Financial managers develop and implement financial policies, systems, and procedures, prepare or co-ordinate and evaluate the preparation of financial statements, budgets, summaries, analyses, simulations, and management reports, establish profitability standards for investment activities, handle mergers / acquisitions, notify / report to senior managers about trends affecting financial performance, and evaluate financial reporting, accounting, and investing systems as well as recommend changes to senior managers.

You usually need a university degree in business administration, commerce, economics or a related field. You may also need a master's degree in business administration (concentration in finance) or management. You may need a recognized accounting designation such as CGA (Certified General Accountant), CA (Chartered Accountant) or CMA (Certified Management Accountant). With several years' experience in accounting, auditing, budgeting, financial planning / analysis or another financial activity, you may move up the ranks to become a senior financial manager. Most recent entrants have an undergraduate university degree, and about 1 in 5 has a graduate degree.