Control financial resources

Description

Monitor and control budgets and financial resources providing capable stewardship in company management.

Alternative labels

control finances
oversee company budgets
manage and control company budgets
manage finances
monitor financial resources
monitor and manage financial resources
manage financial resources
monitor and control financial resources
supervise company budgets
conduct financial management activities
perform company financial management activities

Skill type

skill/competence

Skill reusability level

cross-sector

Relationships with occupations

Essential skill

Control financial resources is an essential skill of the following occupations:

Branch manager: Branch managers are responsible for the management of all the affairs related with a company in a specific geographic region or business branch. They receive indications from the headquarters, and depending on the structure of the company, they aim to implement the strategy of the company while adapting it to the market where the branch operates. They envision management of employees, communications, marketing efforts, and follow up to results and objectives.
Real estate manager: Real estate managers handle and oversee the operational aspects of commercial or residential properties such as private apartments, office buildings and retail stores. They negotiate contracts for lease, identify and plan new real estate projects and construction of new buildings by partnering with a developer to identify the appropriate site for new buildings, coordinate the feasibility study for new constructions and supervise all the administrative and technical aspects involved in expanding the business. They maintain the premises and aim to increase its value. They hire, train and supervise personnel.
Financial auditor: Financial auditors collect and examine financial data for clients, organisations and companies. They ensure the financial data is properly maintained and free of material misstatements due to error or fraud, that it adds up, and functions legally and effectively. They review lending and credit policies or numbers in databases and documents, evaluate, consult and assist the source of the transaction if necessary. They use their review of the client’s financial governance as assurance to give testimony to the shareholders, stakeholders and board of directors of the organisation or company that all is up to par.
Budget manager: Budget managers assess financial proposals of different departments before granting financial resources to projects. They monitor the implementation of budget policies and procedures. They work closely with other departments in the evaluation of programs, their impact in the organisation, the revenue that they can yield, and the financial efforts required.
Business manager: Business managers are responsible for setting the objectives of the business unit of a company, creating a plan for the operations, and facilitating the achievement of the objectives and implementation of the plan together with employees of the segment and stakeholders. They keep an overview of the business, understand detailed information of the business unit and support the department, and make decisions based on the information at hand.
Insurance agency manager: Insurance agency managers coordinate and oversee the operations of an institution or a branch of an institution that offers insurance services. They provide clients with advice on insurance products.
Bank manager: Bank managers oversee the management of one or several bank activities. They set policies which promote safe banking operations, ensure the economic, social and commercial targets are met and that all the bank departments, activities and commercial policies are in compliance with legal requirements. They also manage employees and maintain an effective working relationship among the staff.
Pipeline superintendent: Pipeline superintendents manage the direction and overall development of pipeline transport projects. They envision the planning, the route selection, the management of resources, and the daily operations. They develop long-term vision safeguarding efficiency of the infrastructure.
Public finance accountant: Public finance accountants head the treasury department of a governmental institution. They manage the institution’s financial administration, expenditure and income generation, and compliance with taxation and other financial legislation. They perform administrative duties to ensure record keeping, develop plans for budget management and perform financial forecasts.
Medical practice manager: Medical practice managers manage the day-to-day operations of a medical practice. They oversee the staff and business side of the practice.
Investment fund manager: Investment fund managers implement and monitor the investment strategy of a fund. They manage the fund’s portfolio trading activities and supervise the financial, securities, and investment analysts in charge to perform research on the investments and then make buying and selling recommendations. They make decisions on when to buy or sell the assets included in a portfolio. This manager works in a variety of settings such as banks, companies and stockbroking companies; working closely with the investment analyst. This occupation manages strategy and does not always work with relations between shareholders or investors.
Industrial production manager: Industrial production managers oversee the operations and the resources needed in industrial plants and manufacturing sites for a smooth running of the operations. They prepare the production schedule by combining the requirements of clients with the resources of the production plant. They organise the journey of incoming raw materials or semi finished products in the plant until a final product is delivered by coordinating inventories, warehouses, distribution, and support activities.
Road transport division manager: Road transport division managers maintain control of processes relating to vehicles, staff, customers, routes, and contracts.

Optional skill

Control financial resources is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Mergers and acquisitions analyst: Mergers and acquisitions analysts oversee the execution of transactions for the purchase, sale, merger or takeover of companies. They negotiate and complete the deal on the client’s behalf, by working closely with lawyers and accountants. Mergers and acquisitions analysts conduct operational and legal risk assessments of a company, assess comparable companies in the market and help with the post-merger integration.
Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Business service manager: Business service managers are reponsible for the provision of professional services to companies. They organise the provision of services tailored to the needs of the client and liaise with clients to agree on the contractual obligations for both parties.
Industrial engineer: Industrial engineers design a vast array of production systems aiming to present efficient and effective solutions. They integrate a varied number of variables such as workers, technology, ergonomics, production flows, and product specifications for the design and implementation of production systems. They can specify and design for microsystems as well.
Financial risk analyst: Financial risk analysts correctly identify and review potential risk areas threatening the assets or capital of organisations. They specialise in either credit, market, operational or regulatory risk analysis. They use statistical analysis to evaluate risk, make recommendations to reduce and control risk and review documentation for legal compliance.
Department manager: Department managers are responsible for the operations of a certain division or department of a company. They ensure objectives and goals are reached and manage employees.
Resource manager: Resource managers manage resources for all potential and assigned projects. They liaise with the different departments to see that all various resources are met, in a timely manner, and communicate any resourcing issues that may impact scheduled deadlines.
Supply chain manager: Supply chain managers plan, manage and coordinate all activities related to the sourcing and procurement of supplies needed to run manufacturing operations from the acquisition of raw materials to the distribution of finished products. The supplies can be raw materials or finished products, and it can be for internal or external use. Moreover, they plan and commission all the activities needed to be performed in manufacturing plants and adjust operations to changing levels of demand for a company’s products.
Operations manager: Operations managers plan, oversee and coordinate the daily operations of production of goods and provision of services. They also formulate and implement company policies and plan the use of human resources and materials.
Programme manager: Programme managers coordinate and oversee several projects working simultaneously. They ensure workability and compatibility among projects ensuring that overall, each one of the projects under the management of project managers, turn out profitable and leveraging one to the other.
Production engineer: Production engineers review and evaluate production performance, perform data analysis and identify under-performing production systems. They search for long or short term solutions, plan production enhancements and process optimizations.

 


 

References

  1. Control financial resources – ESCO

 

Last updated on September 20, 2022