Financial Services Manager Salary
The average pay for a Financial Services Manager is $65,226 per year. The highest paying skills associated with this job are Sales Management, Financial Analysis, Operations Management, People Management, and Risk Management / Risk Control. Pay for this job rises steadily for more experienced workers, but goes down noticeably for employees with more than 20 years' experience.
Job Description for Financial Services Manager
A financial services manager is a senior team member who ensures that the financial services team's performance meets company expectations. First and foremost, this manager performs supervisory tasks such as monitoring workflow trends and scheduling shifts for financial services team members. The financial services manager also handles any conflicts between team members and ensure team cohesion.Read More...
To effectively manage the financial services team, the financial services manager must be an excellent sales representative and have an excellent understanding of this position's requirements. A significant portion of the financial services manager's time is spent interviewing applicants, hiring new employees, and providing training to the new hires. Aside from providing training to new team members, the financial services manager will provide ongoing guidance and training for all team members.
In addition to recruiting and training, the financial services manager works with quality assurance personnel to monitor team performance. In most financial service industries, there are metrics (such as number of clients served or daily sales) that financial services representatives are required to meet. The financial services manager monitors the performance of team members; they reward successful team members and provide additional training for team members who are not meeting the minimum metrics. This manager may need to terminate a team member who repeatedly fails to meet the minimum thresholds.
A bachelor's degree in accounting, business, or a related field is required for this position. Previous experience in financial services is needed as well, and previous managerial experience is preferred.
Financial Services Manager Tasks
- Prepare and submit budget and resource reports and statements, with an eye towards compliance.
- Perform ad hoc, non-routine financial analysis as needed.
- Manage client accounts and act as the subject matter expert for budgetary decisions.
- Refine and implement monthly, quarterly, and annual reports for designated groups.
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Pay by Experience Level for Financial Services Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
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based on 27 votes.