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Financial managers

OaSIS code 10010.00

Financial managers plan, organize, direct, control and evaluate the operation of financial and accounting departments. They develop and implement the financial policies and systems of establishments. Financial managers establish performance standards and prepare various financial reports for senior management.

Overview

Also known as

  • Controller - financial services
  • Director - financial services
  • Director of accounting
  • Finance director
  • Financial administrator
  • Financial control manager
  • Financial planning and analysis manager
  • Internal audit services manager
  • Treasurer

Main duties

This group performs some or all of the following duties:

  • Plan, organize, direct, control and evaluate the operation of an accounting, audit or other financial department
  • Develop and implement the financial policies, systems and procedures of an establishment
  • Prepare or coordinate the preparation of financial statements, summaries, and other cost-benefit analyses and financial management reports
  • Coordinate the financial planning and budget process, and analyze and correct estimates
  • Supervise the development and implementation of financial simulation models
  • Evaluate financial reporting systems, accounting procedures and investment activities and make recommendations for changes to procedures, operating systems, budgets and other financial control functions to senior managers and other department or regional managers
  • Recruit, organize, train and manage staff
  • Act as liaison between the organization and its shareholders, the investing public and external financial analysts
  • Establish profitability standards for investment activities and handle mergers and/or acquisitions
  • Notify and report to senior management concerning any trends that are critical to the organization's financial performance.

Additional information

  • Progression to senior management positions, such as vice-president of finance, is possible with experience.

Similar occupations classified elsewhere

Exclusions:

  • Accounting firm manager; Audit firm manager (in 10029.00 Other business services managers)

Work characteristics

Work characteristics gathers the various components describing the work environment of each occupation, such as employers, work activities, and the work context. Each category displays up to 10 descriptors in descending order based, firstly, on their attributed ratings by the level of complexity (for Work Activities) or other measurement dimensions (for Work Context), and secondly, in alphabetical order. The whole list of descriptors and their ratings can be expanded at the bottom of each page.

Work Activities

Proficiency or complexity level
Analyzing Data or Information
5 - Highest Level
Coaching and Developing Others
5 - Highest Level
Identifying Objects, Actions, and Events
5 - Highest Level
Staffing
5 - Highest Level
Supervising Subordinates
5 - Highest Level

Work Context

Structural Job Characteristics

Structured versus Unstructured Work
Degree of freedom to determine tasks and priorities
4 - High amount of freedom
Work Week Duration
Worked hours in a typical week
3 - More than 40 hours

Physical Work Environment

Physical Proximity
Physical distance from others
3 - Somewhat close (e.g. share office)

Physical Demands

Sitting
Duration
5 - All the time, or almost all the time
Standing
Duration
1 - Very little time
Bending or Twisting the Body
Duration
1 - Very little time

Interpersonal Relations

Contact with Others
Frequency
4 - Every day, a few times per day
Duration
4 - More than half the time
Work with Work Group or Team
Importance
4 - Highly important
Frequency
4 - Every day, a few times per day

Workplaces/employers

  • Financial and accounting departments in companies throughout the private sector
  • Financial and accounting units throughout the public sector

Skills and abilities

This section displays the various competencies required for an occupation. Each category displays up to 10 descriptors in descending order based, firstly, on their attributed ratings by the level of proficiency (for Skills and Abilities) or importance (for Personal Attributes) and secondly, in alphabetical order. The whole list of descriptors and their ratings can be expanded at the bottom of each page.

Abilities

Proficiency or complexity level
Mathematical Reasoning
5 - Highest Level
Numerical Ability
5 - Highest Level
Categorization Flexibility
4 - High Level
Deductive Reasoning
4 - High Level
Fluency of Ideas
4 - High Level

Skills

Proficiency or complexity level
Evaluation
5 - Highest Level
Management of Financial Resources
5 - Highest Level
Management of Personnel Resources
5 - Highest Level
Monitoring
5 - Highest Level
Numeracy
5 - Highest Level

Personal Attributes

Importance
Analytical Thinking
5 - Extremely important
Attention to Detail
5 - Extremely important
Leadership
5 - Extremely important
Active Learning
4 - Highly important
Adaptability
4 - Highly important