What is a Branch or Department Financial Manager?
Branch or Department Financial Manager Example 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
- Develop or analyze information to assess the current or future financial status of firms.
- Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
- Review reports of securities transactions or price lists to analyze market conditions.
- Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.
- Direct insurance negotiations, select insurance brokers or carriers, and place insurance.
- Network within communities to find and attract new business.
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Things a Branch or Department Financial Manager Should Know How to Do
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.
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.
Related Job Titles
- Commercial Banker
- Vice President
- Bank Cashier
- Banking Manager
- Relationship Manager
Job Outlook for Branch or Department Financial Managers
In 2016, there was an estimated number of 580,400 jobs in the United States for Branch or Department Financial Manager. 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. The BLS estimates 56,900 yearly job openings in this field.
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 salary for Branch or Department Financial Managers ranges between about $67,620 and $208,000 a year.
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 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
How to Become a Branch or Department Financial Manager
Education needed to be a Branch or Department Financial Manager:
What work experience do I need to become a Branch or Department Financial Manager?
Where Branch or Department Financial Managers Work
The table below shows the approximate number of Branch or Department Financial Managers employed by various industries.
Other Jobs You May be Interested In
Career changers with experience as a Branch or Department Financial Manager sometimes find work in one of the following fields:
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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