A finance officer is responsible for monitoring the financial department and the transactions of an organization. Finance officers analyze financial reports, update account statements, and oversee the budget allocation for business operations. They also resolve billing discrepancies and banking issues, assist in cash statement release, and manage payroll disputes. A finance officer conducts data and statistical analysis to evaluate the company's financial performance and stability and identifying opportunities to increase revenues and grow more profits.

Finance Officer Responsibilities

Here are examples of responsibilities from real finance officer resumes representing typical tasks they are likely to perform in their roles.

  • Manage KPI and identify gap opportunity analysis, driving improvement solutions and receiving recognition for consistent achievement.
  • Experience in ERP implementation when A/R module are migrated from old system to new PS system.
  • Maintain accounting practices for the ambulatory surgery center in QuickBooks.
  • Reorganize accounting department according to SOX guidelines along with recommendations for improving processes.
  • Develop decision matrix and flowcharts for a revise financial and manufacturing system within current ERP software.
  • Initiate direct deposit of employee payroll and free banking benefits for employees by establishing positive working relationships with local banking representatives.
  • Prepare and ensure that monthlyfinancial reports are accurate, timely, and comply with USAID requirements.
  • Help implement several major PeopleSoft implementations.
  • Test PeopleSoft functionality and participate in data cleansing as part of implementation.
  • Identify Sarbanes-Oxley remediation requirements by designing comprehensive controls and performing multiple tests, ensuring proper statutory compliance.
Finance Officer Traits
Communication skills shows that you are able to relay your thoughts, opinions and ideas clearly to those around you.
Organizational skills are essential to working as efficiently as possible through being able to focus on projects at hand while also keeping a clean workspace.
Interpersonal skills involves being able to communicate efficiently with multiple people regarding your thoughts, ideas and feedback.

Finance Officer Job Description

When it comes to understanding what a finance officer does, you may be wondering, "should I become a finance officer?" The data included in this section may help you decide. Compared to other jobs, finance officers have a growth rate described as "much faster than average" at 16% between the years 2018 - 2028, according to the Bureau of Labor Statistics. In fact, the number of finance officer opportunities that are predicted to open up by 2028 is 104,700.

Finance officers average about $37.65 an hour, which makes the finance officer annual salary $78,317. Additionally, finance officers are known to earn anywhere from $52,000 to $117,000 a year. This means that the top-earning finance officers make $65,000 more than the lowest earning ones.

It's hard work to become a finance officer, but even the most dedicated employees consider switching careers from time to time. Whether you're interested in a more challenging position or just looking for a fresh start, we've compiled extensive information on becoming a staff accountant, senior finance consultant, administrative & finance manager, and finance analyst/accountant.

Finance Officer Jobs You Might Like

Finance Officer Resume Examples

Finance Officer Skills and Personality Traits

We calculated that 39% of Finance Officers are proficient in Financial Statements, Real Estate, and Ensure Compliance. They’re also known for soft skills such as Communication skills, Organizational skills, and Interpersonal skills.

We break down the percentage of Finance Officers that have these skills listed on their resume here:

  • Financial Statements, 39%

    Provide financial analysis and reporting for decision making, including financial statements, Deposit, Delinquency and Production Reports.

  • Real Estate, 33%

    Develop and present comparative real estate analysis summaries to senior leadership.

  • Ensure Compliance, 3%

    Approved payments, purchased authorizations and other financial transactions to ensure compliance with staff rules, financial rules and implementing instruments/authority.

  • Internal Audit, 2%

    Managed the creation, enhancement and implementation of departmental procedures including random internal audits.

  • Financial Procedures, 2%

    Established & maintained Financial Procedures Manual.

  • General Ledger Accounts, 2%

    Performed bank and general ledger accounts analysis, reconciliation and prepared necessary adjusting journal entries;.

"financial statements," "real estate," and "ensure compliance" aren't the only skills we found finance officers list on their resumes. In fact, there's a whole list of finance officer responsibilities that we found, including:

  • Arguably the most important personality trait for a finance officer to have happens to be communication skills. An example from a resume said this about the skill, "excellent communication skills are essential because financial managers must explain and justify complex financial transactions." Additionally, other resumes have pointed out that finance officers can use communication skills to "managed the communication and scheduling of the year-end audit with the external auditors. "
  • While it may not be the most important skill, we found that many finance officer duties rely on organizational skills. This example from a finance officer explains why: "because financial managers deal with a range of information and documents, they must stay organized to do their jobs effectively." This resume example is just one of many ways finance officers are able to utilize organizational skills: "conduct thorough financial, management, and organizational due diligence on prospective grantees. "
  • Yet another important skill that a finance officer must demonstrate is "analytical skills." Financial managers increasingly are assisting executives in making decisions that affect their organization, a task that requires analytical ability. This is clearly demonstrated in this example from a finance officer who stated: "directed and coordinated the corporate-level budgeting, financial analysis and reporting systems ensuring compliance with appropriate gaap standards and regulatory requirements. "
  • Lastly, this career requires you to be skillful in "detail oriented." According to finance officer resumes, "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 resume example highlights how finance officer responsibilities rely on this skill: "prepare management reports and financial summaries using microsoft excel detailing village financial status. "
  • See the full list of finance officer skills.

    We've found that 65.5% of finance officers have earned a bachelor's degree. Furthermore, 16.1% earned their master's degrees before becoming a finance officer. While it's true that most finance officers have a college degree, it's generally possible to become one with only a high school degree. In fact, one out of every eight finance officers did not spend the extra money to attend college.

    Those finance officers who do attend college, typically earn either a accounting degree or a business degree. Less commonly earned degrees for finance officers include a finance degree or a economics degree.

    Once you're ready to become a finance officer, you should explore the companies that typically hire finance officers. According to finance officer resumes that we searched through, finance officers are hired the most by Wells Fargo, Massachusetts Institute of Technology, and State Street. Currently, Wells Fargo has 28 finance officer job openings, while there are 4 at Massachusetts Institute of Technology and 3 at State Street.

    But if you're interested in companies where you might earn a high salary, finance officers tend to earn the biggest salaries at Citigroup, Wells Fargo, and Comerica. Take Citigroup for example. The median finance officer salary is $101,205. At Wells Fargo, finance officers earn an average of $92,011, while the average at Comerica is $91,153. You should take into consideration how difficult it might be to secure a job with one of these companies.

    View more details on finance officer salaries across the United States.

    We also looked into companies who hire finance officers from the top 100 educational institutions in the U.S. The top three companies that hire the most from these institutions include Citi, JPMorgan Chase, and Robert Half International.

    In general, finance officers fulfill roles in the finance and non profits industries. While employment numbers are high in those industries, the finance officer annual salary is the highest in the finance industry with $81,919 as the average salary. Meanwhile, the health care and technology industries pay $73,851 and $72,586 respectively. This means that finance officers who are employed in the finance industry make 24.6% more than finance officers who work in the government Industry.

    The three companies that hire the most prestigious finance officers are:

      What Staff Accountants Do

      Staff accountants are employees who are part of the company's accounting department. They are usually certified public accountants (CPAs). Staff accountants should be familiar with accounting tasks. Previous accounting experiences play a huge advantage in their success. They perform a variety of accounting responsibilities such as information verification and analysis, financial report preparation and presentation, financial account reconciliation, billing and payment receiving activities, vendor database management, and invoice processing requirements. They should also know how to do bookkeeping. Staff accountants should have good communication skills, analytical skills, and decision-making skills. They should also be organized and trustworthy since they will be handling confidential information.

      In this section, we take a look at the annual salaries of other professions. Take staff accountant for example. On average, the staff accountants annual salary is $29,877 lower than what finance officers make on average every year.

      While their salaries may differ, one common ground between finance officers and staff accountants are a few of the skills required in each craft. In both careers, employees bring forth skills like financial statements, real estate, and internal audit.

      As far as similarities go, this is where it ends because a finance officer responsibility requires skills such as "ensure compliance," "financial procedures," "financial management," and "powerpoint." Whereas a staff accountant is skilled in "special projects," "payroll," "credit card," and "close process." So if you're looking for what truly separates the two careers, you've found it.

      Staff accountants tend to make the most money in the professional industry by averaging a salary of $58,944. In contrast, finance officers make the biggest average salary of $81,919 in the finance industry.

      The education levels that staff accountants earn is a bit different than that of finance officers. In particular, staff accountants are 2.6% less likely to graduate with a Master's Degree than a finance officer. Additionally, they're 0.9% less likely to earn a Doctoral Degree.

      What Are The Duties Of a Senior Finance Consultant?

      A senior finance consultant is responsible for helping clients manage their account portfolios, recommending investment options, and monitoring their finances. Senior finance consultants should have extensive knowledge of the financial industry, especially on working with clients and inform them of current financial services and strategize financial plans according to the clients' needs and best interests. They also respond to clients' inquiries and concerns regarding their account performance and financial discrepancies, resolving issues to achieve the clients' long-term financial goals and objectives.

      Now we're going to look at the senior finance consultant profession. On average, senior finance consultants earn a $17,324 higher salary than finance officers a year.

      A similarity between the two careers of finance officers and senior finance consultants are a few of the skills associated with both roles. We used resumes from both professions to find that both use skills like "financial statements," "real estate," and "internal audit. "

      In addition to the difference in salary, there are some other key differences that are worth noting. For example, finance officer responsibilities are more likely to require skills like "ensure compliance," "financial procedures," "powerpoint," and "cpa." Meanwhile, a senior finance consultant might be skilled in areas such as "procedures," "project management," "financial services," and "business process." These differences highlight just how different the day-to-day in each role looks.

      Senior finance consultants may earn a higher salary than finance officers, but senior finance consultants earn the most pay in the technology industry with an average salary of $99,727. On the other side of things, finance officers receive higher paychecks in the finance industry where they earn an average of $81,919.

      When it comes to the differences in education between the two professions, senior finance consultants tend to reach higher levels of education than finance officers. In fact, they're 17.7% more likely to graduate with a Master's Degree and 0.9% more likely to earn a Doctoral Degree.

      How an Administrative & Finance Manager Compares

      An administrative and finance manager handles a company's expenditures, requests, invoices, and other financial documentation. Their primary duty is to oversee a finance team's daily work. Additionally, they must coordinate financial staff, ensure that orders from management are carried out, complete the company's financial statements, and provide tax data for the legal department.

      Let's now take a look at the administrative & finance manager profession. On average, these workers make higher salaries than finance officers with a $3,612 difference per year.

      By looking over several finance officers and administrative & finance managers resumes, we found that both roles utilize similar skills, such as "financial statements," "internal audit," and "general ledger accounts." But beyond that the careers look very different.

      As mentioned, these two careers differ between other skills that are required for performing the work exceedingly well. For example, gathering from finance officers resumes, they are more likely to have skills like "real estate," "ensure compliance," "financial procedures," and "powerpoint." But a administrative & finance manager might have skills like "payroll," "oversight," "administrative procedures," and "income."

      Interestingly enough, administrative & finance managers earn the most pay in the insurance industry, where they command an average salary of $104,380. As mentioned previously, finance officers highest annual salary comes from the finance industry with an average salary of $81,919.

      When it comes to education, administrative & finance managers tend to earn higher education levels than finance officers. In fact, they're 7.3% more likely to earn a Master's Degree, and 0.1% more likely to graduate with a Doctoral Degree.

      Description Of a Finance Analyst/Accountant

      In a company setting, a finance analyst/accountant is in charge of handling and monitoring financial activities, ensuring efficiency and accuracy. Their responsibilities revolve around preparing financial reports, performing audits and risk assessments, and identifying any errors and inconsistencies, resolving them promptly and efficiently. They also conduct research and analysis to identify new business opportunities, evaluate the existing procedures to determine its strengths and weaknesses, and recommend solutions to optimize operations for financial growth. Furthermore, as a finance analyst/accountant, it is essential to uphold the company's policies and regulations, including its vision and mission.

      Now, we'll look at finance analyst/accountants, who generally average a lower pay when compared to finance officers annual salary. In fact, the difference is about $22,301 per year.

      While both finance officers and finance analyst/accountants complete day-to-day tasks using similar skills like financial statements, internal audit, and general ledger accounts, the two careers also vary in other skills.

      Each job requires different skills like "real estate," "ensure compliance," "financial procedures," and "financial management," which might show up on a finance officer resume. Whereas finance analyst/accountant might include skills like "payroll," "special projects," "pivot tables," and "process improvements."

      In general, finance analyst/accountants make a higher salary in the energy industry with an average of $70,871. The highest finance officer annual salary stems from the finance industry.

      In general, finance analyst/accountants reach higher levels of education when compared to finance officers resumes. Finance analyst/accountants are 9.1% more likely to earn their Master's Degree and 1.1% less likely to graduate with a Doctoral Degree.