How do you become a finance business manager?

My initial accounting degree was key to starting my career all this way, but I strengthened it through experience, exposure to different organizations, additional qualifications, and personal commitment.

Relevant degree is a must but not enough. You need to strengthen it with experience (analysis,control, reporting etc), professional certifications, skills meaning soft skills like analytical thinking, communication, leadership as well as complementary skills such as foreign language or IT skills. Other factors include networking, staying up to date with current legislation and practices as well as having experiences in different industries. Personally I started my career with financial auditing and I strongly believe that it contributed a lot to my development in terms of technical skills and industry knowledge.

My bachelor's degree in accounting was the minimum level of proficiency needed to start my journey. On the job learning, continuing education, additional certification, in my case a CPA as well a master's degree in business administration (MBA) all contributed to long term growth and success as a finance manager and ultimately a Chief Financial Officer. The most important contributing factor was time and experience.

Yes, I agree that to become a Finance Business Manager tertiary education is important to allow you understand jargons and be able to explain and be understood by stakeholders like investors, tax authorities etc interested in finance activities being undertaken like investors.

Si bien es cierto la educación formal, en el área, puede ser un gran pilar, la experiencia no es menor activo. Es una realidad que la práctica fomenta las capacidades y la repetición es una gran fuente del aprendizaje, no todos los proyectos ó tareas deben ejecutarse en los aspectos teóricos de la materia, el contexto y la actualidad obligan a adaptarse y muy frecuentemente la realidad supera a la teoría.

There are huge differences across countries on how to become a Finance Business Manager. Some value the degree and some the experience. The broad experience in financial tasks is certainly an advantage in this position, which is focused on day-to-day financial operations. Start at the grass root level for example during the studies and work your way up. Working in different roles, organizations and industries creates a strong overall know-how.

Becoming a finance business manager often involves gaining experience in financial management, analysis, and reporting. Roles such as financial analyst, accountant, auditor, or controller in diverse industries can serve as valuable stepping stones to develop the necessary skills for the position.

Una titulación adecuada es básico y necesario para poder postular a un puesto de gerencia, pero es la experiencia demostrable en la aplicación de la materia lo que te permitirá tener opciones reales al puesto. Las empresas soy muy conscientes del precio de cometer errores en la toma de decisiones, por ello necesitan saber cómo te has desenvuelto en entornos similares en el pasado.

Experience is equally important, this ensures you have sufficient skills to deliver beyond expectations but also ensures you lead by coaching and passing knowledge to your team that creates a good and strong team for operational excellence

Professional education uplift your level of technical ability but makes you standardised on professional benchmarking worldwide

To become a finance business manager, individuals typically need a bachelor's degree in finance, accounting, business administration, or a related field. Some employers may also require a master's degree or professional certification, such as a Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA) designation. Relevant work experience in finance or related fields is also important, and strong analytical, communication, and leadership skills are often necessary for success in this role.

Obtaining professional certifications is a valuable step for a finance manager to enhance their skills, credibility, and career opportunities. Before pursuing a certification, finance managers should assess their career goals, the specific skills they want to enhance, and the industry requirements. Additionally, staying informed about emerging trends and advancements in finance is crucial for ongoing professional development.

Obtaining professional certifications is an excellent way to supplement your education and experience as a finance business manager. Certifications provide third-party validation of your specialized financial knowledge and competencies. The Certified Treasury Professional (CTP) credential through the Association for Financial Professionals (AFP) is well-respected. Other worthwhile certifications include the Certified Management Accountant (CMA) through the Institute of Management Accountants (IMA) and the Chartered Financial Analyst (CFA) designation. Beyond passing exams, these certifications require adherence to ethical codes and continuing education.

Obtaining professional certifications is a strategic step in enhancing credibility as a finance manager. Certifications from bodies like AFP, IMA, or CFA Institute, tailored to your specialization, validate your expertise. These credentials, earned through exams and meeting specific educational and experience criteria, also commit you to high ethical and professional standards. Staying updated with these certifications ensures continuous skill development, crucial in the evolving finance landscape. This commitment to professional excellence sets apart successful finance managers.

I have found it valuable to closely engage with business leaders, understanding the challenges they face. By doing so, I can contribute with my finance perspective effectively

rather than saying the term Finance Business Manager, I usually term it as Finance Business Partner. We need to partner/colklaborate with other operaqting departments and look at areas to make it more cost effective and ways to grow the business. Rather than just focusing on cost cutting, focus on quality expenses which could grow the business.

El saber comunicarte de manera, efectiva siendo objetivo con la información que quieres compartir colabora de sobremanera a que tu público comprenda el mensaje. No importa si estás en una junta, en una conferencia, tienes que generar ese interés de que querer que los demás te escuchen. Por lo general a los financieros nos ven como si fueramos fríos, exactos y sin habilidades de comunicación ya que nos centramos en indicadores exactos, por lo cual el saber trabajar en equipo, comunicarte de manera efectiva, negociar y mantener a tu equipo motivado y comprometido logrará que destaques dentro de los líderes de tu organización y tu equipo trabajará mejor y más feliz.

Developing your soft skills is essential for success as a finance business manager. You'll need exceptional communication abilities to effectively present financial data to diverse audiences ranging from executives to clients. Strong written and verbal communication skills allow you to distill complex information into clear, concise reports and presentations stakeholders can understand. As a leader, you must also cultivate collaboration and teamwork. The ability to bring people together, negotiate with others, and motivate teams is paramount. Finance managers regularly interface with departments across an organization.

Beyond technical proficiency, excelling as a finance business manager demands robust soft skills. Effective communication is paramount, extending to diverse audiences like senior executives, business units, clients, and regulators. The ability to articulate complex financial information clearly and concisely, employing suitable tools and formats, is crucial. Collaboration is equally vital, involving adept negotiation with stakeholders and the capacity to lead and motivate teams. These soft skills complement your technical acumen, fostering a well-rounded approach that not only interprets financial intricacies but also navigates the interpersonal dynamics inherent in the role of a finance business manager.

Networking and learning from others more experienced in the field is invaluable for career progression as a finance business manager. Actively engaging with professional associations and attending conferences or local meetups enables valuable learning and exposure. These platforms allow interaction with mentors who can offer advice tailored to your goals. Joining online forums and groups expands your reach for networking and perspectives. Within your own organization, seek guidance from senior managers and directors through informal check-ins. Observe their leadership styles and solicit feedback on your skills. Collaborate closely with peers as well, sharing challenges and brainstorming solutions.

Expanding your career horizons as a finance business manager involves proactive networking and continuous learning from others in the field. Engaging with professional associations, attending events, and participating in online forums and groups dedicated to finance and business management create avenues for knowledge exchange. Seeking mentors, coaches, or sponsors provides valuable guidance, feedback, and potential opportunities. Additionally, tapping into the collective wisdom of peers, colleagues, and managers by asking questions, sharing ideas, and actively seeking feedback contributes to a holistic approach in your professional development journey.

Indeed networking is a must to gain view from other practitioners from different industries. External mentor mentee engagement would create valuable inputs from outsiders perspective which your peers within could have overlooked or becomes complacent.

Seek out mentors! Be proactive and build relationships. Participate in networking activities. Actively engage in networking activities to build relationships and establish rapport with other professionals. Attend networking events, join industry-related committees or forums. Be proactive in introducing yourself, asking questions, and showing genuine interest in others' experiences and perspectives.

Above all, you should have a deep passion for your work, demonstrating enthusiasm and dedication in every task you undertake. Additionally, it is crucial to stay constantly updated with the latest trends, technologies, and advancements in the field.

The Software as a Service (SaaS) business model has played a transformative role in the business development landscape, and its influence is expected to continue shaping many industries in the future. SaaS offers a cost-effective alternative to traditional software models and allows easy scalability. The future of SaaS is likely to see increased integration of artificial intelligence (AI) and automation, enhancing the efficiency and capabilities of software applications.

Given the dynamic nature of the finance and business landscape, staying abreast of the latest trends and best practices is imperative for a finance business manager. Regularly engaging with industry publications, blogs, podcasts, and newsletters is an effective way to stay informed and updated. Enrolling in courses, workshops, webinars, or online programs provides opportunities to enhance your skills and deepen your knowledge. Actively seeking new challenges and opportunities to apply your learning not only keeps you relevant but also serves as a means to showcase your value in the ever-evolving realm of finance and business management.

I like to update with industry trends and practices and keep on learning new technology with AI which has definitely changed the look of reporting by creating visual reports with the help of AI tools. (power BI) Business related publication helps with the development of new ideas and platforms like LinkedIn help a lot in getting updates

To become a finance manager, staying abreast of industry trends and best practices is crucial. Regularly update your knowledge on financial regulations, market dynamics, and emerging technologies. Attend industry conferences, enroll in relevant courses, and engage with financial publications. Demonstrating a commitment to staying informed not only enhances your expertise but also positions you as a valuable asset to your organization, paving the way for career advancement in financial management.

There is a big difference between a Finance Manager and a Finance Business Manager. To be a good Finance Business Manager, one needs to understand the business and its various components in detail ............. and what drives or does not drive the business. This is key!