Career As Financial Manager

Financial Managers

Introduction

India is facing a tremendous change at the economic front. The transition from a controlled economy to a more liberalized one has proved to be a great success in all spheres. The field of corporate finance and control has recently witnessed some important developments. There has been an emergence of an elaborate network of financial institutions and services, phenomenal growth in the operations of the financial markets and sophistication in the sphere of financial management and control. These developments have created the need for professional trained manpower of financial and management executives. Financial planning and decision making is crucial to every business enterprise private or public.

Nature of Work

Financial institutions have a financial head or president, departmental heads or vice presidents, financial controllers who handle funds, properties and equipment, treasurers, loan officers and there are officers in charge of trust, credit, investment departments. Financial president is the overall incharge of all financial business in the organisation to be carried on within rules and legal regulations. Policies for financial activities are set by him. Coordination between financial divisions and delegation of responsibilities is his responsibility. He studies financial reports, economic policies etc. Vice president is in charge of the institutional operations. They supervise the activities of the institutional branch office, monitoring the trade, customer service, investment and other divisions.

Financial controllers supervise maintenance of accounts and records. They control the use of funds kept by the treasurer and formulate financial policies.

Financial institution manager are responsible for maintaining relationship with the community. They supervise accounting and reporting funtions. They approve credit and commercial consumer and real estate loans and holds all assets, securities and records of the financial institutions.

Loan and credit managers handle customer loans and credits. They examine and evaluate applications for loan. They also negotiate the terms of the contract.

Employment Prospects

Multinational financial firms and foreign banks like City bank, ANZ Grindlays, Standard Chartered recruit finance executives. National development institutions like ICICI, IDBI, SCICI and their affiliates like HDFC, CRISIL regulatory authorities like the Reserve Bank of India also employ qualified finance personnel. Financial executives work in financial Institutions such as LIC, General Insurance Corporation, Unit Trust of India, Export and Import Bank (EXIM), Nationalised Banks, State Financial Corporation of India (IFCI) etc.

Study

MBA courses offer specialisation in finance .You may opt for Masters Course in finance control, Chartered accountancy, graduate and post graduate diploma courses in the subject.

Courses (Accounts/Finance)

Name of University	Course	Eligibility
University of Burdwan, P.O. Rajbati, Distt. Burdwan 713104	B.A. in Accounts B.A. in Finance 10+2	10+2 10+2
Utkal University Vani Vihar, Bhubaneswar - 751 004, Orissa	Accountancy	Graduation
Agra University Agra - 282 004, UP	1 yr Diploma in Accountancy	Graduation
Banaras Hindu University Varanasi 221005, Uttar Pradesh	1 yr Diploma Financial Management	Graduation
Aligarh Muslim University Aligarh 202002, UP	MFC 2 years	Graduation with 50% marks BE/B.Tech. 60%
University of Delhi Delhi - 110 00	Master of Finance Control (MFC) Bachelor of Financial & Investment Analysis	Graduation with 50%/CA ICWA/ICSI with 50% and entrance test 60% in +2 and entrance test
Indian Institute of Finance, 4, Community Centre, Ashok Vihar II, New Delhi - 110 052	- Diploma in business finance - Basic Business Finance 1yr - Management of Business Finance 2 yrs	2 yrs post graduate Non-financial executives, self-employed persons, enterpreneurs, bank and insurance executives, government officers, defence personnel, teachers and others without a formal professional or academic qualification in finance are eligible.
IGNOU Maidan Garhi , New Delhi 110 068	1 yr Diploma Financial Management	3 year experience or Masters degree
Maharashi Dayanand University Rohtak 124001, Haryana	1 yr. Diploma in Accounting	Graduation
Himachal Pradesh University Summer Hill, Shimla 171005	MFC 2 years	Graduation with 50% marks
University of Ajmer Ajmer - 305 001, Rajasthan	1 yr Diploma in Cost and Work Accountancy	B.Com (the course is for 3 yrs for other graduates)
University of Jodhpur Jodhpur 342 001, Rajasthan	3 yrs. Diploma in Cost and Works Accountancy	10+2
University of Rajasthan Jaipur 302004, Rajasthan	3 yrs. Financial Mgt.and Cost Analysis.	Graduation
Gujarat University Navrangpura, Ahmedabad 380009, Gujarat	6 months Cert. in Financial Management
Maharaja Sayaji Rao University Vadodara 392002, Gujarat	1 yr Diploma in Accountancy
University of Bombay, MG Road, Fort, Mumbai 400032, Maharashtra Marathwada University , Aurangabad, 431004, Maharashtra	B.A. in Book keeping & Accountancy B.A. in Financial Management and Cost Analysis B.A. with Book keeping and Accountancy as one of the subject	10+2 10+2 10+2
University of Bombay MG Road, Fort, Bombay, 400032, Maharashtra	MFM 1 yr Diploma in Managerial Accounting 1 yr diploma in Financial Management Operation	Graduate with 5 yrs of executive (non-clerical) experience in any of related areas of Finance, and Accounting, Eco. Project & Corporate Planning.
Amravati University, Near Tapowan, Amravati 444602	1 yr Diploma in Financial Management	Graduation
Nagpur University Near Maharaj Bagh, MG Marg, Nagpur 440001 Maharashtra	1 yr Diploma in Accountancy	Graduation
Goa University PO. Santa Cruz, Taleigao Plateau, 403002, Goa	B.A. with Book-keeping and Accountancy as one of the subject B.Com with Accounting and Financial Management .	10+2
Sri Venkateswara University Tirupati - 517 502, Chittoor Distt.	B.A. with Accounts as one of the subject	10+2
Andhra Pradesh University 6-3-645 Samajiguda, Hyderabad, 500482	Open 1 yr Diploma in Accounting	Graduation
Osmania University Administrative Bldg, Hyderabad, 500007	Public Accounting	Graduation with 50%
Institute of Chartered Road No. 3, Banjara Hills, Hyderabad 500034 Andhra Pradesh	Diploma in Business Finance	Non financial executives, self-employed persons,(Correspondence) enterpreneuers bank andinsurance executives,government officers, defence personnel, teachers and others without a formal professional or academic qualification in finance are eligible
Kamraj University Palkalai Nagar, Madurai 625021, TN	B.A. with Accountancy as one of the Ancillary subjects. MFC 2 years	10+2, Age 15 1/2 years on July 15 Graduation with 50%
University of Madras Centenary Buildings, Chepauk, Madras 600005, TN	1 yr. Diploma in Financial Management	Graduation
ICFAI Banjara Hills, Hyderabad	1year Diploma in Business Finance (opportunity for progression to a CFA programme)	For working executives, computer professionals, engineers

ICWAI also offers post membership course in mangement accounting,Advanced Management Techniques,Industrial Relations and Personnel management, Market Organisation and Methods and Economic Planning & Development. Members are required to write a thesis and pass a viva before graduating as management accountants.