What does a finance management specialist do?
A finance management specialist is in charge of overseeing and managing a company's financial activities, ensuring accuracy and smooth workflow. They typically coordinate with different departments to gather accurate data, manage budgets and schedules, prepare cost and budget reports, and assess existing procedures to identify areas needing improvement. They must also maintain extensive records, produce sales forecasts, and participate in creating financial goals and objectives. Furthermore, as a finance management specialist, it is essential to develop strategies to optimize financial operations, all while implementing the company's policies and regulations.
Finance management specialist responsibilities
Here are examples of responsibilities from real finance management specialist resumes:
- Specialize in data collection logistics and documentation on specific vehicles and manage inventory using CRM applications.
- Project team member on ERP implementations for several clients.
- Execute and, validate all credit card purchases in ERP and with DFAS.
- Process incoming checks from employees & other outside sources for deposit to the U.S. Treasury.
- Ensure GAAP compliance in revenue recognition, forecasting, internal account structure management, reporting & analysis.
- Prepare monthly, quarterly, and annual forecasts including trend/margin analysis, and ensuring proper GAAP revenue recognition.
- Perform account reconciliations and general ledger entries.
- Analyze reverse logistics and warehouse discrepancies for defective and return consumer electronics.
- Support payroll procedures for both domestic and international troops and foreign nationals.
- Conduct monthly and year-end reconciliation of program expenditures to official treasury records.
- Communicate effectively with program offices to conduct conference planning and arrange conference logistics.
- Process payroll nationally and internationally requiring an understanding of various state regulations and requirements.
- Prepare end-of-month trial balance that include posting account expenditures, account reconciliations, as well as researching and adjusting out-of-balance conditions.
- Identify several ongoing reporting mistakes and leverage accounting experience to determine and implement solutions to align with the standard accounting policy.
- Spearhead the success of the implementation of QuickBooks accounting system for firm's accounting department.
Finance management specialist skills and personality traits
We calculated that 10% of Finance Management Specialists are proficient in Financial Resources, Financial Reports, and Financial Data. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.
We break down the percentage of Finance Management Specialists that have these skills listed on their resume here:
- Financial Resources, 10%
Developed, reviewed and implemented Agency-wide policies for improvement of management, control, and productivity of financial resources.
- Financial Reports, 7%
Evaluated highly complex integrated budgets, financial reports and projections for the accurate reporting of financial standings for continuity efforts.
- Financial Data, 6%
Reviewed financial transactions and determined validity of financial data passed between computerized accounting systems and DFAS computer systems.
- Budget Formulation, 6%
Compile data and provide estimates to support budget formulation, and perform variance analysis between budget plan and actual budget execution.
- Budget Execution, 5%
Identified/developed comprehensive forecasting of contractual obligations/validations and budget execution.
- Financial Management Systems, 5%
Conducted audits and reconciled finance separation payments using automated financial management systems.
"financial resources," "financial reports," and "financial data" are among the most common skills that finance management specialists use at work. You can find even more finance management specialist responsibilities below, including:
Analytical skills. One of the key soft skills for a finance management specialist to have is analytical skills. You can see how this relates to what finance management specialists do because "to assist executives in making decisions, financial managers need to evaluate data and information that affects their organization." Additionally, a finance management specialist resume shows how finance management specialists use analytical skills: "assess systems and procedures used to generate financial reports for the quality, and utility of the data and data displays. "
Communication skills. Many finance management specialist duties rely on communication skills. "financial managers must be able to explain and justify complex financial transactions.," so a finance management specialist will need this skill often in their role. This resume example is just one of many ways finance management specialist responsibilities rely on communication skills: "implemented numerous process improvements impacting forecast accuracy, cost allocation accuracy, and inter-departmental communications. "
Detail oriented. This is an important skill for finance management specialists to perform their duties. For an example of how finance management specialist responsibilities depend on this skill, consider that "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." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a finance management specialist: "received, reviewed and processed pay documents, contracts, and travel vouchers with attention to detail. ".
Math skills. finance management specialist responsibilities often require "math skills." The duties that rely on this skill are shown by the fact that "financial managers need strong skills in certain branches of mathematics, including algebra." This resume example shows what finance management specialists do with math skills on a typical day: "provided quantitative/qualitative analysis, programming and execution of hq af a3/5 $145 million portfolio. "
Organizational skills. Another common skill required for finance management specialist responsibilities is "organizational skills." This skill comes up in the duties of finance management specialists all the time, as "because financial managers deal with a range of information and documents, they must have structures in place to be effective in their work." An excerpt from a real finance management specialist resume shows how this skill is central to what a finance management specialist does: "monitored budget execution, ensuring organizational requirements are in line with the yearly spend plan ($18 million). "
The three companies that hire the most finance management specialists are:
Compare different finance management specialists
Finance management specialist vs. Assistant director of finance
An assistant director of finance is responsible for overseeing the financial activities of a company, ensuring accuracy and smooth workflow. They are also in charge of implementing company policies and regulations, creating new ones as needed while coordinating with the director. Moreover, an assistant director of finance may perform audits and risk assessments, allocate budgets and schedules, coordinate with different departments to gather necessary data, and create new strategies to optimize the workflow and the performance of the workforce.
While similarities exist, there are also some differences between finance management specialists and assistant director of finance. For instance, finance management specialist responsibilities require skills such as "financial resources," "budget formulation," "budget execution," and "financial management systems." Whereas a assistant director of finance is skilled in "customer service," "cash management," "financial results," and "financial aid programs." This is part of what separates the two careers.
Assistant directors of finance tend to make the most money working in the utilities industry, where they earn an average salary of $103,042. In contrast, finance management specialists make the biggest average salary, $78,667, in the government industry.assistant directors of finance tend to reach similar levels of education than finance management specialists. In fact, assistant directors of finance are 3.5% more likely to graduate with a Master's Degree and 0.2% more likely to have a Doctoral Degree.Finance management specialist vs. Corporate controller
A corporate controller is an individual who is responsible for supervising the overall daily accounting operations of an organization. Integral to the financial health of the organization, corporate controllers are required to help the organization with strategic financial decisions through forecasting reports and financial statements. They oversee maintaining accounting records by keeping and storing them in an operable system. Corporate controllers are also required to manage the accounting operations of the organization's subsidiaries.
Each career also uses different skills, according to real finance management specialist resumes. While finance management specialist responsibilities can utilize skills like "financial resources," "budget formulation," "budget execution," and "financial management systems," corporate controllers use skills like "cpa," "external auditors," "general ledger," and "cash management."
Corporate controllers may earn a higher salary than finance management specialists, but corporate controllers earn the most pay in the manufacturing industry with an average salary of $141,530. On the other hand, finance management specialists receive higher pay in the government industry, where they earn an average salary of $78,667.In general, corporate controllers achieve similar levels of education than finance management specialists. They're 2.3% more likely to obtain a Master's Degree while being 0.2% less likely to earn a Doctoral Degree.Finance management specialist vs. Division controller
A division controller is typically in charge of overseeing a company division's financial activities and human resources operations. Their role is to set objectives and guidelines, perform audits and assessments, evaluate the workforce performance, handle budgets and timelines, and develop strategies to optimize processes. They must monitor the progress of activities and projects, producing regular reports and presentations to keep the executives informed. Furthermore, as a division controller, it is essential to lead staff and implement the company's policies and regulations.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from finance management specialist resumes include skills like "financial resources," "budget formulation," "budget execution," and "financial management systems," whereas a division controller is more likely to list skills in "cpa," "oversight," "external auditors," and "sarbanes-oxley. "
Division controllers make a very good living in the construction industry with an average annual salary of $105,362. On the other hand, finance management specialists are paid the highest salary in the government industry, with average annual pay of $78,667.division controllers typically earn similar educational levels compared to finance management specialists. Specifically, they're 2.5% more likely to graduate with a Master's Degree, and 0.6% more likely to earn a Doctoral Degree.Finance management specialist vs. Regional controller
It is the responsibility of a regional controller to manage the financial reports and finances of the company in a specific geographic location. The regional controllers prepare and coordinate financial reports to ensure compliance with corporate policy and government regulations. They oversee the accounting activities of the corporation. It is their job to coordinate and prepare both external and internal financial statements. They also need to develop skills and knowledge in internal controls, financial management, accounting, payroll, and financial performance.
Types of finance management specialist
Updated January 8, 2025
