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Become An Assistant Vice President

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Working As An Assistant Vice President

  • Interacting With Computers
  • Communicating with Supervisors, Peers, or Subordinates
  • Guiding, Directing, and Motivating Subordinates
  • Coaching and Developing Others
  • Establishing and Maintaining Interpersonal Relationships
  • Deal with People

  • Unpleasant/Angry People

  • Mostly Sitting

  • Make Decisions

  • $100,000

    Average Salary

What Does An Assistant Vice President Do

Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.

Duties

Financial managers typically do the following:

  • Prepare financial statements, business activity reports, and forecasts
  • Monitor financial details to ensure that legal requirements are met
  • Supervise employees who do financial reporting and budgeting
  • Review company financial reports and seek ways to reduce costs
  • Analyze market trends to maximize profits and find expansion opportunities
  • Help management make financial decisions

The role of the financial manager, particularly in business, is changing in response to technological advances that have substantially reduced the amount of time it takes to produce financial reports. Financial managers’ main responsibility used to be monitoring a company’s finances, but they now do more data analysis and advise senior managers on ways to maximize profits. They often work on teams, acting as business advisors to top executives.

Financial managers also do tasks that are specific to their organization or industry. For example, government financial managers must be experts on government appropriations and budgeting processes, and healthcare financial managers must know about topics in healthcare finance. Moreover, financial managers must be knowledgeable about special tax laws and regulations that affect their industry.

The following are examples of types of financial managers:

Chief financial officers (CFOs) are accountable for the accuracy of a company’s or organization’s financial reporting, especially among publicly traded companies. As head of a company’s entire financial department, they manage the lower level financial managers. They oversee the company’s financial goals, objectives, and budgets.

Controllers direct the preparation of financial reports that summarize and forecast the organization’s financial position, such as income statements, balance sheets, and analyses of future earnings or expenses. Controllers also are in charge of preparing special reports required by governmental agencies that regulate businesses. Often, controllers oversee the accounting, audit, and budget departments of their organization.

Treasurers and finance officers direct their organization’s budgets to meet its financial goals. They oversee the investment of funds and carry out strategies to raise capital (such as issuing stocks or bonds) to support the firm’s expansion. They also develop financial plans for mergers (two companies joining together) and acquisitions (one company buying another).

Credit managers oversee their firm’s credit business. They set credit-rating criteria, determine credit ceilings, and monitor the collections of past-due accounts.

Cash managers monitor and control the flow of cash that comes in and goes out of the company to meet the company’s business and investment needs. For example, they must project cash flow (amounts coming in and going out) to determine whether the company will have a shortage or surplus of cash. 

Risk managers control financial risk by using strategies to limit or offset the probability of a financial loss or a company’s exposure to financial uncertainty. Among the risks they try to limit are those that stem from currency or commodity price changes.

Insurance managers decide how best to limit a company’s losses by obtaining insurance against risks, such as the need to make disability payments for an employee who gets hurt on the job or the costs imposed by a lawsuit against the company.

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How To Become An Assistant Vice President

Financial managers typically have a bachelor’s degree and 5 years or more of experience in another business or financial occupation, such as an accountant, securities sales agent, or financial analyst.

Education

A bachelor's degree in finance, accounting, economics, or business administration is often the minimum education needed for financial managers. However, many employers now seek candidates with a master’s degree, preferably in business administration, finance, or economics. These academic programs help students develop analytical skills and learn financial analysis methods and software.

Licenses, Certifications, and Registrations

Professional certification is not required, but some financial managers still get it to demonstrate a level of competence. The CFA Institute confers the Chartered Financial Analyst (CFA) certification to investment professionals who have at least a bachelor’s degree, 4 years of work experience, and pass three exams. The Association for Financial Professionals confers the Certified Treasury Professional credential to those who pass an exam and have a minimum of 2 years of relevant experience.

Work Experience in a Related Occupation

Financial managers usually have experience in another business or financial occupation. For example, they may have worked as a loan officer, accountant, securities sales agent, or financial analyst. 

In some cases, companies provide formal management training programs to help prepare highly motivated and skilled financial workers to become financial managers.

Important Qualities

Analytical skills. Financial managers increasingly are assisting executives in making decisions that affect their organization, a task which requires analytical ability.

Communication skills. Excellent communication skills are essential because financial managers must explain and justify complex financial transactions.

Detail oriented. In preparing and analyzing reports such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors.

Math skills. Financial managers must be skilled in math, including algebra. An understanding of international finance and complex financial documents also is important.

Organizational skills. Financial managers deal with a range of information and documents and so they must stay organized to do their jobs effectively.

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Assistant Vice President jobs

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Average Length of Employment
Vice President 4.3 years
Corporate Director 4.0 years
Top Employers Before
Manager 6.9%
Consultant 4.6%
Associate 4.4%
Analyst 4.4%
Director 4.0%
Supervisor 3.5%
Top Employers After
Consultant 6.5%
Director 4.1%
Manager 3.1%
President 2.8%
Owner 2.3%
Principal 2.0%

Assistant Vice President Demographics

Gender

Male

56.4%

Female

41.1%

Unknown

2.6%
Ethnicity

White

77.5%

Hispanic or Latino

10.2%

Asian

9.7%

Unknown

1.8%

Black or African American

0.8%
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Languages Spoken

Spanish

41.4%

French

12.2%

Mandarin

6.5%

Chinese

5.3%

Portuguese

5.1%

German

4.8%

Italian

3.9%

Russian

3.0%

Japanese

2.8%

Cantonese

2.3%

Korean

2.1%

Hindi

2.0%

Arabic

1.7%

Urdu

1.4%

Greek

1.1%

Carrier

1.1%

Hebrew

1.0%

Vietnamese

0.7%

Gujarati

0.7%

Polish

0.7%
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Assistant Vice President Education

Schools

University of Phoenix

14.9%

New York University

11.7%

Fordham University

5.8%

Pace University - New York

5.8%

Villanova University

5.7%

Northeastern University

5.1%

DePaul University

4.7%

Hofstra University

4.2%

Columbia University

4.0%

Cornell University

4.0%

Saint John's University - New York

3.9%

Boston University

3.7%

University of Chicago

3.7%

University of Delaware

3.5%

Temple University

3.3%

University of Connecticut

3.2%

Northwestern University

3.2%

Michigan State University

3.2%

University of Southern California

3.2%

Baruch College of the City University of New York

3.1%
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Majors

Business

33.9%

Finance

18.6%

Accounting

9.4%

Management

5.1%

Marketing

4.0%

Economics

3.7%

Law

3.1%

Computer Science

2.8%

Political Science

2.5%

Human Resources Management

2.2%

Psychology

2.2%

Communication

2.1%

Education

1.8%

Computer Information Systems

1.4%

Criminal Justice

1.3%

Project Management

1.3%

Real Estate

1.3%

English

1.2%

Liberal Arts

1.1%

History

1.0%
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Degrees

Bachelors

42.5%

Masters

31.2%

Other

14.8%

Associate

3.9%

Doctorate

3.6%

Certificate

3.2%

Diploma

0.5%

License

0.3%
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Job type you want
Full Time
Part Time
Internship
Temporary

Real Assistant Vice President Salaries

Job Title Company Location Start Date Salary
Assistant Vice President-F&A Consulting Genpact LLC New York, NY Jul 12, 2015 $220,813
Assistant Vice President The University of Southern California Los Angeles, CA May 01, 2016 $215,000
Assistant Vice President Coventry Development Corporation New York, NY Jan 09, 2016 $210,000
Assistant Vice President Wafra Capital Partners, Inc. New York, NY Nov 21, 2016 $206,232
Assistant Vice President, Service Line Northwell Health Manhasset, NY Jan 01, 2016 $204,120
Assistant Vice President, Structurer/Trader Jefferies LLC New York, NY Feb 24, 2016 $201,510
Assistant Vice President, Investment Banking Division Barclays Capital Inc. New York, NY Jan 05, 2016 $200,000
Assistant Vice President, Banking-Advisory, Latin America Barclays Capital Inc. New York, NY Mar 09, 2016 $200,000
Assistant Vice President, Industrials Group Barclays Capital Inc. New York, NY Mar 09, 2016 $200,000
AVP, Banking, Technology, Media & Telecommunications Barclays Capital Inc. Menlo Park, CA Jan 01, 2016 $200,000
Assistant Vice President, Equity Capital Markets Barclays Capital Inc. New York, NY Mar 09, 2016 $200,000
Assistant Vice President, Equity Capital Markets Barclays Capital Inc. New York, NY Sep 11, 2016 $200,000
Assistant Vice President of Strategy Massachusetts Mutual Life Insurance Company Boston, MA Jul 28, 2015 $190,000
Assistant Vice President of Strategy Massachusetts Mutual Life Insurance Company Boston, MA Jun 12, 2016 $190,000
Assistant Vice President-Data Science Massachusetts Mutual Life Insurance Company Amherst, MA Oct 27, 2016 $119,700 -
$161,900
Assistant Vice President-Data Science Massachusetts Mutual Life Insurance Company Amherst, MA Jul 12, 2015 $119,700 -
$161,900
Assistant Vice President-Data Science Massachusetts Mutual Life Insurance Company Amherst, MA Dec 14, 2015 $119,700 -
$161,900
Assistant Vice President, Data Engineering Massachusetts Mutual Life Insurance Company Boston, MA Apr 21, 2015 $119,700 -
$161,900
Assistant Vice President of Data Science Massachusetts Mutual Life Insurance Company Amherst, MA Jun 08, 2015 $119,700 -
$161,900
Assistant Vice President-Data Science Massachusetts Mutual Life Insurance Company Boston, MA May 05, 2016 $119,700 -
$161,900
IT Business Senior Analyst, AVP Citibank, N.A New York, NY Sep 15, 2016 $119,200
Assistant Vice President Db Services Nj Inc. Jacksonville, FL Sep 01, 2015 $104,800
Assistant Vice President (Lead Technical Specialist) GTO Ists Core Infrastructure/Platform Delivery Db Services New Jersey, Inc. Jacksonville, FL Apr 25, 2016 $104,800
Assistant Vice President, Finance & Accounting China Merchants Bank Co., Ltd. New York, NY Apr 25, 2015 $104,600
AVP; Consultant-Applications Programmer Merrill Lynch Jacksonville, FL Sep 28, 2015 $104,550
AVP Maritime Finance Portfolio Cit Finance LLC New York, NY Jan 10, 2015 $104,520
AVP Maritime Finance Portfolio Cit Finance LLC New York, NY Apr 07, 2015 $104,520
Assistant Vice President BNP Paribas New York, NY Jan 10, 2016 $104,500

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Top Skills for An Assistant Vice President

FinancialStatementsEnsureComplianceProceduresLoanPortfolioAssetsRegulatoryComplianceExternalAuditorsClientRelationshipsCustomerServiceBankPoliciesRealEstateIncomeLossEquityBusinessDevelopmentBusinessUnitsRiskManagementAdditionalDueDiligenceP

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Top Assistant Vice President Skills

  1. Financial Statements
  2. Ensure Compliance
  3. Procedures
You can check out examples of real life uses of top skills on resumes here:
  • Credit Underwriter Analyze financial statements to support sound credit decisions.
  • Develop and recommend policies, procedures and programs to ensure compliance with existing regulations and best practices.
  • Worked with various testing partners to mitigate risks, exercise disaster recovery procedures and shake out new code packages.
  • Administered the loan portfolio for the bank including mortgages, consumer loans, student loans, and commercial loans.
  • Served as liaison with parent company for system conversion regarding fixed assets, tax reporting and employee benefit accounting.

Top Assistant Vice President Employers

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