Financial Manager

OFO No: 121101

Other names for a Financial Manager:

• Account Systems Manager
• Budgeting Manager
• Chief Accountant
• Chief Financial Officer (CFO)
• Finance Director
• Financial Administration Manager
• Financial Administrator
• Financial Controller
• Foreign Exchange Manager
• Internal Revenue Controller
• Municipal Finance Manager
• Revenue Assessment Manager

What is a Financial Manager?

A Financial manager is in charge of the money in the company. It’s a very senior and responsible job in the company.

Financial Managers make decisions on:

• Income
• Payrolls (salaries)
• Investments
• Costs
• Mergers & acquisitions

Financial Managers usually report to Corporate Management and in some cases, to the Board of Directors. In large companies, Financial Managers are part of a financial team.

What does a Financial Manager do?

(tasks can differ depending on the size of the company)

• manages the staff in the financial department
• prepares financial reports
• consults with experts like tax attorneys and tax officials
• liaises with management on financial matters
• considers ways of reducing costs and making the company more profitable
• researches possible merges with other companies
• keeps up to date with local and national financial and tax laws

Are you . . . ?

• passionate about business and finance?
• intellectual?
• analytical?
• responsible?
• ethical?
• a person who pays attention to detail?
• confident?
• ambitious?

How do I become a Financial Manager?

Financial Managers usually have a degree or two in Accounting, Finance or both. Once they have worked in the financial industry for 10 to 15 years some of them go back to study a Master’s degree. Financial Managers are highly skilled people with lots of responsibilities riding on their shoulders.

You would need a lot of different skills. To be a good Financial Manager you would need to know as much as possible about finance, tax, law etc. This takes time and a lot of hard work.

Financial Managers are generally older due to this fact. They have spent years and years working to gain all the experience and skills necessary to be promoted to this level.

Financial Managers are ambitious and hard working. The next step up from this position is CFO (Chief Financial Officer).

PATH 1

Finance qualification and / or workplace experience

PATH 2

Finance qualification and / or workplace experience

Postgraduate qualification in Financial Management

• University of Cape Town 
• University of KZN
• University of Pretoria
• UNISA
• University of Stellenbosch 

PATH 3

Bachelor of Accounting

Certificate in the Theory of Accounting

TRAINING:

• CLICK HERE to check for a training institution near you to see what they offer.
• Make sure you understand their entry requirements for each course.
• To avoid scams, make sure your institution is registered with the Department of Higher Education. 
• CLICK HERE to check accredited Private Higher Education Institutions. 

OTHER CAREERS TO CONSIDER: Actuary … or … Accountant

Is becoming a Financial Manager the right career choice for me?