Financial Manager Career

Job Description: Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.


Is Financial Manager the right career path for you?
Take the MyMajors Quiz and find out if it fits one of your top recommended majors!

Financial Manager Career

What Financial Managers do:

  • Recruit staff members.
  • Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
  • 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.
  • Oversee training programs.
  • Oversee the flow of cash or financial instruments.
  • Evaluate data pertaining to costs to plan budgets.
  • Evaluate financial reporting systems, accounting or collection procedures, or investment activities and make recommendations for changes to procedures, operating systems, budgets, or other financial control functions.
  • Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.
  • Prepare financial or regulatory reports required by laws, regulations, or boards of directors.
  • Network within communities to find and attract new business.
  • Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
  • Review collection reports to determine the status of collections and the amounts of outstanding balances.
  • Examine, evaluate, or process loan applications.
  • Develop or analyze information to assess the current or future financial status of firms.
  • Prepare operational or risk reports for management analysis.
  • Communicate with stockholders or other investors to provide information or to raise capital.
  • Review reports of securities transactions or price lists to analyze market conditions.
  • Analyze and classify risks and investments to determine their potential impacts on companies.
  • Submit delinquent accounts to attorneys or outside agencies for collection.
  • Direct insurance negotiations, select insurance brokers or carriers, and place insurance.
  • Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.

What work activities are most important?

Importance Activities

Working with Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.

Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.

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.

Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.

Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.

Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.

Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.

Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.

Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.

Judging the Qualities of Objects, Services, or People - Assessing the value, importance, or quality of things or people.

Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.

Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.

Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.

Communicating with People Outside the Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.

Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.

Providing Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.

Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.

Performing for or Working Directly with the Public - Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.

Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.

Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.

Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.

Monitoring Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.

Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.

Staffing Organizational Units - Recruiting, interviewing, selecting, hiring, and promoting employees in an organization.

Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.

Monitoring and Controlling Resources - Monitoring and controlling resources and overseeing the spending of money.

Estimating the Quantifiable Characteristics of Products, Events, or Information - Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.

Holland Code Chart for a Financial Manager