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