The function of a financial manager varies greatly based on the organization for which they work. Finance managers can function as the director of financial services and be the primary producer of budgeting, accounting, and payroll in smaller firms without a financial consultant or finance director. In bigger organizations, the finance manager may be a chief financial specialist who answers directly to the executive management and is responsible for a particular sector of the company or team. As a result, finance managers may be responsible for a wide variety of tasks in all aspects of financial operations. They might be engaged in planning and forecasts, creating accounting information, accountability, financial management, or even contributing to internal auditing operations. They could also be requested to help with more strategic aspects like expense and hazard management, financing infrastructure evaluations and development, or other commercial development. Finance managers, no matter where they work, generally support senior administration in determining investment judgments that influence the company by providing analyses and recommendations to aid in making educated judgments. A competent finance manager will keep management informed about financial innovations and current changes in the marketplace because they'll be anticipated to give information that would aid in the formulation of immediate and lengthy economic policies and tactics.

Eligibility Criteria

• Must possess at least 50% aggregate from a recognized institution in 12th, from any board PUC/CBSE/ICSE/ISC, etc. However, the cut-off margin varies with the selection process of different colleges.
• Should procure a valid score in entrance exams such as CAT, MAT, CMAT, etc. Different colleges offer their entrance exams if you don’t have a satisfactory score in CAT or other competitive exams – colleges like NMIMS, Symbiosis International University, XUB, Andhra University, LPU, etc. Every state offers its entrance exam as well.
• One must earn a degree in B.A/B.Com/BBA or a Diploma to become a Finance Manager. This is a basic qualification you must require to enroll in this line of work.
• An MBA in Finance can also prove to be helpful while looking for a higher degree and better learning.

Tasks to perform

• To assure safeguarding, implement processes for the custody or investment management, documents, lending recourse, or investments.
• Examine accumulation records to see how far collections have progressed and how much money is still owed.
• To give knowledge or generate funds, negotiate with shareholders or potential stakeholders.
• Generate economic or administrative statements as needed by laws, rules, or corporate boards of directors.
• Negotiate coverage directly, choose insurance agents or providers, and purchase financial protection.

Knowledge required

• Arithmetic Prowess – Being able to evaluate and interpret various mathematical equations and use them to address complex problems in arithmetic, geometry, calculus, and other areas.
• English Grammar — Familiarity in English Grammar, the form, and substance of the English language, along with the context and pronunciation of words, principles of grammar, and language.
• Client and Legitimate Service — Implementation of standards and procedures for the provision of customer and services rendered. This involves identifying customer expectations, meeting product quality requirements and assessing customer loyalty.
• Incorporation and Governance — Utilizing concepts of business administration associated with tactical planning, distribution of capital, optimization of human resources, leadership strategies, methods of production, and organization of resources and manpower.
• Legislation and Administration — Understanding of treaties, legal manuals, judicial proceedings statutes, government legislation, judicial appointments, agency policies, and the constitutional legislative structure.

Skills required

• Time Management – Interacting and switching between different tasks and activities without consuming excess time to provide results.
• Influence — Inspiring and persuading people to change their behaviour and support a certain product, brand, or organisation to increase sales.
• Rational interpretation — Use of rationality and inference to distinguish the positives and disadvantages of creative improvements, assumptions, or responses to situations.
• Strategic Thinking — Evaluating the possible expenses and advantages of various decisions in order to recognise the best one.
• Critical Analysis — Learning and identifying the strengths and weaknesses along with providing solutions and countermeasures to reduce the impact of potential problems.

Job roles offered

Once you procure the required qualifications for becoming a Finance Manager, a myriad of options is open to you. There are multiple projects you can undertake throughout this line of work, and there are many other fields you can branch out to as well.

• Bank Manager: A bank manager's main responsibility is to organize their financial employees, offer excellent customer services, and improve their treasury institution's profitability. They play a crucial role since they are accountable for the productivity and sustainability of their financial institution. Bank Managers must have a comprehensive understanding of each element of their institution's management to guarantee that it is functioning at an excellent level. Bank managers usually submit to a regional director and oversee the operations of their employees. Bank managers carry out a variety of tasks to improve the operation of their banking institutions. One of a bank manager's key integral competencies would be to assist and educate their banking employees in their daily procedures and activities.
• Credit Manager: Credit managers are involved in the process of issuing credit, determining the terms on which it is provided, reclaiming credit when it is due, and ensuring compliance with the corporation's payment terms, among other credit-related activities. Credit managers should have interactive learning expertise with accountancy technology, a thorough grasp of borrowing processes, strong quantitative abilities, including the ability to generate and interpret economic worksheets, negotiating capabilities, and a bachelor's or master's degree in economics or accountancy. Ultimately, a credit manager must assist companies to decrease bad debts and enhance earnings from the loan.
• Finance Officer: Finance officers are in charge of their organization's financial capabilities to meet income and budgetary targets annually. They are well-versed in a variety of legal and accounting rules, as it is their job to ensure that the company complies. Finance officers work in a range of situations: they support the chief financial officer in formulating strategic choices in major businesses, and they ensure that taxpayer funds are used effectively in governmental bodies, institutions, and healthcare. Finance officers operate in an office setting and keep meetings regularly, however specific financial papers may have deadlines that overlap with extra hours.
• Budget and Fiscal Manager:Budget and fiscal managers supervise a corporation's whole economic administration through collaborating with its different divisions and management employees. They look at budget measures and legislative requirements from all divisions, anticipate prospective expectations, make comparisons about statistics, and figure out how much money is available. Fiscal managers usually supervise personnel who produce budgets, whereas budget analysts concentrate on the exact statistics. To engage with their organizations and accomplish financial goals, both disciplines demand a comprehensive grasp of the present financial industry.
• Finance Director: Finance directors are members of a senior management team who are in charge of the economic condition of their firm. They mix operational and analytical duties, oversee finance and accounting management, and develop a financial plan for the company's successful long-term growth. They must have the adaptability and talent to adapt to a constantly changing set of conditions to accomplish the position. Financial control is one of the most important responsibilities of finance directors. They create estimates and collaborate closely with departmental leaders to guarantee that revenue and expenses stay on track.

Career opportunities

Finance Manager can opt for various fields of work in the companies listed below:

• Oracle
• Mastercard
• Atlas Copco
• Atradius
• Bunge
• Volvo Group
• Shell
• YouGov
• Myntra
• Stryker

Colleges offering courses

• St. Xaviers College, Ranchi
• KJ Somaiya College of Science and Commerce, Mumbai
• PSGR Krishnammal College for Women, Coimbatore
• Sri Krishna Arts and Science College, Coimbatore
• JBIMS Mumbai - Jamnalal Bajaj Institute of Management Studies
• School of Distance Education, Andhra University, Visakhapatnam
• BJB Autonomous College, Bhubaneswar
• Karmaveer Bhaurao Patil College, Vashi
• Samrat Prithviraj Chauhan Government College, Ajmer
• Serampore College, Serampore