Alternate Title(s) | Senior Financial Analyst |
Minimum Education Requirements | Bachelor's degree |
Salary | See Bureau of Labor Statistics for more information |
Job Skills | - Analytical skills. Financial managers increasingly are assisting executives in making decisions that affect their organization, a task which requires analytical ability. - Communication skills. Excellent communication skills are essential because financial managers must explain and justify complex financial transactions. - Detail oriented. In preparing and analyzing reports such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors. - Math skills. Financial managers must be skilled in math, including algebra. An understanding of international finance and complex financial documents also is important. - Organizational skills. Financial managers deal with a range of information and documents and so they must stay organized to do their jobs effectively. |
Job Duties | Financial managers typically do the following: - Prepare financial statements, business activity reports, and forecasts - Monitor financial details to ensure that legal requirements are met - Supervise employees who do financial reporting and budgeting - Review company financial reports and seek ways to reduce costs - Analyze market trends to maximize profits and find expansion opportunities - Help management make financial decisions |
Job Profile | Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization. The role of the financial manager, particularly in business, is changing in response to technological advances that have substantially reduced the amount of time it takes to produce financial reports. Financial managers’ main responsibility used to be monitoring a company’s finances, but they now do more data analysis and advise senior managers on ways to maximize profits. They often work on teams, acting as business advisors to top executives. |
The information presented within this occupational profile was synthesized from the Bureau of Labor Statistics, U.S. Department of Labor, Outlook Handbook, 2016-17 Edition and the U.S. Office of Personnel Management’s Handbook of Occupational Groups & Families.