In 1998, he started his managerial career in Nueva Cádiz FC; that same year, his team went on to win the Venezuelan Segunda División.

Several months later, on June 6, during a friendly match in preparation for the FIFA World Cup qualification, Venezuela defeated Brazil for the first time in its history with a final score of 2–0.

[3] On June 14, 2008, Farías debuted in the FIFA World Cup qualifiers with a 1–1 draw against Uruguay at the Estadio Centenario of Montevideo.

He saw his team advance to the knockout stages following draws with Brazil (0–0)[citation needed] and Paraguay (3–3)[4] and a victory over Ecuador (1–0).

[5] He also became the first coach to take Venezuela to the semi-final stage of the Copa America after his team defeated Chile 2–1 in the quarter finals.

On July 1, 2015, he signed as the manager of Indian Super League club NorthEast United FC.

[7] He took the bottom placed team to the 5th position finish in the league, despite injury to some of his key players at the start of the tournament.

As a caretaker coach, he went on an Asian tour, where he managed only one win over Myanmar 3–0, but also only suffered one minimal loss against Iran.

In his first major competition for Bolivia as coach, for the 2020 CONMEBOL Pre-Olympic Tournament, the Bolivian team would have an outstanding performance, including two shock wins over powerhouses Uruguay and Peru; however, Bolivia did not place in the final round due to ultimately losing to the Brasil team.

[18] On 3 September 2024, Farías was confirmed as the new manager of Junior, in the Colombian Categoría Primera A, replacing Arturo Reyes.