Financial Management Specialist (National Guard)

Industry:
Public Sector
Last Updated:
July 18, 2023

Job Description Overview

Are you interested in being a Financial Management Specialist (National Guard)? As a professional in the Public Sector industry, you'll be responsible for the effective financial management of the National Guard. You'll coordinate and analyze the financial operations of the organization to ensure their compliance with federal and state regulations. Your role includes creating financial reports and providing guidance and recommendations to the leadership team. 

Your duties will also include monitoring budgets, tracking expenses, and providing financial forecasts to inform high-level decision-making. Additionally, you'll be responsible for monitoring contracts and purchases to ensure they align with the organization's mission and goals. Your expertise in financial management will be critical in helping the National Guard achieve its goals and fulfill its responsibilities.

To be successful in this role, you must have excellent analytical skills, attention to detail, and strong ethical standards. You must also be able to communicate effectively and work well in a team environment. If you're looking for a challenging role where you can make a meaningful impact, consider a career as a Financial Management Specialist (National Guard).

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Job Duties and Responsibilities

  • Creating budget plans and analyzing financial reports 
  • Managing payrolls and ensuring compliance with regulations 
  • Generating accurate financial statements and tax documents 
  • Monitoring financial transactions and identifying discrepancies 
  • Advising senior officers and commanders on financial matters 
  • Conducting risk assessments and developing financial contingency plans 
  • Collaborating with other departments to optimize financial performance 
  • Providing financial education and training to other soldiers 
  • Maintaining records and preparing reports for audits 
  • Assisting with procurement activities and contract negotiations.

Experience and Education Requirements

To get a job as a Financial Management Specialist in the National Guard, you need a mix of education and experience. Generally, a Bachelor's degree in finance, accounting, or business administration will do the trick. However, some positions may require a Master's degree or professional certification like the Certified Public Accountant (CPA). On the experience front, employers typically look for individuals who have worked in financial analysis, budgeting, or accounting, preferably in the public sector. Additionally, military experience is a plus, as Financial Management Specialists in the National Guard work to manage resources and maintain fiscal discipline in the armed forces.

Salary Range

The expected salary range for a Financial Management Specialist (National Guard) varies based on location, experience, and education level. According to Glassdoor, the average salary for this position in the United States is around $61,000 to $86,000 per year. However, in states like California and New York, the range can be higher, reaching up to $101,000 per year. In the United Kingdom, a similar position pays an average of £38,000 ($52,000) per year. In Canada, the average is around CAD$72,000 ($57,000) per year. Keep in mind that these figures are estimates and can vary based on factors such as the employer, job responsibilities, and level of education or experience.

Sources:

https://www.glassdoor.com/Salaries/financial-management-specialist-salary-SRCH_KO0,33.htm

https://www.payscale.com/research/US/Job=FinancialManagementSpecialist/Salary

https://www.totaljobs.com/salary-checker/average-financial-management-specialist-salary

Career Outlook

Being a Financial Management Specialist (National Guard) in the Public Sector industry is a great career choice. According to the Bureau of Labor Statistics, financial management jobs overall are projected to grow 15% from 2019 to 2029. This is well above the average for all occupations. As for the National Guard specifically, there is a growing demand for financial professionals who can manage the organization's resources effectively. This means opportunities for specialists who can handle accounting, budgeting, and finance-related tasks will likely increase in the next five years. Additionally, the National Guard offers competitive salaries and benefits, as well as opportunities for personal and professional growth through education and training programs.

Frequently Asked Questions (FAQ)

Q: What does a Financial Management Specialist in the National Guard do?

A: A Financial Management Specialist in the National Guard is responsible for handling and managing the financial operations of the unit or organization they serve in.

Q: What qualifications are needed for a Financial Management Specialist in the National Guard job?

A: Basic qualifications for this job include being at least 17 years old, completing Basic Combat Training and Advanced Individual Training, and passing a background check. In addition, a degree in finance or accounting is beneficial.

Q: What are the key responsibilities of a Financial Management Specialist in the National Guard?

A: Key responsibilities of a Financial Management Specialist in the National Guard include reconciling bank statements, preparing budgets, processing payroll and travel payments, and monitoring compliance with financial regulations.

Q: What are the working conditions for a Financial Management Specialist job in the National Guard?

A: As a part-time job in the National Guard, Financial Management Specialists work during their scheduled monthly drills and annual training periods. They may also have the opportunity to be activated for state or federal emergencies.

Q: How can I become a Financial Management Specialist in the National Guard?

A: If you are interested in becoming a Financial Management Specialist in the National Guard, you should contact a recruiter for more information. They can guide you through the process of joining and help you identify openings in your area.


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