FinOps Financial Change Manager

Last Updated:
September 19, 2023

Job Description Overview

A FinOps Financial Change Manager is a crucial professional in the Information Technology industry. This role primarily focuses on improving financial operations and driving business efficiency as part of the "FinOps Financial Change Manager job description." They work with cross-functional teams to analyze, optimize, and manage an organization's financial data, processes, and systems.

Key responsibilities include identifying cost-saving opportunities, setting and tracking financial goals, and implementing necessary improvements in financial processes. Tapping into their extensive knowledge of IT infrastructure and cloud technologies, they assess and recommend strategies to optimize financial performance and meet business objectives.

Effective communication and collaboration in this role are essential, as the FinOps Financial Change Manager liaises with stakeholders, provides reports on financial performance, and works closely with IT and finance teams to ensure smooth operations. Strong analytical, problem-solving, and multitasking skills are also vital for success in this dynamic and essential position.

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Job Duties and Responsibilities

  • Overseeing financial aspects of IT projects, including budgeting, tracking expenses, and adjusting as needed
  • Evaluating and implementing cost-saving measures to improve the company's financial efficiency in IT operations
  • Managing financial risk by identifying potential issues and developing strategies to address them
  • Collaborating with IT and finance departments to develop, implement, and review financial plans and goals
  • Ensuring accurate and timely financial reporting on project progress, costs, and benefits
  • Monitoring the IT industry for changes and trends that could affect the company's financial performance
  • Implementing change management processes related to financial adjustments and new IT systems
  • Training and supporting team members in understanding and adopting financial best practices
  • Analyzing the effectiveness of implemented financial changes and making recommendations for improvements
  • Assisting with financial audits and ensuring compliance with relevant regulations and policies

Experience and Education Requirements

A FinOps Financial Change Manager usually needs a bachelor's degree in finance, business, or information technology. Additionally, they should have at least five years of experience in financial operations or project management. Knowledge of IT processes, systems, and software is essential. Experience in budgeting, cost control, and working with cross-functional teams is also important. Strong communication, leadership, and problem-solving skills will help them excel in this role. Some jobs may require certifications such as Project Management Professional (PMP) or Certified FinOps Practitioner. Overall, a mix of education and industry experience is key to landing a job in this field.

Salary Range

The FinOps Financial Change Manager salary range varies based on factors like experience, company size, and location. In the United States, the average annual salary falls between $90,000 and $135,000. Highly experienced professionals in major cities can command even higher salaries, sometimes exceeding $150,000 per year. Internationally, examples of salary ranges can include the United Kingdom, with average salaries between £60,000 and £80,000, and Canada, with a typical range of CAD 85,000 to CAD 125,000. It's important to research these factors and regional standards to estimate an appropriate salary for a specific role.

Sources:

  1. https://www.glassdoor.com/Salaries/financial-change-manager-salary-SRCH_KO0,22.htm
  2. https://www.payscale.com/research/UK/Job=Finance-Change-Manager/Salary
  3. https://www.payscale.com/research/CA/Job=Finance-Change-Manager/Salary

Career Outlook

The career outlook for a FinOps Financial Change Manager is promising in the next 5 years. The Information Technology industry is growing rapidly. Companies need experts to manage financial changes in this area. These managers help businesses adapt to new technology while saving money. Their job is to blend finance and IT skills. They are in high demand, especially in the finance and banking sectors. Job opportunities will continue to rise. This role offers a chance for stable employment and a rewarding career. With steady growth expected in the IT industry, FinOps Financial Change Managers have a bright future.

Sources:

  1. https://www.techrepublic.com/article/finops-the-emerging-it-role-with-a-foot-in-finance-and-one-in-technology
  2. https://www.gartner.com/en/information-technology/glossary/financial-management-for-it

Frequently Asked Questions (FAQ)

Q: What does a FinOps Financial Change Manager do?

A: They coordinate financial changes, manage budgets, and oversee the financial aspects of IT projects to ensure efficiency and cost-effectiveness.

Q: What industries need FinOps Financial Change Managers?

A: They're mainly needed in technology-related industries, like software development companies, IT service providers, and telecommunications firms.

Q: What kind of education do FinOps Financial Change Managers typically have?

A: They usually hold a bachelor's degree in finance, accounting, business, or a related field, and sometimes have additional certifications.

Q: What skills are important for a FinOps Financial Change Manager?

A: Strong analytical, communication, and leadership skills, plus knowledge of IT systems and financial management.

Q: Do FinOps Financial Change Managers work with teams?

A: Yes, they collaborate with finance, IT, and other teams to ensure successful financial outcomes for projects.


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