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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.
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.
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.
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.
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.
|Job Title||Company||Location||Start Date||Salary|
|Chief Financial Officer||Kraft Heinz Foods Company||Northfield, IL||Sep 21, 2015||$600,000|
|Chief Financial Officer||99 Cents Only Stores, LLC||Commerce, CA||Sep 04, 2015||$550,000|
|Chief Financial Officer||Ciena Healthcare Management, Inc.||Southfield, MI||Feb 01, 2015||$525,000|
|Chief Financial Officer||Ciena Healthcare Management, Inc.||Southfield, MI||Feb 01, 2016||$525,000|
|Chief Financial Officer||Wandisco||San Ramon, CA||Mar 31, 2015||$480,000|
|Chief Financial Officer||Swift Beef Company||Greeley, CO||Aug 10, 2015||$460,000|
|Coo/Cfo||John Hardy USA Inc.||New York, NY||Jan 07, 2015||$450,000|
|Chief Financial Officer||John Hardy USA Inc.||New York, NY||Mar 23, 2016||$450,000|
|Coo/Cfo||John Hardy Management Inc.||New York, NY||Mar 16, 2015||$450,000|
|Chief Financial Officer||John Hardy USA Inc.||New York, NY||Oct 21, 2015||$450,000|
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