Page 520 - Business Principles and Management

Chapter 18 • Credit and Insurance

Career Cluster

Financial Manager

anaging finances and making financial Needed Skills
decisions affect every part of a business.
MFinancial managers develop budgets, man- • Must have a bachelor’s degree in finance,
accounting, or a related field at a minimum;
age investments, monitor financial resources, master’s degree in business administration,
prepare and file government reports, and ana- economics, or finance preferable.
lyze the effects of business activities on the busi- • Courses in business law, economics, ac-
ness’s financial condition. The goal is to support counting, finance, mathematics, and statis-
top executives and other managers in using tics desirable.
financial resources effectively and increasing • Must be analytical, pay attention to detail,
the company’s profits. Most financial managers be able to work under pressure, manage
work in private industry, insurance, banking, and time effectively.
financial services with opportunities in govern-
ment and other public organizations.
Working in Financial Services
Employment Outlook As the cash manager for
Financial management jobs a large service business,
will grow as fast as or faster Emily monitors cash re-
than most jobs over the ceipts and disbursements
next decade. The number in the day-to-day opera-
of financial jobs is closely tions. She ensures that
tied to changes in the adequate cash is available
economy. However, the to fund short-term opera-
increasing importance of tions and excess cash is in-
financial information as vested. She makes cash
well as increasing financial flow projections and tracks
regulation affecting busi- PHOTO: © DIGITAL VISION. the use of cash against
nesses will result in a higher projections to improve the
demand for people skilled company’s cash manage-
in financial management. ment decisions.

Job Titles Career Assessment
Controller Check your library or the Internet for infor-
Treasurer mation about financial managers to identify
Finance officer the many diverse roles they play in business.
Credit manager Describe what you like and don’t like about
Risk and insurance manager financial management careers.

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