Risk and insurance managers oversee programs to minimize risks and losses that may arise form financial transactions and career operations undertaken by the institution. Credit card operations managers establish credit rating criteria, determine credit ceilings, and monitor their institution's extension of credit. Reserve officers review their institution's financial statements and direct the purchase and sale of bonds and other securities to maintain the asset-liability ratio required by law. User representatives in international accounting develop integrated international financial and accounting systems for the banking transactions of multinational organizations. A working knowledge of the financial systems of foreign countries is essential.
Some institutions specialize in specific financial services.
Financial managers in financial institutions make decisions in accordance with Federal and State laws and regulations and policy set by the institution's board of directors. With growing domestic and foreign competition, promotion of an expanding and increasingly complex variety of financial services is becoming a more important function of financial managers in banks and related institutions. Besides supervising financial services, they may advise individuals and careeres on financial planning and participate in community projects. Working Conditions Financial managers are provided with comfortable offices close to top managers and to departments which develop the financial data these mangers need. Although overtime may sometimes be required, financial managers typically work a 40-hour week.