What Do Branch or Department Financial Manager Do?
Job Description: 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.
A Day in the Life of a Branch or Department Financial Manager
- Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.
- 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.
- 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.
- Prepare operational or risk reports for management analysis.
- Communicate with stockholders or other investors to provide information or to raise capital.
- Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
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Qualities of a Branch or Department Financial Manager
Below is a list of the skills most Branch or Department Financial Managers say are important on the job.
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.
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.
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.
Related Job Titles
- Risk Management Director
- Bank Manager
- Tax Manager
- Accounts Supervisor
- Financial Administrator
What Kind of Branch or Department Financial Manager Job Opportunities Are There?
In the United States, there were 580,400 jobs for Branch or Department Financial Manager in 2016. 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.
Branch or Department Financial Manager Average Salary
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.
How much do Branch or Department Financial Managers make in each U.S. state?
| 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?
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
- SAP
- Microsoft Windows
- Microsoft Project
- Microsoft SharePoint
- Microsoft Visio
- Structured query language SQL
- Microsoft Dynamics
- SAS
- IBM Notes
- Microsoft Visual Basic
- FileMaker Pro
- IBM SPSS Statistics
How do I Become a Branch or Department Financial Manager?
What kind of Branch or Department Financial Manager requirements are there?
How Long Does it Take to Become a Branch or Department Financial Manager?
Where do Branch or Department Financial Managers Work?
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
More about our data sources and methodologies.
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