{"id":148876,"date":"2023-07-15T10:50:05","date_gmt":"2023-07-15T10:50:05","guid":{"rendered":"https:\/\/businessyield.com\/?p=148876"},"modified":"2023-07-28T22:46:57","modified_gmt":"2023-07-28T22:46:57","slug":"financial-manager","status":"publish","type":"post","link":"https:\/\/businessyield.com\/careers\/financial-manager\/","title":{"rendered":"FINANCIAL MANAGER: Meaning, Duties, Salary, Roles & Personal Manager","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

As an individual with allegiance to a career in finance, then you may be interested in working as a financial manager. With the right combination of education, experience, and skills, success and job satisfaction is highly achievable. That is to say, there are certain steps to becoming a personal financial manager for an organization, and it’s important to learn so you can plan how to approach making a career in this role while earning a salary. To help you we have compiled the necessary 10 roles and functions of a financial manager you need to know.<\/p>

Overview<\/span><\/h2>

A financial manager is responsible for managing the finances of an organization. They ensure the organization maintains adequate cash flow and liquidity through budgeting, accounting, and financial planning. Financial managers also prepare reports on how well the organization meets its budget goals. Typically, the primary purpose of a financial manager is to maximize the value of an organization’s investments and ensure that financial resources are used in the most effective way possible while earning a salary.<\/p>

How To Become a Financial Manager<\/span><\/h3>

One of the biggest challenges for organizations is finding out the best way to maximize profits. Executive leadership teams often rely on financial managers to create reports and perform financial analyses before making business decisions. So, if you are planning to become a finance manager, here are the steps.<\/p>

#1. Complete High School<\/span><\/h4>

A high school diploma or equivalent is the first step toward becoming a financial manager. As employers require a minimum of a bachelor’s degree in a finance-related field, consider completing business and economics courses, as well as varying math classes.<\/p>

#2. Acquire a Bachelor\u2019s Degree<\/span><\/h4>

While having a degree in finance, accounting or economics will provide you with more relevant finance knowledge, a bachelor\u2019s degree in business is also useful. A business or finance degree will offer classes that help students learn how businesses operate and teach them the important analytical skills they need to succeed in a finance career.<\/p>

#3. Engage in an Internship Program<\/span><\/h4>

A degree will brace you with theoretical knowledge. To start your professional journey, a finance-related internship would be helpful. You can enroll in internships while pursuing your degree as well.<\/p>

#4. Acquire Certification<\/span><\/h4>

It is not compulsory, but a certificate in some specific areas of finance is an added advantage. To choose the best certification to pursue, research more about the requirements to sit for the exam and what career path is best served by the certification. This is because certifications help increase your expertise in a subject, further showcasing your preparation for a career in finance.<\/p>

#5. Earn a Master\u2019s Degree<\/span><\/h4>

You may also opt to get your master’s degree in one of these fields, which in turn makes you more equipped for your chosen career and qualification for a variety of positions. By earning a master’s degree, you’re showcasing your advanced knowledge and proficiency in important subjects for the industry.<\/p>

#6. Acquire & Advance Your Skills<\/span><\/h4>

Taking financial courses to gain additional knowledge can help improve your chances of getting a job as a financial manager. With a wide range of responsibilities, financial managers must have the appropriate skills to handle various tasks. Along with being conversant with numbers, a financial manager will need the following skill sets to advance to more senior positions for higher salary,<\/p>