What does a senior finance manager do?
A senior finance manager is an individual who supervises financial department staff members as well as monitors the daily financial operations within a company. Senior finance managers must keep track of the financial status and performance of the company so that they can identify areas for potential improvement. They review financial data and prepare reports to be presented to the management to help them in their business decision making. Senior finance managers must also maintain policies within the company and should have a deep understanding of financial regulations and legislations.
Senior finance manager responsibilities
Here are examples of responsibilities from real senior finance manager resumes:
- Manage regional treasury functions including coordination with international HQ for daily cash balance requirements.
- Manage staff of financial analysts who perform divisional and branch portfolio and profit/loss analysis.
- Manage Oracle/Hyperion application upgrade used to support the close, consolidate and report process within Oracle/PeopleSoft ERP environment.
- Manage financial reporting in support of CEO/CFO/President with oversight for data integrity and consistency of reporting across enterprise.
- Manage eight team members' activities including daily transaction processing, monthly reconciliations and analysis, and financial statement preparation
- Manage senior financial analysts responsible for evaluating the financial risks of a portfolio of large property and casualty insurance programs.
- Interface with CPA on behalf of the corporation, with strong understanding of general ledger through trial balances for all companies.
- Create several Hyperion management reports for SBU VP, to assist in monthly SBU financial results analysis.
- Perform all forecasting and monthly/quarterly close reporting through Hyperion.
- Advise and provide approval for macro enhancement and development.
- Oversee quarterly management testing of Sarbanes-Oxley compliance for entire facility.
- Review accounting processes and introduce accounting practices consistent with Sarbanes-Oxley standards.
- Develop effective relationships with control owners and educate them about SOX requirements.
- Conceive and execute automated cloud-base solution (QuickBase) for communicating SOX controls.
- Perform budget oversight and develop guidance and policies regarding the payment of non-military contracts.
Senior finance manager skills and personality traits
We calculated that 7% of Senior Finance Managers are proficient in Hyperion, Financial Performance, and Financial Analysis. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.
We break down the percentage of Senior Finance Managers that have these skills listed on their resume here:
- Hyperion, 7%
Redesigned operational reporting package and modified six monthly reports using a newly created, more robust entity in Hyperion.
- Financial Performance, 5%
Analyze financial performance against key business metrics and document pertinent financial highlights that will enable management to determine progress against budget.
- Financial Analysis, 5%
Worked productively with vice presidents and directors on the subject of financial analysis and closely conferred with customer contact centers worldwide.
- Business Development, 4%
Forged successful international relations in the Americas to expand business development and enhance revenue potential in a competitive market.
- SR, 4%
Shared Services - Manage the Shared Services teams - Accounts Receivable and Accounts Payable as well as a Sr. Treasury Analyst.
- Financial Models, 4%
Trained financial analysts in proper validation of assumptions, development of user-friendly financial models and automation of repetitive tasks through macros.
"hyperion," "financial performance," and "financial analysis" are among the most common skills that senior finance managers use at work. You can find even more senior finance manager responsibilities below, including:
Analytical skills. The most essential soft skill for a senior finance manager to carry out their responsibilities is analytical skills. This skill is important for the role because "to assist executives in making decisions, financial managers need to evaluate data and information that affects their organization." Additionally, a senior finance manager resume shows how their duties depend on analytical skills: "provide total financial leadership and analysis in support of forecasting, planning, reporting and cost out initiatives. "
Communication skills. Another soft skill that's essential for fulfilling senior finance manager duties is communication skills. The role rewards competence in this skill because "financial managers must be able to explain and justify complex financial transactions." According to a senior finance manager resume, here's how senior finance managers can utilize communication skills in their job responsibilities: "managed communications with external auditors on financial statements and accounting issues to ensure auditor agreement with company decisions on accounting disclosures. "
Detail oriented. senior finance managers are also known for detail oriented, which are critical to their duties. You can see how this skill relates to senior finance manager responsibilities, because "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." A senior finance manager resume example shows how detail oriented is used in the workplace: "compile and present detailed monthly and quarterly financial reports. "
Math skills. senior finance manager 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 senior finance managers do with math skills on a typical day: "perform quantitative and qualitative analysis of financial and non-financial data by providing expertise on complex financial and statistical modeling. "
Organizational skills. Another common skill required for senior finance manager responsibilities is "organizational skills." This skill comes up in the duties of senior finance managers 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 senior finance manager resume shows how this skill is central to what a senior finance manager does: "managed organizational and human resource planning and advised senior managers on hr issues. "
The three companies that hire the most senior finance managers are:
- Pwc299 senior finance managers jobs
- Ernst & Young256 senior finance managers jobs
- Microsoft205 senior finance managers jobs
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Compare different senior finance managers
Senior finance manager vs. Finance vice president
The vice president of finance is one of the highest-ranking executives in a company. He/She or she works under the chief financial officer, and both have similar duties that are often interchangeable. This executive's primary function is to oversee the company's financial records and project future financial plans and investments. The finance vice president ensures that the company's finances are managed suitably and effectively. This role's responsibilities include leading the team towards achieving the company's financial mission, monitoring the financial performance, preparing and presenting financial reports, and conducting audits on financial expenditures, assets, and liabilities.
There are some key differences in the responsibilities of each position. For example, senior finance manager responsibilities require skills like "sr," "excellent interpersonal," "shared services," and "business performance." Meanwhile a typical finance vice president has skills in areas such as "cpa," "oversight," "risk management," and "human resources." This difference in skills reveals the differences in what each career does.
Finance vice presidents really shine in the manufacturing industry with an average salary of $149,254. Comparatively, senior finance managers tend to make the most money in the professional industry with an average salary of $134,362.The education levels that finance vice presidents earn slightly differ from senior finance managers. In particular, finance vice presidents are 8.2% less likely to graduate with a Master's Degree than a senior finance manager. Additionally, they're 0.6% more likely to earn a Doctoral Degree.Senior finance manager vs. Finance analyst-operations finance
Financial analysts are professionals who are in charge of the financial operations of businesses. The analysts analyze results, monitor variances, determine trends, and suggest management-related actions to improve corporate finances. They reconcile transactions through data comparison and correction. It is their duty to maintain the database through data input, verification, and backup. They produce presentations restating fiscal information used by supervisors, administrators, and others. This position requires skills in financial reporting, management, communications skills, and accounting qualification.
Each career also uses different skills, according to real senior finance manager resumes. While senior finance manager responsibilities can utilize skills like "sr," "shared services," "business performance," and "financial systems," finances analyst-operations finances use skills like "data analysis," "customer service," "project management," and "sql."
Finances analyst-operations finances earn a lower average salary than senior finance managers. But finances analyst-operations finances earn the highest pay in the pharmaceutical industry, with an average salary of $93,042. Additionally, senior finance managers earn the highest salaries in the professional with average pay of $134,362 annually.In general, finances analyst-operations finances achieve lower levels of education than senior finance managers. They're 13.0% less likely to obtain a Master's Degree while being 0.6% more likely to earn a Doctoral Degree.What technology do you think will become more important and prevalent for senior finance managers in the next 3-5 years?
Nate Peach Ph.D.
Associate Professor of Economics, George Fox University
Senior finance manager vs. Manager finance planning and analysis
A manager finance planning and analysis oversees the daily operations of a company's financial planning department. They typically have administrative duties such as setting goals and guidelines, establishing timelines and budgets, delegating tasks among teams and staff, and reviewing financial reports regularly. They also perform research and assessments, gather and analyze financial data from different departments, coordinate staff, and solve issues and concerns when any arise. Additionally, as a manager, they must lead and empower staff to reach goals while implementing company 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 senior finance manager resumes include skills like "sr," "strong analytical," "business decisions," and "business processes," whereas a manager finance planning and analysis is more likely to list skills in "customer service," "human resources," "excellent organizational," and "financial forecasts. "
Managers finance planning and analysis earn the highest salary when working in the manufacturing industry, where they receive an average salary of $109,735. Comparatively, senior finance managers have the highest earning potential in the professional industry, with an average salary of $134,362.When it comes to education, managers finance planning and analysis tend to earn similar degree levels compared to senior finance managers. In fact, they're 4.4% less likely to earn a Master's Degree, and 0.2% less likely to graduate with a Doctoral Degree.Senior finance manager vs. Manager/finance accounting
A manager of finance accounting's role is to oversee the financial activities in a company or organization. Their responsibilities revolve around coordinating with other departments to gather financial data, analyze the revenues and expenditures, and develop written reports and presentations. A manager of finance accounting must also maintain accurate financial records, identify any errors or inconsistencies, and perform support tasks for staff when necessary. Furthermore, as a manager, it is essential to lead and encourage the team, all while implementing the company's policies and regulations.
Types of senior finance manager
Updated January 8, 2025
