What Does a Financial Administrator Do?

A. Garrett
A. Garrett
Preparing financial reports may be part of a financial administrator's duties.
Preparing financial reports may be part of a financial administrator's duties.

A financial administrator oversees the fiscal activities of a business or government entity. Financial administrator duties vary based on the needs and structure of the organization that employs them. Most candidates seeking to attain a financial administrator job need at least a bachelor's degree or its equivalent; some employers also require an advanced degree and experience working in finance or accounting. An individual looking for a financial administrator job can expect to work long hours, but at a salary that exceeds the median average for most workers.

A financial administrator often works long hours.
A financial administrator often works long hours.

A typical financial administrator is tasked with managing the cash flow of the organization she works for. Creating a budget and allocating funds for various departments or investments are common duties performed by a financial administrator. Generating financial reports may also be required of financial administrators working for businesses. Financial administrators may also be expected to present budget reports on an organization's financial health to owners or directors. Some financial administrators may also handle the investing of excess capital and manage the associated risks.

Possessing a bachelor’s degree in economics, finance, accounting, or business administration is a common prerequisite to employment as a financial administrator. Some organizations may also require candidates to have a master's degree in finance, business administration, or economics. Certain business sectors that employ financial administrators, like banks, tend to promote financial administrators from within their own organizations and consequently place a high priority on the experience of a potential hire.

Financial administrators are expected to have knowledge of the accounting laws and practices of the state, region, or country where they are employed. Because accounting practices, laws, and stock markets are constantly changing, financial administrators usually enroll in continuing education courses that keep them abreast of such changes. The ability to adjust to changes in the economy is an important trait for most financial administrators to have.

Those in the financial administration field should also have the ability to generate budgets and create presentations using the preferred software of the organization that hires them. The same is true of any other technological innovations. An individual seeking a financial investor job should also be able to effectively communicate verbally and via written correspondence.

The job of a financial administrator is very demanding. Financial administrators play a significant role in the success of a business or government department. They must allocate funds in a manner that keeps the organization operating efficiently without exceeding budgetary restrictions. Finding investment vehicles that offer an adequate return and limited risk takes skill and time. Despite the arduous nature of the job, it can be very rewarding.

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    • Preparing financial reports may be part of a financial administrator's duties.
      By: Nataliia
      Preparing financial reports may be part of a financial administrator's duties.
    • A financial administrator often works long hours.
      By: V&P Photo Studio
      A financial administrator often works long hours.