
What are the job roles and responsibilities of an Financial Manager?
Financial managers advise clients on proper business planning and help in decision-making processes to ensure that businesses are financially successful.
A wide range of organizations have financial managers including financial institutions, supermarkets, insurance companies, manufacturers, charities, utilities, local government, health authorities, industrial organizations, retailers, universities/colleges, IT companies and engineering firms.
Responsibilities of the job include:
preparing and interpreting reports and financial statements
undertaking strategic analysis and assisting with strategic planning
producing a long-term business plan
undertaking research into pricing and factors affecting performance
controlling income, cash flow, and expenditure
managing budgets
developing and managing financial systems
carrying out business modeling and risk assessment
Qualifications and training required
Careers in financial management is open to university graduates and school leavers. Graduates may have a degree in any discipline, employers may prefer qualifications in accountancy, statistics, economics, mathematics or business subjects. A degree can reduce the length of time taken to gain professional qualifications with the accountancy bodies, enabling exemptions from a number of examinations.
Key skills for financial managers
good oral and written communication skills
self-motivation
commercial awareness
Excellent problem-solving, analytical, technical, IT and numerical abilities