They oversee the investment of funds and manage associated risks, supervise cash management activities, execute capital-raising strategies to support a firm's expansion, and deal with mergers and acquisitions. Cash managers monitor and control the flow of cash receipts and disbursements to meet the business and investment needs of the firm. For example, cash flow projections are needed to determine whether loans must be obtained to meet cash requirements or whether surplus cash should be invested in interest-bearing instruments. Risk and insurance managers oversee programs to minimize risks and losses that may arise from financial transactions and business operations undertaken by the institution. They also manage the organization's insurance budget.
Credit managers oversee the firm's issuance of credit.
They establish credit rating criteria, determine credit ceilings, and monitor the collections of past due accounts. Managers specializing in international finance develop financial and accounting systems for the banking transactions of multinational organizations. Financial institutions, such as commercial banks, savings and loan associations, credit unions, and mortgage and finance companies, employ additional financial managers, often with the title Vice President. These executives oversee various functions, such as lending, trusts, mortgages, and investments, or programs, including sales, operations, or electronic financial services. They may be required to solicit business, authorize loans, and direct the investment of funds, always adhering to Federal and State laws and regulations.