What does a Finance Analyst do?
The primary duty of a Finance Analyst is to examine micro- and macro-economic conditions and business needs to make business recommendations to help an organisation reduce unnecessary expenditures, increase profit and maintain financial success. Finance Analysts also provide accurate forecasts to help business owners make informed decisions on how to conduct business. They often work with financial institutions such as insurance companies and investment banks in full-time work schedules of up to 40 hours per week.
Finance Analyst skills and qualifications
Successful Finance Analysts can research, collate and analyse accounting data and balance sheets, and they translate complex data into simpler formats. Additional skills and qualifications required from Finance Analysts include:
- Impeccable maths and computation skills
- Excellent verbal and written communication skills
- In-depth understanding of the economy and business trends
- Excellent research skills and the ability to determine company values based on financial statements
- Ability to recognise and recommend potentially profitable financial investments
- In-depth understanding of financial topics including tax laws, money market and business environments
- Outstanding presentation and negotiation skills
- Strong analytical skills
Finance Analyst experience requirements
Finance Analysts often require at least four years of experience in finance, risk management, financial analysis or the banking sector to qualify. Ideal candidates have experience working with company directives and conducting data analysis to determine risks. Candidates with a commercial experience can also be advantageous. Some employers require candidates to have experience producing detailed presentations and financial reports detailing trend analysis, forecasting and cost-benefit analysis.
Finance Analysis education and training requirements
Employers often prefer candidates with a bachelor’s degree in accounting, statistics, economics, investment and risk or other financial related fields. Candidates with a major in engineering, maths, physics and biology can also apply depending on the industry. For competitive positions such as the position of Senior Finance Analyst, employers prefer candidates with post-graduate degrees. Additional certification such as the Chartered Financial Analyst program from CFA Society UK can also prove essential.
Finance Analyst salary expectations
According to Indeed Salaries, the average salary for a Finance Analyst is £35,467 per year. This exact figure can vary depending on factors like experience, education, location and company.
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