What are the duties of an account manager?

account manager

The term account manager may relate to managing customer accounts in large companies, and it is a general term. The client account manager works in various fields, and here it can be said that the account manager is the person who performs a variety of tasks. To manage the relationship between the employer and customers, it also helps develop various businesses that aim to attract new customers, and manages various fields, such as financial services, sales, and media matters, and it also helps in the field of technology as well. He is an important member of the marketing and sales team, and his role is not limited to selling customers as a sales employee, but rather goes beyond that to forming a relationship with the customer, and forming the point of contact between the customer, his employers or the company. This is to ensure the provision of high-quality services and meet customer requirements.

The financial accounts manager is called (Accounting Manager), and whatever his name is in English, he can be defined as the person who applies and develops the system that is interested in studying the financial conditions of the company, collects financial information, studies it, and analyzes it accurately. Then he prepares reports to the responsible authorities, and reports any defect that may occur in relation to financial matters. The scope of his work also includes managing financial matters related to employees, such as recruitment and training, all with the aim of determining the financial situation. It also supports management in terms of decisions related to operation, and the work of the financial director, or financial accounts manager, can be summarized as being the official or treasurer of the company in which he works. It aims to achieve the maximum return for the company from investing its funds, while trying to reduce the risks to which it may be exposed to the minimum possible. It also ensures that there is control over the transfer and investment of funds. In this article, we will discuss the duties of the financial accounts manager.

Account manager duties

The duties of the accounts manager, or financial manager, may differ from one company to another. In large companies, his role includes strategic analysis, while in small companies, his role may be limited to collection and preparation. The following are the most important tasks of the account manager in various fields:

Public Administration

• Analyzing any changes that may occur to the company, and any financial matters related to it, and providing advice to the management team.
• Monitoring the factors that would affect the company’s performance of its work and achieving its goals.
• Developing strategies and long-term business plans.
• Developing external relations with the necessary contacts, such as auditors, lawyers, and those who work in banks and legal institutions.
• Developing financial management methods that will reduce the financial risks to which the company may be exposed.
• Managing the company's accounting systems, in addition to financial monitoring and reporting systems.
• Supervising employees.
• Managing tasks related to outsourcing.
• Supervising the treasury’s administrative operations, which includes designing the organizational structure necessary to achieve management objectives.
• Maintaining a documented system of various procedures, financial and accounting policies.

Money management

• Collecting and interpreting financial information.
• Analyzing financial returns and forecasting any future financial matters that may happen to the company.
• Communicate with the company’s auditors constantly; To ensure the implementation of annual monitoring.
• Keeping up with developments and changes that may occur in legislation and financial systems.
• Managing the company's budget.
• Predicting whether the company will need a specific loan, and knowing the amount of funds available to implement any investment.
• Maintaining the company’s relationships with various banks.
• Invest money in the best way.
• Ensuring that the available funds are sufficient to meet the needs of any operational or capital investment undertaken by the company.
• Determine the sound capital structure of the company.
• Trying to increase capital and pay off the company's debts, if any.
• Take the necessary precautions; To mitigate any financial risks related to interest rates on the company’s loans and foreign exchange sites.
• Distribute profits appropriately based on historical distribution patterns and expected fund flows.

The company's budget

• Managing the company's budget preparation process.
• Reporting any discrepancies in the approved budget, and the reasons leading to such discrepancies.
• Cooperating with management in formulating its general strategic directions.

Financial analysis

• Carrying out reviews, analyses, and opportunity assessments; To reduce the costs incurred by the company.
• Identify competitors, analyze their ways of competing, identify market trends, and provide reports on key financial issues to management.
• Issuing accurate financial reports on time.
• Providing new sources of financing; To reduce the company's debts.
• Participate in benchmarking studies, which will identify areas of potential operational improvement.
• Participate in activities necessary to determine cost; With the aim of creating products that match the price targets that were previously determined.
• Participate in setting product prices based on their features and competitors’ prices.
• Reviewing the issues that contribute to the company’s suffocation and decline, and coming up with recommendations that contribute to improving its level.
• Analyze any financial results of the company, and inform management of them.
• Managing the capital budgeting process based on constraint analysis and discounted cash flows.
• Trying to issue additional financial and analytical reports as requested by the company.
• Preparing reports on the main financial activities.

Account manager skills

As for the skills that an account manager must have, they are as follows:

• Commercial awareness.
• Analytical abilities for various work matters.
• Communication and communications skills.
• High mathematical and technical skills.
• Initiative and perseverance.
• The ability to solve problems.
• The ability to manage time and set priorities at work.
• The ability to work within a team and build strong relationships within work.
• Leadership skills and motivating others.
• Possessing the necessary technological skills and strong knowledge of electronic spreadsheets.
• The ability to make quick and sound decisions.
• The ability to negotiate and influence others.
• Accuracy and attention to detail.