Finance Manager Job Description [Updated for 2024] (2024)

In the modern business landscape, the role of finance managers has never been more pivotal.

As economic landscapes evolve, the demand for skilled professionals who can manage, optimize, and protect an organization’s financial health increases.

But let’s delve deeper: What is truly expected from a finance manager?

Whether you are:

• A job seeker trying to comprehend the intricacies of this role,
• A hiring manager formulating the profile of the perfect candidate,
• Or simply captivated by the complexities of financial management,

You’re in the right place.

Today, we present a customizable finance manager job description template, designed for effortless posting on job boards or career sites.

Let’s dive right into it.

Finance Manager Duties and Responsibilities

Finance Managers are responsible for the financial health of an organization.

They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.

Their duties and responsibilities include:

• Preparing financial statements, business activity reports, and forecasts
• Monitoring financial details to ensure that legal requirements are met
• Supervising employees who do financial reporting and budgeting
• Reviewing company financial reports and seeking ways to reduce costs
• Analyzing market trends to maximize profits and find expansion opportunities
• Helping management make financial decisions
• Developing and implementing strategies for financial goals of the organization
• Working with auditors to ensure proper compliance with all regulations
• Evaluating and managing risk
• Ensuring cash flow is appropriate for the organization’s operations

Finance Manager Job Description Template

Job Brief

We are in search of an experienced Finance Manager who can effectively manage and oversee the financial aspects of our business.

The Finance Manager will be responsible for budgeting, forecasting, account reconciliation, profit and loss reporting, and ensuring compliance with state and federal laws.

The ideal candidate will have a strong background in finance or a related field, with proven strategic planning and financial analysis skills.

They will contribute to decision-making and company strategy, reflecting the financial perspective in all engagements.

Responsibilities

• Manage and oversee the daily operations of the finance department
• Monitor and analyze financial data and create financial models for decision support
• Develop and implement financial controls and processes
• Prepare monthly financial reports including budgets, forecasts, and cash flow
• Ensure compliance with accounting policies and regulatory requirements
• Coordinate with external auditors and manage internal controls
• Advise on long-term business and financial planning
• Review financial data and prepare monthly and annual reports
• Present financial reports to board members, stakeholders, executives, and clients in formal meetings

Qualifications

• Proven work experience as a Finance Manager or similar role
• Strong understanding of business principles and practices
• Superior attention to detail, organizational skills, and multitasking abilities
• Excellent knowledge of data analysis and forecasting methods
• Ability to strategize and solve problems
• Understanding of private and public funding regulations
• Proficient user of finance software
• A solid understanding of financial statistics and accounting principles
• Working knowledge of all statutory legislation and regulations
• BS/MA degree in Finance, Accounting or Economics
• Professional qualification such as CFA/CPA or similar is considered a plus

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

Additional Information

• Job Title: Finance Manager
• Work Environment: Office setting with options for remote work. Some travel may be required for team meetings or consultations.
• Reporting Structure: Reports to the Chief Financial Officer or Director of Finance.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $85,000 minimum to $150,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

What Does a Finance Manager Do?

A Finance Manager is a professional who is responsible for the financial health of an organization.

They work in a variety of sectors such as businesses, government bodies, and non-profit organizations.

Their primary role is to manage and supervise financial affairs, which includes developing long-term financial strategies, budget planning, cost-benefit analysis, and forecasting future financial performance.

They also monitor and analyze the company’s financial details to ensure legal requirements are met, reviewing financial reports and finding ways to reduce costs.

Finance Managers are also responsible for advising management on financial decisions, coordinating with other managers to develop financial plans, and preparing financial statements, business activity reports, and forecasts.

Many Finance Managers are also involved in investment activities, sourcing and managing investment opportunities for the company, and working to maximize return on investment while minimizing risk.

Overall, a Finance Manager plays a critical role in providing financial guidance and support to a company, enabling it to make sound business decisions.

Finance Manager Qualifications and Skills

A successful Finance Manager should have a mix of hard and soft skills that align with your job requirements, such as:

• Strong financial analysis skills to review financial data, prepare reports, budget, forecast future expenses, and make informed decisions to enhance profitability and sustainability.
• Proficient in the use of financial software and applications to manage financial processes and data efficiently.
• Exceptional communication skills to present financial information clearly to stakeholders, including non-financial members, and to effectively lead the financial team.
• Attention to detail for accurate financial reporting and to identify any discrepancies or potential issues.
• Excellent decision-making skills to make strategic financial decisions that align with the company’s goals and objectives.
• Strong problem-solving skills to identify and address financial issues or concerns and to develop effective solutions.
• Good knowledge of financial regulations and laws to ensure the company’s financial practices are in compliance.
• Leadership skills to manage and develop the finance team, and to collaborate effectively with other departments.
• Effective time management skills to meet deadlines for financial reporting and other tasks.

Finance Manager Experience Requirements

Finance Manager positions typically require a minimum of five to seven years of experience in accounting or finance roles.

Candidates are generally expected to have gained a solid foundation in financial analysis, budgeting, forecasting, and financial reporting in these roles.

Many employers prefer candidates who have experience working within their specific industry.

For example, a Finance Manager in a manufacturing company may benefit from prior experience in the manufacturing industry.

Most Finance Manager roles require a Bachelor’s degree in Finance, Accounting, Economics or a related field as a minimum educational requirement.

However, a Master’s degree in Business Administration (MBA) or a certification such as Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA) can give candidates an edge.

Candidates with more than 10 years of experience, especially those with a background in supervising teams and developing financial strategies, may be considered for senior-level positions such as Director of Finance or Chief Financial Officer.

Strong computer skills, particularly with financial software and spreadsheet programs, are also often a requirement for Finance Manager roles.

Candidates may have gained this experience in previous roles or through specific training programs.

Finance Manager Education and Training Requirements

Finance Managers typically require a bachelor’s degree in finance, accounting, economics, or a related field.

Their studies should focus on areas such as risk management, investments, and financial analysis to ensure they are equipped with the necessary skills and knowledge.

In addition to a bachelor’s degree, many employers prefer candidates with a master’s degree in business administration (MBA) with a specialization in finance.

This degree helps finance managers gain a deeper understanding of corporate finance and capital markets.

Moreover, certain roles may require Finance Managers to hold certifications such as the Chartered Financial Analyst (CFA) or Certified Treasury Professional (CTP).

Work experience in a related field is also highly beneficial.

This experience can be gained through internships or entry-level positions in finance or accounting.

Continued professional development is essential for Finance Managers to stay up-to-date with evolving financial regulations and trends.

They can achieve this through advanced courses and seminars in finance and related fields.

Finance Manager Salary Expectations

A Finance Manager earns an average salary of $127,990 (USD) per year.

The actual compensation can differ depending on factors such as the individual’s years of experience, the industry in which they work, the size of the company, and the location of the company.

Finance Manager Job Description FAQs

What skills does a Finance Manager need?

A Finance Manager should possess strong analytical skills to interpret complex financial data and make informed business decisions.

They should have excellent communication and presentation skills to convey financial information to non-finance professionals.

They should also possess leadership skills to manage a team of financial analysts or accountants.

Do Finance Managers need a degree?

Yes, Finance Managers typically need a bachelor’s degree in Finance, Accounting, Economics, or a related field.

Many employers prefer candidates who also have a master’s degree in Business Administration (MBA) or a related field.

Professional certifications such as Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA) may also be beneficial.

What should you look for in a Finance Manager’s resume?

Look for a strong background in finance with a bachelor’s degree in a related field as a minimum.

Experience in a financial role is also essential, as is familiarity with financial software.

Additionally, any demonstrated leadership roles or achievements in previous positions can be a good indicator of a candidate’s potential as a Finance Manager.

Also, pay attention to any certifications that the candidate may hold.

What qualities make a good Finance Manager?

A good Finance Manager should be detail-oriented and should have a deep understanding of financial principles and practices.

They should be able to strategize, plan, and manage financial operations effectively.

Good problem-solving skills and the ability to make informed decisions are also important.

In addition, they should possess strong leadership skills to motivate and manage their team effectively.

Is it difficult to hire Finance Managers?

The challenge in hiring Finance Managers often lies in finding candidates who combine strong technical financial knowledge with excellent leadership and communication skills.

Since the role requires strategic planning and decision-making, employers often seek candidates with significant experience in financial roles.

Therefore, attracting and retaining high-quality candidates may require competitive compensation packages and opportunities for career advancement.

Conclusion

So there you have it.

Today, we’ve demystified what it really means to be a finance manager.

And guess what?

It’s not just about crunching numbers.

It’s about driving the financial health and success of a business, one strategic decision at a time.

With our go-to finance manager job description template and real-world examples, you’re all set to make your next career move.

But why stop there?

Dig deeper with our job description generator. It’s your next step to creating precise job listings or refining your resume to perfection.

Remember:

Every financial decision is part of a larger business strategy.

Let’s shape that future. Together.

Reasons to Become a Finance Manager (Command the Cash Flow)

How to Become a Finance Manager (Complete Guide)

Disadvantages of Being a Finance Manager (Profit Isn’t Everything)

Finance Manager Resume Headlines

The New Work Frontier: Remote Jobs That Pay More Than You Imagine!

The Workday Woes: The Most Hated Jobs in the Daily Hustle

A Surprising Reality Check: The Jobs With the Lowest Pay in 2024

Strangely Satisfying: Bizarre Jobs That People Love