what is a change manager in finance?
Every business needs to adapt to survive. Sometimes, they make changes to jump ahead of trends. Other times, they roll out changes in slow increments or make plans to address emergencies, such as a recession. The change manager in finance plans ahead and works with colleagues to create a seamless transition.
Change management steps include:
- creating a plan
- evaluating potential results
- communicating with employees
- developing a training program
- monitoring progress
As the change manager in finance, you facilitate this process. You create training programs that meet employees at their skill level. Alongside in-person courses and online modules, you offer personalized assistance so that colleagues know what to expect every step of the way. Monitoring the schedule and budget ensures that the project stays on track.
If you hit a roadblock, you quickly find a solution with your problem-solving skills. Sometimes, you'll have to make last-minute adjustments or adapt to a new situation. Your colleagues count on your level-headed leadership to continue their progress and move to the next phase.
A change manager in finance possesses strong communication and collaborative skills. Having a strong financial background reduces your training period, allowing you to jump in.
Would working as a change manager in finance suit your problem-solving skills? Then read on to find out what competencies and qualifications you need to thrive in a change manager in a finance role.
view jobs near youaverage change manager in finance salary
The average finance change manager salary is $58,429. In-demand change managers can make twice as much with salaries reaching $132,623 or more. Additionally, certain cities with a higher cost of living offer higher wages.
Both experience and education can increase your value to a company. This can come in the form of a master's degree or certification.
Benefits packages may include paid leave, life insurance, health insurance, stock options, childcare reimbursement, and a pension plan. Always consider your benefits before accepting a job offer. Higher salaries aren't always superior--positions with lower salaries can have better benefits, such as more vacation time.
Wondering what you can earn as a change manager in finance? Find out immediately with the Randstad salary checker! You can quickly and easily see what the average salary of a change manager in finance is.
types of change managers in finance
Finance change managers specialize in different areas. Events that require a change manager could involve taxes, payroll, bookkeeping, data entry, cash flow, financial reporting, forecasting, or risk mitigation. Possible updates include new technology, department restructuring, or tax filing adjustments.
For example, a company could introduce new accounting software that takes employees out of their comfort zone. With your accounting and technology knowledge, you make a specific plan and guide employees through training. They quickly resume their work, and the new technology improves their efficiency.
working as a change manager in finance
As a change manager in finance, you’ll lead your company into the future. Learn more about your responsibilities and expectations.
-
change manager in finance job description
What does a change manager in finance do? Change is a natural part of a company's lifespan. If you've undergone transitions at work, such as a new CEO or floor layout restructure, you know the difference between smooth and rocky adjustments. Finance change managers ask themselves how to simplify the process.
Questions you might ask include:
- what worked and what went wrong during the last transition?
- what could previous managers have done?
- which learning styles are best for this team?
- what do employees want from the transition?
- what are the CEO's goals?
- how long should this transition take?
- which tools do employees need to succeed?
Once you've figured out your goals, you'll develop an action plan. After determining the specifics, you'll motivate employees without overselling the situation. Keeping a cool head allows you to develop a reasonable time frame and have fair expectations for your colleagues.
Your plan also involves finding the best approach. Should you introduce everything at once or gradually roll out the changes? You'll decide how to maintain your momentum without overwhelming colleagues. Throughout the process, coworkers know that you're listening and ready to answer questions. They'll enjoy the adjustment period instead of reverting to old processes because they're easier.
Additionally, you'll adjust existing structures to make the process easier. This could involve software upgrades, increased communication, and alterations to company policy. When the project ends, your company has a sturdier foundation and better infrastructure.
-
change manager in finance work environment
Finance change managers work in an office environment, sometimes in their own office. High-end companies offer on-site amenities, such as gyms and cafeterias.
When you receive the job offer, ask the hiring manager about remote and hybrid work opportunities as they’ve become more common across many industries, inlcuding finance. Most change manager positions, though, require you to work in the company’s facilities.
-
who are your colleagues?
Change managers typically work with supervisors to ensure a smooth transition. Supervisors need to stay up to date so that they can assist employees. You'll also help colleagues in different departments shift to the next phase. Additional coworkers may include administrative assistants, payroll managers, HR professionals, and other members of the finance team, such as accountants and tax specialists. You might interact with the CEO as they lead the company through the change.
-
work schedule
Most managers work full-time during regular business hours. Occasionally, you might have to stay late or arrive early if a project experiences setbacks. Your employer might ask you to attend conferences and networking events outside of business hours.
-
job outlook for change manager in finance
Change managers have strong job security because every company undergoes transitions. Adjusting to the times results in growth, increased profits, and more customers instead of stagnation. A rocky transition causes disruptions, bad press, and employee dissatisfaction, which could cost the company money. Businesses value your skills at minimizing risk during financial transitions.
In particular, the change manager in finance brings tools that meet the finance department's needs. If you worked as an accountant or a similar title, you know how to make this department succeed. However, change managers without an accounting background can still learn skills for their specialty.
If you want to try something different, similar roles include employee relations director, learning and development director, human resources assistant, learning coordinator, and director of talent management.
-
benefits of working for Randstad as a change manager in finance
Working through Randstad offers you a range of benefits:
- being paid weekly
- flexibility
- always a contact person you can fall back on and ask for help from
- many training opportunities
- a range of jobs in your area
Want a permanent contract? But you wonder why it would be interesting for you to work with a staffing company? A temporary job as a change manager in finance is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too!
change manager in finance skills and education
Businesses often require a bachelor's degree in business or finance. Accepting an associate's degree is rare because your responsibilities determine the company's future. See if your college offers change management programs that you can take while you earn your degree.
Consider pursuing a master's degree to sharpen your skills and learn from new perspectives. Additionally, stay on top of the latest change management trends so that you can utilize new methods and software. Technology makes it easier than ever to educate colleagues, although they still need a personal touch.
Likewise, earning certifications shows hiring managers that you're a licensed professional, giving you an edge over people who just left school. Valuable credentials include Certified Change Management Professional (CCMP), Certified Problem and Change Manager (CPCM), and Accelerating Implementation Methodology (AIM).
Certification costs can range from a few hundred to a few thousand dollars depending on exam, class, and textbook fees. Some require in-person training and hours of independent study. Expect to take two or three exams for intense courses. Once you've earned your license, you may have to renew it every year.
skills and competencies
Problem-solving is the most essential skill for a change manager in finance. You determine what could go wrong during the process, and then prevent issues before they arise.
Potential challenges include:
- lack of communication
- inadequate time frame
- insufficient budget
- unrealistic expectations
- software failures
Fortunately, you'll plan ahead to minimize these risks. If something goes wrong, you have a backup plan. You also act quickly to resolve issues before they interfere with the schedule. After all, people want to get back to work as soon as possible.
The change manager in finance also understands psychology. Change can be intimidating, especially for employees who have worked there for years. When you talk to people, you adjust your knowledge to their skill level so that everyone understands you. Likewise, you break the process into simple steps so that it's less overwhelming. Everyone knows what to expect when they come to work each day.
Finally, you communicate clearly and leave a paper trail that others can refer to. You're always organized, allowing you to pull documents at a moment's notice. You build strong relationships because you're professional and courteous. Plus, you learn from each transition to make the next one even smoother.
FAQs about working as a change manager in finance
Here you will find answers to the most frequently asked questions about change managers in finances.
-
why do businesses need a change manager in finance?
When businesses undergo a major transition, the change manager in finance develops a plan, works alongside CEOs, and guides the company through the process. You'll develop tools and training methods that help employees quickly adjust, creating minimal downtime. This is particularly valuable if the company makes emergency changes during a crisis.
-
how do change managers in finance improve the work environment?
Transitions can throw a lot of information at employees at once. Without a plan, your colleagues can feel underappreciated and overwhelmed, leading to decreased productivity and morale. You listen to their concerns and move at their pace so that they want to stay with the company.
-
are change manager in finance jobs in high demand?
Change manager in finance positions are in high demand because you save companies time and money, increase employee satisfaction, and help them better serve customers. You're the first point of contact for supervisors and colleagues, ensuring that everyone stays on track. You'll also set realistic expectations and keep the process on schedule.
-
can a change manager in finance work remotely?
Some employers allow remote or hybrid work. If you work remotely, your company may provide headsets, microphones, monitors, and other technology for your home office. Supervisors may have frequent check-ins to ensure that you're staying on task.
-
does a change manager in finance have a specialized job?
General change managers work with broader transitions, such as a new CEO or office layout. The change manager in finance specifically assists with the financial department. Anyone can enter this role with enough education and experience, but former accountants and other financial experts do particularly well.
-
how do I find a job as a change manager in finance?
Applying for a change manager in finance job is easy: create a Randstad profile and search our change manager in finance jobs for vacancies in your area. Then simply send us your CV. If you do not have a resume, no worries. Just check out our resume builder. This state of the art tool will help you to create your own resume. Need help with your application? Check out all our job-hunting tips!
