Finance Manager Career Description
Finance managers may work in banks, financial institutions, or companies of any sector. Depending on the kind of firm they work, they responsibilities vary. In general, the role of a finance manager is to take financial decision about the credit period that can be given to various types of customers, the amount of loans to be taken, the cost of capital, the interest payments, and maintain a strong financial standing of the company. They maintain a balance of assets and cash at hand so that both liquidity and profitability of the company can be maintained. They also calculate the critical financial ratios of the company and abide by all the financial regulations as per the statutory regulatory authorities.
Finance Manager Job Career Description
- A finance manager is responsible for managing the whole finance department of a firm.
- There are various decisions related to managing finances of a company like cost of loans, interest payments, accounts receivables, account payables, cash management, asset management, budgeting, and management control measures.
- They should also prepare cash flow statements, balance sheets, profit and loss statements, tax forms, etc. The financial statements and quarterly results should be put up in the company website and be mailed to all the shareholders of the company along with the top management and board of directors.
Finance Manager Career Salary
Employers generally prefer candidates who have done their master of business administration in finance for the role of a finance manager. There can also be a minimum requirement of work experience of at least 5-7 years to become a finance manager of a firm. Candidates can find job opportunities in many firms like auto or car dealership firms; IT services companies, financial services, health care industry, manufacturing and distribution firms, etc. The annual salary of a finance manager may be in the range of $41,000 to $127,000 and the median salary could be $80,000 per year. These are the salary estimates as released by Pay Scale.