Financial Managers, Branch or Department - 11-3031.02

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.

Sample of reported job titles: Assistant Manager, Assistant Vice President (AVP), Banking Center Manager (BCM), Banking Officer, Branch Manager, Credit Administration Manager, Financial Center Manager, Regional Manager, Service Center Manager, Vice President

Tasks

• 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.
• Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
• Recruit staff members.
• Prepare operational or risk reports for management analysis.
• Evaluate data pertaining to costs to plan budgets.
• Oversee training programs.
• Examine, evaluate, or process loan applications.
• Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
• Oversee the flow of cash or financial instruments.
• Prepare financial or regulatory reports required by laws, regulations, or boards of directors.
• Develop or analyze information to assess the current or future financial status of firms.
• Communicate with stockholders or other investors to provide information or to raise capital.
• 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.
• Analyze and classify risks and investments to determine their potential impacts on companies.
• Network within communities to find and attract new business.
• Review collection reports to determine the status of collections and the amounts of outstanding balances.
• Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.
• Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.
• Review reports of securities transactions or price lists to analyze market conditions.
• Direct insurance negotiations, select insurance brokers or carriers, and place insurance.
• Submit delinquent accounts to attorneys or outside agencies for collection.

Technology Skills

• Accounting software - Fund accounting software ; Intuit QuickBooks ; Sage 50 Accounting; Tax software (see all 5 examples)
• Analytical or scientific software - IBM SPSS Statistics ; SAS
• Business intelligence and data analysis software - IBM Cognos Impromptu ; MicroStrategy ; Qlik Tech QlikView ; Tableau (see all 5 examples)
• Customer relationship management CRM software - Blackbaud The Raiser's Edge ; Salesforce software
• Data base reporting software - SAP Crystal Reports
• Data base user interface and query software - Data entry software ; FileMaker Pro; Microsoft Access ; Structured query language SQL (see all 5 examples)
• Development environment software - Microsoft Visual Basic
• Electronic mail software - IBM Notes ; Microsoft Outlook
• Enterprise resource planning ERP software - Microsoft Dynamics ; NetSuite ERP ; Oracle PeopleSoft ; SAP Business Objects (see all 10 examples)
• 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
• Graphics or photo imaging software - Microsoft Visio
• 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
• Office suite software - Microsoft Office
• Presentation software - Microsoft PowerPoint
• Project management software - Microsoft Project ; Microsoft SharePoint ; Oracle Primavera Enterprise Project Portfolio Management
• Sales and marketing software - Marketo Marketing Automation
• Spreadsheet software - Microsoft Excel ; Moody's KMV FAMAS
• Word processing software - Microsoft Word

Tools Used

• Desktop calculator - 10-key calculators
• Desktop computers
• Notebook computers
• Personal computers
• Personal digital assistant PDAs or organizers - Personal digital assistants PDA
• Scanners
• Tablet computers

Knowledge

• 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.
• 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

• 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.
• 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.
• Mathematics - Using mathematics to solve problems.
• Instructing - Teaching others how to do something.
• 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.
• 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.

Abilities

• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• 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 there is a problem.
• Speech Clarity - The ability to speak clearly so others can understand you.
• Speech Recognition - The ability to identify and understand the speech of another person.
• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
• Near Vision - The ability to see details at close range (within a few feet of the observer).
• 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).
• Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
• 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).
• Category Flexibility - The ability to generate or use different sets of rules for combining or grouping things in different ways.
• Number Facility - The ability to add, subtract, multiply, or divide quickly and correctly.
• Memorization - The ability to remember information such as words, numbers, pictures, and procedures.
• Originality - The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
• Time Sharing - The ability to shift back and forth between two or more activities or sources of information (such as speech, sounds, touch, or other sources).

Interests

• Interest code: EC
  • Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
  • Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Work Context

• Electronic Mail - 100% responded “Every day.”
• Face-to-Face Discussions - 99% responded “Every day.”
• Telephone - 100% responded “Every day.”
• Contact With Others - 72% responded “Constant contact with others.”
• Indoors, Environmentally Controlled - 93% responded “Every day.”
• Importance of Being Exact or Accurate - 75% responded “Extremely important.”
• Frequency of Decision Making - 65% responded “Every day.”
• Duration of Typical Work Week - 78% responded “More than 40 hours.”
• Responsibility for Outcomes and Results - 55% responded “High responsibility.”
• Coordinate or Lead Others - 51% responded “Extremely important.”
• Work With Work Group or Team - 55% responded “Extremely important.”
• Deal With External Customers - 52% responded “Extremely important.”
• Structured versus Unstructured Work - 44% responded “Some freedom.”
• Freedom to Make Decisions - 46% responded “Some freedom.”
• Spend Time Sitting - 49% responded “Continually or almost continually.”
• Impact of Decisions on Co-workers or Company Results - 45% responded “Important results.”
• Time Pressure - 53% responded “Once a week or more but not every day.”
• Frequency of Conflict Situations - 56% responded “Once a week or more but not every day.”
• Level of Competition - 44% responded “Moderately competitive.”
• Importance of Repeating Same Tasks - 39% responded “Extremely important.”
• Deal With Unpleasant or Angry People - 41% responded “Once a month or more but not every week.”
• Letters and Memos - 33% responded “Every day.”
• Responsible for Others' Health and Safety - 48% responded “High responsibility.”
• Physical Proximity - 41% responded “Moderately close (at arm's length).”
• Consequence of Error - 32% responded “Very serious.”

Education

Percentage of Respondents	Education Level Required
50%	Bachelor's degree
17%	High school diploma or equivalent
14%	Master's degree

Work Styles

• Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
• Integrity - Job requires being honest and ethical.
• Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
• Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
• Persistence - Job requires persistence in the face of obstacles.
• Leadership - Job requires a willingness to lead, take charge, and offer opinions and direction.
• Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace.
• Initiative - Job requires a willingness to take on responsibilities and challenges.
• Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
• Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
• Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
• Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems.
• Concern for Others - Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
• 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.
• Social Orientation - Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
• Innovation - Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.

Work Values

• Independence - Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
• 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.
• 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.

Wages & Trends

• Median wages (2017)
  • $60.14 hourly, $125,080 annual
• Employment (2016)
  • 580,000 employees
• Projected growth (2016-2026)
  • Much faster than average (15% or higher)
• Projected job openings (2016-2026)
  • 56,900