6 Finance Manager Interview Questions and Answers
Q:
Do you know how to use relational database management systems like Oracle in your job as a finance manager?
A:
A candidate who has worked with relational database management systems would be ideal. Is the applicant an expert user of these systems or just getting started? When you talk about the applicant's experience, pay attention to the methods he or she has used in the past and whether or not your company still uses any of those methods. Most of these programs use the same programming language, called SQL, which makes it useful to know at least one relational database management system. What to look for in an answer:
- Knowledge of SQL
- Ability to translate data from relational database management systems
- Confidence in oneself
Example:
“As a finance manager, I have six years of experience using Oracle. I have a working knowledge of SQL. "I recently began using Tibero and Microsoft SQL Server.”
Q:
Tell me about a time when you had to prepare a financial report with a very tight deadline. What steps did you take?
A:
A finance manager is accustomed to working with strict deadlines. The ideal candidate will be familiar with producing reports in a hurried manner. The answer to this question will determine whether you can compare the candidate's answer to the company's definition of a tight deadline. Between candidates, the timeframe could be very different. What was the applicant's time allocation for creating the financial report? Things to look for in a response:
- Understands the importance of efficiency and accuracy
- Experience preparing financial documents with a tight deadline
Example of time management abilities:
“I was given four hours to prepare a financial report." stopped working on all non-essential tasks and brought in my assistant to sort through balance sheets while I examined statements of cash flow.”
Q:
What are your methods for avoiding errors when recording and examining financial documents?
A:
Even though there are automated ways to do things as a finance manager, there is still a chance of making a mistake when recording and checking the accuracy of financial documents. An applicant’s dedication to accuracy is critical, as financial mistakes can quickly result in costly blunders. A good candidate will always be thinking ahead and have a set routine for double-checking his or her work. Does the applicant ask a coworker to double-check reports before submitting them? What to look for in an answer:
- Attention to detail
- A solid routine for double-checking work
- Ability to correct errors before there is a problem
Example:
“In my last finance manager position, I put together a team of analysts to double-check all financial documents." "I would correct any errors on the documents before submitting them to upper management.”
Q:
As a finance manager, how do you motivate and reward your team?
A:
The ideal candidate will have interpersonal skills and the ability to motivate teammates. When working with numbers, employees can often become disgruntled if they feel unappreciated. From the applicant's answer, you should be able to figure out what motivates and rewards him or her. A finance manager should be able to find out what kinds of rewards his or her staff wants and use that information to make programs that work better. A finance manager should be able to identify the types of rewards that his or her staff is interested in and use that information to create programs. A finance manager should be able to identify the types of rewards that his or her staff is interested in and use that information to create programs. A finance manager should be able to identify the types of rewards that his or her staff is interested in and use that information to create programs. What to look for in an answer:
- Communication skills for staff and colleagues
- High level of initiative and creativity
- Knowledge of motivational techniques
Example:
“As a finance manager, I allocate budgets for monthly bonuses and Friday lunches. Every Friday, I provide my team with excellent lunches in the office. "The monthly bonuses are for those who come to work daily.”
Q:
In your opinion, can a cash flow statement tell how well a company is doing?
A:
Finance managers know the ins and outs of a plethora of different financial documents. The applicant should be aware that a cash flow statement reflects what a company is doing with its money and where it is coming from; however, it does not take into account liabilities and assets. Focus on what side of the question the applicant is defending. Does the candidate recommend using another document for a company’s entire financial condition? What to look for in an answer:
- A solid understanding of multiple financial documents
- Explains the pros and cons of different financial documents
- Critical thinking skills
Example:
"To fully understand a company's financial situation, I would use a balance sheet, which lists the company's assets and liabilities, and a cash flow statement. Multiple documents are used to fill in any gaps.
Q:
Have you ever disagreed with a member of upper management about an investment decision? What example can you provide, and how did you handle the situation?
A:
Finance managers give helpful information about how a company handles its money and work hard to keep it in good shape. With this question, the interviewer can see how well a candidate can look at possible investment opportunities and compare them to the company's current income versus its debts or accounts receivable. It also shows that they can respectfully question authority in order to keep a business's finances in good shape.
- A candidate's answer should emphasize:
- Respect for upper management professionals
- Persuasive verbal communication skills
- Ability to recognize financial risks
- Here is one example of a quality candidate answer:
Example:
"Yes, at my last job, our company's CFO tried to make the business as profitable as possible by investing in new businesses. It was the end of August at this point, and we were still awaiting client payments to cover our current liabilities. I produced a report that explained how current client payments would barely cover current liabilities in order to help them comprehend my justification. This was sufficient for the CFO to think about delaying our investment plan until after the beginning of the following year.
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