Q:

What does a finance manager do?

A:

A finance manager oversees and directs the preparation of financial statements, financial forecasts and other financial reports required by the employing company or organization. Many finance managers also monitor company performance and industry and market trends in order to assist company executives in strategic business planning.

Finance managers work under a number of different job titles indicating a special work focus. A chief financial officer (CFO) heads a company’s financial operations and, in the case of a publicly traded company, is responsible for the accuracy of the company’s financial reports. CFOs often participate in business planning and decision-making functions in an advisory role to the chief economic officer or chief operating officer of the company.

Treasurers and finance officers coordinate an organization’s financial planning and budgeting functions. They manage cash flow and maintain credit availability to ensure the company is able to meet the financial demands of its operations. In cases of cash surplus, they oversee the investment of the those funds. They also prepare financial plans for company expansion and for mergers and acquisitions.

Cash managers and credit managers typically work under the direction of a treasurer or finance officer to monitor and manage cash and credit accounts on a day-to-day basis. Risk managers work to minimize exposure to the financial risks associated with business operations.

Sources:

  1. bls.gov
  2. bls.gov

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