Example Career: Financial Managers, Branch or Department
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.
What Job Titles Financial Managers, Branch or Department Might Have
- Banking Center Manager (BCM)
- Branch Manager
- Credit Administration Manager
- Vice President
What Financial Managers, Branch or Department Do
- Plan, direct, or coordinate the activities of workers in branches, offices, or departments of establishments, such as branch banks, brokerage firms, risk and insurance departments, or credit departments.
- Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
- Recruit staff members.
- Prepare operational or risk reports for management analysis.
- Evaluate data pertaining to costs to plan budgets.
- Oversee training programs.
- Examine, evaluate, or process loan applications.
- Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
- Oversee the flow of cash or financial instruments.
- Prepare financial or regulatory reports required by laws, regulations, or boards of directors.
- Develop or analyze information to assess the current or future financial status of firms.
- Communicate with stockholders or other investors to provide information or to raise capital.
- Evaluate financial reporting systems, accounting or collection procedures, or investment activities and make recommendations for changes to procedures, operating systems, budgets, or other financial control functions.
- Analyze and classify risks and investments to determine their potential impacts on companies.
- Network within communities to find and attract new business.
- Review collection reports to determine the status of collections and the amounts of outstanding balances.
- Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.
- Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.
- Review reports of securities transactions or price lists to analyze market conditions.
- Direct insurance negotiations, select insurance brokers or carriers, and place insurance.
- Submit delinquent accounts to attorneys or outside agencies for collection.
What Financial Managers, Branch or Department Should Be Good At
- Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
- Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Written Comprehension - The ability to read and understand information and ideas presented in writing.
- Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
- Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
- Speech Recognition - The ability to identify and understand the speech of another person.
- Speech Clarity - The ability to speak clearly so others can understand you.
- Written Expression - The ability to communicate information and ideas in writing so others will understand.
- Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Near Vision - The ability to see details at close range (within a few feet of the observer).
- Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
- Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
What Financial Managers, Branch or Department Should Be Interested In
- Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
- Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
What Financial Managers, Branch or Department Need to Learn
- Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
- Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.