Financial Managers
11-3031.00
Bright Outlook Updated 2024

The occupation code you requested, 11-3031.02 (Financial Managers, Branch or Department), is no longer in use. In the future, please use 11-3031.00 (Financial Managers) instead.

Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.

Sample of reported job titles: Accounting Supervisor, Banking Center Manager (BCM), Branch Manager, Business Banking Manager, Credit Administration Manager, Credit Manager, Financial Center Manager, Financial Planning Manager, Financial Reporting Manager, Financial Systems Manager

Also see: Treasurers and Controllers, Investment Fund Managers

Occupation-Specific Information

Tasks

  • Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
  • Oversee the flow of cash or financial instruments.
  • 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.
  • Recruit staff members.
  • Evaluate data pertaining to costs to plan budgets.
  • Oversee training programs.
  • Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.
  • Communicate with stockholders or other investors to provide information or to raise capital.
  • Develop or analyze information to assess the current or future financial status of firms.
  • Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
  • Prepare financial or regulatory reports required by laws, regulations, or boards of directors.
  • Examine, evaluate, or process loan applications.
  • 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.
  • Network within communities to find and attract new business.
  • Prepare operational or risk reports for management analysis.
  • Review collection reports to determine the status of collections and the amounts of outstanding balances.
  • Review reports of securities transactions or price lists to analyze market conditions.
Find occupations related to multiple tasks

Technology Skills

  • Accounting software — Accounts receivable software; Fund accounting software; Intuit QuickBooks Hot technology ; Sage 50 Accounting; 1 more
  • Analytical or scientific software — IBM SPSS Statistics Hot technology ; SAS Hot technology
  • Business intelligence and data analysis software — Alteryx software Hot technology ; IBM Cognos Impromptu; Oracle Business Intelligence Enterprise Edition; Tableau Hot technology ; 2 more
  • Cloud-based data access and sharing software — Microsoft SharePoint Hot technology
  • Compliance software — Tax compliance property tax management software
  • Customer relationship management CRM software — Blackbaud The Raiser's Edge; Salesforce software Hot technology
  • Data base management system software — Teradata Database Hot technology
  • Data base reporting software — SAP Crystal Reports
  • Data base user interface and query software — Microsoft SQL Server Hot technology ; Oracle Database Hot technology ; Structured query language SQL Hot technology ; Yardi software Hot technology ; 3 more
  • Development environment software — Microsoft Visual Basic Hot technology ; Microsoft Visual Basic for Applications VBA Hot technology
  • Document management software — Adobe Acrobat Hot technology
  • Electronic mail software — IBM Notes; Microsoft Exchange; Microsoft Outlook In-Demand Hot technology
  • Enterprise resource planning ERP software — Microsoft Dynamics Hot technology ; Oracle PeopleSoft Hot technology ; SAP software In-Demand Hot technology ; Workday software Hot technology ; 7 more
  • Enterprise system management software — IBM Power Systems software
  • Financial analysis software — ARES Corporation PRISM Project Estimator; Credit management software; Delphi Technology; Oracle E-Business Suite Financials
  • Human resources software — ADP Workforce Now; Human resource information system (HRIS); Human resource management software HRMS
  • Information retrieval or search software — LexisNexis
  • Internet browser software
  • Medical software — Healthcare common procedure coding system HCPCS
  • Object or component oriented development software — R Hot technology
  • Office suite software — Microsoft Office software In-Demand Hot technology
  • Operating system software — Microsoft Windows Hot technology
  • Presentation software — Microsoft PowerPoint In-Demand Hot technology
  • Process mapping and design software — Microsoft Visio Hot technology
  • Project management software — Microsoft Project Hot technology ; Oracle Primavera Enterprise Project Portfolio Management Hot technology
  • Sales and marketing software — Marketo Marketing Automation Hot technology
  • Spreadsheet software — Microsoft Excel In-Demand Hot technology ; Moody's KMV FAMAS
  • Word processing software — Microsoft Word Hot technology
Hot technology
Hot Technologies are requirements most frequently included across all employer job postings.
In demand
In Demand skills are frequently included in employer job postings for this occupation.

Occupational Requirements

Work Activities

  • Working with Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
  • Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
  • Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
  • Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
  • Coaching and Developing Others — Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
  • Guiding, Directing, and Motivating Subordinates — Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
  • Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
  • Coordinating the Work and Activities of Others — Getting members of a group to work together to accomplish tasks.
  • Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
  • Developing and Building Teams — Encouraging and building mutual trust, respect, and cooperation among team members.
  • Judging the Qualities of Objects, Services, or People — Assessing the value, importance, or quality of things or people.
  • Scheduling Work and Activities — Scheduling events, programs, and activities, as well as the work of others.
  • Developing Objectives and Strategies — Establishing long-range objectives and specifying the strategies and actions to achieve them.
  • Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
  • Communicating with People Outside the Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
  • Training and Teaching Others — Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
  • Providing Consultation and Advice to Others — Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
  • Performing Administrative Activities — Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
  • Performing for or Working Directly with the Public — Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
  • Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
  • Interpreting the Meaning of Information for Others — Translating or explaining what information means and how it can be used.
  • Monitoring Processes, Materials, or Surroundings — Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
  • Resolving Conflicts and Negotiating with Others — Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
  • Thinking Creatively — Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.

Detailed Work Activities

Find occupations related to multiple detailed work activities

Work Context

Experience Requirements

Job Zone

Title
Job Zone Four: Considerable Preparation Needed
Education
Most of these occupations require a four-year bachelor's degree, but some do not.
Related Experience
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Job Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Job Zone Examples
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, conservation scientists, art directors, and cost estimators.
SVP Range
(7.0 to < 8.0)

Training & Credentials

State training
Local training
Certifications
Find certifications nationwide
State licenses

Apprenticeship Opportunities

Example apprenticeship titles for this occupation:

  • Bank Branch Manager

Specific title(s) listed above are vetted by industry and approved by the U.S. Department of Labor for use in a Registered Apprenticeship Program.

Start your career and build your skillset. Visit Apprenticeship.gov to learn about opportunities related to this occupation.

Worker Requirements

Skills

  • 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.
  • Reading Comprehension — Understanding written sentences and paragraphs in work-related documents.
  • 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.
  • Writing — Communicating effectively in writing as appropriate for the needs of the audience.
  • 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.
  • Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Management of Personnel Resources — Motivating, developing, and directing people as they work, identifying the best people for the job.
  • Service Orientation — Actively looking for ways to help people.
  • Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.
  • Time Management — Managing one's own time and the time of others.
  • Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Mathematics — Using mathematics to solve problems.
  • Persuasion — Persuading others to change their minds or behavior.
  • Management of Financial Resources — Determining how money will be spent to get the work done, and accounting for these expenditures.
  • Negotiation — Bringing others together and trying to reconcile differences.
  • Learning Strategies — Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
  • Systems Analysis — Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • Systems Evaluation — Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.

Knowledge

  • 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.
  • 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.
  • Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
  • Administrative — Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
  • Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Law and Government — Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Personnel and Human Resources — Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
  • 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.
  • English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Education and Training — Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
  • Computers and Electronics — Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Education

How much education does a new hire need to perform a job in this occupation? Respondents said:

  • 56%
     
    Bachelor’s degree required
  • 21%
     
    Post-baccalaureate certificate required
  • 14%
     
    High school diploma or equivalent required

Worker Characteristics

Abilities

  • Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
  • Written Comprehension — The ability to read and understand information and ideas presented in writing.
  • Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
  • Speech Clarity — The ability to speak clearly so others can understand you.
  • Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
  • Written Expression — The ability to communicate information and ideas in writing so others will understand.
  • Information Ordering — The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
  • Near Vision — The ability to see details at close range (within a few feet of the observer).
  • Speech Recognition — The ability to identify and understand the speech of another person.
  • Mathematical Reasoning — The ability to choose the right mathematical methods or formulas to solve a problem.
  • Number Facility — The ability to add, subtract, multiply, or divide quickly and correctly.
  • Fluency of Ideas — The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
  • Flexibility of Closure — The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
  • Category Flexibility — The ability to generate or use different sets of rules for combining or grouping things in different ways.
  • Speed of Closure — The ability to quickly make sense of, combine, and organize information into meaningful patterns.

Interests

Interest code: EC
Want to discover your interests? Take the O*NET Interest Profiler at My Next Move.
  • Enterprising — Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
  • Conventional — Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.

Work Values

  • Working Conditions — Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
  • Independence — Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
  • Recognition — Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.

Work Styles

  • Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
  • Integrity — Job requires being honest and ethical.
  • Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
  • Leadership — Job requires a willingness to lead, take charge, and offer opinions and direction.
  • Concern for Others — Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
  • Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
  • Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
  • Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high-stress situations.
  • Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
  • Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
  • Independence — Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
  • Initiative — Job requires a willingness to take on responsibilities and challenges.
  • Self-Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
  • Social Orientation — Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
  • Persistence — Job requires persistence in the face of obstacles.
  • Innovation — Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.

Workforce Characteristics

Wages & Employment Trends

Median wages (2023)
$75.05 hourly, $156,100 annual
State wages
Local wages
Employment (2023)
837,100 employees
Projected growth (2023-2033)
Much faster than average (9% or higher)
Projected job openings (2023-2033)
75,100
State trends
Top industries (2023)

Source: Bureau of Labor Statistics 2023 wage data and 2023-2033 employment projections . “Projected growth” represents the estimated change in total employment over the projections period (2023-2033). “Projected job openings” represent openings due to growth and replacement.

Job Openings on the Web

State job openings
Local job openings

More Information

Professional Associations

Disclaimer: Sources are listed to provide additional information on related jobs, specialties, and/or industries. Links to non-DOL Internet sites are provided for your convenience and do not constitute an endorsement.

National Associations
Accreditation, Certification, & Unions