What does a Finance Manager do?
Finance Managers analyse a company’s financial transactions and provide guidance and advice to upper management on future financial plans. They influence all major business decisions and their role is important to the success of any company or organisation. Finance Managers work in a range of settings, including the private and public sector. They also work in a variety of industries, including insurance, healthcare, finance and banking.
Finance Manager skills and qualifications
A successful Finance Managers candidate will have various prerequisite skills and qualifications that typically include:
- Ability to direct others and delegate tasks
- Understanding of how to take action and seek solutions
- Strong written and verbal communication skills
- Analytical skills
- Ability to work with many other teams or individuals to resolve financial issues
- Advanced mathematical abilities for compiling and analysing data
- Attention to detail and in-depth understanding of international and domestic laws and regulations
- Technological skills and ability to work independently
Finance Manager experience requirements
Finance Managers must have at least five years or more of experience in another business or financial occupation, such as Financial Analyst, Securities Sales Agent and Accountant. Any work experience related to business or finance can be helpful.
Finance Manager education and training requirements
Employers usually require candidates to have at least a bachelor’s in business administration, economics, finance or accounting. Other fields may be acceptable if they involve management, business or finance. Some companies prefer candidates with a master’s degree. A master’s degree in finance, business administration and economics is ideal. Much of the training for the Finance Manager role takes place on the job in associate- or entry-level positions. Some employers require candidates to obtain industry-recognised certifications such as the Association of Chartered Certified Accountants (ACCA) certification, Chartered Accountant (CA) certification, Chartered Management Accountant (CMA) certification and Certified Public Accountant (CPA).
Finance Manager salary expectations
According to Indeed Salaries, the average salary of a Finance Manager in the UK is £42,450 per year. This figure varies depending on factors, including experience, location and company.
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