The Financial Manager is responsible for directing and coordinating the financial activities of workers in nearly every public organization, government agency and private firm. These activities can be developing strategies and long range plans, preparing financial reports, directing investments, and developing financial procedures, according to an organizational objective. The end goal of every Financial Manager is to manage funds in such a manner as to maximize return on investment (ROI) while minimizing risk. To do this effectively they must also engage in financial analysis fields doing forecasting, budgeting, and cost reduction analysis. Directing the budget process is critical for a functioning work environment as they take the information from forecasting and expenditures and report to department heads to determine needs and allocate resources. Without critical thinking behind budgeting, departments wouldn’t know how much money they have and what they can get for their department.
Financial Managers have four major accountabilities: Management, Funds Management, Budgeting, and Financial Analysis. With management they are responsible for documenting and maintaining accounting policies and procedures, managing outsourced functions, and overseeing operations of the treasury department. In fund management they are responsible for forecasting cash flows, ensuring the organization has sufficient funds to operate, determining the company’s capital structure, arranging debt and equity financing, and investing funds. With their budgeting accountability, they must manage the preparation for the budget, report to management the variances from the budget and the reasons, and assist in the formation of its overall strategic direction. Lastly, the Financial Manager is accountable for financial analysis, which includes engaging in ongoing cost reduction analysis, reviewing competitors and reporting to management, interpreting the company’s financial results and recommending improvements, assisting in the determination of product pricing in relation to features offered and competitor pricing, compiling key business metrics and reporting them, and managing the capital budgeting process.
If applying for a Financial Manager position, your resume should include all major job duties including budgeting, forecasting cash flow, cost reduction analysis, documenting policies and procedures, funds investment, reporting, directing investments and maximizing the organizations return on investment. Be sure to describe your duties specifically, such as how did you maximize ROI? Were you able to make a suggestion to management based on our financial analysis and competitor investigation? How did you direct department heads to use their funding as well as how they can budget effectively for next year with that funding? The more detailed you are shows the hiring manager your decision making, critical thinking, management of finances, and coordination, which are all essential to be a successful Financial Manager.
Financial Manager Resume Builder Power Words: finance, financial, management, cost reduction, funds, analysis, budget, forecast, investment, debt, equity, and treasury.