Skip to main content

What does a finance manager do? Everything you should know

A woman talking with her colleagues at a table in a conference room.

Estimated reading time: 2 minutes 

Finance managers play a vital role in ensuring stability and long-term growth for a company. Their expertise and strategic decision making are instrumental in guiding an organization toward its financial goals and helping it reach business success. 

If you’re a finance professional who wants to advance into a leadership role, keep reading to learn what a finance manager does to see if it’s a role you’d like to pursue. 

What are the duties of a finance manager? 

The scope of a finance manager's role can vary depending on the size of the organization they work for and the industry they work in. 

Generally, finance managers provide leadership, support and analysis on operational and financial matters.  

Common responsibilities of finance managers include: 

  • Providing expertise on process improvements.
  • Giving financial support to the business.
  • Delivering advice on cost awareness and control-related projects.
  • Making plans for budgeting and forecasting.
  • Managing quarterly or annual financial reports.

What skills does a finance manager need?

A good finance manager needs to have a blend of technical and soft skills to successfully provide financial guidance to leadership within the company.

Some must-have skills include being:

  • Analytical: Finance managers need to analyze data, spot trends and make forecasts. These tasks can involve using complex software and spreadsheets to create reports.
  • Solution-driven: When financial issues arise, a finance manager must identify the problem and come up with effective solutions.
  • Detail-oriented: Finance management involves dealing with large amounts of data, and small discrepancies can have significant impacts. A keen eye for detail is critical to achieving successful results.
  • Articulate: Whether they lead their own team or work as part of a larger unit, finance managers must provide clear direction to help others make an informed decision.
  • Strategic: Finance managers have to create and carry out strategic financial plans that align with the company's mission and goals.

What are the requirements to be a finance manager?

At most companies, finance manager education requirements include having a bachelor's degree in areas such as accounting, finance or business.

Most companies also expect several years of work experience before you can become a finance manager. You can gain this experience by starting in other roles like:

  • A corporate accountant.
  • A financial analyst.
  • An internal auditor.
  • An accounts payable representative.
  • An accounts receivable representative.

Although it’s not always a requirement, many finance managers obtain professional designations, such as a Certified Professional Accountant (CPA) or a Chartered Financial Analyst (CFA) certification, to be more competitive in the job market. 

Shape your future with an industry leader.

Looking to advance your finance career? Schneider has a variety of job opportunities for new and experienced finance professionals. See what we have to offer and apply today. 
About the author
Author Picture

Valerie Klimek has been a part of the Corporate Recruiting team at Schneider since 2005 and is currently a Senior Corporate Recruiter. She has supported many areas including Sales, Operations, Finance and Human Resources, as well staffing multiple start-ups. Val has been active in creating content for social media, trialing new technology, processing improvement pilots and mentoring others.

More posts by this author
© Copyright 2024, Schneider. All rights reserved.