Finance Manager Job Description: Top Duties and Qualifications

Last updated: June 22, 2022

A finance manager is responsible for managing the financial health of an organization in order to promote success and growth while maintaining legal financial practices. Their duties typically include financial planning to determine how to pay off liabilities and grow the business, reviewing financial documents to ensure tax-compliance and collaboration with other departments to achieve monetary goals.

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Finance Manager duties and responsibilities

Finance Managers are responsible for advising an organization on how to increase profit through prudent financial practices and monitoring and enforcing compliance with finance-related laws, procedures and regulations such as tax filing and financial reporting. They often have the following duties: 

  • Perform financial management duties including generating financial data, compiling and submitting reports, analyzing industry trends and assessing the financial health of the company.
  • Oversee the operations and development of the company’s finance departments including creating and reviewing policies, budgeting, recruiting, training and conducting regular assessments of financial procedures.
  • Supervise the preparation of quarterly and annual account reconciliations, monitor and enforce compliance with tax and financial reporting standards and assist with cash flow forecasting.
  • Advise colleagues and executive management on decisions related to the company’s finances.
  • Supervise the documentation of the company’s financial status and forecasts.
  • Mediate between the organization, employees, stakeholders, shareholders and investors on financial issues for amicable resolution of differences.
  • Create strategic business plans based on the analysis of the company’s status and financial forecasts.
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What does a Finance Manager do?

Finance Managers oversee the financial operations of an organization. They advise on investment plans, monitor the company’s finances and produce financial reports. They work closely with management to develop and implement strategies and plans to achieve the company’s long-term objectives. 

A finance Manager uses their in-depth analytical skills to help executives understand the financial health of the organization for improved decision making. They work in diverse industries including banking, insurance, hedge funds and manufacturing. With the increasing sophistication of technology, Finance Managers now use data analysis techniques to advise top management on profit maximization strategies.

Finance Manager skills and qualifications

Finance Managers use a variety of skills and industry knowledge to do their jobs effectively, which can include: 

  • Proven knowledge of financial analysis and strategy
  • Excellent verbal and written communication and presentation skills
  • In-depth knowledge of financial reporting standards, tax regulations and industry legislation
  • Analytical skills
  • Attention to detail
  • Interpersonal skills
  • Negotiation skills 

Finance Manager salary expectations

A Financial Manager earns an average of $66,744 per year. Salary may depend on a candidate’s education, level of experience and geographical location. 

Finance Manager education and training requirements

Most employers require candidates to have a bachelor’s degree in finance, accounting, business studies or a related field. Some employers require candidates to have a master’s degree. Professional certification isn’t a requirement for Finance Managers, but many Finance Managers obtain certifications to demonstrate their competency and improve their chances of getting hired. Some certifications that Finance Managers may earn include the Chartered Financial Analyst (CFA) certification, Certified Professional Treasury certification and Certified Public Accountant (CPA) certification. 

Finance Manager experience requirements

Most Finance Managers have 5 or more years’ previous work experience in another financial role, such as an Accountant or Financial Analyst. Finance Managers need a good understanding of accounting concepts, financial reporting standards and best practices. They also need to have experience with accounting software, statistical analysis tools and other industry-specific prediction applications. Experienced Finance Managers may eventually advance to more senior roles, like that of a Chief Financial Officer. 

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