A finance coordinator is responsible for accurately maintaining the financial records of an organization. These professionals can find work in nearly every industry, as companies of all types require a skilled professional to manage their finances. Under the direction of a financial manager, the financial coordinator is tasked with a wide variety of activities to support the fiscal well-being of the organization.
Required Skills and Education
To become a finance coordinator, one must be incredibly organized and detail-oriented. The ability to multi-task, provide excellent customer service, discretely handle sensitive information, prioritize and be a team player is a must. Companies typically require this professional to be proficient in Microsoft Office and a variety of other software systems, such as QuickBooks. A working knowledge of general payroll, financial and tax regulations is generally preferred. Education requirements vary, as some companies require a candidate to have a bachelor’s degree in business or a related field, while others only expect a high school diploma or equivalent with experience.
The financial coordinator assists in a variety of financial projects and activities. Specific responsibilities vary by position, but they often include financial audit and analysis, creating budgets, organizing financial committees, processing invoices, monitoring accounts receivable and reporting. A financial coordinator may also participate in special projects such as Requests for Proposals (RFPs) and grant proposals.
A person holding this job typically works in a standard office environment. While occasional overtime may be needed, the financial coordinator will not usually be expected to work any nights, weekends or holidays.
Opportunities for Advancement
A financial coordinator with a minimum of five years of experience may have the necessary qualifications to advance into a financial manager role. While not typically required, having a master’s degree in business administration, finance or economics may give professionals a competitive advantage. Employers also highly regard professional certifications, such as the Chartered Financial Analyst and the Certified Treasury Professional credential.
2016 Salary Information for Financial Managers
Financial managers earned a median annual salary of $121,750 in 2016, according to the U.S. Bureau of Labor Statistics. On the low end, financial managers earned a 25th percentile salary of $87,530, meaning 75 percent earned more than this amount. The 75th percentile salary is $168,790, meaning 25 percent earn more. In 2016, 580,400 people were employed in the U.S. as financial managers.