Financial Manager

A financial manager typically works directly for a business or a consulting company however, a financial manager is able to work in a variety of areas. The financial manager assists the company to identify the weaknesses and dangers in its financial position. The manager offers suggestions on the best way to ensure that financial goals are attained.

The financial manager could also be responsible for formulating realistic financial goals for clients or the business should strive for. Even businesses that make huge profits require financial managers, in order to ensure that future decisions are made in a timely manner and costs are reduced. The job involves conducting research to identify the areas of weakness or patterns in the past. It is also important to analyze the financial activities of rivals, so as to gain knowledge where appropriate. Financial managers can help in making crucial financial decisions, and it is essential that the ideas are thoroughly researched and thought through. Another thing the financial manager can conduct audits to ensure that the company's policies as well as federal and local rules and laws are being followed.

It is essential to possess an excellent computer and research skill in order to produce financial statements, reports on business activities as well as forecasts of your financial outlook. Financial managers can also assist employees to manage their own budgeting and reporting requirements, which is why the ability to speak in public may be useful. A bachelor's degree in business, finance, or any other related field is typically required for this job. Because this is a managerial position with relevant experience, years of work are usually needed.

As an Financial Manager with 3-6 years of experience in India, main responsibilities include:

• Develop and implement financial strategies and forecasting models to optimize business performance and ensure profitability.
• Prepare and manage budgets, control expenses, and identify cost-saving opportunities to improve operational efficiency.
• Generate accurate financial statements and reports, analyze variances, and provide insights to support decision-making.
• Identify viable investment opportunities, evaluate risk levels, and execute financial investment plans to maximize returns.

Major educational qualifications required for Financial Manager are:

• A bachelor's degree in Finance or accounting; CPA is an added benefit.
• Experience working in the field of accounting or financial analysis.
• Ability to synthesize large amounts of data into useful information.
• Ability to effectively communicate with business partners.
• Superior analytical, business judgment and decision-making abilities.
• Experience with financial reporting and tools for mining data such as SQL, Access, etc.
• Proficiently demonstrated usage of Excel, Word, and PowerPoint.

Some Alternative job roles available for Financial Controller are:

• Junior Accountant: Assists in financial record keeping, analysis, and report generation for a company's accounting department.
• Financial Analyst: Conducts financial research and analysis, providing insights and recommendations to assist in investment decisions and business planning.
• Business Analyst: Identifies business needs, gathers requirements, and analyzes data to improve processes and support decision making within an organization.
• Accounts Payable Specialist: Manages the payment process, ensuring accurate and timely processing of invoices and reconciliation of accounts payable.

The financial services sector in India is healthy and, perhaps more critically, rising. The middle class in the nation is expanding and is expected to account for 20% of the overall population by 2016 and 37% by 2026, according to data by Deloitte.
Financial Managers' employment is expected to increase by 17% between 2020 and 2030, according to the US Bureau of Labor Statistics (BLS). The BLS credits improving the broader economy as the cause of this favorable job outlook. These forecasts might alter depending on changes in the economy and the demand for Financial Managers, which varies by sector and level of expertise.
In the coming ten years (by 2030), India will notice an expected 17% growth in the employment of Financial Managers.