A Financial Manager is responsible for the financial health of an organization, regardless of the industry. As an efficient Financial Manager, you have every responsibility to ensure the financial decisions a company makes are upholding tax and business regulations while ensuring the decision is the most cost-effective move to make.
A Financial Manager will be expected to have a sufficient Bachelors degree often specialising in a subject like Maths, Accounting, Finance or Economics. This is usually a four-year degree and, most Financial Managers will not be hired straight out of university without experience in a related organisation.
After completing her articles at BDO South Africa in the role of Trainee Accountant, Cathmaré moved on to become an Audit Supervisor to Contractor and finally, Group Financial Manager at GetSmarter.
Once in the field, Financial Managers are expected to continually upgrade their skills through Financial Manager courses, certification and licensing, if their company requires it. Promotion and growth are often more likely if Financial Managers keep themselves relevant with the changing times by going for updated Financial Manager training.
“Something that I like to live by is ‘nothing great is achieved in your comfort zone’ – you need to be continuously evolving, looking for challenges, love change and create an environment where the team you manage loves change too and to grow and evolve.”
How much do financial managers earn per month in South Africa?
The average salary for a Finance Manager is R 44 066 per month in South Africa. Salary estimates are based on 2 361 salaries submitted anonymously to Indeed by Finance Manager employees, users, and collected from past and present job advertisements on Indeed in the past 36 months.
What is needed to be a financial manager?
A bachelor’s degree in finance, accounting, economics, or business administration is often the minimum education needed for financial managers. However, many employers now seek candidates with a master’s degree, preferably in business administration, finance, or economics.
What does a financial manager do in South Africa?
The financial manager helps the organization become aware of weaknesses and risks regarding its financial situation. The manager then offers suggestions as to how financial goals can be achieved. Prepare and submit budget and resource reports and statements, with an eye towards compliance.