Financial Managers

Accounting Supervisor

Banking Center Manager (BCM)

Branch Manager

Business Banking Manager

Credit Administration Manager

Credit Manager

Financial Center Manager

Financial Planning Manager

Financial Reporting Manager

Financial Systems Manager

What is a Financial Manager?

Financial Managers are professionals responsible for the financial health of an organization. They oversee the preparation of financial reports, direct investment activities, and develop strategies to achieve long-term financial goals. Acting as key decision-makers, they analyze financial data and market conditions to help organizations make informed business decisions and maintain profitability. Financial Managers typically hold advanced degrees in finance, accounting, or business administration, and possess strong analytical skills coupled with a comprehensive understanding of financial regulations and trends. Their roles can vary significantly across different industries, but their core objective remains the same: to ensure that an organization has sound financial strategies to support its operations and growth. They play a crucial role in budgeting, forecasting, investment planning, and risk management, working closely with other executives to align financial goals with overall business strategies.

Job Outlook

Projected salary and job growth

This career will grow rapidly in the next few years.

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Assessment

Related assessments and tests

No assessment available.

Related Occupations

Tasks

Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
Oversee the flow of cash or financial instruments.
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.
Recruit staff members.
Evaluate data pertaining to costs to plan budgets.

Technology Skills

Enterprise resource planning ERP software
Presentation software
- Microsoft PowerPoint 365
Data base user interface and query software
Business intelligence and data analysis software
Accounting software

Tools Used

Personal digital assistant PDAs or organizers
- Personal digital assistants PDA
Desktop calculator
- 10-key calculators
Scanners
Notebook computers
Desktop computers

Knowledge

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.
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
Administrative
Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

7372 Active Jobs in South Africa

Avg Salary: R53,587pm

How to know if you are ready to be a Financial Manager in South Africa

Navigating the South African financial landscape requires more than just a knack for numbers; it demands a strategic mindset and a deep understanding of local regulatory frameworks. With 7,813 active jobs currently available in the market and an average starting salary of R13,008 per month, the path to becoming a Financial Manager is both promising and competitive. This guide will help you determine if you possess the grit and the skill set to thrive in this pivotal role.

Is Financial Manager Right for Me? (Psychometric Checklist)

Before committing to the long road of professional accreditation, assess whether your personality traits align with the demands of the South African boardroom. Ask yourself if you possess the following:

Uncompromising Integrity: Are you prepared to uphold the highest ethical standards in accordance with South African auditing and reporting regulations?
Analytical Rigour: Do you enjoy dissecting complex data sets to identify trends, risks, and opportunities?
Strategic Foresight: Can you look beyond the monthly balance sheet to help a business organise its long-term financial health?
Communication Clarity: Are you able to translate technical financial jargon into actionable insights for non-financial stakeholders?
Resilience under Pressure: Can you maintain accuracy and composure during high-stakes periods such as month-end closures and SARS tax seasons?
Leadership Aptitude: Do you have the desire to mentor junior accountants and lead a finance department toward collective goals?

A Day in the Life

In a typical South African corporate environment, a Financial Manager’s day starts early, often reviewing cash flow reports and market fluctuations. You might spend your morning liaising with department heads to ensure budget compliance or overseeing the preparation of VAT and Tax submissions to SARS. The afternoon could involve a strategic meeting with Directors to discuss B-BBEE financial compliance or investment strategies for expansion.

The role is a blend of intense focus and collaborative problem-solving. You are the guardian of the company’s solvency, ensuring that every Rand is accounted for while navigating the unique challenges of the local economy. It is a position of high responsibility where your decisions directly impact the livelihoods of employees and the sustainability of the organisation.

Education & Upskilling

The journey to becoming a Financial Manager in South Africa is paved with rigorous academic and practical training. Most professionals begin with a formal degree, such as a Bachelor of Commerce (BCom) in Accounting or Financial Management from a recognised university. Alternatively, the TVET sector offers National N-Diplomas that provide a solid foundation for those entering the technical side of financial administration.

However, a degree is merely the starting point. To truly excel, you should aim for professional designations such as those offered by SAICA (CA(SA)), SAIPA, or CIMA. Short courses in advanced Excel, FinTech, and International Financial Reporting Standards (IFRS) are essential for staying relevant. Continuous learning is key; the South African regulatory environment is constantly evolving, and a successful Financial Manager must proactively update their knowledge through professional development programmes and certifications.

Next Steps

If you find yourself nodding along to these requirements and feel inspired by the challenge, you are already halfway there. However, a career in finance is a significant commitment that requires a clear understanding of your current strengths and weaknesses. Don't leave your career progression to chance. Test your readiness now by completing our comprehensive professional assessment to see if you have what it takes to lead a South African finance team to success.

Skills

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.
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
Speaking
Talking to others to convey information effectively.
Monitoring
Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.

Abilities

Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
Written Comprehension
The ability to read and understand information and ideas presented in writing.
Deductive Reasoning
The ability to apply general rules to specific problems to produce answers that make sense.
Speech Clarity
The ability to speak clearly so others can understand you.

Education

How much education does a new hire need to perform a job in this occupation?

Bachelor's degree

56 %
Post-baccalaureate certificate

21 %

Awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree, but do not meet the requirements of academic degrees carrying the title of Master
High school diploma or equivalent

14 %

or: GED, High School Equivalency Certificate

Work Activities

Working 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.
Communicating with Supervisors, Peers, or Subordinates
Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Processing Information
Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Evaluating Information to Determine Compliance with Standards
Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.

Detailed Work Activities

Determine pricing or monetary policies.
Establish interpersonal business relationships to facilitate work activities.
Communicate organizational information to customers or other stakeholders.
Monitor flow of cash or other resources.
Analyze forecasting data to improve business decisions.

Work Interests

Enterprising
Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
Conventional
Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.