Financial Managers Job Description video

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Financial managers follow the money. Their titles and responsibilities vary, but almost every business relies on them working alone or as part of a team to protect the company’s bottom line. The skills involved in guiding the flow of money through a corporation are considered so vital to its success that these executives often attain the top ranks of company management. A Chief Financial Officer, or CFO, is usually a firm's top fiscal expert, formulating financial plans and policies and overseeing activities such as mergers and acquisitions, the preparation of reports and forecasts, and all financial and accounting functions. Other financial management titles include Controllers, who oversee the preparation of financial reports and analyze future earnings and expenses. Controllers might also direct accounting, audit and budget departments. Treasurers and Finance Officers are responsible for a company’s financial goals, objectives and budgets. They might also supervise investments and cash management. Cash Managers might fill that role in larger companies. Risk and Insurance Managers handle programs to help reduce the company’s exposure to losses. Credit Managers work to make sure the company extends credit wisely. All these and other financial managers work together as a team in large corporations. In smaller companies one or more individuals might cover all of these duties. A company of any size depends on the advice of financial managers when key decisions are made. Most financial managers have earned advanced degrees and professional certifications and continue their training on the job. All are comfortable with computers and the latest financial software Different industries require additional expertise… whether it's understanding the expenses involved in running a sports franchise… or medical costs in the health care field. Multinational firms often require fluency in a foreign language. The hours can be long and some travel is standard. There can be a great deal of stress, even when the company is doing well! But along with financial rewards, comes the satisfaction of contributing to a company’s success.

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