Financial Administrator Career

Job Description: Direct financial activities, such as planning, procurement, and investments for all or part of an organization.

*A job as a Financial Administrator falls under the broader career category of Treasurers and Controllers. The information on this page will generally apply to all careers in this category. We are still seeking more specific information about this career from experts in this field. If you can provide us with more information, .

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Financial Administrator Career

What Financial Administrators do:

  • Analyze the financial details of past, present, and expected operations to identify development opportunities and areas where improvement is needed.
  • Coordinate and direct the financial planning, budgeting, procurement, or investment activities of all or part of an organization.
  • Develop internal control policies, guidelines, and procedures for activities such as budget administration, cash and credit management, and accounting.
  • Maintain current knowledge of organizational policies and procedures, federal and state policies and directives, and current accounting standards.
  • Monitor and evaluate the performance of accounting and other financial staff, recommending and implementing personnel actions, such as promotions and dismissals.
  • Monitor financial activities and details, such as cash flow and reserve levels, to ensure that all legal and regulatory requirements are met.
  • Prepare or direct preparation of financial statements, business activity reports, financial position forecasts, annual budgets, or reports required by regulatory agencies.
  • Supervise employees performing financial reporting, accounting, billing, collections, payroll, and budgeting duties.
  • Advise management on short-term and long-term financial objectives, policies, and actions.
  • Develop and maintain relationships with banking, insurance, and nonorganizational accounting personnel to facilitate financial activities.
  • Provide direction and assistance to other organizational units regarding accounting and budgeting policies and procedures and efficient control and utilization of financial resources.
  • Lead staff training and development in budgeting and financial management areas.
  • Delegate authority for the receipt, disbursement, banking, protection, and custody of funds, securities, and financial instruments.
  • Evaluate needs for procurement of funds and investment of surpluses and make appropriate recommendations.
  • Conduct or coordinate audits of company accounts and financial transactions to ensure compliance with state and federal requirements and statutes.
  • Receive, record, and authorize requests for disbursements in accordance with company policies and procedures.
  • Determine depreciation rates to apply to capitalized items and advise management on actions regarding the purchase, lease, or disposal of such items.
  • Receive cash and checks and make deposits.
  • Handle all aspects of employee insurance, benefits, and casualty programs, including monitoring changes in health insurance regulations and creating budgets for benefits and worker's compensation.
  • Perform tax planning work.
  • Prepare and file annual tax returns or prepare financial information so that outside accountants can complete tax returns.
  • Compute, withhold, and account for all payroll deductions.

What work activities are most important?

Importance Activities

Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.

Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.

Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.

Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

Monitoring and Controlling Resources - Monitoring and controlling resources and overseeing the spending of money.

Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.

Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.

Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.

Communicating with Persons Outside Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.

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.

Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.

Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.

Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.

Provide Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.

Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.

Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.

Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.

Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.

Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.

Monitor Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.

Staffing Organizational Units - Recruiting, interviewing, selecting, hiring, and promoting employees in an organization.

Judging the Qualities of Things, Services, or People - Assessing the value, importance, or quality of things or people.

Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.

Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

Estimating the Quantifiable Characteristics of Products, Events, or Information - Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.

Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.

Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.

Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.

Holland Code Chart for a Financial Administrator