- Blog Categories
- Software Development
- Data Science
- AI/ML
- Marketing
- General
- MBA
- Management
- Legal
- Software Development Projects and Ideas
- 12 Computer Science Project Ideas
- 28 Beginner Software Projects
- Top 10 Engineering Project Ideas
- Top 10 Easy Final Year Projects
- Top 10 Mini Projects for Engineers
- 25 Best Django Project Ideas
- Top 20 MERN Stack Project Ideas
- Top 12 Real Time Projects
- Top 6 Major CSE Projects
- 12 Robotics Projects for All Levels
- Java Programming Concepts
- Abstract Class in Java and Methods
- Constructor Overloading in Java
- StringBuffer vs StringBuilder
- Java Identifiers: Syntax & Examples
- Types of Variables in Java Explained
- Composition in Java: Examples
- Append in Java: Implementation
- Loose Coupling vs Tight Coupling
- Integrity Constraints in DBMS
- Different Types of Operators Explained
- Career and Interview Preparation in IT
- Top 14 IT Courses for Jobs
- Top 20 Highest Paying Languages
- 23 Top CS Interview Q&A
- Best IT Jobs without Coding
- Software Engineer Salary in India
- 44 Agile Methodology Interview Q&A
- 10 Software Engineering Challenges
- Top 15 Tech's Daily Life Impact
- 10 Best Backends for React
- Cloud Computing Reference Models
- Web Development and Security
- Find Installed NPM Version
- Install Specific NPM Package Version
- Make API Calls in Angular
- Install Bootstrap in Angular
- Use Axios in React: Guide
- StrictMode in React: Usage
- 75 Cyber Security Research Topics
- Top 7 Languages for Ethical Hacking
- Top 20 Docker Commands
- Advantages of OOP
- Data Science Projects and Applications
- 42 Python Project Ideas for Beginners
- 13 Data Science Project Ideas
- 13 Data Structure Project Ideas
- 12 Real-World Python Applications
- Python Banking Project
- Data Science Course Eligibility
- Association Rule Mining Overview
- Cluster Analysis in Data Mining
- Classification in Data Mining
- KDD Process in Data Mining
- Data Structures and Algorithms
- Binary Tree Types Explained
- Binary Search Algorithm
- Sorting in Data Structure
- Binary Tree in Data Structure
- Binary Tree vs Binary Search Tree
- Recursion in Data Structure
- Data Structure Search Methods: Explained
- Binary Tree Interview Q&A
- Linear vs Binary Search
- Priority Queue Overview
- Python Programming and Tools
- Top 30 Python Pattern Programs
- List vs Tuple
- Python Free Online Course
- Method Overriding in Python
- Top 21 Python Developer Skills
- Reverse a Number in Python
- Switch Case Functions in Python
- Info Retrieval System Overview
- Reverse a Number in Python
- Real-World Python Applications
- Data Science Careers and Comparisons
- Data Analyst Salary in India
- Data Scientist Salary in India
- Free Excel Certification Course
- Actuary Salary in India
- Data Analyst Interview Guide
- Pandas Interview Guide
- Tableau Filters Explained
- Data Mining Techniques Overview
- Data Analytics Lifecycle Phases
- Data Science Vs Analytics Comparison
- Artificial Intelligence and Machine Learning Projects
- Exciting IoT Project Ideas
- 16 Exciting AI Project Ideas
- 45+ Interesting ML Project Ideas
- Exciting Deep Learning Projects
- 12 Intriguing Linear Regression Projects
- 13 Neural Network Projects
- 5 Exciting Image Processing Projects
- Top 8 Thrilling AWS Projects
- 12 Engaging AI Projects in Python
- NLP Projects for Beginners
- Concepts and Algorithms in AIML
- Basic CNN Architecture Explained
- 6 Types of Regression Models
- Data Preprocessing Steps
- Bagging vs Boosting in ML
- Multinomial Naive Bayes Overview
- Gini Index for Decision Trees
- Bayesian Network Example
- Bayes Theorem Guide
- Top 10 Dimensionality Reduction Techniques
- Neural Network Step-by-Step Guide
- Technical Guides and Comparisons
- Make a Chatbot in Python
- Compute Square Roots in Python
- Permutation vs Combination
- Image Segmentation Techniques
- Generative AI vs Traditional AI
- AI vs Human Intelligence
- Random Forest vs Decision Tree
- Neural Network Overview
- Perceptron Learning Algorithm
- Selection Sort Algorithm
- Career and Practical Applications in AIML
- AI Salary in India Overview
- Biological Neural Network Basics
- Top 10 AI Challenges
- Production System in AI
- Top 8 Raspberry Pi Alternatives
- Top 8 Open Source Projects
- 14 Raspberry Pi Project Ideas
- 15 MATLAB Project Ideas
- Top 10 Python NLP Libraries
- Naive Bayes Explained
- Digital Marketing Projects and Strategies
- 10 Best Digital Marketing Projects
- 17 Fun Social Media Projects
- Top 6 SEO Project Ideas
- Digital Marketing Case Studies
- Coca-Cola Marketing Strategy
- Nestle Marketing Strategy Analysis
- Zomato Marketing Strategy
- Monetize Instagram Guide
- Become a Successful Instagram Influencer
- 8 Best Lead Generation Techniques
- Digital Marketing Careers and Salaries
- Digital Marketing Salary in India
- Top 10 Highest Paying Marketing Jobs
- Highest Paying Digital Marketing Jobs
- SEO Salary in India
- Brand Manager Salary in India
- Content Writer Salary Guide
- Digital Marketing Executive Roles
- Career in Digital Marketing Guide
- Future of Digital Marketing
- MBA in Digital Marketing Overview
- Digital Marketing Techniques and Channels
- 9 Types of Digital Marketing Channels
- Top 10 Benefits of Marketing Branding
- 100 Best YouTube Channel Ideas
- YouTube Earnings in India
- 7 Reasons to Study Digital Marketing
- Top 10 Digital Marketing Objectives
- 10 Best Digital Marketing Blogs
- Top 5 Industries Using Digital Marketing
- Growth of Digital Marketing in India
- Top Career Options in Marketing
- Interview Preparation and Skills
- 73 Google Analytics Interview Q&A
- 56 Social Media Marketing Q&A
- 78 Google AdWords Interview Q&A
- Top 133 SEO Interview Q&A
- 27+ Digital Marketing Q&A
- Digital Marketing Free Course
- Top 9 Skills for PPC Analysts
- Movies with Successful Social Media Campaigns
- Marketing Communication Steps
- Top 10 Reasons to Be an Affiliate Marketer
- Career Options and Paths
- Top 25 Highest Paying Jobs India
- Top 25 Highest Paying Jobs World
- Top 10 Highest Paid Commerce Job
- Career Options After 12th Arts
- Top 7 Commerce Courses Without Maths
- Top 7 Career Options After PCB
- Best Career Options for Commerce
- Career Options After 12th CS
- Top 10 Career Options After 10th
- 8 Best Career Options After BA
- Projects and Academic Pursuits
- 17 Exciting Final Year Projects
- Top 12 Commerce Project Topics
- Top 13 BCA Project Ideas
- Career Options After 12th Science
- Top 15 CS Jobs in India
- 12 Best Career Options After M.Com
- 9 Best Career Options After B.Sc
- 7 Best Career Options After BCA
- 22 Best Career Options After MCA
- 16 Top Career Options After CE
- Courses and Certifications
- 10 Best Job-Oriented Courses
- Best Online Computer Courses
- Top 15 Trending Online Courses
- Top 19 High Salary Certificate Courses
- 21 Best Programming Courses for Jobs
- What is SGPA? Convert to CGPA
- GPA to Percentage Calculator
- Highest Salary Engineering Stream
- 15 Top Career Options After Engineering
- 6 Top Career Options After BBA
- Job Market and Interview Preparation
- Why Should You Be Hired: 5 Answers
- Top 10 Future Career Options
- Top 15 Highest Paid IT Jobs India
- 5 Common Guesstimate Interview Q&A
- Average CEO Salary: Top Paid CEOs
- Career Options in Political Science
- Top 15 Highest Paying Non-IT Jobs
- Cover Letter Examples for Jobs
- Top 5 Highest Paying Freelance Jobs
- Top 10 Highest Paying Companies India
- Career Options and Paths After MBA
- 20 Best Careers After B.Com
- Career Options After MBA Marketing
- Top 14 Careers After MBA In HR
- Top 10 Highest Paying HR Jobs India
- How to Become an Investment Banker
- Career Options After MBA - High Paying
- Scope of MBA in Operations Management
- Best MBA for Working Professionals India
- MBA After BA - Is It Right For You?
- Best Online MBA Courses India
- MBA Project Ideas and Topics
- 11 Exciting MBA HR Project Ideas
- Top 15 MBA Project Ideas
- 18 Exciting MBA Marketing Projects
- MBA Project Ideas: Consumer Behavior
- What is Brand Management?
- What is Holistic Marketing?
- What is Green Marketing?
- Intro to Organizational Behavior Model
- Tech Skills Every MBA Should Learn
- Most Demanding Short Term Courses MBA
- MBA Salary, Resume, and Skills
- MBA Salary in India
- HR Salary in India
- Investment Banker Salary India
- MBA Resume Samples
- Sample SOP for MBA
- Sample SOP for Internship
- 7 Ways MBA Helps Your Career
- Must-have Skills in Sales Career
- 8 Skills MBA Helps You Improve
- Top 20+ SAP FICO Interview Q&A
- MBA Specializations and Comparative Guides
- Why MBA After B.Tech? 5 Reasons
- How to Answer 'Why MBA After Engineering?'
- Why MBA in Finance
- MBA After BSc: 10 Reasons
- Which MBA Specialization to choose?
- Top 10 MBA Specializations
- MBA vs Masters: Which to Choose?
- Benefits of MBA After CA
- 5 Steps to Management Consultant
- 37 Must-Read HR Interview Q&A
- Fundamentals and Theories of Management
- What is Management? Objectives & Functions
- Nature and Scope of Management
- Decision Making in Management
- Management Process: Definition & Functions
- Importance of Management
- What are Motivation Theories?
- Tools of Financial Statement Analysis
- Negotiation Skills: Definition & Benefits
- Career Development in HRM
- Top 20 Must-Have HRM Policies
- Project and Supply Chain Management
- Top 20 Project Management Case Studies
- 10 Innovative Supply Chain Projects
- Latest Management Project Topics
- 10 Project Management Project Ideas
- 6 Types of Supply Chain Models
- Top 10 Advantages of SCM
- Top 10 Supply Chain Books
- What is Project Description?
- Top 10 Project Management Companies
- Best Project Management Courses Online
- Salaries and Career Paths in Management
- Project Manager Salary in India
- Average Product Manager Salary India
- Supply Chain Management Salary India
- Salary After BBA in India
- PGDM Salary in India
- Top 7 Career Options in Management
- CSPO Certification Cost
- Why Choose Product Management?
- Product Management in Pharma
- Product Design in Operations Management
- Industry-Specific Management and Case Studies
- Amazon Business Case Study
- Service Delivery Manager Job
- Product Management Examples
- Product Management in Automobiles
- Product Management in Banking
- Sample SOP for Business Management
- Video Game Design Components
- Top 5 Business Courses India
- Free Management Online Course
- SCM Interview Q&A
- Fundamentals and Types of Law
- Acceptance in Contract Law
- Offer in Contract Law
- 9 Types of Evidence
- Types of Law in India
- Introduction to Contract Law
- Negotiable Instrument Act
- Corporate Tax Basics
- Intellectual Property Law
- Workmen Compensation Explained
- Lawyer vs Advocate Difference
- Law Education and Courses
- LLM Subjects & Syllabus
- Corporate Law Subjects
- LLM Course Duration
- Top 10 Online LLM Courses
- Online LLM Degree
- Step-by-Step Guide to Studying Law
- Top 5 Law Books to Read
- Why Legal Studies?
- Pursuing a Career in Law
- How to Become Lawyer in India
- Career Options and Salaries in Law
- Career Options in Law India
- Corporate Lawyer Salary India
- How To Become a Corporate Lawyer
- Career in Law: Starting, Salary
- Career Opportunities: Corporate Law
- Business Lawyer: Role & Salary Info
- Average Lawyer Salary India
- Top Career Options for Lawyers
- Types of Lawyers in India
- Steps to Become SC Lawyer in India
- Tutorials
- Software Tutorials
- C Tutorials
- Recursion in C: Fibonacci Series
- Checking String Palindromes in C
- Prime Number Program in C
- Implementing Square Root in C
- Matrix Multiplication in C
- Understanding Double Data Type
- Factorial of a Number in C
- Structure of a C Program
- Building a Calculator Program in C
- Compiling C Programs on Linux
- Java Tutorials
- Handling String Input in Java
- Determining Even and Odd Numbers
- Prime Number Checker
- Sorting a String
- User-Defined Exceptions
- Understanding the Thread Life Cycle
- Swapping Two Numbers
- Using Final Classes
- Area of a Triangle
- Skills
- Explore Skills
- Management Skills
- Software Engineering
- JavaScript
- Data Structure
- React.js
- Core Java
- Node.js
- Blockchain
- SQL
- Full stack development
- Devops
- NFT
- BigData
- Cyber Security
- Cloud Computing
- Database Design with MySQL
- Cryptocurrency
- Python
- Digital Marketings
- Advertising
- Influencer Marketing
- Search Engine Optimization
- Performance Marketing
- Search Engine Marketing
- Email Marketing
- Content Marketing
- Social Media Marketing
- Display Advertising
- Marketing Analytics
- Web Analytics
- Affiliate Marketing
- MBA
- MBA in Finance
- MBA in HR
- MBA in Marketing
- MBA in Business Analytics
- MBA in Operations Management
- MBA in International Business
- MBA in Information Technology
- MBA in Healthcare Management
- MBA In General Management
- MBA in Agriculture
- MBA in Supply Chain Management
- MBA in Entrepreneurship
- MBA in Project Management
- Management Program
- Consumer Behaviour
- Supply Chain Management
- Financial Analytics
- Introduction to Fintech
- Introduction to HR Analytics
- Fundamentals of Communication
- Art of Effective Communication
- Introduction to Research Methodology
- Mastering Sales Technique
- Business Communication
- Fundamentals of Journalism
- Economics Masterclass
- Free Courses
Financial Manager Job Description: Roles & Responsibilities
Updated on 04 May, 2023
899.8K+ views
• 6 min read
Table of Contents
One of the main factors behind a company’s success is the individual efficiency of each department. Every department is an integral part of the organization, and their success affects the organization directly. Companies ensure that all departments are headed by able individuals who can ensure their smooth working. One such department omnipresent in all types of companies is Finance. Companies hire Financial Managers to help them tackle the company’s finances effectively and ensure that the firm follows the predetermined strategies to achieve desired goals. This is why the demand for Finance Professionals is rising. Over 64,200 job openings each year are projected to be created in the decade 2020-30.
Explore our Popular MBA Courses
What is Finance Management?
Finance Management, as the name suggests, involves managing a company’s finances. It involves proper planning, managing, and allocating funds to remain financially healthy. There are many finance-related decisions that financial managers have to take, such as dividends to be distributed, investments to be made, etc. Finance Management ensures that the company’s funds are utilised judicially and lead to efficient decision making. It also involves long-term planning of the company’s financial goal and devising detailed plans to achieve those objectives.
Learn MBA Courses from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career.
How can you become a Financial Manager?
Finance is one of the most sought-after fields as it offers a vast career scope and excellent monetary compensation. Some of the ways by which you can enter into the field of Finance Management are-
Bachelor’s degree-
The foremost requirement is to earn a Bachelor’s degree in Finance or related fields such as Economics and Accounting. This will help strengthen your foundational knowledge in the area.
Master’s degree-
Obtaining a Master’s degree can enhance your knowledge further in the field. You can earn a postgraduate degree in areas like Accounting, Business Management, and Economics. Some companies prefer individuals with a Master’s degree for the role of a Financial Manager.
Professional Certifications-
Certifications like Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA) also help make a career in the field of finance. Aspirants have to clear these exams in order to get the certification.
Online Courses-
Online courses are yet another way to gain relevant knowledge about the field of finance. You can opt for online degrees from reputed institutions, boot camps, etc., which will help you enter the world of Finance.
Work Experience-
Having relevant work experience as an intern or any other position such as Finance Analyst will help you get placed at top companies. The experience also enables you to stand out from the crowd and makes you an ideal job candidate.
Read Our Popular Articles Related to MBA
Skills needed to become a Financial Manager-
Leadership–
Many times, Financial Managers need to manage a team as they climb up the professional ladder. Hence, they should inculcate leadership skills.
Communication–
Finance Managers should have excellent communication skills as they interact with the top management, employees from other departments, etc.
Accounting–
One of the many roles of Finance Managers is to discuss the financial reports and draw insights from them. Hence, they should have knowledge in the field of accounting too.
Problem-solving-
Finance Managers have to manage many different aspects of the business. They need problem-solving skills to help tackle difficult circumstances by using wit and knowledge.
Technological skills–
Financial managers should be proficient in new technology, which can help them efficiently manage the tasks and complete them in less time.
Roles and Responsibilities of a Financial Manager-
A Financial Manager’s roles and responsibilities are numerous because of the vital role they play in the organization. Some of the roles and responsibilities of a Finance Manager are-
Fund Raising-
Companies have to regularly raise funds to meet specific business requirements. The job of a Financial Manager is to help facilitate the raising of funds either through debt or equity from interested investors at favorable terms and conditions.
Allocating Funds-
The funds need to be allocated to different departments according to their needs. Finance managers have to keep in mind various aspects such as whether the fund is long-term or short-term, which departments can most optimally utilise the funds, etc. This is an essential job which requires an excellent knowledge of the company and its objectives.
Budgeting-
Financial managers are tasked with preparing budgets detailing the expected future expenditures, sales, employee salaries, and revenue. It helps the management manage the company’s finances properly and work along a systematic budget. Finance managers need to consider various factors as well as sources of cost and revenue.
Constructing Cash Flow Statements-
Finance managers have to keep account of the cash flows of the business. They prepare cash flow statements which help them keep in check the input and output of money.
Being Informed About the Capital Markets-
If the company is listed on the stock, there is continuous purchase and sale of securities in the capital markets. This also involves a lot of risks. Financial managers should adequately understand the capital markets as they have to calculate the risks involved.
If you are interested in making a career as a Finance Manager, you can check out the Master’s of Business Administration (MBA) in Marketing Finance from the esteemed institution Liverpool Business School in collaboration with upGrad. You get the chance to network with fellow peers spanning several domains, which will help in your professional career. You will also be able to learn from industry experts and the esteemed faculty of O.P. Jindal Global University and can also take advantage of mock interviews, job fairs, etc.
Conclusion-
The growth of companies following globalization has opened up many job roles for people in different sectors. This growth has accelerated further with the advent of the Internet and is expected to continue in the future. The Finance sector is one such field which has always been a beneficiary. According to the Bureau of Labor Statistics (BLS), the employment rate of Financial Managers is expected to grow by 17% in the period from 2020 to 2030.
Frequently Asked Questions (FAQs)
1. What is the average salary of a Financial Manager?
Financial Managers are paid handsome monetary compensation for the value they bring to the organization. The average salary of a Financial Manager in India is approximately INR 10 lakhs per annum. The number varies according to the work experience, job location, company, etc.
2. What is the career scope in the field of Finance Management?
The field of Finance Management is vast. There are many job roles available for people in the area of such as Accountant, Finance Officer, Financial Analyst, Risk Manager, Investment Banking Analyst, etc.
3. What are some of the companies that hire Financial Managers?
Finance Managers are one of the essential professionals in any company. This is because any type of company has a Finance department to take care of the monetary aspect of the business. Many of the big names that hire Finance Managers at excellent monetary compensation and fringe benefits are Deloitte, IBM, Wipro, KPMG, etc.