Financial Managers, Branch or Department

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About the Job

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.

It is also Called

  • Vice President
  • Trust Officer
  • Tax Manager
  • Service Center Manager
  • Risk Management Director
  • Risk and Insurance Manager
  • Relationship Manager
  • Reimbursement Director
  • Regional Manager
  • Paymaster
show all

What They Do

  • Submit delinquent accounts to attorneys or outside agencies for collection.
  • Direct insurance negotiations, select insurance brokers or carriers, and place insurance.
  • Review reports of securities transactions or price lists to analyze market conditions.
  • Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.
  • Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.
  • Review collection reports to determine the status of collections and the amounts of outstanding balances.
  • Network within communities to find and attract new business.
  • Analyze and classify risks and investments to determine their potential impacts on companies.
  • 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.
  • Communicate with stockholders or other investors to provide information or to raise capital.

Interests

People who work in this occupation generally have the interest code: C.

This means people who work in this occupation generally have Conventional interests.

Work Values

People who work in this occupation generally prize Working Conditions, but also value Independence and Recognition in their jobs.

Things They Need to Know

  • 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.

Things They Need to Be Able to Do

  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Speaking - Talking to others to convey information effectively.
  • Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.



Pennsylvania Department of Education