What does a Financial Assistant do?
A Financial Assistant helps analyse the flow of money going in and out of a company. They work under the direction of Financial Officers in the company, keeping track of a company’s spending, analysing losses and looking for ways to earn a profit and forecasting into the company’s financial future. They communicate frequently with departments within the organisation in order to gather data regarding company spending, profits and losses. They also work with Executives and Managers to help figure out long-term financial goals and possibilities for the company.
Financial Assistant skills and qualifications
A combination of excellent interpersonal skills and the ability to work well on one’s own is crucial for this position. Other essential skills include:
- The ability to work well in large groups
- Knowledge of economics as well as accounting
- Analytical thinking skills
- Thorough attention to detail
- Understanding of how to implement change in an organisation
- Leadership skills
- The ability to assess credit risks
Financial Assistant experience requirements
For many organisations, this is an entry-level position and a way for applicants to receive on-the-job training and experience in the finance sector. Some companies may even list this position as a necessary step to becoming a Finance Analyst or Finance Officer within the organisation as a temporary position meant to give applicants an understanding of how the company operates. A strong understanding and interest in financial management is necessary for all applicants and some previous experience in handling money.
Financial Assistant education and training requirements
Employers may require an applicant to have a university degree in a relevant subject like accounting, finance or business studies. Most employers prefer candidates to have at least a college certification in one of the following areas: bookkeeping, accounting or financial studies. Many people gain work experience through completing an Advanced Assistant Accountant apprenticeship. For applicants applying with little experience and without formal schooling, they must have some GCSEs, including maths and English, or have completed A levels in maths, business studies or economics.
Financial Assistant salary expectations
According to Indeed Salaries, the average salary for a Financial Assistant is £20,975 per year in the United Kingdom. For most companies, salary is dependent on experience and location of the company.
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