The field of financial management includes jobs that involve overseeing the cash flow, investments, financial reports and overall financial strategies of an organization. Specific responsibilities depend upon a manager's particular job in financial management. Read on to explore some of the options.
Popular Careers in Financial Management
Financial managers often specialize by industry, such as banking, insurance, investments, real estate, education, healthcare and law. Others choose financial management careers with corporations, nonprofits or government entities. Some of the more popular careers in financial management are explored in this article.
<h3 id="section---ImportantFactsAboutFinancialManagers">Important Facts About Financial Managers</h3><p></p><table border="1"><tr><td><b>Required Education</b></td><td>Bachelor's degree</td></tr>
<tr><td><b>Work Environment</b></td><td>Office or bank setting</td></tr>
<tr><td> <b>Median Salary (2021) </b> </td><td> $131,710 (<i>for all financial managers</i>)</td></tr>
<tr><td> <b>Job Outlook (2021-2031) </b></td><td> 17% growth (<i>for all financial managers</i>)</td></tr>
</table><p><i>Source: U.S. Bureau of Labor Statistics</i>
</p><h3 id="section---Controller">Controller</h3><p>A controller directs the day-to-day financial functions of an organization in addition to forecasting its financial future. In addition to managing cash flow, overseeing budgets, preparing financial statements and submitting required reports to regulatory agencies, a controller is often called upon to provide input on both short-term and long-term business decisions.
</p><h3 id="section---InsuranceManager">Insurance Manager</h3><p>An insurance manager, also known as a risk manager, assesses an organization's financial health with regard to its liability and potential for loss, as well as oversees its insurance policies and insurance-related transactions. An insurance manager is expected to provide analyses of business decisions from a risk perspective, stay abreast of industry regulations and give advice regarding potential litigation.
</p><h3 id="section---BankManager">Bank Manager</h3><p>Financial managers at financial institutions, such as commercial banks and credit unions, oversee the services that banks provide to their customers. Responsibilities include approving loans, issuing mortgages, directing investment funds, understanding federal regulations and managing electronic banking services. Bank managers are employed both in corporate offices and in bank branches.
</p><h3 id="section---InvestmentManager">Investment Manager</h3><p>An investment manager analyzes financial markets and advises individual and corporate investors on the selection of securities and assets, such as stocks, bonds and real estate. Also known as a fund, wealth, portfolio or asset manager, an investment manager is expected to have a thorough knowledge of domestic financial markets, global financial markets and investment funds.</p>
