FinOps Financial Performance Manager

Last Updated:
September 19, 2023

Job Description Overview

A FinOps Financial Performance Manager job description includes managing the financial operations within an Information Technology (IT) organization. Their primary role is to develop strategies for optimizing financial performance while ensuring IT resources are efficiently utilized. They collaborate with other departments to identify financial opportunities, implement cost control measures, and improve overall business profitability.

FinOps Financial Performance Managers analyze financial data, monitor budgets, and evaluate the financial impact of new technologies or processes. They also forecast revenue and expenses, ensuring the organization stays on track to meet its financial goals. Additionally, they implement best practices in financial management and play a crucial role in making informed IT investment decisions.

To excel in this role, a FinOps Financial Performance Manager must possess strong analytical skills, an understanding of IT infrastructure, and the ability to communicate complex financial concepts to non-financial team members. Ultimately, their contribution helps drive the financial success of an IT company while maintaining a focus on cost efficiency and operational excellence.

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Job Duties and Responsibilities

  • Oversee financial operations, including tracking expenses, creating budgets, and generating financial reports.
  • Analyze financial data to identify trends, opportunities, and areas where improvements can be made.
  • Work closely with business leaders to develop strategies to support IT projects and company growth.
  • Monitor financial performance and KPIs to ensure the business is maximizing efficiency and achieving goals.
  • Optimize resource allocation, including staffing and IT expenses, to balance cost and quality needs.
  • Evaluate the financial impact of new technology of IT initiatives, making recommendations to improve performance and ROI.
  • Manage financial risk by developing plans to address potential challenges, such as unexpected fluctuations in costs or revenue.
  • Collaborate with other departments, such as accounting and project management, to ensure smooth financial operations and accurate reporting.
  • Promote a culture of cost awareness and ownership within the IT team, fostering improved financial performance overall.
  • Continuously update financial knowledge and skills to stay current with industry trends and best practices.

Experience and Education Requirements

To become a FinOps Financial Performance Manager in the Information Technology industry, you typically need a bachelor's degree, preferably in finance, accounting, or a related field. Some companies may also accept a business administration degree. In addition to formal education, you should have previous experience (around 5-7 years) in a finance or accounting role within the IT industry, demonstrating your knowledge and skills in FinOps practices.

Additionally, obtaining certifications like the Certified FinOps Professional or a similar credential can enhance your qualifications. Strong analytical, communication, and interpersonal skills are vital to succeed in this role.

Salary Range

The FinOps Financial Performance Manager salary range in the Information Technology industry varies depending on experience and location. In the United States, the average salary for this role is about $105,000 per year. With added experience and skills, some professionals can earn over $140,000 annually, while entry-level positions start around $75,000. In comparison, the salary range in the United Kingdom falls between £40,000 and £70,000, while in Australia, professionals can expect to earn between AUD 80,000 and AUD 150,000. Overall, the FinOps Financial Performance Manager salary range in the Information Technology industry presents competitive and rewarding prospects for a fulfilling career.

Sources:

  1. https://www.glassdoor.com/Salaries/financial-performance-manager-salary-SRCH_KO0,28.htm
  2. https://www.payscale.com/research/UK/Job=Finance_Manager/Salary
  3. https://www.payscale.com/research/AU/Job=Finance_Manager/Salary

Career Outlook

The career outlook for a FinOps Financial Performance Manager in the IT industry looks promising over the next five years. This role focuses on improving the financial results of IT companies. As cloud computing and digital transformation become more important, businesses need help managing their finances efficiently. That's where FinOps managers come in. They help companies save money and make better financial decisions in the tech world.

This career is expected to grow as more companies move to the cloud and need help managing their tech expenses. If you're considering a career as a FinOps Financial Performance Manager, now is a great time to jump in.

Sources:

  1. https://www2.deloitte.com/content/dam/Deloitte/be/Documents/about-deloitte/be-careers%20pdfs/Folks2021FSPerformanceManagementandFinOpsManagement.pdf

  1. https://www.finops.org/
  2. https://www.finopsinfo.com/

Frequently Asked Questions (FAQ)

Q: What does a FinOps Financial Performance Manager do?

A: They manage financial operations, analyze performance, and optimize costs in the IT industry.

Q: What skills are required for this job?

A: Strong financial background, IT knowledge, communication, and data analysis skills are needed.

Q: Are specific certifications required?

A: Certifications like CMA or CPA can be helpful, but not always required.

Q: What is the usual work environment?

A: They typically work in office settings with IT teams and finance departments.

Q: Is this a leadership role?

A: Yes, they often oversee financial teams and collaborate with senior management.


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