Financial Managers, Branch or Department Go Back to List 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.

Tasks
	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.
	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.
	Prepare operational or risk reports for management analysis.

Skills
	Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
	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.
	Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
	Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
	Writing - Communicating effectively in writing as appropriate for the needs of the audience.
	Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
	Management of Personnel Resources - Motivating, developing, and directing people as they work, identifying the best people for the job.
	Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
	Coordination - Adjusting actions in relation to others' actions.

Knowledge
	Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
	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.
	Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
	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.
	English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
	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.
	Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
	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.
	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.
	Psychology - Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.

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Education & Training   Education:   Most of these occupations require a four-year bachelor's degree, but some do not.   Related 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.

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Wage Information
	Region Average Entry Level  Mid-Range  Annual  Hourly  Statewide $182,676.00 $87.82  $50.00  $60.10 - $105.70  Bridgeport/Stamford $205,989.00 $99.04  $53.46  N/A - N/A  Danbury $162,087.00 $77.93  $43.63  $51.91 - $91.03  Hartford $175,424.00 $84.34  $53.49  $63.18 - $101.99  New Haven $165,160.00 $79.40  $44.18  $51.63 - $94.66  New London/Norwich $152,991.00 $73.56  $41.45  $48.09 - $84.21  Waterbury $145,206.00 $69.81  $38.94  $46.23 - $82.61  Torrington $139,563.00 $67.10  $40.50  $45.20 - $77.64

Occupation Outlook ( 2016 - 2026 ) Average Annual Job Openings:   1723   Employment in this occupation is expected to grow more slowly than average, and the number of annual openings will offer limited job opportunities.

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	Some of the occupational information on this page is formulated from O*NETTM v17.0 data. O*NETTM is a trademark of the U.S. Department of Labor, Employment and Training Administration.