A career as a financial manager is one of the top careers in the business and finance sector. If you are committed to the business and financial sector, you might be interested in starting a career as a financial manager. Most organisations are concerned with finding the appropriate strategies to maximise their revenues. Therefore, they need a financial manager to perform this responsibility. This is why this career is in high demand in almost every industry sector.

A financial manager is in charge of overseeing a company’s finances. They use accounting, financial strategy and forecasting to make sure the company has enough cash flow and profitability. As a result of this, executive leadership teams count on financial managers to produce reports and conduct financial research. This is a lucrative and rewarding field that comes with a high earning potential and career growth. However, you need to have the necessary background, training and skills to succeed in this field. Therefore, it is crucial to know the stages involved in pursuing a career as a finance manager in order to have a successful career in this field.

In this piece, I will walk you through the stages and processes required to follow when pursuing a career as a financial manager.

Steps to Begin a Career as a Financial Manager

1. Complete your Secondary Education

   The first step to pursuing a career as a financial manager is to obtain an O’level certificate. Additionally, you should have a good foundation in finance-related subjects such as accounting, economics, commerce and marketing. This will give you a chance to gain admission into a university and give you the ability to cope with courses in the university. Therefore, you should have a minimum of credits in your O’level results.

2. Gain a Bachelor’s Degree

   To pursue a career as a financial manager, you should obtain a bachelor’s degree in disciplines such as finance, accounting, economics or a related degree. This degree will give you the foundational knowledge you need to venture into the industry as a professional.

3. Gain Practical Experience

   You can gain experience through internships or entry-level jobs. Additionally, you can start your career as an accountant, auditor or financial analyst. This will enable you gain experience by working directly with clients. Furthermore, this experience will also give you access to professionals who can guide you on your career journey.

4. Pursue a Master’s Degree

   You can consider a master’s degree in the finance industry. This can give you an added advantage in the employment market. Additionally, it proves that you have advanced knowledge in the relevant sections in the finance industry. This can also improve your earning potential. You can pursue a master’s degree in areas such as financial modelling, global markets, financial theory and finance principles.

5. Earn Relevant Certifications

   A professional certification can help you stand out when applying for a financial management role. It is important that you earn certifications in the area of finance that you plan on specialising on. You can earn certifications such as Chartered financial analyst (CFA), Certified Treasury Professional (CTA), etc.

6. Develop Relevant Skills

   As an aspiring financial manager, you need to build skills that will enable you have a thriving career. You should build analytical skills, quantitative skills, problem-solving and technical skills. To further enhance these vital skills, you can enroll in courses or attend workshops to gain the relevant skills.

7. Networking

   Networking is essential in the finance sector. You can join organisations and attend business events to connect with colleagues and industry experts. These can enable you obtain new ideas, insightful advice and even enable you discover intriguing career opportunities. Additionally, this can give you a good opportunity to grow your career and give you room for professional development.

Certifications for Financial Managers

1. Certified Financial Manager(CFM)
2. Chartered Financial Analyst(CFA)
3. Certified Treasury Professional (CTP)
4. Financial Risk Manager(FRM)
5. Certified Public Accountant(CPA)

Types of Financial Managers

1. Corporate Finance Managers: Corporate finance managers are in charge of overseeing an organization’s financial assets. Additionally, they are in charge of risk management, analysis and financial planning.
2. Financial Controllers: These financial managers operate in a wide range of organisations and are in charge of the accounting and reporting of finances. Furthermore, they guarantee that financial statements are genuine and in accordance with accounting rules and standards.
3. Risk Managers: Risk managers are in charge of locating and controlling possible risks that can have an influence on an organization’s financial stability.
4. Treasury Managers: They work with businesses and financial institutions overseeing their finances and liquidity. Also, they manage connections with banks and other financial institutions.
5. Investment Managers: They are in charge of maintaining investment portfolios, examining market trends, and selecting investments that would maximise profits for clients. They are employed by finance companies such as banks and investment firms.

Universities in Africa that offer Courses in Business and Finance

1. University of Ilorin, Nigeria
2. Cairo University, Egypt
3. University of Johannesburg, South Africa
4. Mansours University, Egypt
5. University of Sfax, Tunisia
6. Alexandria University, Egypt
7. Obafemi Awolowo University, Nigera
8. University of Ibadan, Nigeria
9. Makerere University, Uganda
10. Covenant University, Nigeria
11. Kwame Nkrumah University of Science and Technology, Ghana
12. University of Sousse, Tunisia
13. Rhodes University, South Africa
14. University of Lagos, Nigeria
15. Afe Babalola University, Ado Ekiti
16. University of Cape Town, South Africa
17. Tanta University, Egpyt
18. University of Pretoria, South Africa
19. University of Nairobi, Kenya
20. Moi University, Kenya
21. University of Witwatersrand
22. Addis Ababa University, Ethiopia
23. University of Botswana
24. Ain Shams University, Egypt
25. University of Cape Coast, Ghana
26. Ahmadu Bello University, Nigeria
27. University of Mauritius, Mauritius
28. Tunis University, Tunisia
29. Nnamdi Azikiwe University, Nigeria
30. Manouba University, Tunisia

In Conclusion, starting a career as a financial manager will offer you a rewarding career and a room for professional development. Additionally, it gives you an opportunity to use your financial and analytical knowledge to guide strategic decisions. You need to acquire the required education and skills to excel in this career path. Overall, starting a career as a financial manager can result in long-term success fulfillment.

Good luck!

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