FinOps Technical Product Manager

Last Updated:
March 22, 2024

Job Description Overview

A FinOps Technical Product Manager job description includes managing and improving financial operations within the Information Technology industry. They are responsible for developing and implementing strategies that optimize IT spending, ensuring efficient resource allocation and delivering cost-effective solutions.

Key duties of a FinOps Technical Product Manager include collaborating with cross-functional teams to identify opportunities for cost savings and process improvements in IT infrastructure, software, and services. They also analyze financial data to make data-driven decisions and track key performance indicators (KPIs) that support financial management goals.

In addition, these professionals oversee the planning, development, and execution of IT-related projects, ensuring they align with organizational objectives and industry best practices. They also monitor and evaluate the effectiveness of implemented FinOps strategies and recommend changes as needed.

To excel in this role, a FinOps Technical Product Manager must have strong analytical, problem-solving, and communication skills, as well as in-depth knowledge of IT systems and financial management principles. A bachelor's degree in finance, information technology, or a related field is typically required, along with relevant work experience.

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Job Duties and Responsibilities

  • Develop and manage financial processes for IT products to maximize efficiency and minimize costs
  • Collaborate with stakeholders to understand user needs and business goals to guide product decisions
  • Create and prioritize product roadmaps to align with company objectives and customer requirements
  • Analyze and optimize cloud resource usage to ensure cost-effective solutions for the IT department
  • Lead cross-functional teams in the development and implementation of financial operations (FinOps) policies and procedures
  • Research new technologies and identify opportunities to improve or upgrade existing product features
  • Monitor and evaluate product performance, providing actionable insights for improvement
  • Manage product release timelines, and communicate progress to stakeholders on a regular basis
  • Collaborate with engineering and development teams to address technical challenges and improve product performance
  • Train and mentor team members in FinOps concepts and best practices to foster a culture of continuous improvement

Experience and Education Requirements

A FinOps Technical Product Manager in the IT industry usually needs a bachelor's degree in a field like computer science, finance, or business. Some companies may prefer a master's degree or even an MBA. A strong background in both finance and technology is important. Experience in IT fields such as cloud computing, software development, or data analytics is common. Managers should also have hands-on work experience, usually around 5-8 years. This role often requires skills such as project management, teamwork, and communication. Industry certifications or training in FinOps, Agile, or related areas can be a big plus.

Salary Range

In the United States, a FinOps Technical Product Manager salary range typically falls between $89,000 and $145,000 per year with an average annual salary of around $112,000. This can vary depending on factors such as experience, location, and company size. In other countries, the salary expectations can differ. For example, in the United Kingdom, you might see a salary range of £60,000 to £90,000 per year, whereas in Canada, the range is approximately CAD 75,000 to CAD 120,000. Keep in mind that these figures are subject to change based on the job market and standard industry increases.

Sources:

  1. https://www.payscale.com/research/US/Job=TechnicalProduct%26ProgramManager/Salary
  2. https://www.glassdoor.co.uk/Salaries/london-product-manager-salary-SRCHIL.0,6IM1035_KO7,22.htm?countryRedirect=true
  3. https://www.glassdoor.ca/Salaries/toronto-product-manager-salary-SRCHIL.0,7IM976_KO8,23.htm?countryRedirect=true

Career Outlook

A FinOps Technical Product Manager in the IT industry has a promising career outlook over the next five years. This job will likely grow due to the increasing demand for finance and tech expertise. Companies need skilled professionals who can improve financial operations using technology. As businesses continue to adopt cloud computing and other innovative technologies, technical product managers become more crucial. A FinOps expert can help these firms become more cost-effective and efficient with their resources. Thus, a career as a FinOps Technical Product Manager should be rewarding and in high demand for the foreseeable future.

Sources:

  1. https://www.finops.org/about/
  2. https://productmanager-me.metriculator.com/stable_type/3

Frequently Asked Questions (FAQ)

Q: What does a FinOps Technical Product Manager do?

A: They oversee financial operations for IT products, manage budgets, optimize costs, and collaborate with teams to create efficient systems.

Q: What skills do they need?

A: They need financial management, IT product knowledge, planning, communication, and leadership skills.

Q: Is this job technical or managerial?

A: It's a mix of both, as it involves managing budgets and optimizing IT products.

Q: What's FinOps?

A: FinOps is short for "financial operations," focusing on the efficient management of IT resources and spending.

Q: Do they work independently or with a team?

A: They often collaborate with teams, including engineers and developers, to manage product finances efficiently.


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