Financial managers oversee an organisation’s financial health. They analyse budgets and forecasts, monitor cash flow, produce management reports, advise on investments, ensure compliance, and work with other departments to support strategic decisions.
What is a financial manager?
The role of financial manager varies significantly depending on the size and complexity of an organisation.
For example, in larger organisations you could be undertaking focused activities such as strategic analysis based on a range of factors including sustainability that helps senior management accountants and other business managers and leaders make the best decisions. That could include interpreting financial information and predicting future trends.
In smaller organisations you can expect to have a much broader range of responsibilities, perhaps even managing the entire finance function. Some financial managers even go on to oversee cross-function teams of IT and administration staff as well.
How do I achieve it?
Financial manager is a crucial role in any organisation, irrespective of size. Key skills that will help you are strategic analysis, relationship management, decision-making and communication.
Those interested in becoming a financial manager will benefit from taking the ACCA Applied Knowledge and Applied Skills exams, after which you can progress to Strategic Professional.
Accountants already working in related or junior roles may look to engage in CPD or other upskilling courses to develop the accounting skills required to secure the role of financial manager.
Frequently asked questions
Degrees in accounting or finance are common, and professional certifications, such as ACCA, are often essential. An MBA or other postgraduate finance courses can also help accelerate career progression.
Students should focus on financial analysis, strategic thinking, communication, leadership, and proficiency with financial software. Strong business awareness is also important.
Roles like junior accountant, financial analyst, credit controller, or trainee management accountant provide the practical experience needed to move into financial management.
Typically, it takes around five to ten years of relevant experience, depending on qualifications and career progression. Professional certifications can shorten this timeline.
Financial managers are needed across nearly every sector, with high demand in banking, manufacturing, retail, technology, and healthcare.
Automation, AI, and analytics are shifting the focus from routine bookkeeping to data-driven decision-making, strategic planning, and managing financial systems.
In the UK, salaries usually range from £45,000 to £70,000, with senior roles or positions in financial services often exceeding £80,000, including bonuses.
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