Details for Financial Managers
Plan, direct, and coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.
- 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.
- Recruit staff members.
- Prepare operational or risk reports for management analysis.
- Evaluate data pertaining to costs to plan budgets.
- Oversee training programs.
- 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.
- 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.
- 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.
- 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.
- 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.
- Review reports of securities transactions or price lists to analyze market conditions.
- Direct insurance negotiations, select insurance brokers or carriers, and place insurance.
- Submit delinquent accounts to attorneys or outside agencies for collection.
- Enterprising - 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 - 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.
Education, training, experience
- Education - Most of these occupations require a four-year bachelor's degree, but some do not.
- Training - Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
- 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.
- Personnel and Human Resources -Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
- Clerical -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.
- Law and Government -Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Education and Training -Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
- Computers and Electronics -Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- Sales and Marketing -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.
- Customer and Personal Service -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 -Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Mathematics -Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Economics and Accounting -Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- Administration and Management -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.