Finance Manager

Job Profile

Finance Managers work as treasurer, controllers, credit managers, cash managers, treasury mangers, merchant bankers, equity analysts, and are responsible for preparing financial reports to meet tax and other regulatory demands.

They work in almost all sectors such as manufacturing, communications, finance, education, health care, travel, etc.

Finance managers

• Oversee the flow of cash and finances
• Develop information to assess the present and future financial status of the firm
• Plan and control the flow of funds within and outside of the organization
• Work with top management to arrange for long term finance
• Develop financial and economic policy, establish procedures, delegate authority, and oversee the implementation of these policies
• Set up budgetary systems, financial services and make appraisals of the adequacy of accounting methods
• Maintain liaison with banking personnel, financial institutions, treasury officials for sourcing funds, and control financial activities
• Plan, coordinate and manage the financial operation for diversification of business operations
• carry out investment analysis Source funds, issue management and viable project investments for success of a project

Merchant Bankers

• Manage new issues, credit syndication, government consent, accept fixed deposits from companies and manage portfolios
• Assess, source funds and promote projects
• Advise corporate on issues which are related to capital markets, investments, management, government or concerning portfolios of individuals or societies
• Act as financial intermediaries for the transfer of capital from the investor to the investment firm

Equity Analyst

• Carry on equity research and analysis used for guiding investment decisions
• Offer objective assessment of investment plans
• Conduct financial statement and cash flow analysis
• Estimate supply and demand and also make profit predictions

Portfolio Managers

• Understand the securities market
• Guide clients in portfolio selection
• Carry out economic, industrial and company analysis measuring earnings, and forecasting earnings
• Carry out bond analysis and strategies, performance evaluation and investment management

Treasury Managers

Treasury and foreign exchange function have assumed importance with the increase in flow of foreign exchange from foreign markets into India. The treasury profit centres depend upon the treasury managers skills in:

• Financial forecasting
• Financial management
• Assessment of cost of currency funds

Salary/Package

Finance Managers earns around 62,700 INR per month. Salaries range from Rs 29,500 (lowest) to Rs 1 lakh (highest). At senior level the sky is the limit. Average earnings of a senior level are in the range of Rs 18 lakhs to 20 lakhs per annum. The salaries may vary based on experience, skills, roles, location, etc.

Skills required

• Superior analytical and logical ability
• Skills for planning, interpreting and predicting
• Socially precise with business acumen to communicate with the highest level of the management
• Mathematical acumen
• Good communication and negotiating skills

Pros and Cons of a Finance Manager

Pros

• Suitable for people who likes to start and carry out projects
• Suitable for people who wants job security and a good working condition
• This career is perfect for people who love to work indoors
• One of the high paying careers in the world

Cons

• Not suitable for people who likes to work with designs
• It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.
• Long working hours

How do I be one

Path 1

Std XII (Stream: Sc PCM/Com (Maths, Eco)) >> Graduation (B Eco/Business Eco/Maths) >> Post graduation (Fin Mgmt/Masters Finance Control) >> Goal (Finance Manager)

Path 2

Std XII (Stream: Any) >> Graduation (B.Com/BFIA/B.Eco – CA foundation) >> Professional (CA/CFA/MFC) >> Goal (Finance Manger)

• BFIA – Bachelors in Financial and Investment Analysis
• CA – Chartered Accountant
• CFA – Chartered Financial Analyst
• MFC – Masters in Finance Control

For Entry level jobs in multinational banks, business houses, trading firms, export houses, financial institutions the qualifications required are MBA Finance/Masters in Finance Control/ Chartered accountancy.

From the entry point or junior level positions they make their way to middle level positions and then to senior positions over a period of approximately ten years.