Finance Managers
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Finance Managers
Finance 301, Strategic Corporate Finance
When you think of finance, you wonder who runs this complex industry. The chief financial officer is usually the backbone of the working industry along with the finance manager. The duties of financial managers vary with their specific titles because the range in this field seems endless. Some of the specific titles include controller, treasurer or finance officer, credit manager, cash manager, and risk and insurance manager (1). Your career can be hindered from the finance industry without a bachelors degree in this particular industry. The ideal training and education allows the individual learning to venture out into the field of finance. Being a finance manager allows you to think and act like a true leader.
Controllers deal with the preparation of finance reports that give the organization an overview of the money spent, how it was allocated, and using this information for future use. If a mistake was made on allocating funds in one direction, he or she will know how to track and correct the mistake.
Another similar role is the Treasurer and Finance Officers because the duties sometimes overlap. There are some instances where the organization is so small that the finance manager might have the role of the controller, treasurer or finance officer, credit manager, cash manager, and risk insurance manager. This sounds a bit hectic, but in a small organization, this wouldnt be so terrible.
Credit managers are the individuals that deal with any type of credit issues. They handle the start up of credit for the organization and of course the customer. This is an important position within the organization because they can make or break the overall earnings just by the credit criteria.
Lastly, the cash managers roles deal with the cash flow and the payment (payout) of any funds within the organization. The organization can range from a business of ten personnel to a business of three thousand personnel. This is where the role as a cash manager branches out from corporate to branch locations which include cash managers at those different levels.
Chief financial officers (CFOs), for example, are the top financial executives of an organization. They oversee all financial and accounting functions and formulate and administer the organizations