Senior Financial Managers Organize and Oversea Budgets to Reach Financial Goals?

Answer 1

Almost every government agency, private company, and other organizations employ at least one senior finance manager. Senior finance jobs include controller, finance manager, treasurer, chief financial officer, risk and insurance manager, credit manager, and manager of international banking. Each title comes with specific duties like directing investment activities, preparing financial statements, and implementing cash management strategies.

Controllers are responsible for preparing reports for certain regulatory agencies and they oversea accounting, budget, and auditing departments. Treasurers and financial officers supervise cash management activities, oversea the investment of company funds, and execute capital raising strategies for expansion. Credit managers monitor the collection of past due accounts, determine credit ceilings, and establish credit rating criteria.

Cash managers control the flow of cash receipts and disbursements to meet investment and business needs. A risk and insurance manager focuses on minimizing losses that may occur from business operations and financial transactions that carry a high level of risk if implemented. International finance managers develop accounting and financial systems and track foreign currency values for multinational companies.

Education, Training, and Other Qualifications

Senior financial jobs for most companies are filled by mangers that have strong math and business skills. A master's degree in finance, economics, or business administration is required by most companies before finance managers can move into senior finance jobs. Experience is just as important as formal education. Company training programs that focus on finance help some managers reach senior level positions. Excellent communication plus strong problem solving skills, along with team management training are also important personal qualifications. Professional certifications given by financial associations also help finance managers fill senior finance jobs.

Salary and Benefits

Senior finance manager positions are expected to grow by eight percent over the next eight years. Ninety percent of that growth will be in private sector and ten percent in government agencies. The average salary for senior finance jobs is around $73,000 a year plus benefits. Most senior finance managers earn over $100,000 a year plus a bonus, stock options, and excellent benefits. Top senior finance managers earn well over $150,000 plus excellent stock incentives and bonuses that match their salary.