What is a Branch or Department Financial Manager?
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.
List of Branch or Department Financial Manager Job Duties
- Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
- Examine, evaluate, or process loan applications.
- Review collection reports to determine the status of collections and the amounts of outstanding balances.
- Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.
- Prepare financial or regulatory reports required by laws, regulations, or boards of directors.
- Prepare operational or risk reports for management analysis.
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Branch or Department Financial Manager Required Skills
Branch or Department Financial Managers state the following job skills are important in their day-to-day work.
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 Director
- Bank Officer
- Field Supervisor
- Service Center Manager
- Auditing Manager
What Kind of Branch or Department Financial Manager Job Opportunities Are There?
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. There will be an estimated 56,900 positions for Branch or Department Financial Manager per 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.
Average Branch or Department Financial Managers Salary
The average yearly salary of a Branch or Department Financial Manager ranges between $67,620 and $208,000.
Branch or Department Financial Managers who work in New York, New Jersey, or Delaware, make the highest salaries.
How much do Branch or Department Financial Managers make in different U.S. states?
| State | Annual Mean Salary |
|---|---|
| Alabama | $128,690 |
| Alaska | $110,010 |
| Arizona | $117,620 |
| Arkansas | $106,530 |
| California | $157,480 |
| Colorado | $163,740 |
| Connecticut | $167,160 |
| Delaware | $167,110 |
| District of Columbia | $166,710 |
| Florida | $132,850 |
| Georgia | $145,920 |
| Hawaii | $118,740 |
| Idaho | $95,690 |
| Illinois | $144,680 |
| Indiana | $119,820 |
| Iowa | $114,620 |
| Kansas | $129,660 |
| Kentucky | $114,420 |
| Louisiana | $106,950 |
| Maine | $119,080 |
| Maryland | $152,180 |
| Massachusetts | $148,300 |
| Michigan | $128,270 |
| Minnesota | $133,970 |
| Mississippi | $101,840 |
| Missouri | $136,520 |
| Montana | $109,940 |
| Nebraska | $113,910 |
| Nevada | $123,890 |
| New Hampshire | $124,700 |
| New Jersey | $175,880 |
| New Mexico | $104,790 |
| New York | $210,510 |
| North Carolina | $149,710 |
| North Dakota | $123,890 |
| Ohio | $135,610 |
| Oklahoma | $111,700 |
| Oregon | $118,680 |
| Pennsylvania | $156,730 |
| Rhode Island | $145,120 |
| South Carolina | $125,710 |
| South Dakota | $132,030 |
| Tennessee | $111,460 |
| Texas | $149,990 |
| Utah | $110,750 |
| Vermont | $113,610 |
| Virginia | $164,030 |
| Washington | $136,480 |
| West Virginia | $102,670 |
| Wisconsin | $134,850 |
| Wyoming | $116,920 |
What Tools & Technology do Branch or Department Financial Managers Use?
Although they’re not necessarily needed for all jobs, the following technologies are used by many Branch or Department Financial Managers:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Microsoft Access
- Data entry software
- Word processing software
- SAP
- Microsoft Windows
- Microsoft Project
- Microsoft SharePoint
- Microsoft Visio
- Structured query language SQL
- SAS
- Microsoft Dynamics
- IBM Notes
- Microsoft Visual Basic
- FileMaker Pro
- IBM SPSS Statistics
Becoming a Branch or Department Financial Manager
What education or degrees do I need to become a Branch or Department Financial Manager?
How Long Does it Take to Become a Branch or Department Financial Manager?
Who Employs Branch or Department Financial Managers?
Branch or Department Financial Managers work in the following industries:
Similar Careers
Those who work as a Branch or Department Financial Manager sometimes switch careers to one of these choices:
References:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
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