@montanachad:
In our company, for example, we have a Content Manager who is responsible for liaisons with the various departments to assist them in publishing content on the portal. This person also happens to be our Quality Assurance expert who is involved in testing during the SDLC we do as developers. A content manager is usually has very good communication skills, is detail oriented and superb at documentation including compliance standards and policy. They also have basic knowledge of web design, usually better than average skills for graphical formatting and digital image and document processing. They also have good organizational skills and make a web site really shine. This person will work with developers and graphics designers as applicable within the structure of the company, of course.
I designed a content approval and rejection system where the Content Manager can oversee the entire process from concept to publish, and department heads are selected (say legal, marketing, etc.) which review and may approve or reject the content forwards and backwards within the heirchy of the system. It's great if a Content Manager knows various CMS's which offer these types of features.
Let me tell ya, it's a tough position - part tech, part social worker and part journalist as angelwatt wisely mentioned.
You got my respect.
-jim