Profession: Financial Manager

Experience: Over 10 years

Location: Lithuania, Vilnius

 

My Personal Experience: 

Since the beginning of my career as a financial manager in Lithuania, I’ve witnessed the dynamic shifts and challenges the profession has gone through. With over a decade of experience, I’ve had the privilege of navigating the intricate financial landscape of this Baltic nation. From startups to established corporations, my journey has been one of continuous learning and adaptation.

 

The Hard part I feel about this profession as per my experience till now:

One of the most persistent challenges in my role as a financial manager has been keeping up with the ever-evolving regulations and compliance standards. Lithuania’s financial sector, while robust and growing, is subject to both local and international regulatory changes. Ensuring that the company’s financial strategies align with these shifting requirements demands meticulous attention to detail and constant education.

Moreover, financial risk assessment is an art that requires a deep understanding of the company’s industry, market trends, and economic factors. Navigating these waters can be complex, especially in times of economic uncertainty. As a financial manager, the weight of ensuring the company’s financial stability and growth often rests heavily on your shoulders.

 

Things I find interesting or feel “happy” about this profession are:

Amidst the challenges, there’s an inherent satisfaction in watching the fruits of your financial strategies manifest. The joy of witnessing a successful investment decision or a well-executed cost-saving initiative is immensely gratifying. Collaborating with cross-functional teams, I’ve had the opportunity to be at the forefront of strategic decisions that drive the company forward.

Additionally, staying attuned to the financial pulse of various industries has widened my perspective. From e-commerce to technology startups, each sector comes with its unique financial intricacies. This exposure has enriched my professional journey, making every day a learning opportunity.

 

Pros And Cons I feel about this profession:

Pros:

• Diverse Exposure: Working with companies across sectors has broadened my understanding of finance’s role in different industries.
• Strategic Impact: As a financial manager, you play a pivotal role in shaping the company’s direction through financial decisions.
• Continuous Learning: The dynamic nature of finance ensures that you’re always updating your knowledge and skills.
• Networking: Collaborating with colleagues, clients, and stakeholders fosters a robust professional network.
• Problem Solving: Overcoming financial challenges is a gratifying exercise that sharpens your critical thinking.

Cons:

• Regulatory Hurdles: Keeping up with regulatory changes demands constant vigilance and adaptation.
• Risk Management Pressure: Balancing financial risks and rewards can be stressful, especially in uncertain economic climates.
• Data Overload: Managing extensive financial data requires robust systems and analytical skills to distill meaningful insights.
• Time Sensitivity: Deadlines, especially during financial reporting periods, can result in high-pressure situations.
• Communication Strain: Conveying complex financial concepts to non-financial stakeholders can be challenging.

 

My suggestions for newbies in this profession:

For those stepping into the role of a financial manager in Lithuania or any location, I offer a few pieces of advice:

• Education Never Stops: Stay updated with industry trends, regulations, and technological advancements.
• Build Relationships: Foster strong relationships with colleagues, auditors, and other financial professionals; networking is invaluable.
• Embrace Challenges: Financial management can be demanding, but challenges lead to growth and expertise.
• Data Mastery: Develop robust data analysis skills; data is your most potent asset.
• Ethical Integrity: Uphold ethical standards, especially when dealing with financial data and company decisions.