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Financial Managers, Branch or Department

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.   (O'Net 11-3031.02)

 
Reported job titles:   Account Manager, Accountant Supervisor, Accounts Manager, Accounts Supervisor, Actuarial Manager, Asset Manager   (view all job titles)
 
  • Career Video
  • Wages
  • Employment Trends
  • Industries of Employment
  • Tasks
  • Knowledge
  • Skills
  • Abilities
  • Work Activities
  • Interests
  • Work Styles
  • License Information
  • Education & Training Requirements
  • Schools
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    Career Video
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    Wages
    for Financial Managers which includes:
                          - Treasurers and Controllers
                          - Financial Managers, Branch or Department
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     Location Pay
    Period
    2016
    Percentile Wages Average
    Wage
    10% 25% 50%
    Median
    75% 90%
     Vermont Hourly $ 32.66   $ 41.09   $ 53.14   $ 69.13   $ 90.43   $ 58.60  
    Yearly $67,930   $85,470   $110,540   $143,800   $188,090   $121,890  
     
     Burlington-South Burlington, VT Metropolitan NECTA Hourly $ 36.97   $ 45.75   $ 56.72   $ 72.48   $ 97.73   $ 63.48  
    Yearly $76,910   $95,150   $117,980   $150,760   $203,290   $132,030  
     
     Southern Vermont Balance of State Hourly $ 32.05   $ 39.16   $ 51.60   $ 64.78   $ 92.10   $ 56.96  
    Yearly $66,670   $81,440   $107,330   $134,730   $191,570   $118,470  
     
     Northern Vermont Balance of State Hourly $ 29.51   $ 36.20   $ 47.44   $ 67.11   $ 79.64   $ 52.79  
    Yearly $61,390   $75,290   $98,680   $139,590   $165,640   $109,800  
     
    What are Percentile Wages?
    source: Occupational Employment Statistics, Vermont Labor Market Information, U.S. Bureau of Labor Statistics, released April 2017.
     


    Employment Trends
    for Financial Managers which includes:
                                  - Treasurers and Controllers
                                  - Financial Managers, Branch or Department
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    Location Employment Annual % change
    (compounded)
    Annual job openings
    (due to growth and
    net replacements)
    2014 2024
    Vermont 783 820 0.5% 22
    source: Employment Projections, Vermont Economic & Labor Market Information, in cooperation with U.S. Bureau of Labor Statistics, statewide estimates released July 2016.
     


    Industries of Employment
    for Financial Managers which includes:
                                - Treasurers and Controllers
                                - Financial Managers, Branch or Department
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    Industry Percent of Total
    2014
    Credit intermediation and related activities 17.6%
    Management of companies and enterprises 11.6%
    Insurance carriers and related activities 5.6%
    Securities, commodity contracts, and other financial investments and related activities 5.4%
    Accounting, tax preparation, bookkeeping, and payroll services 4.4%
    source: Employment Projections, U.S. Bureau of Labor Statistics, National Employment Matrix, released July 2016.
     


    Tasks
    for Financial Managers, Branch or Department
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  • Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
     
  • Examine, evaluate, or process loan applications.
     
  • 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.
     
  • Oversee the flow of cash or financial instruments.
     
  • Recruit staff members and oversee training programs.
     
  • Network within communities to find and attract new business.
     
  • Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
     
  • Prepare financial or regulatory reports required by laws, regulations, or boards of directors.
     
  • Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.
     
  • Review collection reports to determine the status of collections and the amounts of outstanding balances.
     
    source: Occupational Information Network: Financial Managers, Branch or Department  updated June 2006
     


    Knowledge
    for Financial Managers, Branch or Department
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  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
     
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
     
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
     
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
     
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
     
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
     
  • Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
     
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
     
  • Personnel and Human Resources - Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
     
  • Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
     
    source: Occupational Information Network: Financial Managers, Branch or Department  updated June 2006
     


    Skills
    for Financial Managers, Branch or Department
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  • 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.
     
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
     
  • 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.
     
  • Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
     
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
     
  • Time Management - Managing one's own time and the time of others.
     
  • Coordination - Adjusting actions in relation to others' actions.
     
  • Management of Personnel Resources - Motivating, developing, and directing people as they work, identifying the best people for the job.
     
    source: Occupational Information Network: Financial Managers, Branch or Department  updated June 2010
     


    Abilities
    for Financial Managers, Branch or Department
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  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
     
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
     
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
     
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
     
  • Speech Clarity - The ability to speak clearly so others can understand you.
     
  • Speech Recognition - The ability to identify and understand the speech of another person.
     
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
     
  • Near Vision - The ability to see details at close range (within a few feet of the observer).
     
  • Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
     
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
     
    source: Occupational Information Network: Financial Managers, Branch or Department  updated June 2006
     


    Work Activities
    for Financial Managers, Branch or Department
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  • Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
     
  • Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
     
  • Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
     
  • Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.
     
  • Performing for or Working Directly with the Public - Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
     
  • Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.
     
  • Communicating with Persons Outside Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
     
  • Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
     
  • Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.
     
  • Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
     
    source: Occupational Information Network: Financial Managers, Branch or Department  updated June 2006
     


    Interests
    for Financial Managers, Branch or Department
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  • Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
     
  • Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
     
    source: Occupational Information Network: Financial Managers, Branch or Department  updated June 2008
     


    Work Styles
    for Financial Managers, Branch or Department
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  • Integrity - Job requires being honest and ethical.
     
  • Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
     
  • Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
     
  • Leadership - Job requires a willingness to lead, take charge, and offer opinions and direction.
     
  • Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
     
  • Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
     
  • Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
     
  • Social Orientation - Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
     
  • Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
     
  • Initiative - Job requires a willingness to take on responsibilities and challenges.
     
    source: Occupational Information Network: Financial Managers, Branch or Department  updated June 2006
     


    State of Vermont License Information
    that may be required for Financial Managers, Branch or Department
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    No state licenses listed for this occupation.
     


    Education and Training Requirements
    for Financial Managers, Branch or Department
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  • Job Zone Four: Considerable Preparation Needed
  •  
  • Education: Most of these occupations require a four-year bachelor's degree, but some do not.
  •  
  • Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
  •  
  • Experience: A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
  •  
    source: Occupational Information Network: Financial Managers, Branch or Department  updated June 2006
     


    Schools
    offering instructional programs related to Financial Managers, Branch or Department
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      Related Instructional Programs
     
    • Accounting and Business/Management.
     
    • Accounting and Finance.
     
    • Credit Management.
     
    • Finance and Financial Management Services, Other.
     
    • Finance, General.
     
     Search for schools offering these programs at
     
     
     
    source: National Center for Education Statistics 2000 Classification of Instructional Programs .
     


    Other Resources
    for Financial Managers, Branch or Department
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  • Labor Exchange Information
  • A source for occupational characteristics, such as age, gender, race, and years of education and an alternative source for occupational wage rates. Limited to people looking for jobs and the jobs advertised through VDOL Vermont Job Link.
  • Look for statewide information over the latest 12 months for Financial Managers.
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  • Occupational Outlook Handbook
  • The Occupational Outlook Handbook is a nationally recognized source of career information, designed to provide valuable assistance to individuals making decisions about their future work lives. Revised every two years, the Handbook describes what workers do on the job, working conditions, the training and education needed, earnings, and expected job prospects in a wide range of occupations.
    Go to Occupational Outlook Handbook
    Handbook occupations related to Financial Managers, Branch or Department :
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    Related Occupations
    Occupations with skill requirements similar to Financial Managers, Branch or Department
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  • Education Administrators, Postsecondary
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  • First-Line Supervisors of Office and Administrative Support Workers
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  • Marketing Managers
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  • Public Relations and Fundraising Managers
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  • Sales Agents, Financial Services
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  • Sales Agents, Securities and Commodities
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  • Sales Managers
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  • Treasurers and Controllers
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    source: Occupational Information Network: Financial Managers, Branch or Department 
     

     
     
     
    Vermont.gov State of Vermont Department of Labor