Daily tasks/Routine activities

1. 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.

2. Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.

3. Evaluate data pertaining to costs to plan budgets.

4. Examine, evaluate, or process loan applications.

5.Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.

6. Prepare financial or regulatory reports required by laws, regulations, or boards of directors.

7. Develop or analyze information to assess the current or future financial status of firms.

8.Communicate with stockholders or other investors to provide information or to raise capital.

9. 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.

10. Analyze and classify risks and investments to determine their potential impacts on companies.

11. Review collection reports to determine the status of collections and the amounts of outstanding balances.

12.Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.

13. Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.

14. Review reports of securities transactions or price lists to analyze market conditions.

15. Direct insurance negotiations, select insurance brokers or carriers, and place insurance.

16. Submit delinquent accounts to attorneys or outside agencies for collection.

Key knowledge areas

The following are relevant knowledge areas to financial managers to effectively carry out their duties; 

Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.This helps in keeping updates with global charges and exchange rates.

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.

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.

Skills

These are the relevant skills a financial manager should have;

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.

Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Monitoring — Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.

Reading Comprehension — Understanding written sentences and paragraphs in work related documents.

Speaking — Talking to others to convey information effectively.

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.

Abilities

Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.

Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Coordination — Adjusting actions in relation to others' actions.

Management of Personnel Resources — Motivating, developing, and directing people as they work, identifying the best people for the job.

Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.

Persuasion — Persuading others to change their minds or behavior.

Service Orientation — Actively looking for ways to help people.

Time Management — Managing one's own time and the time of others.

Learning Strategies — Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.

Negotiation — Bringing others together and trying to reconcile differences.

Systems Analysis — Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.

Management of Financial Resources — Determining how money will be spent to get the work done, and accounting for these expenditures.