Finance Manager Jobs

What is a Finance Manager?

A finance manager plays a crucial role in overseeing the financial health and strategy of an organization. They work with teams to create budgets, track expenses, and ensure the company is in good financial standing.

Finance managers are integral to shaping and guiding the financial strategy of a company. They work closely with senior management to make informed decisions and ensure the financial stability and growth of the organization.

Being a finance manager in corporate finance is like wearing many hats. One day you might be analyzing financial data to identify cost-saving opportunities, the next you’re building complex financial models to evaluate a potential acquisition. We play a crucial role in supporting strategic decision-making. We work closely with business unit leaders to understand their needs and translate those needs into actionable financial plans. We also manage a team of finance professionals like analysts or accountants, ensuring they have the resources and guidance to complete their tasks effectively. It’s a challenging but rewarding role where you get to see the impact of your work on the company’s financial health and overall growth.
David Lee, Finance Manager at Abbott Laboratories

Key Responsibilities

Commercial Banking Careers
  1. Financial Planning and Strategy:
    • Develop financial strategies to ensure the long-term growth and profitability of the company.
    • Prepare financial forecasts and budgets, monitor and project future revenues and expenditures to align with strategic goals.
  2. Financial Analysis and Reporting:
    • Analyze financial data and performance, prepare management reports, and present findings and recommendations to senior management.
    • Ensure that financial reports are accurate, complete, and timely, providing critical financial insight that aids in decision-making.
  3. Cash Flow Management:
    • Monitor and manage the flow of cash through the organization to ensure liquidity for operations.
    • Implement effective cash management strategies to optimize the availability of funds and reduce costs.
  4. Investment Management:
    • Evaluate potential investments, mergers, acquisitions, or the sale of assets, assessing their financial viability and alignment with the company’s strategic goals.
    • Oversee the capital structure of the company, determining the best mix of debt, equity, and internal financing to fund corporate activities.
  5. Cost Control:
    • Identify and implement cost-saving and efficiency initiatives.
    • Oversee cost-reduction programs, negotiating with suppliers, and reviewing purchasing practices to manage expenses.
  6. Risk Management:
    • Assess and manage the financial risks facing the organization.
    • Implement risk management policies and procedures to minimize risks related to currency, interest rates, and other financial factors.
  7. Regulatory Compliance:
    • Ensure that the company complies with all financial regulatory requirements.
    • Prepare and submit required documents to regulatory bodies and ensure adherence to financial laws and guidelines.
  8. Team Management and Leadership:
    • Lead, manage, and develop a team of finance professionals.
    • Foster a collaborative team environment and guide the professional development of team members.
  9. Stakeholder Relations:
    • Maintain strong relationships with investors, bankers, and senior managers within the company.
    • Communicate financial results and strategies effectively to stakeholders to ensure transparency and confidence in the company’s financial management.

A Day in the Life of a Finance Manager

Here is what the daily schedule of a finance manager working in a Fortune 500 company might look like:

8:00 AM – 8:30 AM:

  • Check emails and voicemail for urgent matters and prioritize tasks for the day.
  • Review calendar and upcoming deadlines.
  • Briefly scan industry news or financial publications for any major developments.

8:30 AM – 9:30 AM:

  • Team meeting: Discuss ongoing projects, delegate tasks to finance analysts or accountants, address questions or roadblocks, and provide guidance.
  • Review team member progress on assigned tasks from the previous day.

9:30 AM – 11:00 AM:

  • Focus on a specific project requiring financial analysis. This might involve:
    • Downloading and analyzing financial data (revenue, expenses, cash flow) from company databases.
    • Utilizing financial modeling tools to create forecasts or identify trends.
    • Preparing initial drafts of reports or presentations related to the project.

11:00 AM – 12:00 PM:

  • Prepare for a meeting related to a specific project, such as a potential acquisition or a new product launch.
  • Gather relevant financial data and analysis for the meeting.
  • Briefly rehearse talking points or potential recommendations based on your financial analysis.

12:00 PM – 1:00 PM:

  • Lunch break

1:00 PM – 2:00 PM:

  • Project Meeting: Participate in the pre-arranged meeting to discuss a specific corporate finance project.
    • Present your initial financial analysis and answer questions from colleagues.
    • Collaborate with other team members on financial modeling or risk assessment.
    • Offer recommendations based on your findings and address potential challenges.

2:00 PM – 3:00 PM:

  • Address any ad-hoc tasks or urgent requests that have arisen throughout the day.
  • Respond to inquiries from business units or collaborate with other departments like marketing or sales on financial matters related to their projects.

3:00 PM – 4:00 PM:

  • Meeting with Business Unit Leader:
    • Meet with a leader from a different department (e.g., sales, marketing) to understand their financial needs and challenges.
    • Discuss how the finance team can support their goals and answer any financial questions they might have.
    • Collaborate on developing financial plans or metrics to track their performance.

4:00 PM – 5:00 PM:

  • Shift focus to budgeting and forecasting tasks.
    • Review current budget models and analyze market trends that might impact future projections.
    • Work on revising or updating the company’s budget and financial forecasts for the upcoming period.

5:00 PM – 5:30 PM:

  • Review work completed by your team members throughout the day.
  • Offer constructive feedback, answer questions, and ensure deadlines are on track.
  • Delegate any follow-up tasks or adjustments needed for ongoing projects.

5:30 PM – 6:00 PM:

  • Wrap-up and Professional Development:
    • Finalize reports or presentations due the next day.
    • Briefly scan industry publications or participate in online webinars to stay updated on financial trends and regulations.
    • Reflect on the day’s accomplishments and identify areas for improvement in your own time management or skillset.

How to Become a Finance Manager

Obtain a Bachelor’s Degree

Earn a bachelor’s degree in financeaccounting, economics, business administration, or a related field. Courses should include financial management, accounting, statistics, economics, and business law to build a strong foundational knowledge.

Gain Relevant Work Experience

Start your career in entry-level finance positions such as financial analyststaff accountant, or junior auditor. These roles provide practical experience in financial reporting, budgeting, and analysis. In these roles, focus on understanding financial processes, how to manage budgets, perform financial analysis, and understand regulatory requirements.

Pursue Professional Certifications

  • Certified Public Accountant (CPA) – Although not always required, becoming a CPA can provide an advantage, especially in roles requiring strong accounting skills.
  • Chartered Financial Analyst (CFA) – Earning a CFA designation is particularly valuable for finance-focused roles and demonstrates your ability to manage corporate financial analysis.
  • Certified Management Accountant (CMA) – This certification is beneficial for those focusing on cost management, financial analysis, and strategic planning.

Earn an Advanced Degree (Optional but Beneficial)

Earning a Master of Business Administration (MBA) or a master’s degree in finance or accounting can significantly enhance your qualifications and appeal to potential employers, especially in competitive industries or higher-level management roles.

Seek Higher Responsibility

Look for opportunities to step into roles such as senior financial analyst, assistant finance manager, or accounting manager to gain management experience. Take the lead on important projects, such as implementing new financial software, leading budget planning sessions, or managing a corporate finance initiative.

Apply for Finance Manager Positions

With the right mix of education, experience, and skills, start searching and applying for finance manager positions. Tailor your resume to highlight your relevant experience and skills. Be sure to upload your resume on FinanceJobs.net.

How Much Money Does a Finance Manager Earn?

The average annual salary for a finance manager is $110,096. For more insights visit our guide to finance manager salaries.

Accountant Careers

Position Company Location Posted
Area Finance Controller – Southeast Asia (S) & India Subcontinent DNV Singapore, SG 05/27/2024
More
Project Controller DNV Oslo, NO 05/27/2024
More
Area Finance Controller – Southeast Asia (S) & India Subcontinent DNV Singapore, SG 05/27/2024
More
Project Controller DNV Oslo, NO 05/27/2024
More
Finance Manager Rocket Central Detroit, Michigan US 05/27/2024
More
Lead Financial Analyst SC FP%26A Johnson & Johnson Raritan, New Jersey US 05/24/2024
More
Finance Manager, Global Functions Human Resources Johnson & Johnson New Brunswick, New Jersey US 05/24/2024
More
Finance Manager Hawai’i Opera Theatre Honolulu, Hawaii US 05/23/2024
More
Company
DNV
Location
Singapore, SG
Posted
05/27/2024
Company
DNV
Location
Oslo, NO
Posted
05/27/2024
Company
DNV
Location
Singapore, SG
Posted
05/27/2024
Company
DNV
Location
Oslo, NO
Posted
05/27/2024
Company
Rocket Central
Location
Detroit, Michigan US
Posted
05/27/2024
Company
Johnson & Johnson
Location
Raritan, New Jersey US
Posted
05/24/2024
Company
Johnson & Johnson
Location
New Brunswick, New Jersey US
Posted
05/24/2024
Company
Hawai’i Opera Theatre
Location
Honolulu, Hawaii US
Posted
05/23/2024