what is a change manager finance?
As a change manager in finance, you help businesses reorganise and find new ways to achieve their goals. Every business needs to adapt to survive. Sometimes, businesses make changes to jump ahead of trends. Other times, they roll out changes in slow increments or make plans to address emergencies, such as a recession. The change manager in finance develops a plan and works with colleagues to create a seamless transition.
You follow change management steps, which include creating a plan, evaluating potential results and communicating with employees. You also develop a training program and monitor the progress of the transition. As the change manager in finance, you create training programs that meet employees at their skill level. Alongside in-person courses and online modules, you offer personalised assistance so that colleagues know what to expect every step of the way. Monitoring the schedule and budget ensures that the project stays on track.
If you hit a roadblock, you quickly find a solution with your problem-solving skills. Sometimes, you make last-minute adjustments or adapt to a new situation. Your colleagues count on your level-headed leadership to continue their progress and move to the next phase.
view jobsaverage change manager finance salary
As a change manager in finance, you earn an average of $159,244 per year. In a junior position, you start with a remuneration package of $127,500 annually. As you improve your experience, your remuneration package increases gradually. Senior change manager finance roles attract a salary of $185,500 per year.
what factors affect the salary of a change manager in finance?
Location is a significant factor affecting your salary as a change manager in finance. Different geographic regions have varying demands, market conditions and costs of living. Some metro areas concentrate on specific industries, like finance or technology, while others focus on industries such as mining or manufacturing.
When you work in industries or locations with higher budgets and greater demand for change initiatives, you are likely to earn more. A region with growing economic health also provides competitive salaries due to the constant changes in the companies. Highly regulated industries like finance, manufacturing, mining and engineering also attract higher salaries due to complex regulatory compliance. You have complex financial duties, which improve your remuneration prospects.
Want to know what you will earn as a change manager finance? Check out what you are worth with our salary checker.
types of change managers finance
Change managers in finance specialise in different areas. Events that require a change manager could involve taxes, payroll, bookkeeping, data entry, cash flow, financial reporting, forecasting or risk mitigation. Possible updates include new technology, department restructuring or tax filing adjustments.
For example, a company could introduce new financial software that takes employees out of their comfort zone. With your accounting and technology knowledge, you make a specific plan and guide employees through training. They quickly resume their work, and the new technology improves their efficiency.
working as a change manager finance
As a change manager in finance, you lead your company into the future. Learn more about your responsibilities, expectations and work environments.
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working as a change manager finance
Some of the duties and responsibilities of a change manager finance include:
- creating change management plans: as a change manager in finance, you develop a plan that provides a clear direction to proceed with the transition. You create a change management strategy to help you deal with any challenges that arise. You also establish a communication plan and estimate a budget for implementing the changes.
- forming a change management team: to be an effective change manager in finance, you need a good team. You create a team that will help you evaluate the current situation, come up with change management policies and train other workers. A good change management team comprises professionals in different departments with the necessary skills and knowledge to actualise the change plans.
- creating policies for the change management process: as a change manager in finance, you provide guidelines to team members on their duties. It's best to create policies that align with the change process before the change team takes over. Your policies cover all aspects of the company change plan, including communication, training and resistance.
- conducting training: as a change manager in finance, you support training efforts to ensure employees know their responsibilities during and after the transition. For instance, if the company is introducing new finance or accounting software, training them on how to use the software is important. You conduct training sessions or find trainers for the company.
- monitoring the change process: as a change manager in finance, you are responsible for implementing changes and facilitating a smooth transition. You also monitor the progress of changes using change management software, and in case the implementation team hits a bump, you take corrective actions. You also keep track of changes, ensuring they meet the desired objectives.
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work environment
Finance change managers work in an office environment, sometimes in their own office. Many high-end companies even offer on-site amenities, such as gyms and cafeterias. Due to the high-profile nature of the role, you are expected to wear professional business attire.
When you receive a job offer, ask the hiring manager about remote and hybrid work opportunities, as they've become more common across many industries, including finance. Most change manager positions require you to work in the company's facilities.
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who are your colleagues?
Depending on your employer and the industry you work in, your colleagues might include finance analysts, financial risk compliance officers and finance business partners. You might also be working in close proximity to change managers and legal counsels, as well as other specialists that could include, but not be limited to, operations managers, operational risk managers and finance managers.
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work schedule
Most change managers in finance work full-time during regular business hours. While you work Monday to Friday from 9 am to 5 pm, you stay late or arrive early if a project experiences setbacks. Your employer might ask you to attend conferences and networking events outside business hours. Part-time roles are rare for change managers in finance, but you can work on a contract basis.
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job outlook
Change managers in finance have strong job security because every company undergoes transitions. Adjusting to market trends results in growth, increased profits and more customers instead of stagnation. A rocky transition causes disruptions, bad press and employee dissatisfaction, which could cost the company money. Businesses value your skills in minimising risk during financial transitions.
In particular, the change manager in finance brings tools that meet the finance department's needs. If you have worked as an accountant or in a similar role, you know how to make this department succeed. However, change managers without an accounting background can still learn skills for their specialty.
If you want to try something different, similar roles include employee relations director, learning and development director, human resources (HR) assistant, learning coordinator and director of talent management.
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advantages of finding a change manager finance job through randstad
Finding your change manager finance job through Randstad provides important advantages such as:
- a wide variety of training and development opportunities
- an experienced contact person to provide help if needed
- a range of opportunities in your area
- get paid weekly or monthly, depending on the job
- temporary and permanent contracts
Want a permanent contract? A temporary job as a change manager finance is often a stepping stone to an attractive permanent job. Thousands of people earn a permanent contract every year with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too.
education and skills
If you want to become a change manager in finance, pursue a bachelor’s degree in business administration, economics or HR. You can also get a degree in finance or accounting to familiarise yourself with the finance industry. Since you assist with transition, some companies may require in-depth knowledge of change management. Find online courses to learn the necessary skills. You should also consider professional certifications, such as Project Management Professional, and register with the Australian Institute of Project Management (AIPM).
FAQs about working as a change manager finance
Here, you will find the answers to the most frequently asked questions about the profession of a change manager in finance.
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what are the key responsibilities of change manager finance workers?
As a change manager in finance, you lead the change management team in executing the change management initiative. Any major change in the company requires a change manager to ensure a smooth transition process. Your key responsibilities include planning the change management process, developing policies and training employees.
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what do change manager finance workers earn in Australia?
The typical remuneration package of a change manager in finance is $159,244 per year. Your earnings fluctuate based on experience and educational qualifications. For instance, in an entry-level role, you start with a salary of $127,500 per year, while in an experienced role, you take home $185,500 per year.
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why are change manager finance professionals important?
Change managers are highly paid since they have operational and strategic skills to ensure a successful transition. As a change manager, you should be good at developing change management plans and supervising their execution.
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what is the difference between a change manager finance and a project manager?
As a change manager, you focus on the transition from old structures to new strategies. You also focus on training people affected by the changes in the company. A project manager focuses on activities and processes associated with a project but doesn't handle transitions in the company.
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is change manager finance a good career?
As a change manager in finance, you play a crucial role in guiding companies through transition processes. You are basically the transformational leader, making it an exciting career.
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how do I apply for a change manager finance vacancy?
Applying for a change manager finance job is easy: create a Randstad profile and search our job offers for vacancies in your area. Then send us your CV and cover letter. Need help with your application? Check out all our job search tips here.
