Finance Manager
What's it like to be a Finance Manager?
Finance Managers are professionals responsible for overseeing the financial health of a business. They analyse daily financial activities, create data analysis reports of said activities, and advise Finance Directors, CFOs, and senior management on potential strategies and solutions that will optimise profitability. They help create solutions to problems, providing the information that enables finance teams to make sound business decisions.
Tasks and duties
- Creating financial reports.
- Recommending solutions to financial problems.
- Advising on financial strategies and investment decisions.
- Maintaining the financial health of a business.
- Analysing a company’s entire financial performance.
- Analysing costs, pricing, sales, profits and losses.
- Predicting trends and forecasts.
- Recommending cost-reduction strategies.
- Overseeing operations in the finance department.
- Designing frameworks for the finance department.
- Setting goals and objectives for the finance department.
- Responding to queries from other non-finance departments.
- Collaborating with accountants, treasurers, and other finance personnel.
- Reporting to Finance Directors and CFOs.
Specific tasks for Finance Managers vary depending on the business they work for. For example, Finance Managers in small businesses might oversee the company’s entire financial operations, but Finance Managers in conglomerates might be tasked to oversee specific departments or objectives. Finance Managers can specialise in certain tasks and in turn become controllers, treasurers, credit managers, or insurance managers.
How to become a Finance Manager
Finance Managers are encouraged to have multiple years of experience or to be certified Accountants in Singapore.
Pursue a bachelor degree in business, finance, financial management, accounting, or any other related field.
Complete an internship at an established financial company.
Gain at least two years of experience in an entry level job in finance, business, or accounting.
Attain accounting certification, such as qualification from Certified Public Accountant (CPA), Association of Chartered Certified Accountants (ACCA), or Chartered Accountant (CA).
Gain at least two to five years of experience in a company’s finance department before applying for Finance Manager roles.
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