Financial Managers Job Description

Financial Managers, Branch or Department
Job Description
Direct and coordinate financial activities of workers in a branch, office, or department of an establishment, such as branch bank, brokerage firm, risk and insurance department, or credit department.
Financial Managers, Branch or Department Tasks Performed
  • Analyze and classify risks and investments to determine their potential impacts on companies.

  • Approve or reject, or coordinate the approval and rejection of, lines of credit and commercial, real estate, and personal loans.

  • Communicate with stockholders and other investors to provide information, and to raise capital.

  • Develop and analyze information to assess the current and future financial status of firms.

  • Direct floor operations of brokerage firm engaged in buying and selling securities at exchange.

  • Direct insurance negotiations, select insurance brokers and carriers, and place insurance.

  • Establish and maintain relationships with individual and business customers, and provide assistance with problems these customers may encounter.

  • Establish procedures for custody and control of assets, records, loan collateral, and securities, in order to ensure safekeeping.

  • Evaluate data pertaining to costs in order to plan budgets.

  • Evaluate financial reporting systems, accounting and collection procedures, and investment activities, and make recommendations for changes to procedures, operating systems, budgets, and other financial control functions.

  • Examine, evaluate, and process loan applications.

  • Monitor order flow and transactions that brokerage firm executes on the floor of exchange.

  • Network within communities to find and attract new business.

  • Oversee the flow of cash and financial instruments.

  • Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.

  • Plan, direct, and coordinate the activities of workers in branches, offices, or departments of such establishments as branch banks, brokerage firms, risk and insurance departments, or credit departments.

  • Prepare financial and regulatory reports required by laws, regulations, and boards of directors.

  • Prepare operational and risk reports for management analysis.

  • Recruit staff members, and oversee training programs.

  • Review collection reports to determine the status of collections and the amounts of outstanding balances.

  • Review reports of securities transactions and price lists in order to analyze market conditions.

  • Submit delinquent accounts to attorneys or outside agencies for collection.

Financial Managers, Branch or Department Work Activities
  • analyze financial data

  • analyze market conditions

  • analyze operational or management reports or records

  • approve or deny credit applications

  • approve or deny loans

  • assign work to staff or employees

  • compile data for financial reports

  • conduct financial investigations

  • conduct or attend staff meetings

  • develop budgets

  • develop management control systems

  • develop policies, procedures, methods, or standards

  • direct and coordinate financial activities

  • identify financial risks to company

  • monitor credit extension decisions

  • oversee execution of organizational or program policies

  • prepare reports for management

  • prepare required government reports

  • review loan applications

  • use government regulations

  • use negotiation techniques

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