All About Branch or Department Financial Managers
Job Description & Duties 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.
Daily Life Of a Branch or Department Financial Manager
- 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.
- Examine, evaluate, or process loan applications.
- Develop or analyze information to assess the current or future financial status of firms.
- Recruit staff members.
- Evaluate data pertaining to costs to plan budgets.
- Communicate with stockholders or other investors to provide information or to raise capital.
What Skills Do You Need to Work as a Branch or Department Financial Manager?
When polled, Branch or Department Financial Managers say the following skills are most frequently used in their jobs:
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
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.
Monitoring: Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
Speaking: Talking to others to convey information effectively.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Other Branch or Department Financial Manager Job Titles
- Accounting Manager
- Collections Manager
- Assistant Vice President (AVP)
- Financial Institution Manager
Job Outlook for Branch or Department Financial Managers
There were about 580,400 jobs for Branch or Department Financial Manager in 2016 (in the United States). New jobs are being produced at a rate of 18.7% which is above the national average. The Bureau of Labor Statistics predicts 108,600 new jobs for Branch or Department Financial Manager by 2026. Due to new job openings and attrition, there will be an average of 56,900 job openings in this field each year.
The states with the most job growth for Branch or Department Financial Manager are Utah, Nevada, and Arizona. Watch out if you plan on working in Alaska, Maryland, or District of Columbia. These states have the worst job growth for this type of profession.
Salary for a Branch or Department Financial Manager
The typical yearly salary for Branch or Department Financial Managers is somewhere between $67,620 and $208,000.
Branch or Department Financial Managers who work in New York, New Jersey, or Delaware, make the highest salaries.
Below is a list of the median annual salaries for Branch or Department Financial Managers in different U.S. states.
|State||Annual Mean Salary|
|District of Columbia||$166,710|
What Tools do Branch or Department Financial Managers Use?
Below is a list of the types of tools and technologies that Branch or Department Financial Managers may use on a daily basis:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Microsoft Access
- Data entry software
- Word processing software
- Microsoft Windows
- Microsoft Project
- Microsoft SharePoint
- Microsoft Visio
- Structured query language SQL
- Microsoft Dynamics
- IBM Notes
- Microsoft Visual Basic
- FileMaker Pro
- IBM SPSS Statistics
How to Become a Branch or Department Financial Manager
Education needed to be a Branch or Department Financial Manager:
How Long Does it Take to Become a Branch or Department Financial Manager?
Where Branch or Department Financial Managers Work
Branch or Department Financial Managers work in the following industries:
You May Also Be Interested In…
Those who work as a Branch or Department Financial Manager sometimes switch careers to one of these choices:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
More about our data sources and methodologies.
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