The right financial operations manager can transform your finance function from a cost center into a strategic driver of business value and growth.
This article explores what financial operations managers do, what skills they need, and how much they make, outlining how the role can enhance your organization's financial performance and operational efficiency.
*Data is based on publicly available information on Glassdoor for all listed businesses and is not a reflection, nor a guarantee of, salary ranges at BILL.
What does a financial operations manager do?
A financial operations manager serves as the architect of an organization's financial processes, bridging the gap between strategic financial planning and day-to-day execution. They oversee everything from paying bills and collecting payments to creating financial reports and setting up systems that help catch mistakes before they happen.
By keeping the company's financial engine running smoothly, these professionals play a key role in transforming financial operations from a necessary overhead into a strategic driver of financial health.
They look for ways to make processes faster and more accurate, often by bringing in new technology that can handle routine tasks automatically. This frees up the finance team to focus on more important work that helps the business grow.
Financial manager vs financial operations manager
These roles might sound similar, but they focus on different things. Financial managers typically concentrate on high-level planning, the strategic use of capital, and financial analysis—things like where to invest the company's money and how to fund major projects.
Financial operations managers, on the other hand, focus on optimizing day-to-day financial processes. They're the ones who make sure bills get paid on time, money gets collected, and financial records stay accurate. They're always looking for ways to improve these processes with stronger internal controls, more efficient workflows, and better financial visibility for the strategic planning team.
Roles and responsibilities of a financial operations manager
Financial operations managers oversee the essential machinery of an organization's financial activities while continually seeking ways to improve them. Their role combines the responsibility for smooth daily operations with strategic improvements to help the organization scale efficiently.
Process optimization and automation
At the heart of the financial operations manager's role lies the ongoing mission to make financial processes faster and more effective. They examine current workflows to find bottlenecks and inefficiencies, then develop practical solutions that streamline operations while maintaining accuracy, security, and control.
This often involves evaluating and implementing automation tools that can handle routine tasks with less manual effort. The goal is to create processes that can handle more work without requiring proportional increases in staff—making the finance team more productive while reducing the chance of errors.
Team management and development
Financial operations managers build and lead the teams responsible for key financial processes like accounts payable and accounts receivable. Beyond hiring and training staff, they create clear paths for career growth that help retain valuable team members.
They focus on developing both technical skills and problem-solving abilities within their teams. When team members understand not just how to do their jobs but why processes work the way they do, they become better at spotting opportunities for improvement.
Financial controls and compliance
Another key responsibility involves setting up and maintaining systems that protect the organization's financial assets. Financial operations managers design control systems that prevent errors and fraud while maintaining accurate financial records.
They stay current with changing regulations and industry standards, updating procedures as needed and ensuring compliance. This includes documenting how things should be done, conducting regular checks, and working with auditors to verify that controls are working effectively.
Vendor and stakeholder relationships
Success in financial operations requires strong partnerships with various service providers and internal teams. Financial operations managers select and manage relationships with key vendors like banks and payment processors, ensuring they deliver the support needed for efficient operations.
They also collaborate closely with other departments to understand their needs, making sure the company's financial processes help rather than hinder their efforts. This might mean partnering with IT on system implementations, helping business units plan and manage their budgets more effectively, or keeping leadership informed about key operational metrics.
Reporting and analytics
Modern financial operations managers use data strategically to drive improvements. They develop clear metrics and reports that show how well the finance and accounting team is operating, helping identify trends and opportunities for enhancement.
This analytical approach helps anticipate and prevent potential issues before they become problems. By converting operational data into actionable insights, they help organizations make informed decisions about process improvements and resource allocation.
How to become a financial operations manager
The path to becoming a financial operations manager combines formal education with practical experience in financial operations. Success requires developing both technical expertise and leadership capabilities, along with a thorough understanding of how financial processes support business objectives.
Finance operations manager skills and qualifications
Most positions require a bachelor's degree in finance, accounting, or a related field, with some employers preferring candidates who have advanced degrees or professional certifications, like a CPA or MBA.
Key technical skills include:
- Strong expertise in financial systems and spreadsheets
- Experience improving processes and workflows
- Knowledge of automation and technology implementation
- Understanding of accounting principles and controls
- Familiarity with relevant regulations and compliance requirements
Essential leadership skills include:
- Relationship-building and verbal communication skills
- Team leadership and development
- Project management capabilities
- Strong problem-solving abilities
- Experience managing organizational change
How much do financial operations managers make?
According to Glassdoor, financial operations managers typically earn total compensation that ranges from $119,000 to $196,000 per year, with a median total compensation of approximately $152,000. This total package usually consists of an average base salary between $89,000 and $140,000, plus additional compensation that may include bonuses, profit sharing, and other incentives.
Several factors can influence compensation, including:
- Company size and industry
- Years of experience
- Geographic location
- Education and certifications
- Scope of responsibility
The career outlook remains strong as organizations increasingly focus on optimizing financial operations through process improvement and automation. This growing emphasis on operational excellence and digital transformation continues to drive demand for skilled finance operations managers.
How financial operations managers can leverage automation to help their roles
Modern automation solutions like BILL can significantly enhance a financial operations manager's effectiveness. These platforms handle routine tasks automatically while improving internal controls and security.
BILL's automation helps financial operations managers:
- Streamline approval workflows and payment processing
- Maintain clear documentation and audit trails
- Get real-time visibility into financial operations
- Scale processes efficiently as the business grows
- Strengthen controls that prevent errors and fraud
By implementing intelligent automation, financial operations managers can reduce manual work while improving accuracy. This makes the finance team more efficient, creating capacity for strategic initiatives that drive business value.
