All About Branch or Department Financial Managers
Occupation 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.
List of Branch or Department Financial Manager Job Duties
- Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.
- Oversee the flow of cash or financial instruments.
- Review reports of securities transactions or price lists to analyze market conditions.
- Oversee training programs.
- Analyze and classify risks and investments to determine their potential impacts on companies.
- Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
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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.
Types of Branch or Department Financial Manager Jobs
- Paymaster
- Banking Supervisor
- Financial Institution Manager
- Factor
- Financial Institution Branch Manager
Branch or Department Financial Manager Job Outlook
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.
Branch or Department Financial Manager 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.
Below is a list of the median annual salaries for Branch or Department Financial Managers 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
Learn what Branch or Department Financial Manager education requirements there are.
How many years of work experience do I need?
Branch or Department Financial Managers Sector
The table below shows the approximate number of Branch or Department Financial Managers employed by various industries.
Related 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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