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Become A Finance Account Manager

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Working As A Finance Account Manager

  • 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

  • $139,520

    Average Salary

What Does A Finance Account Manager 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 A Finance Account Manager

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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10 Finance Account Manager jobs

Robert Half Management Resources
Ashburn, VA
Finance manager

$90,896 Estimated

Verizon Communications
Ashburn, VA
Finance Manager - Pricing

$90,896 Estimated

Verizon Communications
Ashburn, VA
Finance Manager Planning & Forecasting

$90,896 Estimated

Digital Realty
Ashburn, VA
Account Manager, Network Solutions

$69,181 Estimated

Digital Realty
Ashburn, VA
Account Manager, Enterprise Data Center Sales

$69,181 Estimated

L-3 National Security Solutions
Ashburn, VA
Compliance Manager

$97,533 Estimated

Loudoun Water
Ashburn, VA
Asset Manager

$73,732 Estimated

Verizon Communications
Ashburn, VA
Risk Management and Compliance Manager

$97,533 Estimated

Gecko Hospitality
Ashburn, VA
Area Manager - No late nights

$83,505 Estimated

Verizon
Ashburn, VA
Senior Risk Management and Compliance Manager

$97,533 Estimated

Robert Half Management Resources
Ashburn, VA
Finance manager

$90,896 Estimated

Verizon Communications
Ashburn, VA
Finance Manager - Pricing

$90,896 Estimated

Verizon Communications
Ashburn, VA
Finance Manager Planning & Forecasting

$90,896 Estimated

Digital Realty
Ashburn, VA
Account Manager, Network Solutions

$69,181 Estimated

Digital Realty
Ashburn, VA
Account Manager, Enterprise Data Center Sales

$69,181 Estimated

L-3 National Security Solutions
Ashburn, VA
Compliance Manager

$97,533 Estimated

Loudoun Water
Ashburn, VA
Asset Manager

$73,732 Estimated

Verizon Communications
Ashburn, VA
Risk Management and Compliance Manager

$97,533 Estimated

Gecko Hospitality
Ashburn, VA
Area Manager - No late nights

$83,505 Estimated

Verizon
Ashburn, VA
Senior Risk Management and Compliance Manager

$97,533 Estimated

Add To My Jobs

Real Finance Account Manager Salaries

Job Title Company Location Start Date Salary
Structured Finance Account Manager U.S. Bank National Association Chicago, IL Dec 05, 2012 $87,205
Corporate Trust Structured Finance Account Manager U.S. Bank National Association Chicago, IL Feb 01, 2011 $85,705
Finance & Accounts Manager World Wide Web Foundation Boston, MA Sep 20, 2012 $84,357
Finance and Account Manager JSW Steel USA, Inc. Baytown, TX Jul 02, 2015 $82,867
Finance & Account Manager Gendepot LLC Katy, TX Sep 25, 2013 $76,259
Finance Account Manager Associated Investor Services, Inc. Fort Lauderdale, FL Aug 18, 2008 $74,798
Manager, Accounts and Finance Infinite Convergence Solutions, Inc. Rockville, MD May 16, 2011 $73,500
Internal Finance & Defeasance Accounts Manager Chatham Financial Corporation Kennett Square, PA Dec 12, 2011 $73,000
Internal Finance & Defeasance Accounts Manager Chatham Financial Corporation Kennett Square, PA Oct 07, 2010 $70,000
Financial Planner and Account Manager Joint Development LLC New York, NY Sep 07, 2015 $66,262
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Top Skills for A Finance Account Manager

MonthlyFinancialStatementsAssetsPortfolioPayrollCustomerServiceAuditAccountsReceivablesFinancialAccountFinancialReportsAnnualRevenueIncomeFinancialAnalysisFinancialDataGeneralLedgerGaapAccountsPayablesFinancialServicesBankReconciliationCreditCardJournalEntries

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Top Finance Account Manager Skills

  1. Monthly Financial Statements
  2. Assets
  3. Portfolio
You can check out examples of real life uses of top skills on resumes here:
  • Implemented internal control practices and prepared monthly financial statements for the membership departments for nine branches.
  • Recorded and tracked fixed assets from purchasing to disposal including depreciation.
  • Trained, counseled, and assist with the development of employee's career portfolio.
  • Input G/L Bookkeeping entry, payroll processing, human resource, travel arrangements and daily correspondence.
  • Assist training & development of 5- star customer service script, Quality Assurance Develop Pending to Good Dept.
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Finance Account Manager Videos

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A Day in the Life of a Financial Controller at ANZ

Finance for Non Finance Managers: The P&L, Balance Sheet & Cash Flow