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What Is a Finance Manager and How to Become One

Finance Manager

What Do Finance Managers Do?

Finance managers work in a variety of industries and are responsible for the financial health of a company, group, or organization. They utilize research, analytics, and reporting tools to direct investment activities and cultivate strategies to promote long-term financial success. Upper management relies on the recommendations of their finance managers to navigate decisions that steer the company toward its financial goals.

How to Become a Finance Manager

To become a finance manager, you need a bachelor’s degree in finance, business, accounting, or a related field, though many employers prefer candidates who hold a master’s degree. Earning certifications is not required, but becoming a Certified Financial Advisor (CFA) or Certified Public Accountant (CPA) may make you more valuable in the job market. Acquire an internship or entry-level position in a finance company to gain hands-on experience in the industry. Once you have worked for several years and have a successful history of handling portfolios, seek finance manager positions.

What Is the Role of a Finance Manager in an Organization?

The day-to-day job duties of finance managers vary significantly, depending on their industry. But the role of finance managers is to support and inform the company on financial matters. Finance managers analyze data and report to senior managers with advice on profit-optimization, which includes determining necessary costs to reduce expenditures. They prepare statements, business activity reports, and forecasts, and oversee financial compliance to ensure the company meets all legal requirements. Some serve in supervisory roles over other finance department employees.

Finance Manager Job Description Sample

With this Finance Manager job description sample, you can get a good idea of what employers are looking for when hiring for this position. Remember, every employer is different and each will have unique qualifications when they hire for a Finance Manager role.

Job Summary

We are seeking a skilled, experienced finance manager to join our growing organization. In this position, you will play a key role in the funding strategy and the long-term financial security of our organization. You will investigate new ways to improve our profitability and analyze markets and market trends for opportunities on which we may capitalize. Strong communication skills, leadership, business acumen, and experience are required to aid in the long-term growth and success of our company.

Duties and Responsibilities

  • Simulate various financial scenarios through financial modeling and analytics to determine the best course of action
  • Strong interpersonal and management abilities to build consensus and lead growth
  • Regularly present potential opportunities, scenarios, and possible outcomes to the management team
  • Direct and manage the preparation and publication of departmental and organization financial documents and reports
  • Understand the big picture while managing the day-to-day financial details
  • Collaborate with management on initiating, developing, and executing possible funding strategies
  • Review financial and legal documentation to verify accuracy and adherence to financial regulations and acceptable financial principles
  • Conduct regular audits to ensure compliance with state and federal regulations
  • Analyze current finances and develop budgets for the following period/year
  • Develop or recommend viable solutions for problems or situations

Requirements and Qualifications

  • Bachelor's Degree in finance, accounting, or related field required; MBA preferred
  • 5+ years experience in a financial management position
  • Proven strategic planning experience at the management level
  • Proficient in Microsoft Excel and PowerPoint and financial management software
  • Demonstrated creative and critical thinking skills
  • Ability to work on multiple high-value projects simultaneously
  • Strong written and verbal communication skills