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How to Become a Cash Management Manager

Career News February 26, 2014

If you are skilled at accounting procedures and enjoy organizing your work activities for the day ahead, you have a natural mind for management. This is what companies look for; workers that are trustworthy, organized and rational, and that can protect cash assets. A cash manager can perform many different types of cash management tasks. He or she will monitor and control the flow of cash receipts and expenses to meet the necessary payments, investments, as well as business necessities of the company.

The manager’s organizational skills will be used to determine the company’s need to borrow, or to invest surplus cash on a short or long-term basis. Liquidity reports are one of the devices cash managers employ to ensure that the financial situation of the organization is stable and efficient. They may travel to meet with executives and other professionals to locations that range from boardroom to the factory floor.

Education Requirements

Cash manager positions usually require a bachelor’s degree in business, finance, or other related field. Cash manager hopefuls often complete programs including finance, business administration, and cash management. A master’s degree can be helpful in a cash manager’s career, and a completed internship or part-time job in cash management operations can provide practical experience in the field.

Entry-level positions will pay less, but they give green workers the experience that makes it possible to advance to management positions. Many employers provide some opportunity to get on the job training that enables new cash managers to learn the required policies and procedures. Cash managers must complete continuing education programs and additional training to enhance their skills and keep their knowledge up to date.

What the Future Looks Like

A cash manager candidate can expect promising job prospects but one should also expect strong competition. Cash managers who possess advanced training and significant experience will have the best job opportunities. Oftentimes, job openings arise from the need to replace cash managers that retire, transfer, or leave the field. Some new positions occur because of business expansion or new company development.

In 2012, cash managers earned salaries between $59,630 and 109,740, according to the U.S. Bureau of Labor Statistics. The top annual salaries run more than $187,200. It is a job that requires strict attention to detail and constant enhancing of one’s skills, but the salary would seem to be adequate for that dedication.

Special Certification

A certified cash manager (CCM) certification will be presented to business professionals who successfully complete the certified treasury professional examination administered by the Association for Financial Professionals. The association notes that certified cash managers are prepared in various cash management topics and business topics, such as risk management and corporate governance.

The position of cash manager has high potential for growth and is lucrative. It needs constant re-education and certification, but if you have a strong attention to detail, it may well be worth the effort to you. Let UMD, Penn State University, Stanford, or a college in your state, guide you to a better career!

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  • Enhance organizational performance and create effective traditional and virtual teams through motivation, organizational culture, and change management.
  • Address the legal and ethical implications of human resources and administration in an organizational setting.
  • Analyze business policy and strategy in relationship to competitors.
  • Resolve conflict by utilizing various management styles and best practices.
  • Understand employment and compensation requirements including insurance, salary, labor, health, and safety.
  • Online Courses
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
2 Program(s) Found
  • Named a Best for Vets school by the Military Times in 2014.
  • Has specialized in student-centered technology, business, criminal justice, health science, and culinary education for over 45 years.
  • Makes it possible for students to earn a bachelor’s degree in 2.5 years or an associate’s in 1.5 years by providing a year-round schedule.
  • Offers externships and clinical experience that help students prepare for life after they graduate.
  • Has 10 campuses across the mid-Atlantic, plus online degree programs.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Ranked among top Regional Universities in the South by U.S. News and World Report in 2015.
  • Ranked 37th among the Best Colleges for Veterans by U.S. News and World Report in 2015.
  • Stands as the largest private, nonprofit university in the nation with 100,000+ students.
  • Offers over 230 programs online, from the certificate to the doctoral level.
  • Has a student-faculty ratio of 25:1, and 42.3% of its classes have fewer than 20 students.
Show more [+]
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Average class size is 25, allowing for more one-on-one time with instructors.
  • Has a 97% employment rate among available graduates.
  • All  graduates receive Lifetime Employment  Assistance—free and forever.
  • Michigan's largest independent college.
  • Most instructors are working professionals in the fields they teach.
  • Programs are continuously updated to ensure classes are career-relevant and in sync with what's needed in the industry
Show more [+]
  • Accredited
  • Online Courses
  • Accelerated Programs
  • Financial Aid

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