Financial Managers

Finance

Level 6637 of 1200 points

Job description

Financial Managers

Job purpose

To plan, direct and coordinate the accounting, investing, banking, insurance, securities and credit activities of a branch, office or department and the staff delivering them, so that funds and financial instruments are properly controlled, customers are well served and the unit's financial and regulatory obligations are met.

Skills

Knowledge of economic and accounting principles, the financial markets and banking, and of the analysis and reporting of financial data, combined with the customer service, business management and personnel knowledge needed to run a branch, office or department, and with the laws, regulations and agency rules governing lending, securities and financial reporting. A bachelor's degree is the norm, with a substantial minority holding a post-baccalaureate certificate and some entering from a school diploma, together with several years of related experience.
Establishes and maintains relationships with individual and business customers and assists them with the problems they encounter, deals directly with the public, and communicates with stockholders and other investors to provide information or raise capital. Networks within the community to attract new business. Inside the unit, guides, directs and motivates staff, coaches and develops individuals and oversees training.
Examines and evaluates loan applications and assesses the current and future financial standing of firms; evaluates financial reporting systems, accounting and collection procedures and investment activities and recommends changes to procedures, operating systems and financial controls; and resolves the problems individual and business customers bring. Criteria and regulation frame most decisions, but the underlying facts are often incomplete.
Plans, directs and coordinates the activities of the unit's workers, evaluates cost data to plan budgets, establishes procedures for the custody and control of assets, records, loan collateral and securities, and schedules work against reporting cycles set by law, regulation and the board. Sets much of the unit's own agenda, but statutory and board deadlines are fixed and the work is done under sustained time pressure.
Work is carried out at a desk and in meetings, using financial, banking and reporting systems. No manual handling or dexterity demands.

Responsibilities

Manages the staff of a branch, office or department — a branch bank, brokerage office, risk and insurance function or credit department — recruiting members, overseeing training and developing individuals, and is answerable for their output and conduct. Carries some responsibility for their health and safety.
Oversees the flow of cash and financial instruments and establishes the procedures that keep assets, records, loan collateral and securities safe. Evaluates cost data to plan the unit's budgets, approves or rejects lines of credit and commercial, real estate and personal loans, reviews collection reports for outstanding balances, and communicates with investors to raise capital. Commits the organisation's own funds and credit within delegated approval limits.
Ordinary care of a workstation and of the financial and banking systems used, together with accountability for the custody arrangements protecting assets, records, collateral and securities. No responsibility for premises, plant or stock.
Accountable for the unit's financial information: prepares the financial and regulatory reports required by law, regulation or the board of directors, produces operational and risk reports for management, and reviews securities transaction reports and price lists to read market conditions. Handles confidential customer financial data where exactness is essential.

Effort required

Sustains detailed processing, verification and analysis of financial data where exactness matters throughout, while carrying a high volume of contact with staff, customers and investors. Decisions are frequent, taken under marked time pressure, and their consequences fall on colleagues and on the results of the unit.
Holds personal accountability for the performance of the unit and its people in a competitive market. Declining credit, pursuing outstanding balances and handling customer complaints bring recurring conflict, which must be handled without damaging the relationship.
Predominantly seated work at a desk, with movement between meetings and customer appointments. No lifting or exertion.

Working conditions

Indoor, environmentally controlled office work without physical hazard, alongside colleagues and in regular contact with external customers and the public. The demand is psychological rather than physical: conflict situations arise in customer and credit matters, and the postholder carries some responsibility for the health and safety of other workers.
Almost all incumbents work an established routine to a set schedule; the hours are long, with around three-quarters working more than a standard week. Considerable freedom to determine the unit's tasks, priorities and goals sits alongside a steady core of repeated work, frequent decision making, sustained time pressure and a competitive operating environment.

Skills

40% · 246 points▾

KnowledgeLevel 4 of 8
72 of 144 points
Factual and theoretical knowledge in broad contexts within a field of work. The job requires a range of thinking and practical knowledge to find solutions to specific problems in the job or study area.
Interpersonal and communication skillsLevel 3 of 5
58 of 96 points
Effective communication and interpersonal relationships. The job holder is required to adapt communication to different audiences and foster trust, cooperation and positive working relationships.
Problem-solving skillsLevel 3 of 5
58 of 96 points
Variable problems. The job involves dealing with different kinds of problems that require careful thinking, research into different options or adjusting existing ways of doing things. Guidance and resources may be limited.
Planning and organisational skillsLevel 4 of 5
58 of 72 points
Advanced organisational skills required. The job requires planning and managing complex, often overlapping tasks or schedules. The job requires a degree of autonomy and joint planning, and managing interdependencies across teams or departments.
Physical skillsLevel 0 of 5
0 of 72 points
Not applicable. The job does not require any particular physical skills (although there is likely to be some physical activity).

Responsibility

35% · 269 points▾

PeopleLevel 4 of 5
115 of 144 points
High level of responsibility for people. The job involves significant responsibility for the well-being and development of others. This includes making decisions that affect others' jobs, tasks or welfare, such as managing teams, providing care, teaching or ensuring psychological safety. It can also include hiring, evaluating, motivating, coaching and leading workers.
Goods and equipmentLevel 0 of 5
0 of 84 points
Not applicable. The job does not involve any responsibility for goods or equipment.
InformationLevel 4 of 5
77 of 96 points
Considerable responsibility for information. The job manages large amounts of valuable or sensitive information, deciding what is needed and how it is used and ensuring it is protected.
Financial resourcesLevel 4 of 5
77 of 96 points
Considerable responsibility for financial resources. The job involves managing large budgets or financial portfolios, making decisions on allocations, or overseeing the financial integrity for a department or organisation. The job may include liaising with auditors or financial officers.

Effort

15% · 91 points▾

Mental effortLevel 4 of 5
48 of 60 points
Very high level of mental effort. The job requires continuous high-level mental concentration, with few or no breaks, involving intellectually demanding tasks that require continuous focus.
Psychosocial and emotional effortLevel 3 of 5
43 of 72 points
Moderate psychosocial and emotional effort. The job requires the regular management of emotional responses, such as dealing with sensitive or challenging individuals or situations.
Physical effortLevel 0 of 5
0 of 48 points
Not applicable. The job does not require any physical effort.

Working Conditions

10% · 31 points▾

Environment (physical, psychological or emotional)Level 1 of 5
17 of 84 points
Minimal exposure to hazards or stress. The job involves little or no exposure to physical hazards (e.g. chemicals, moving equipment, noise) and minimal emotional or psychological risks (e.g. occasional routine tasks with no emotional burden). There is minor exposure to dust, dirt, fumes, noise, waste, poor lighting, etc.
Organisational environmentLevel 2 of 5
14 of 36 points
Occasional organisational demands. The job may involve occasional irregular hours (e.g. the requirement to work weekends or holidays), minimal travel or limited digital connectivity outside normal working hours.