Financial managers deal primarily with the finances of a company, making decisions regarding the company's money and monetary transactions. The financial manager's other duties depend on whether he is a cash manager, a risk and insurance manager, a branch manager, a credit manager, a treasury and financial officer, a controller or a CFO (chief financial officer).

Cash Managers

A cash manager is in charge of cash receipts and disbursements. He ensures the accuracy of cash receipts and oversees cash transactions. If the company is low on cash, he may ask for a loan. If the company has a surplus of cash, he may invest the cash funds elsewhere.

Risk and Insurance Managers

Risk and insurance managers have the same goal -- to minimize the company's risk; but the two managers use different methods by which to achieve this goal. Risk managers are in charge of minimizing the company's risk to factors that are a threat to their ability to operate, such as natural disasters. A risk manager must also use methods to help the company benefit, or remain unaffected, by changes in the prices of other currencies or commodities. On the other hand, insurance managers purchase insurance policies for the company to minimize the company's risks against threats such as lawsuits.

Branch Managers

Branch managers oversee the operations of a branch office. This includes hiring employees, approving loans or credit lines, assisting customers or developing a relationship with members of the community to help increase business. Branch managers also attend meetings with other company executives to discuss current and future financial objectives.

Credit Managers

Credit managers establish credit standards for the company. This includes deciding who the company will issue credit to, developing the company's credit rating criteria, determining the maximum amount of credit a given individual or company may receive and deciding the method by which the company will collect a past due account.

Treasury and Finance Officers

Treasury and financial officers manage the company's budget and make adjustments to the budget as needed. These managers are also in charge of matters such as investment funds and fund raising. If a company expands or merges with another company, a treasury or finance officer will coordinate the expansion or merger.

Controllers

The controller is usually in charge of the accounting department, the budget department and the audit department. The controller oversees the accurate completion of accounting statements. At times he is required to prepare statements that outline the company's financial situation for a government or regulatory authority.

Chief Financial Officers

The chief financial officer is a top executive, and he is the highest level financial manager. He is held responsible for the all of the financial reporting within the company, so he must ensure its accuracy. CFOs and other top executives are among the highest paid workers in the United States, reports the U.S. Bureau of Labor Statistics.