Torchora
Back to Home

Key Responsibilities and Required Skills for Financial Project Manager

💰 $95,000 - $145,000

FinanceProject ManagementFinancial Services

🎯 Role Definition

A Financial Project Manager is a strategic leader who bridges the gap between finance and project execution. You will be the central point of command for complex financial initiatives, from ERP system implementations to regulatory compliance projects and major process improvements. This role requires a unique blend of financial acumen, rigorous project management discipline, and exceptional communication skills to steer cross-functional teams, manage stakeholder expectations, and deliver projects on time and within budget, ultimately driving financial efficiency and strategic growth for the organization.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Financial Analyst / Senior Financial Analyst
  • Project Coordinator (with finance focus)
  • Business Analyst (Finance/Accounting)
  • Public Accountant (Audit/Advisory)

Advancement To:

  • Senior Financial Project Manager / Program Manager
  • Director of Financial Planning & Analysis (FP&A)
  • Head of Finance Transformation
  • Director of Project Management Office (PMO)

Lateral Moves:

  • Product Manager (FinTech)
  • Operations Manager
  • Senior Consultant (Financial Systems)

Core Responsibilities

Primary Functions

  • Lead the end-to-end project lifecycle for critical finance and accounting initiatives, from initial business case development and chartering through to execution, monitoring, and successful closure.
  • Develop comprehensive and robust project plans, defining scope, deliverables, resource requirements, work breakdown structures, detailed timelines, and budget forecasts.
  • Direct and manage project budgets, including forecasting, tracking actuals against planned spend, and conducting variance analysis to ensure projects are delivered within financial constraints.
  • Proactively identify, assess, and mitigate project risks and issues, developing contingency plans to minimize impact on project timelines, budget, and quality.
  • Serve as the primary liaison between project teams, business stakeholders, IT, and senior leadership, ensuring clear, consistent, and timely communication of project status, risks, and milestones.
  • Manage the implementation of large-scale financial systems (e.g., ERP, EPM, CRM), coordinating with vendors, technical teams, and business users to ensure a smooth transition and successful adoption.
  • Drive the definition and documentation of business requirements, translating complex financial needs into actionable technical specifications for development and configuration teams.
  • Lead and motivate cross-functional project teams comprised of members from Finance, Accounting, IT, Operations, and other business units, fostering a collaborative and high-performance environment.
  • Develop and execute detailed change management strategies to support the adoption of new financial processes, systems, and policies across the organization.
  • Prepare and present executive-level status reports, dashboards, and presentations that clearly articulate project progress, outcomes, risks, and ROI to senior management and steering committees.
  • Ensure all project deliverables and financial processes are in strict compliance with internal policies and external regulations, such as SOX, GAAP, and IFRS.
  • Conduct thorough post-implementation reviews and lessons-learned sessions to identify successes and areas for improvement in future projects.
  • Manage vendor relationships and performance, including contract negotiation, statement of work (SOW) creation, and ensuring vendor deliverables meet quality standards.
  • Facilitate project-related workshops, sprint planning sessions, and steering committee meetings to drive alignment and decision-making.
  • Oversee user acceptance testing (UAT) by developing test plans and scripts, coordinating testing activities, and managing the resolution of identified defects.
  • Champion project management best practices, methodologies (Agile, Waterfall, Hybrid), and tools to enhance the capabilities of the finance organization.

Secondary Functions

  • Support ad-hoc financial analysis and strategic data requests from senior leadership to inform business decisions.
  • Contribute to the continuous improvement of the Project Management Office (PMO) by refining templates, processes, and standards.
  • Collaborate with finance leadership to develop the long-term strategic roadmap for finance transformation and system enhancements.
  • Mentor junior project managers or financial analysts, providing guidance on project management principles and career development.
  • Participate in due diligence and integration planning for mergers and acquisitions from a financial systems and process perspective.

Required Skills & Competencies

Hard Skills (Technical)

  • Project Management Methodologies: Deep expertise in Waterfall, Agile, and Hybrid project management frameworks. PMP, PRINCE2, or Certified ScrumMaster (CSM) is highly desired.
  • Financial Systems Expertise: Hands-on experience with major ERP systems (e.g., SAP S/4HANA, Oracle NetSuite, Microsoft Dynamics 365) and EPM tools (e.g., Hyperion, Anaplan, OneStream).
  • Project Management Software: Proficiency in tools like Microsoft Project, Jira, Confluence, Asana, or Smartsheet for planning, tracking, and collaboration.
  • Financial Acumen & Modeling: Strong understanding of core accounting principles (GAAP/IFRS), financial planning & analysis (FP&A), budgeting, and financial modeling in Excel.
  • Data Analysis & Reporting: Ability to use tools like Power BI, Tableau, or advanced Excel functions to analyze project data and create insightful reports.
  • Risk Management: Formal knowledge of risk identification, quantification, and mitigation techniques.

Soft Skills

  • Stakeholder Management: Exceptional ability to identify, influence, and manage the expectations of a diverse group of stakeholders, from technical teams to C-level executives.
  • Communication & Presentation: Outstanding verbal and written communication skills, with the ability to distill complex financial and technical information into clear, concise messages for any audience.
  • Leadership & Influence: Proven ability to lead cross-functional teams without direct authority, driving consensus and motivating team members toward a common goal.
  • Problem-Solving: A structured and analytical approach to identifying the root cause of problems and developing creative, effective solutions.
  • Negotiation & Conflict Resolution: Adept at navigating difficult conversations, negotiating for resources, and resolving conflicts between teams or stakeholders.
  • Adaptability: Thrives in a fast-paced, dynamic environment and can effectively manage ambiguity and changing project priorities.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor’s Degree in a relevant field.

Preferred Education:

  • Master’s Degree (MBA with a finance concentration, Master's in Finance) or a relevant professional certification (PMP, CPA).

Relevant Fields of Study:

  • Finance
  • Accounting
  • Business Administration
  • Information Systems

Experience Requirements

Typical Experience Range:

  • 5-10 years of progressive experience in project management, with a strong emphasis on leading finance, accounting, or financial systems-related projects.

Preferred:

  • A proven track record of successfully managing at least two full-cycle, large-scale ERP or financial system implementations in a complex, global organization. Experience within a formal PMO and a background in "Big Four" consulting is a significant plus.
Explore More Careers