Financial Manager

Management
Financial Manager , What Does a Financial Manager Do? - TheCareerHub
  • Growth
    23%
  • Salary
    RS 35000-40000
Overview

Who is Financial Manager?

A financial manager is responsible for an organisation's financial health, which includes creating financial reports, planning and executing investment activities, and developing strategies and plans for the organisation's long-term financial objectives. They adhere to a disciplined budgeting process while considering the company's immediate and long term objectives and their repercussions. Additionally, they guarantee that financial procedures comply with all applicable laws and regulations. Additionally, they are referred to as financial analysts or business analysts.

Typical day at work

What does Financial Manager do?

Financial managers are responsible for overseeing the financial operations of a business, as well as doing data analysis and advising senior management on profit-maximising plans. They usually work in teams, participating in formulating business-critical choices, a role that demands both analytical aptitude and strong communication abilities. The financial manager's role is altering, especially in business, due to technological advancements that have significantly reduced the time necessary to prepare financial reports. In addition, financial managers perform tasks that are particular to their organisation or sector. Government financial managers, for example, are responsible for the government's appropriations and budgeting procedures. In contrast, healthcare financial managers are responsible for the financial aspects of hospitals, physician groups, managed care facilities, and other medical providers.

Financial manager job description generally comprises of the following tasks:

  • Monitor a company's finances and actively manage cash flows.
  • Ensure all expenses are correctly recorded, reimbursed, paid.
  • Prepare financial statements, business activity reports, and forecasts.
  • Review company financial reports and seek ways to reduce costs.
  • Monitor financial details to ensure that legal requirements are met.
  • Analyze market trends to maximize profits and find expansion opportunities.
  • Help management make financial decisions.
Abilities & aptitude needed

What are the skills, abilities & aptitude needed to become Financial Manager?

To flourish in any sector, candidates must exhibit specific characteristics complementary to the work function. Similarly, financial managers need excellent communication skills, interpersonal skills, organisational skills, leadership skills, time management skills, analytic abilities, commercial awareness, and computer literacy. In addition, financial management candidates must possess superior knowledge and grasp of accounting concepts, mathematical abilities, strategic thinking, and familiarity with accounting software. Additionally, a financial manager should be capable of communicating clearly and making appropriate judgements under pressure. Finally, financial managers must also be meticulous, observant, and exact since the work requires extensive data analysis and reporting.

Courses

Which course I can pursue?

Best Colleges

Which are the best colleges to attend to become Financial Manager?

Industries

Which industries are open for Financial Manager?

Depending on one’s educational background, experience, and certifications, aspirants may apply for the following careers related to financial manager:

  • Personal Financial Advisor
  • Financial Analyst
  • Financial Director
  • Accountants & Auditors
  • Budget Analysts
  • Loan Officers

Ready to become Financial Manager?

Take the world’s best assessment test !

Take a free demo
Internship

Are there internships available for Financial Manager?

Career Outlook

What does the future look like for Financial Manager?

Businesses need planning, directing, coordinating, and managing investments and risk, much more so as the economy expands and globalisation continues. As a result, job growth for financial managers is predicted over the next several years, even though financial managers confront a somewhat competitive market. Those with extensive experience, qualifications, or certificates are expected to have the best job prospects. Additionally, the job position may be quite demanding since one's actions and performance directly impact the organisation's financial stability. Financial managers get a competitive pay package, job stability, excellent career opportunities, and other benefits such as stock options and corporate cars, depending on the employer.

Explore related career