What does a financial manager do
A financial manager is responsible for supervising and handling financial reports, investment portfolios, accounting, and all kinds of financial analysis for an organization. Additionally, he oversees cash management strategies and financial legislation and regulation. He manages the cash flow for an organization by supervising balance sheets, income statements, and the costs and revenue model.
The job responsibilities of a financial manager also involve supplying an efficient financial blue print and elucidating all the financial data for an organization, while minimizing costs and maximizing profits. The primary objective is to generate future revenue streams for an organization, while effectively managing the existing investments. He is also responsible for budgetary decisions and planning. Additionally, he must be well versed in the technical aspects of all kinds of financial decisions. This requires an in depth knowledge of various statuary litigation and legal regulations.
Financial management jobs greatly vary in terms of a specific job description. Generally, the types of businesses that require the services of a financial manager are in the private sector, financial institutes, banking, charities, and governmental institutes. Financial manager jobs can be divided into two broad categories: managerial finance and corporate finance.
Managerial finance involves assessment and appraisal for all kinds of financial activities happening in an organization. Managerial finance does not involve drafting and implementation of financial techniques or strategies. Rather, its primary focus is on the regulation and administration of the existing projects.
Corporate finance, on the other hand, delegates a task to maximize corporate value to a financial manager. A financial manager in such a job position has to deal in decisions involving capital investment, equity, and debt, along with paying dividends to shareholders. In addition, a corporate finance manager deals in decisions related to investment banking to raise capital for the company. He achieves this by trading in securities and bonds.
A financial manager might also work in the capacity of a treasurer or controller. A job position in this capacity involves provision of directives for the preparation of financial reports, balance sheets, income reports, and analysis of present and future costs and revenues.
Minimum academic qualification for a financial manager job is a bachelor-level degree in the disciple of finance, business administration, accounting, or economics. Advanced programs, more commonly known as financial certification programs, may also pursued by employees on the job. Some students opt for a master’s degree after completing their bachelor's to cope with the increasing complex nature of the global trends in financial management services.