user interface and query software
- Business intelligence and data analysis software
- Accounting software
Tools Used
- Personal digital assistant PDAs or organizers
- Desktop calculator
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Scanners
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Notebook computers
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Desktop computers
Knowledge
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Customer and Personal Service
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
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Administration and Management
Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
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Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
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Administrative
Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
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Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Skills
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Active Listening
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
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Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
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Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
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Speaking
Talking to others to convey information effectively.
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Monitoring
Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
Abilities
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Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
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Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
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Written Comprehension
The ability to read and understand information and ideas presented in writing.
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Deductive Reasoning
The ability to apply general rules to specific problems to produce answers that make sense.
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Speech Clarity
The ability to speak clearly so others can understand you.
Education
How much education does a new hire need to perform a job in this occupation?
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Bachelor's degree
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Post-baccalaureate certificate
Awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree, but do not meet the requirements of academic degrees carrying the title of Master
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High school diploma or equivalent
or: GED, High School Equivalency Certificate
Work Activities
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Working with Computers
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
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Establishing and Maintaining Interpersonal Relationships
Developing constructive and cooperative working relationships with others, and maintaining them over time.
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Communicating with Supervisors, Peers, or Subordinates
Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
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Processing Information
Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
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Evaluating Information to Determine Compliance with Standards
Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
Detailed Work Activities
- Determine pricing or monetary policies.
- Establish interpersonal business relationships to facilitate work activities.
- Communicate organizational information to customers or other stakeholders.
- Monitor flow of cash or other resources.
- Analyze forecasting data to improve business decisions.
Work Interests
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Enterprising
Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
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Conventional
Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.
Job Outlook
Projected salary and job growth
This career will grow rapidly in the next few years.
Assessment
Related assessments and tests
No assessment available.