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<\/figure><\/div>\n\n\nWhat does a Financial Manager do?<\/h2>\n\n\n\n
Financial managers are professionals who evaluate daily financial activities in a firm and give professional advice to the organization’s management on present and also future financial plans.<\/p>\n\n\n\n
They play a very integral part in making financial decisions and are vital to the growth and success of any firm.<\/p>\n\n\n\n
What are the Duties and Responsibilities of a Financial Manager?<\/h2>\n\n\n\n
Your duties and responsibilities as a financial manager may vary depending on your employer and the firm’s size.<\/p>\n\n\n\n
But, irrespective of these factors, the duties and responsibilities of a financial manager are, but are not limited to these:<\/p>\n\n\n\n
1. Evaluate and Review the Financial Report<\/h3>\n\n\n\n
They evaluate and review the company’s financial report.<\/p>\n\n\n\n
This is to ensure that our records and reports are accurate.<\/p>\n\n\n\n
\u00a02. Prepare and Present a Company’s Financial Forecast<\/h3>\n\n\n\n
A financial manager is responsible for predicting a firm’s financial future.<\/p>\n\n\n\n
As this information is essential for preparing and managing a budget.<\/p>\n\n\n\n
3. Come up with Innovative ways to grow a Firm’s Finance<\/h3>\n\n\n\n
They also develop new and innovative methods to improve a company’s finance.<\/p>\n\n\n\n
Read More: Account Manager Job Description | Duties & Responsibilities<\/a><\/p>\n\n\n\n Financial managers keep a company’s record for future reference.<\/p>\n\n\n\n They do this using finance software or manually using paper and pen.<\/p>\n\n\n\n After preparing and presenting an approved budget, the financial manager must ensure that it is followed strictly.<\/p>\n\n\n\n Sticking to the budget helps the company manage funds in the best way possible.<\/p>\n\n\n\n Some other duties and responsibilities of a financial manager are<\/strong>:<\/p>\n\n\n\n The minimum academic qualification you need to become a financial manager is a bachelor’s degree in accounting, economics, or finance.<\/p>\n\n\n\n Although not mandatory, a master’s degree in economics, finance, or accounting and being a chartered accountant is advantageous.<\/p>\n\n\n\n Aside from academic certification, a financial manager must also have excellent knowledge and understanding of the use of finance software.<\/p>\n\n\n\n You also have to be conversant with updated methods and software used in financial management.<\/p>\n\n\n\n In addition, a good understanding of accounting principles and financial statistics is a huge plus.<\/p>\n\n\n\n Just as in every other job where experience is required, experience in financial management is also not left out.<\/p>\n\n\n\n Employers prefer employing those with some years of working experience in accounting, financial analysis, or related fields than those without.<\/p>\n\n\n\n In most cases, a minimum of 5-8 years is preferred.<\/p>\n\n\n\n Read More: Director of Operations Job Description | Duties & Responsibilities<\/a><\/p>\n\n\n\n Considering the job description of a financial manager, you have to possess certain skills and personalities to excel in this career path.<\/p>\n\n\n\n Here are some of the skills and attributes an excellent financial manager should possess:<\/p>\n\n\n\n A financial manager should be capable of making accurate financial forecasts and, with the knowledge of this forecast, working as a team with the management to draft a workable budget.<\/p>\n\n\n\n When this budget is approved, it is also necessary for the financial manager to follow financial activities to ensure that the budget is adhered to religiously.<\/p>\n\n\n\n A good financial manager must be able to think critically and analytically.<\/p>\n\n\n\n You should be able to make financial decisions that contribute to the growth as well as the success of the firm<\/p>\n\n\n\n All good communicators are not financial managers, but all financial managers should be good communicators.<\/p>\n\n\n\n You should be able to communicate the technical and non-technical aspects of finance verbally and in writing.<\/p>\n\n\n\n The importance of being organized at all times in financial management cannot be over-emphasized.<\/p>\n\n\n\n You should also stay calm and organized when working.<\/p>\n\n\n\n And Instead of trying to do so many things at a time, learn to prioritize your tasks.<\/p>\n\n\n\n To become a good financial manager, you must also be a good leader.<\/p>\n\n\n\n You should be able to train and work with your team to manage project budgets and meet deadlines.<\/p>\n\n\n\n Read More: Civil Engineer Job Description | Duties and Responsibilities<\/a><\/p>\n\n\n\n A good financial manager should be trustworthy.<\/p>\n\n\n\n Your employer should be able to believe and trust that you can manage the firm’s finance.<\/p>\n\n\n\n While creating financial reports, you should be honest enough not to change figures for your interest.<\/p>\n\n\n\n You should build and maintain good working relationships with your team and the management.<\/p>\n\n\n\n A good working relationship makes work smoother.<\/p>\n\n\n\n So many business firms always require the services of a financial manager.<\/p>\n\n\n\n Some of the typical employers are:<\/p>\n\n\n\n A financial manager is required across various sectors, from government-owned businesses to private ones.<\/p>\n\n\n\n Read More: Business Analyst Job Description | Duties & Responsibilities<\/a><\/p>\n\n\n\n There are a variety of financial manager jobs, and the different job descriptions may differ slightly, some of which are<\/p>\n\n\n\n The role of a commercial finance manager is innovative and strategic thinking. They analyze data and come up with productive ideas.<\/p>\n\n\n\n This strategic thinking aims to improve the overall profit of the firm.<\/p>\n\n\n\n The job description of a commercial financial manager requires that they carry out some of these duties and responsibilities:<\/p>\n\n\n\n The role of a financial manager is a leadership role.<\/p>\n\n\n\n An assistant financial manager works as part of the team of the financial manager.<\/p>\n\n\n\n Some of their typical duties are:<\/p>\n\n\n\n The assistant financial manager reports to the financial manager.<\/p>\n\n\n\n The finance manager usually handles the administrative and clerical aspects of accounting.<\/p>\n\n\n\n Some of their typical duties and responsibilities are:<\/p>\n\n\n\n The role of a finance manager is more of an entry-level finance role.<\/p>\n\n\n\n Your salary as a financial manager may depend on your geographical location and employer.<\/p>\n\n\n\n In the United States, the average salary of a financial manager is about $95,000 per year.<\/p>\n\n\n\n The lowest pay is about $65,000, while the highest pay is about #135,000, according to Glassdoor<\/a>.<\/p>\n\n\n\n This figure is different in other locations. Aside from location and employer, it is evident that experience is also a determinant factor.<\/p>\n\n\n\n Hardworking financial managers always excel in this career path.<\/p>\n\n\n\n The normal career structure is to go from a financial analyst or assistant finance manager to a finance manager.<\/p>\n\n\n\n After becoming a financial manager, you can be promoted to positions like head of finance, senior finance manager, financial controller, and finance director.<\/p>\n\n\n\n Practically every job requires a level of experience before you qualify for getting the job.<\/p>\n\n\n\n When employing a financial manager, most employers seek a minimum of 5-8 years of experience in accounting or finance management.<\/p>\n\n\n\n Here are some common routes to obtaining experience in financial management:<\/p>\n\n\n\n Your resume should be professional enough to support your goal.<\/p>\n\n\n\n When creating it, here are some things to include;<\/p>\n\n\n\n This guide on the job description of a financial manager is optimized to help you create a good resume.<\/p>\n\n\n\n Feel free to make optimum use of it, not just for creating a resume but for answering interview questions too.<\/p>\n\n\n\n4. Keep Financial Records<\/h3>\n\n\n\n
5. Ensure that Budgets are Strictly Followed<\/h3>\n\n\n\n
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Read Also;<\/h2>\n\n\n
What Qualifications do I need to become a Financial Manager?<\/h2>\n\n\n\n
What Skills and Personality suit a Financial Manager?<\/h2>\n\n\n\n
1. Budgeting<\/h3>\n\n\n\n
2. Critical Thinking<\/h3>\n\n\n\n
3. Communication Skills<\/h3>\n\n\n\n
4. Organizational Skills<\/h3>\n\n\n\n
5. Leadership<\/h3>\n\n\n\n
6. Honesty and Integrity<\/h3>\n\n\n\n
7. Interpersonal Skill<\/h3>\n\n\n\n
Where do Financial Managers Work?<\/h2>\n\n\n\n
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What are the Different Types of Financial Manager Jobs?<\/h2>\n\n\n\n
1. Commercial Financial Manager<\/h3>\n\n\n\n
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2. Assistant Financial Manager<\/h3>\n\n\n\n
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3. Finance Manager<\/h3>\n\n\n\n
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How much do Financial Managers make?<\/h2>\n\n\n\n
What role can I be Promoted to after becoming a Financial Manager?<\/h2>\n\n\n\n
How do I get Experience in Financial Management?<\/h2>\n\n\n\n
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What do I include in my Financial Management Resume?<\/h2>\n\n\n\n
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