Account managers in the finance industry act as a point of contact between their employer and clients. The account manager addresses customer needs and concerns and supervises the activity of the account. If you’re interested in creating a resume for your account manager job application, this is an excellent place to start.
To start out let’s determine which type of resume is best for you from these three available options:
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Job duties of an account manager
Account managers in finance work in bookkeeping while also developing fiscal summaries and reports.
An account manager’s responsibilities ordinarily incorporate:
Determining financial status by designing and applying processes for gathering, reviewing, and monitoring data.
Leading the accounting department in a firm, organization or business.
Staying up to date on new technology for more efficient processes.
Preparing financial reports on a monthly and quarterly basis.
Executing and reviewing the monthly, quarterly and year-end closeout plans
Account manager median salary
According to PayScale, the average salary of an account manager in the U.S. is $55,601 as of September 2021.
Top skills for account managers
Account managers are responsible for establishing a connection between the company's staff and customers. As such, they are the main point of contact when issues or situations arise with their assigned account. Account managers need an array of skills such as:
- Ability to follow guidelines: These professionals develop business policies and procedures to improve efficiency, cost-effectiveness and flow of information within an organization. The ability to follow guidelines is crucial to foster efficiency and guarantee the organization's workflow.
- Maintaining ledger accounts: A general ledger account is a practice to record a company's complete financial statements. A public ledger lists assets, liabilities, owners' equity, expenses, income or revenue among other information which constitutes the basis of a business's financial statements. An account manager must prepare general entries, reconcile available ledger accounts, maintain receivables, prepare monthly reports and mitigate account delinquency.
- Accountability: An account manager should maintain responsibility within the organization through the use of internal audits. This will ensure that a company's risk management, governing body and other internal processes are running effectively.
- Customer service: An account manager should develop rapport and good relations with clients by answering questions, fixing problems and providing excellent service. Moreover, they should be on the lookout for customers' needs to match them to appropriate financial solutions and keep them returning for more business. Internal relations are also significant, as teamwork is required when working with different accounts.
- Compliance assurance: The account manager is responsible for keeping the standards specified in the account or for the institution where they work. One way to do this is to supervise pertinent policies and creating and monitoring accounts payable to ensure compliance with procedures and practices and consistency , among other tasks.
- Strategic thinking skills: An account manager should develop long-term relationships with clients. Since they need to understand the company's goals, they should look for ways to maintain these relationships while ensuring continuing partnership.
Educational requirements for account managers
Account managers typically need a bachelor's degree in business administration, sales, finance or a relevant field. Many choose to advance their career by earning a master's degree in business, marketing, accounting or relevant areas.
Degrees
New York University has a bachelor's degree in Finance that prepares students to enter the industry through private institutions, such as banks, divisions, such as a private Finance department, government or non-profit institutions. Likewise, MIT offers a bachelor of Science in Finance with a minor in several specialties such as: Management , Business Analytics and corporate finance and investments.
Other bachelor's degrees in finance are offered by the University of Pennsylvania's Wharton School and the University of Illinois Chicago. The latter gives career-seekers close connections to Chicago's financial markets, which provide world-class experiential learning opportunities.
On the other hand, the University of Arizona offers an online bachelor's degree in Accounting. Strayer University also has an online associate and bachelor's degrees in Accounting that may give you a cutting edge as an account manager. Other online associate degrees worth checking out are offered by Southern New Hampshire University and Herzing University.Certifications
The National Association of Underwriters offers an Account Manager Certification that provides professionals with an understanding of the complex and critical role an account manager plays in the health and benefits area of the field.
To become a Certified Management Accountant (CMA) through the Association of Accountants and Financial Professionals in Business (IMA), candidates are required to fulfill one of two education requirements: a bachelor's degree from an accredited institution or a professional certification. The IMA requires transcripts from bachelor's degree holders to verify their degrees. Candidates with unaccredited degrees can still apply to take the exam, but employers consider these transcripts on a case-by-case basis.
Account manager resume-writing tips
Recruiters are consistently looking for capable applicants. As such you will need a remarkable resume to parade your abilities before an employer. Here are a few hints to assist which will make your resume stand out from the crowd:
- Display all licenses and certifications: When applying for a position as an account manager, you need to unmistakably outline two covering sets of qualities: your accounting capabilities and administration experience. When applying for a mid-to senior-level position, your resume's career outline and leadership roles are particularly significant since workplaces will be searching for both specialized abilities and capacity to lead others.
- Customize your resume: If you want to advance your career in the field obtaining a well-recognized accounting degree would help you boost your resume and land better opportunities. However, you should tailor your resume to your background, whether you're a business banker, a comptroller, a treasurer, or some professional, mention the skills you have acquired in your workplace which will help you achieve your goals as an account manager.
- In your career objective, make a compelling case: Include these three critical pieces of data in your career objective:
- How many years of accounting experience do you have and what are the enormous responsibilities you've handled?
- Your highest degree plus other certifications you have.
- Describe the role you'd like to fill and why you'd be a good fit.
- Calculate your professional experience: As a field driven solely by numbers, you should base your professional accomplishments with concrete figures. Mention the size of the budgets you handled, the revenue and productivity of projects you managed,, total assets of the organization you've worked and your fundamental obligations in previous work experiences.
- Utilize key action verbs: Utilize action verbs to add depth and clearness to your report. Action verbs make incredible openers for experience list items. They can be written in cover letters to target them to the particular position.
FAQ
Accounting officers typically assess a company's financial health by planning tax returns. They still keep up with different regulatory rules to ensure that the corporation follows all legitimate lawful conventions. On the other hand, economic analysts are in charge of the organization's entire financial plan.
Accounting managers also supervise the whole accounting department while finance managers work senior-level positions, making monetary designs for the entire organization to follow.
Account managers have various career options like senior account manager, account executive, operations manager, account director and senior account executive.
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