Financial managers manage budgets and investments for companies.

Financial managers handle and track money for organizations. They track and analyze financial information, write reports, and communicate with coworkers.

Financial managers often direct other workers. In small companies, they supervise accountants and bookkeepers. In large companies, they may oversee the supervisors of the other financial workers. Some financial managers recruit and hire new staff. They may train new workers.

Duties of financial managers vary with their specific titles.

Chief financial officers

Chief financial officers (CFOs) are the top financial executives. They oversee all financial functions. They also prepare and implement the organization's financial plans and policies. In small firms, chief financial officers may handle all financial matters. In large firms, they may direct one financial department.

Controllers

Controllers are financial managers who prepare financial reports, such as balance sheets. They also prepare reports required by the government. In addition, controllers often supervise the accounting, audit, and budget departments.

Treasurers and finance officers

Treasurers and finance officers oversee budgets and move organizations toward their financial goals. They develop strategies for how their companies should invest their money.

Cash managers

Cash managers monitor and control the cash flow of a firm.

Risk and insurance managers

Risk and insurance managers try to reduce financial risk and loss.

Credit managers

Credit managers decide to whom the firm will loan money. They set credit-rating criteria and oversee the collections of past-due accounts.

Bank branch managers

Bank branch managers set collection policies and supervise workers who collect on unpaid loans and credit card bills. They review reports about the status of collection procedures. When their workers are unable to collect, bank managers submit these accounts to lawyers for further action. In addition, bank managers may evaluate loan applications and decide how much money customers can borrow.