What is Project Finance Manager?
Role / Profile
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Who is a project finance manager?
Project finance managers are responsible for managing the project finances within an organisation with great diligence. They also find out if a project is viable and determine all the risks involved before any financial considerations are taken.
What are the responsibilities of a project finance manager?
A project finance manager plays a wide role and manages a variety of projects. Some of the common responsibilities of a project manager are:
• Understanding the volume of the project and the risks involved in it.
• Determining if a project is viable or not through financial analysis and thorough research on the project.
• Preparing financial models and collaborating with the project members to analyse the fund requirements.
• Ensuring the compilation of data in a timely manner and presenting it to the stakeholders as per requirements.
• Overseeing and monitoring projects to ensure that deadlines are met and it stays within the budget.
What are the skills associated with a project finance manager?
To have a successful career as a project finance manager, you should have the following skills:
• Advanced skills in financial planning, modelling and analysis.
• High attention to details and decent time management skills.
• Proficient in business management and market intelligence.
• Basic understanding of various financial software and tools.
• Good analytical and problem-solving skills.
What are the career outcomes of a project finance manager?
With an experience in managing project finances, you can expect one of the following career outcomes:
• General/Operations Manager
• Senior Finance Manager
• Chief Financial Officer
What is the average salary of a project finance manager?
The average salary of entry-level project finance manager is around ₹ 5-8 Lacs per annum, while an experienced or senior-level professional earns approximately ₹ 10-15 Lacs per annum. The salary of a professional also varies according to his experience, qualification and the type of organisation he is working in. Usually, the salary and career growth of a professional with a certification in project finance is better as compared to that of someone who is not.
What are the career advantages of becoming a project finance manager?
The role of project finance manager offers the best of both project management and financial management. Following are some of the prominent career benefits you can have as a project finance manager:
• As a project finance manager, you will get the opportunity to meet people from different background and work with them. This will help you in strengthening your professional network and also, improve your knowledge of various areas.
• The most important aspect of a project finance manager role is time management as it requires timely delivery of information. You will be able to improve your time management skills, which will help you in higher professional roles.
• As already mentioned, becoming a project finance manager can help you improve your skills in both areas – finance and project management. You can move up the professional ladder in either of these career paths.
Which profiles can go for a project finance manager role?
• Finance Analysts
• Staff/Corporate Accountants
• Assistant Project Managers
• Assistant Finance Managers
Who can become a project finance manager?
• Non-experienced professionals – To become a project finance manager one should have some amount of experience in handling finance projects. However, if you do not have any experience, you can go for a certification in financial modelling or financial analysis.
• Experienced professionals – Most experienced professionals have skills like project management and financial analysis. You can always improve your skills and knowledge with a professional certification course.
Naukri Learning offers a variety of courses in project finance analyst or financial modelling which will help you to boost your career, get better jobs and improve your salary.
What is the eligibility criteria to become a project finance manager?
There is no fixed eligibility criteria to become a project finance manager. However, one should have some amount of experience in handling project finances and financial analysis. Most professionals are have a degree in MBA or Finance. You can also improve your chances of getting a job with a certification in project finance.
Why are candidates going for a project finance manager?
The position of a project finance manager offers good career growth and will be a step towards a top executive profile. Some of the reasons why candidates are going for a project finance manager position are:
• Finance Analysts – There is a lot of competition among financial analysts in the industry and this might hamper the career growth. This is why many candidates like to gain project management skills and move to a project finance manager position. You can have a quicker career progression as the competition is lower in this field.
• Staff/Corporate Accountants – Though the career growth of an accountant is well defined, moving to a higher position can depend more on the years of experience than the skills you have. So highly skilled accountants can go for a project finance course and boost their career.
• Assistant Finance Managers – For assistant finance managers, the position of project finance manager is a step up in their professional career. Also, the average salary is higher in comparison to that of assistant finance managers.
What do recruiters look for in a project finance manager candidate?
Recruiters usually look for the following points while hiring a project finance manager:
• Prior experience – Recruiters love to hire candidates who have already shown expertise in the field. However, if you have the skills and the ability to perform the role of a project finance manager, you can easily get an opportunity.
• Key skills – financial management, financial analysis, financial modelling, market intelligence, budgeting, taxation, fund management, project appraisal, etc.
Who are the top recruiters that hire project finance managers?
There are many top organisations who hire skilled project finance managers who can help them in understanding the viability of projects. Some of these big recruiters are KPMG, Reliance Industries, Mphasis, Tata Projects, and Huwaei.