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Financial Managers

Financial Managers

Overview
Job Zone Four: Considerable Preparation Needed
Experience

A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.

Education

Most of these occupations require a four-year bachelor's degree, but some do not.

Job Training

Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.

Examples

Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, chemists, art directors, and cost estimators.

Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.

Salary Salary

Salary at 10th Percentile: $70K
Salary at 25th Percentile: $95K
Median Salary: $134K
Salary at 75th Percentile: $186K
Salary at 90th Percentile: $208K

Demand
Career Demand by State Career Demand by State Legend
Core Tasks

Examine, evaluate, or process loan applications.

Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.

Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.

Plan, direct, or coordinate the activities of workers in branches, offices, or departments of establishments, such as branch banks, brokerage firms, risk and insurance departments, or credit departments.

Oversee the flow of cash or financial instruments.

Prepare financial or regulatory reports required by laws, regulations, or boards of directors.

Develop or analyze information to assess the current or future financial status of firms.

Communicate with stockholders or other investors to provide information or to raise capital.

Recruit staff members.

Evaluate financial reporting systems, accounting or collection procedures, or investment activities and make recommendations for changes to procedures, operating systems, budgets, or other financial control functions.

Prepare operational or risk reports for management analysis.

Analyze and classify risks and investments to determine their potential impacts on companies.

Network within communities to find and attract new business.

Review collection reports to determine the status of collections and the amounts of outstanding balances.

Evaluate data pertaining to costs to plan budgets.

Oversee training programs.

Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.

Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.

Direct insurance negotiations, select insurance brokers or carriers, and place insurance.

Review reports of securities transactions or price lists to analyze market conditions.

Submit delinquent accounts to attorneys or outside agencies for collection.

Technology Skills
Technology
Example
Hot Technology
Accounting software
Intuit QuickBooks
Analytical or scientific software
SAS
Business intelligence and data analysis software
Tableau
Customer relationship management CRM software
Salesforce software
Data base management system software
Teradata Database
Data base reporting software
SAP Crystal Reports
Data base user interface and query software
Yardi
Development environment software
Microsoft Visual Basic for Applications VBA
Document management software
Adobe Systems Adobe Acrobat
Electronic mail software
Microsoft Outlook
Enterprise resource planning ERP software
Microsoft Dynamics GP
Enterprise system management software
IBM Power Systems software
Financial analysis software
Oracle E-Business Suite Financials
Graphics or photo imaging software
Microsoft Visio
Human resources software
ADP Workforce Now
Information retrieval or search software
LexisNexis
Internet browser software
Internet browser software
Medical software
Healthcare common procedure coding system HCPCS
Object or component oriented development software
R
Office suite software
Microsoft Office
Operating system software
Microsoft Windows
Presentation software
Microsoft PowerPoint
Project management software
Microsoft Project
Sales and marketing software
Marketo Marketing Automation
Spreadsheet software
Microsoft Excel
Word processing software
Microsoft Word
Tools Used
Tool
Example
Computer Equipment and Accessories
Personal computers
Office machines and their supplies and accessories
10-key calculators
Top 10 Knowledge Required
Economics and Accounting
80%
Importance

Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

Administration and Management
79%
Importance

Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.

Mathematics
73%
Importance

Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Customer and Personal Service
72%
Importance

Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

English Language
67%
Importance

Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

Sales and Marketing
63%
Importance

Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.

Law and Government
62%
Importance

Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Clerical
59%
Importance

Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.

Personnel and Human Resources
57%
Importance

Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.

Computers and Electronics
56%
Importance

Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Top 10 Skills
Active Listening
80%
Importance

Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Critical Thinking
80%
Importance

Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Monitoring
80%
Importance

Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.

Reading Comprehension
80%
Importance

Understanding written sentences and paragraphs in work related documents.

Speaking
80%
Importance

Talking to others to convey information effectively.

Judgment and Decision Making
78%
Importance

Considering the relative costs and benefits of potential actions to choose the most appropriate one.

Writing
78%
Importance

Communicating effectively in writing as appropriate for the needs of the audience.

Active Learning
75%
Importance

Understanding the implications of new information for both current and future problem-solving and decision-making.

Complex Problem Solving
75%
Importance

Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Coordination
75%
Importance

Adjusting actions in relation to others' actions.

Top 10 Abilities
Oral Expression
83%
Importance

The ability to communicate information and ideas in speaking so others will understand.

Deductive Reasoning
80%
Importance

The ability to apply general rules to specific problems to produce answers that make sense.

Oral Comprehension
80%
Importance

The ability to listen to and understand information and ideas presented through spoken words and sentences.

Problem Sensitivity
80%
Importance

The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.

Speech Clarity
80%
Importance

The ability to speak clearly so others can understand you.

Speech Recognition
80%
Importance

The ability to identify and understand the speech of another person.

Written Comprehension
80%
Importance

The ability to read and understand information and ideas presented in writing.

Inductive Reasoning
78%
Importance

The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).

Near Vision
78%
Importance

The ability to see details at close range (within a few feet of the observer).

Written Expression
78%
Importance

The ability to communicate information and ideas in writing so others will understand.

Top 10 Work Activities
Interacting With Computers
89%
Importance

Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

Communicating with Supervisors, Peers, or Subordinates
84%
Importance

Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

Coaching and Developing Others
82%
Importance

Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.

Guiding, Directing, and Motivating Subordinates
82%
Importance

Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.

Establishing and Maintaining Interpersonal Relationships
81%
Importance

Developing constructive and cooperative working relationships with others, and maintaining them over time.

Monitor Processes, Materials, or Surroundings
81%
Importance

Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.

Evaluating Information to Determine Compliance with Standards
79%
Importance

Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.

Organizing, Planning, and Prioritizing Work
79%
Importance

Developing specific goals and plans to prioritize, organize, and accomplish your work.

Analyzing Data or Information
77%
Importance

Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

Coordinating the Work and Activities of Others
77%
Importance

Getting members of a group to work together to accomplish tasks.

Detailed Work Activities

Establish interpersonal business relationships to facilitate work activities.

Supervise employees.

Direct financial operations.

Recruit personnel.

Prepare operational progress or status reports.

Analyze financial records to improve budgeting or planning.

Direct organizational operations, projects, or services.

Approve expenditures.

Monitor flow of cash or other resources.

Prepare financial documents, reports, or budgets.

Prepare reports related to compliance matters.

Maintain regulatory or compliance documentation.

Analyze forecasting data to improve business decisions.

Communicate organizational information to customers or other stakeholders.

Analyze financial records to improve efficiency.

Recommend organizational process or policy changes.

Analyze risks to minimize losses or damages.

Analyze financial records or reports to determine state of operations.

Determine pricing or monetary policies.

Develop operating strategies, plans, or procedures.

Negotiate sales or lease agreements for products or services.

Coordinate operational activities with external stakeholders.

Majors
Major
Accounting and Computer Science
Financial Analytics
Risk Management
Accounting and Finance
Accounting and Business/Management
Finance, General
International Finance
Public Finance
Credit Management
Financial Risk Management
Finance and Financial Management Services, Other
Interests
Enterprising
100%
Importance

Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

Conventional
72%
Importance

Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Social
48%
Importance

Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.

Investigative
24%
Importance

Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.

Realistic
24%
Importance

Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others.

Artistic
19%
Importance

Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.

Top 10 Work Styles
Dependability
95%
Importance

Job requires being reliable, responsible, and dependable, and fulfilling obligations.

Integrity
95%
Importance

Job requires being honest and ethical.

Attention to Detail
93%
Importance

Job requires being careful about detail and thorough in completing work tasks.

Achievement/Effort
89%
Importance

Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.

Persistence
89%
Importance

Job requires persistence in the face of obstacles.

Leadership
88%
Importance

Job requires a willingness to lead, take charge, and offer opinions and direction.

Adaptability/Flexibility
87%
Importance

Job requires being open to change (positive or negative) and to considerable variety in the workplace.

Initiative
86%
Importance

Job requires a willingness to take on responsibilities and challenges.

Stress Tolerance
85%
Importance

Job requires accepting criticism and dealing calmly and effectively with high stress situations.

Cooperation
84%
Importance

Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.

Work Values
Independence
86%
Importance

Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.

Working Conditions
86%
Importance

Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.

Recognition
81%
Importance

Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.

Achievement
77%
Importance

Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.

Relationships
72%
Importance

Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.

Support
72%
Importance

Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.