Are you interested in becoming a float manager in the near future? Surprisingly, the expected median salary of a typical float manager is about $89,299. The report on market pricing is prepared through the use of the “Certified Compensation Professionals”. The data is surveyed and collected from thousands of human resource departments and employers, on all industries, geographies and sizes.
As part of the float manager job description, the job requires one to lead and manage a certain number of float analysts. They have the task to oversee any related information about float activities in such an organization. Apart from it, they must implement and design compulsory process changes to reduce the float time and speed of the check processing.
Furthermore, one is often obliged to stay in accordance with the laws enacted and passed by the Federal Reserve. This is often done to best serve the optimum objectives, missions and visions of a certain organization. There is even a need to adjust the plans appropriately and accordingly.
Truly, a person who wants to be a float manager must first finish a bachelor’s degree or must be a degree holder. One must have at least seven years of experience in the related area. This is the optimum requirement to be qualified in the job. A certain familiarity in the practices, procedures and concepts in the field is also a must. These are proven significant in the better performance of being a float manager.
Apart from it, the job requires a person to greatly rely on the judgment and extensive experience in accomplishing all planned goals. A float manager must perform various obligations, such as directing and leading the work of other people. Thus, it is understandable that he is needed to supervise and monitor his subordinates. A huge degree of latitude and creativity is also expected. Of course, there is a need to be creative. Even reporting on the top management is needed.
On the other hand, a float manager also has his optimum concerns, in regard with the project management. Likewise, the term slack or float is the amount of time wherein the task, in such a network, may be delayed without further causing delays on project date (total float) and subsequent tasks (free float).
Apart from it, the job is also focused on the activity that pertains to the critical path that has the so-called “zero free float”. The activity with zero free float is still not a critical path. Furthermore, the total float is associated or linked to the path. Once the project network diagram/chart has about four not-so-critical paths, it is expected that the project will have four total values.
In totality, the float is now the combined “free float values on different activities in such a path. Then, the expected total float fully represents the so-called “schedule flexibility” and can be measured by means of subtracting the early dates from the previous dates of the path completion.
This may be quite difficult to understand; however, they are understood by a certified float manager!