Financial manager

Financial manager job description: Typical employers | Qualifications and training | Key skills | Useful links | Find jobs and courses

A wide range of organisations employ financial managers including: financial institutions, supermarkets, insurance companies, manufacturers, charities, utilities, local government, health authorities, industrial organisations, retailers, universities/colleges, IT companies and engineering firms. Responsibilities of the job include:

• collating, preparing and interpreting reports, budgets, accounts, commentaries and financial statements;
• undertaking strategic analysis and assisting with strategic planning
• producing long-term business plans
• undertaking research into pricing, competitors and factors affecting performance
• controlling income, cash flow and expenditure
• managing budgets
• developing and managing financial systems/models
• carrying out business modelling and risk assessments
• supervising staff
• liaising with managerial staff and other colleagues.

The majority of financial managers start their careers as accountants after having undertaken professional accountancy training. Vacancies are advertised via the internet, by careers services, specialist recruitment agencies, in newspapers and publications such as TARGETjobs City & Finance and Pass. The professional accountancy bodies also produce vacancy lists, which include training opportunities. Larger employers offer structured graduate training schemes and opportunities to gain experience via placements and vacation ‘taster’ courses. Opportunities to work overseas may be available with some employers. Early applications to major employers are advisable.

Qualifications and training required

Any degree is acceptable for entry, although employers may prefer graduates with qualifications in accountancy, statistics, economics, mathematics, management or business subjects. A relevant degree can reduce the length of time taken to gain professional qualifications with one of the accountancy bodies, enabling exemptions from a number of examinations. A relevant postgraduate qualification and/or previous work experience gained in any commercial area can be useful, particularly for mature students.

Key skills for financial managers

Employers look for evidence of good oral and written communication skills, self-motivation, commercial awareness, initiative and the ability to work as part of a team. Excellent problem-solving, analytical, technical, IT and numerical abilities are crucial.