A financial manager is responsible for providing financial guidance and support to clients and colleagues so they can make sound business decisions.

As a financial manager, you'll need a good head for figures and for dealing with complex modelling and analysis, as well as a sound grasp of financial systems and procedures.

You may be employed in many different environments including both public and private sector organisations, such as:

• charities
• financial institutions
• general businesses
• manufacturing companies
• multinational corporations
• NHS trusts
• retailers
• universities.

Clear budgetary planning is essential for both the short and long term, and companies need to know the financial implications of any decision before proceeding.

In addition, care must be taken to ensure that financial practices are in line with all statutory legislation and regulations.

Financial managers may also be known as financial analysts or business analysts.

Responsibilities

The roles of financial managers can vary enormously. In larger companies for instance, the role is more concerned with strategic analysis, while in smaller organisations, a financial manager may be responsible for the collection and preparation of accounts.

In general, tasks across roles may include:

• providing and interpreting financial information
• monitoring and interpreting cash flows and predicting future trends
• analysing change and advising accordingly
• formulating strategic and long-term business plans
• researching and reporting on factors influencing business performance
• analysing competitors and market trends
• developing financial management mechanisms that minimise financial risk
• conducting reviews and evaluations for cost-reduction opportunities
• managing financial accounting, monitoring and reporting systems
• liaising with auditors to ensure annual monitoring is carried out
• developing external relationships with appropriate contacts, e.g. auditors, solicitors, bankers and statutory organisations such as the Inland Revenue
• producing accurate financial reports to specific deadlines
• managing budgets
• arranging new sources of finance for a company's debt facilities
• supervising staff
• keeping abreast of changes in financial regulations and legislation.

Working hours

Working hours are generally 9am to 5pm, five days a week, with some possible flexibility. However, longer hours may be required depending on current deadlines and workload. Jobs within the City in particular can be highly pressured with long working hours. During the early years of your career, if undertaking professional study, you'll need to factor extra working hours into your official working day.

What to expect

• It's common for employers to provide financial support for professional study, as well as study leave.
• Jobs are available in most areas of the country, with the majority being in or near large towns and cities.
• Self-employment is possible. Finance professionals sometimes work as consultants, but usually only after gaining significant experience.
• Career breaks are possible but, as with any profession, if you're considering re-entry you must keep up to date with developments.
• Travel for work is likely, particularly if the company operates from a number of different sites, with overnight stays or periods away from home sometimes required.
• Opportunities to travel and work abroad will depend on the size and nature of the organisation, its clients or customers, and whether it has overseas sites or international links.

Qualifications

Although this area of work is open to all graduates, the following subjects may be particularly helpful and may entitle you to exemptions from some professional examinations:

• accountancy and finance
• business
• economics
• management
• mathematics
• statistics.

A relevant postgraduate course may be useful, but isn't essential. In certain niche areas, specialised knowledge gained through a postgraduate programme may give you a competitive advantage. Graduate schemes in finance and related areas almost always require further study for professional qualifications. Search postgraduate courses in financial management.

Entry into the profession is possible with A-levels (or equivalent) or an HND or HNC, generally by studying with an institution such as the:

• Association of Chartered Certified Accountants (ACCA)
• Institute of Financial Accountants (IFA)

You can then proceed to professional accountancy training and work your way up to a management position.

Gaining membership with a professional organisation is useful as it shows your interest and commitment to the sector. Registration with professional bodies is open to individuals with A-levels (or equivalent) or above, such as an HND or HNC, so you don't have to wait until you've graduated to join.

A variety of organisations offering finance graduate schemes, as well as accountancy professional bodies, hold presentations on university campuses and have stands at careers fairs, where you can talk to representatives and recent graduate trainees in order to get an insight into the nature of the work and tips on what helped them to succeed.

Skills

You'll need to show evidence of the following:

• commercial and business awareness
• excellent communication and presentation skills
• an analytical approach to work
• high numeracy and sound technical skills
• problem-solving skills and initiative
• negotiation skills and the ability to influence others
• strong attention to detail and an investigative nature
• the ability to balance the demands of work with study commitments
• good time management skills and the ability to prioritise
• the ability to work as part of a team and to build strong working relationships
• the capacity to make quick but rational decisions
• the potential to lead and motivate others
• good IT skills.

Work experience

Relevant work experience can be valuable and there are many opportunities available. Some employers run vacation placements or short work experience taster courses. You should apply as early as possible as competition can be strong.

Many of the professional accountancy bodies also publish details of available traineeships. Many employers offer industrial placement years, which can be taken as part of a sandwich degree. Your university careers service and course tutors should be able to offer you support with finding these. It's worth approaching organisations directly for work experience, even if they haven't advertised placements.

Find out more about the different kinds of work experience and internships that are available.