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With the important role of data analysis and providing profit-maximizing ideas to senior managers, it's easy to see why hiring managers would take a finance manager interview so seriously. Finance managers serve a vital and irreplaceable role in companies, which means you can expect fierce competition from other candidates.
Luckily, we’ve got some tips to help you interview better, some common finance manager job interview questions, and advice that can help you land your new career.
Key Takeaways:As a candidate, your interviewer will assess your leadership and communication abilities, as well as want to know if you have strong financial analysis skills.
As an interviewer, look for candidates who have can communicate financial ideas and information effectively, as well as have leadership skills necessary to succeed in a high-level position.
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Researching common interview questions can be helpful, especially if you have not given many interviews.
However, they can only go so far, and eventually, you will have to answer job-specific questions.
To help you prepare as much as you can, we have compiled a list of questions you may encounter when interviewing for a finance manager position. We have given a sample answer to give you inspiration for writing your answer.
Tell me about yourself.
In the context of being a finance manager, you should focus on your professional background in leadership and financial analysis positions, as well as any major skills you have and accomplishments you've made.
Example Answer:
I have been in financial leadership roles, including my position as a Manager at Banking Inc. for over 10 years. This invaluable experience has given me a strong background in management and a proven track record of implementing successful strategies to improve operational efficiency.
I am an excellent communicator and have a keen eye for detail, which are essential qualities for a successful finance manager. Further, my communication skills have allowed me to develop a strong culture among my team, which makes meeting deadlines and avoiding mistakes much easier.
Overall, I am a strong leader with a passion for new financial ideas and solutions. I am confident in my ability to develop effective strategies, and I am always looking for ways to improve myself and the finances of the company I work for.
Why did you choose a career in financial management?
This question provides an opportunity for you show your passion for your career. Explain why you chose this field and why you're good at what you do.
Example Answer:
I chose a career in financial management because I wanted to join a respected and trusted profession that helps firms make tough decisions about their company’s direction. I felt such a position would allow me to make a valuable contribution to an organization.
I joined this field because I can use these skills in any industry, and I was attracted to its versatility. Businesses will always require financial managers to keep their bottom line in mind and keep their operations running smoothly.
What makes a good financial manager, in your opinion?
Interviewers ask this question to gauge your understanding of the financial manager position. Use your expertise to explain what constitutes a good financial manager, from the ability to work with others to having effective financial analysis.
Example Answer:
A good financial manager is someone who is not only adept at working with and synthesizing data but also someone who has excellent management skills.
They will often be working as the lead of a finance team or department, so they should have data analysis skills, attention to detail, and the ability to manage and motivate others.
To be a good finance manager, you will need to work well with data sources and people.
The person who has the most comprehensive perspective on their performance as a finance manager is the candidate themselves. That’s why an interviewer usually asks them, “Why should we hire you?”.
When answering, you should outline the aspects of their personality and experience that make them an ideal fit for the role. The hiring manager wants the applicant to sell themselves succinctly when posing this blunt question.
Example Answer:
You should hire me because I possess a wealth of experience in the field, as well as a proven track record of success.
I have a deep understanding of financial analysis, risk management, and budgeting, which enables me to make informed decisions that drive profitability and optimize financial performance. Additionally, my experience has given me adept leadership and communication skills, which allows me to collaborate effectively with cross-functional teams and stakeholders.
Why do you think financial management is important for a company?
This question is also a way to test your understanding of the position, but also serves the duel function of ensuring you understand why companies need a skilled finance manager. Explain why companies need a finance manager and how you would be able to fill that role.
Example Answer:
Financial management is important for a company because it allows them to make money-smart decisions at every turn, which in the long run will make them more competitive in their industry and help them create manageable growth.
No matter the industry, financial success determines a firm’s future, and finance managers are tasked with creating and managing that financial success, making them integral parts of any business organization.
Why do you want to work here?
A good answer to this question will be specific to the company you're applying for. This is why it's important to research the company before the interview, so you can use that knowledge to explain why you want to work there.
Example Answer:
I want to work here because I believe my leadership style is a perfect fit for your team, and my guidance will help you meet company's financial goals. Your mission statement of "Innovative products for exceptional customers", speaks to me, in that I believe innovative financial strategies are the first step toward growing profit and productivity.
What do you believe is the most important leadership skill, and how would you bring it to this role?
While there are a few different skills you could name as important leadership skills, such as time management and decision-making, we recommend naming communication as the most important skill.
Effective leaders must be able to communicate ideas and tasks effectively to their team, and this is especially true in large companies were many people need to work together.
Example Answer:
I believe the most important leadership role is communication. Completing projects on time, ensuring your team is in the loop, and avoiding errors require proper communication skills.
I will encourage my team members to communicate with one another and with myself by creating an atmosphere that encourages open and honest communication, making it easier for errors to be identified and fixed faster and preventing errors from occurring.
How do you handle tight deadlines?
This question is all about showcasing your time management and leadership skills. Explain what strategies you would use to meet deadlines, and how you would communicate with team members to do so.
Example Answer:
I handle tight deadlines by keeping a current calendar and planner and breaking up tasks into smaller pieces to keep them more manageable.
I also try to remain as flexible as possible, adjust my priorities when needed, and change plans when more pressing tasks come along.
Where do you see yourself in five years?
Companies hiring a finance manager want to know that you will be loyal and dedicated to keeping up with the industry. Talk about how you plan to advance your career, and how you intend to improve the company and team you'll be managing.
Example Answer:
In five years, I see myself as the finance manager who pushes positive growth and innovative financial plans. I will have gained even more experience and expertise that will allow me to make informed and beneficial decisions.
I am also dedicated to staying up to date on the latest trends in my field and strive to stay ahead of the curve. At the end of five years, I am confident that my dedication and hard work will be reflected in the company’s bottom line.
What software have you used previously?
It can be advantageous to research the company you're applying to before hand, so you can talk about your experience with the specific software they use. However, even if you don't have experience with that specific software, ensure that you talk about your ability to quickly adapt and pick up new skills.
Example Answer:
I have experience with Quickbooks and Xero, but I am a fast learner, and I could easily pick up new software.
How would you go about explaining a complicated financial concept to someone who doesn’t work in finance?
Interviewers ask this question to test your communication skills, especially in the context of speaking to other important company members who don't understand finance terminology or data. If possible, use an example of how you communicated effectively in the past.
Example Answer:
Whenever I try explaining a complicated financial concept to another, I always think back to how I was taught this concept, and I use this as my model for teaching others.
I also make every effort to avoid a condescending tone, as this can be offensive to others and does not help productivity.
I believe that anyone can understand finances if given the proper tools to do so.
What are your strengths and weaknesses? This question is all about balance and positivity. Start off by talking about your biggest strength. Then, even after you honestly transition to your biggest weakness, ensure that you discuss how you manage and improve that weakness.
Example Answer:
I would say my ability to analyze complex financial data and translate it into actionable insights is one of my my greatest strengths. I can effectively identify trends, risks, and opportunities that impact the financial health of an organization. This ultimately allows me to provide strategic recommendations and make informed decisions that drive growth and profitability.
My weakness, on the other hand, can be my perfectionism. At times I have a tendency to be overly meticulous. This can result in spending too much time on minor details, which may delay certain tasks or projects.
However, I am aware of this tendency and have developed strategies to manage it effectively. For instance, I prioritize tasks based on their importance and deadline, and I constantly remind myself to maintain a balance between attention to detail and overall productivity.
When making a financial decision that will have a large impact, what factors do you consider?
This question looks more deeply into your decision-making skills. As a finance manager, you'll likely be in charge of a team and need to understand how to use data and previous experience to make tough decisions.
Example Answer:
First, I do my research, and I make sure I have all of the information available. I evaluate the options I have, analyzing the benefits and costs of each. Then I consider the impact this decision will have on the firm’s finances, the clients we are serving, and our employees.
I believe it is important to consider the impact this decision will have on people, rather than just considering the financial impact.
While there are tough decisions to be made, I find that measuring the effect it will have on our clients, and our employees helps me make decisions that are better for everyone in the long run.
How would you describe your management style?
Be prepared for this question. You’ll want to plan how to answer the management style question. The interviewer might have an answer in mind because they prefer a certain method that goes with their company culture.
Example Answer:
I believe I am a manager who wants to be a team member rather than a boss or superior. My management style is centered around creating a collaborative, friendly atmosphere focused on doing the best work.
I believe this management style creates a more productive environment and allows for more work to be done. I also find that this management style creates happier employees, and happier employees tend to create higher quality work.
What experience do you have in this and other industries?
The most important aspect of answering this question is using your previous experience to showcase your relevant skills. In particular, think of examples in this and other industries where you showed exceptional leadership, communication, and problem-solving skills.
Example Answer:
I have experience in the insurance industry, where profit margins are particularly narrow, which has made me more aware of money-saving techniques. I also have experience working in the automotive industry and retail.
How would you handle a disagreement with a superior?
This is one of those great open-ended questions. In the interviewer’s mind, they’re probably thinking about how you politely and professionally navigated a work dispute with your manager before. And that is a totally acceptable answer. But maybe you don’t have that work experience.
Do you have any personal stories you can use instead? This is why this question is wonderful. You can showcase how you saved the family dynamic, created acceptance among friends, and won a battle with a retailer.
Whatever disputes you’ve handled well, they’re game for this answer.
Example Answer:
I would first start an open discussion with the superior, explaining our points of view.
If I find that neither of us can be persuaded to the other’s position, I would try to find an area of shared ground and propose a compromise that would make us both happy with the outcome.
No matter the disagreement, I would always remain respectful of my supervisor and recognize their decision-making capabilities. They are the ones who have the final say.
How would you motivate your team members?
The person asking the question really wants to understand how you lead others. This can be a super difficult question to answer because some people are born with natural leadership qualities and they don’t know how to explain it.
They don’t really even realize that they’re doing it. Prepare for this question by taking stock of your soft skills, interpersonal relationships, and your ability to communicate. This should help you answer the question.
Example Answer:
I would motivate my team members by reminding them that we are all in this together, have a common goal, and others depend on them.
Working in teams increases accountability, and people are more likely to produce quality work when they are a part of a team.
In this case, motivation would come from a desire to avoid letting others down or keeping others waiting.
Tell me how you have improved financial situations in past positions.
Be prepared to answer several questions about your experience and how it has positively shaped other companies and teams. Before your interview, think of a few examples of how you've made a positive financial impact in the past.
Example Answer:
In my most recent position, I improved the process by which financial reports are generated, allowing them to be completed quicker and more accurately.
I was also able to reduce costs by running a large-scale audit of the company’s expenses, identifying where we could make changes, and making budgeting recommendations to my superiors.
What is your opinion on automation and A.I. in finance?
Advancements in technology are leading A.I. to become more and more useful in the financial sector. Knowing how A.I. will benefit companies financially, it's important for you to express your interest in working with new technology, rather than being apprehensive toward it.
Example Answer:
I believe technology such as A.I. and automation can be a great tool, as they can complete processes faster, generate reports with ease, and identify errors when they are made. Having access to the right technology can also help prevent calculation errors that one can make in traditional processes.
I believe that automation and A.I. are the next steps for the industry, and we must use them to our benefit rather than resisting change. While I do not believe that automation will replace the need for human employees, I do believe it will change how accounting and finance work is done.
Tell me about the kinds of reports you have experience making.
Employers want to know that you're capable of relaying important information in palatable reports that can be read, interpreted, and cataloged by others. With that in mind, explain your experience doing that and your strategies for doing it effectively.
Example Answer:
I have experience creating all sorts of financial reports and presenting them to others, including annual budgets, balance sheets, spending reports, and cash flow statements. I also have experience presenting these reports to others, including higher-level management and C-level executives.
Can you name some improvements you would make as a finance manager?
Can you tell me about a financial analysis project you've completed before?
What is your approach to budgeting and forecasting?
How have you ensured compliance with financial regulations and industry standards in the past?
How do you ensure that your sales team is aligned with company goals and objectives?
Have you ever had one of your employees approach you with an innovative idea? How did you respond?
Has there ever been a time where you worked closely with another team or department to achieve a financial objective or resolve a financial issue?
Do you use any tools to aid you in leading a team?
How do you identify and mitigate financial risks?
What is one of your greatest successes on the job?
All of the possible Interview questions for the Finance Manager job might seem overwhelming at first, but there are some effective steps you can take to prepare:
As a Candidate:Research. Look into the company you're applying for and try to discover how they typically operate financially, their marketing strategies, who they employ, etc. Going into your interview with this knowledge will make it easier to talk about your relevant skills.
Balance Knowledge and Communication. Understanding financial analysis is an integral part of a finance manager's job, however, it's still important that you're able to communicate data and ideas to those outside of the field. You're interview provides you with the perfect opportunity to show the hiring manager that you can communicate important concepts effectively.
Examples of Leadership. Compose specific examples of times when you showed exceptional leadership, especially in decisive situations. These examples are the best way for you to show an interviewer that you're capable of undertaking a management position.
Review the Job Description. Use the job description to construct your ideal candidate, but do not overlook candidates who are proven to be good communicators and excellent leaders.
Explain Responsibilities. Ensure your candidates are aware of the responsibilities they would have as a finance manager. This includes things like how the company typically operates, how many employees they'll manage, and more.
Provide a Timeline. Provide your prospective finance manager with an accurate hiring process timeline.
Interviews are intimidating, and they can be especially daunting for many of us who do not have practice talking about ourselves. While they can be scary, you can help alleviate some of that fear by properly preparing and answering these sample questions.
Even if you do not have your answers memorized, thinking them through or perhaps writing them down can keep them swirling around in the back of your mind. Then, when you are asked one of these tough questions, you will be able to draw upon these answers, aiding you in coming across as more prepared and more confident.