Career Videos

Video Transcript

Financial managers strive to put their business on solid financial footing; they help businesses steer clear of major risks and keep on the up side of profit. Financial managers keep a constant eye on the costs of running the company analyzing data to produce financial reports and direct plans for a company’s long-term success. They may oversee the organization’s investment activities, manage its international banking, insurance, or credit. Most financial managers work at a high level, advising the organization’s top executives on broad decisions for its future. Understanding legal requirements and current market trends helps them determine ways their organization can maximize profits, and where to cut spending. Like other managers, they also hire and supervise employees. Different types of financial managers are experts in their own industry, for example healthcare financial managers know the special tax laws and regulations that affect healthcare, and government financial managers understand government appropriations and budgeting processes. Most companies, organizations, and government agencies rely more and more on financial managers. Full-time work schedules are typical, and overtime is common. Financial managers usually have five years or more work experience in a related field, in addition to a bachelor’s degree in finance, business administration, or economics. Increasingly, employers choose candidates with a master’s degree or higher.