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Branch or Department Financial Manager

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What Do Branch or Department Financial Manager Do?

Position 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.

Life As a Branch or Department Financial Manager: What Do They Do?

  • Prepare operational or risk reports for management analysis.
  • Evaluate data pertaining to costs to plan budgets.
  • Submit delinquent accounts to attorneys or outside agencies for collection.
  • Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.
  • Oversee training programs.
  • Develop or analyze information to assess the current or future financial status of firms.

What Skills Do You Need to Work as a Branch or Department Financial Manager?

These are the skills Branch or Department Financial Managers say are the most useful in their careers:

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

  • Accountant Supervisor
  • Banking Supervisor
  • Service Center Manager
  • Branch Manager
  • Financial Institution Assistant Branch Manager

Is There Going to be Demand for Branch or Department Financial Managers?

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. The BLS estimates 56,900 yearly job openings in this field.

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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.

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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:

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How Long Does it Take to Become a Branch or Department Financial Manager?

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Where Branch or Department Financial Managers Work

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Branch or Department Financial Managers work in the following industries:

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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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