Financial Manager

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?