Financial managers work within the public and private sector where they are responsible for providing financial advice and undertaking related accounts administration.A financial manager is responsible for providing financial guidance and support to clients and colleagues so they can make sound business decisions.
As a financial manager, you will need a good head for figures and for dealing with complex modelling and analysis, as well as a sound grasp of financial systems and procedures.
Employers of Financial Managers
Financial managers work in a variety of organizations, throughout all sectors of business, industry and commerce.
- health authorities
- local government
- other public organizations
- universities and colleges.
- providing and interpreting financial information
- monitoring and interpreting cash flows and predicting future trends
- analyzing change and advising accordingly
- formulating strategic and long-term business plans
- researching and reporting on factors influencing business performance
- analyzing competitors and market trends
- developing financial management mechanisms that minimize financial risk
- conducting reviews and evaluations for cost-reduction opportunities
- managing a company’s financial accounting, monitoring and reporting systems
- liaising with auditors to ensure annual monitoring is carried out
- developing external relationships with appropriate contacts, e.g. auditors, solicitors, bankers and statutory organizations such as the Inland Revenue
- producing accurate financial reports to specific deadlines
- managing budgets
- arranging new sources of finance for a company’s debt facilities
- supervising staff
- keeping abreast of changes in financial regulations and legislation.
A career in financial management is open to both university graduates and school leavers. Graduates may have a degree in any discipline, although employers may prefer qualifications in accountancy, statistics, economics, mathematics, management or business subjects.
- commercial and business awareness
- excellent communication and presentation skills
- an analytical approach to work
- high numeracy and sound technical skills
- problem-solving skills and initiative
- negotiation skills and the ability to influence others
- strong attention to detail and an investigative nature
- the ability to balance the demands of work with study commitments
- good time management skills and the ability to prioritize
- the ability to work as part of a team and to build strong working relationships
- the capacity to make quick but rational decisions
- the potential to lead and motivate others
- good IT skills.