An Operations Finance Manager is responsible for reviewing the company’s budget in order to determine the company’s financial future. He or she will analyze various aspects of accounting including production and goods costs in order to insure appropriate expenses. Financial forecasting is a very important aspect of this job. The Operations Finance Manager is responsible for the entire company’s budget as well as assisting departments with their own financial operations. This job requires a mathematic-minded person who can interpret charts and data and use the information to create a financial plan.
A Financial Operations Manager often works closely with other heads of OM fields such as human resources or information technology. While these other operations manager’s focus on the entirety of a specific field, the Financial Operations Manager is concerned with the accounting of the entire company. If he/she looks into other fields, it is to see how the information affects the company’s financial future.
Day in the Life
As a Financial Operations Manager, you can expect to spend a lot of time at your desk pouring over data charts and financial reports. On a daily or weekly basis, you will need to check the company’s financial reports as it compares to the yearly budget. It is your job to identify overspending and find ways to fix it. You can expect to spend time with the various department heads and helping them with their budgets. Also, you will typically hold financial strategy meetings. A work day falls into regular working hours Monday through Friday. However, it isn’t unusual to work long hours or even weekends.
Analytical, mathematically-minded people are ideal for this job. You will need to be good at interpreting data charts and using them to make predictions. This is a position for Type A personalities who are capable of working on their own with little supervision. You must also enjoy routine and be able to meet strict deadlines.
To secure an entry-level position as Operations Finance Manager, you will generally need a bachelor’s degree in finance, accounting, or operations management. This education should be adequate to gain a higher-level position once you have gained several years of experience. However, many companies prefer you to have a master’s degree or higher. Fields of expertise may include math, statistics, banking or even physics. You may also want a certification as a chartered financial analyst (CFA).
Rate of Pay
As a Financial Operations Manager, you are likely to have a much higher pay than as an accountant or auditor. With a bachelor’s degree, you can expect a starting salary of around $50k going up to $100+k with experience. With a master’s degree and experience, you can expect a salary ranging from $75k to $107k. The average salary for a Financial Operations Manager is $80k.
There is a great job outlook for Financial Operations Managers. Jobs are generally available in larger companies or corporations such as banking, healthcare or IT fields. This is still a very competitive field though so you will need an BBA and least 4 years’ experience to secure an mid-level position.
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