Financial experts play a very important role in business operations. This Navigos Search article will help you better understand what is a financial expert?In addition, reveal the skills and qualities required to become a professional financial expert!
1. What is a Financial expert?
A financial expert is in charge of synthesizing and analyzing financial information, collecting financial statistics, business reports and accounting. Beside that, they also analyze trends, make forecasts and solutions to contribute to business development. Simply, financial experts are people who help businesses answer the question "How to make a business profitable?".
A financial expert is in charge of synthesizing and analyzing business’s financial information
2. Financial expert skill and quality requirement
Knowledge and practical accounting experience
Financial experts have to gain knowledge and practical experience in accounting, because this position performs a lot of work related to the budget and finance of the business.
Having a CV with a good bachelor's degree in accounting is not enough for you to compete with other candidates because employers will evaluate your experience in accounting positions in previous units. Therefore, to become the best candidate, you need to actively find internships as soon as you are still a student to gain practical experience and update the market situation.
For extra information: What is the role of the CFO in a business?
Communication and critical thinking skills
Financial professionals are not only involved with numbers, but they also have to communicate, negotiate and deal with customers every day. Good communication and critical skills are necessary.
Financial experts will have to directly present financial statements to management and stakeholders as well as set financial limits for the business's investment portfolio. At that time, a series of questions were raised, requiring financial experts to respond and argue convincingly.
Therefore, financial experts must know how to talk, exchange and develop networkings with colleagues and customers. Creating trust and building self-esteem will help financial experts develop well, and access more loyal customers. To do this, besides solid professional knowledge, flexible critical skills will be the key to success.
The skills and qualities required to become a professional financial expert
Data collection and analysis skills
Synthesizing data is not simply gathering a lot of data based on the request of the leadership, this is the work that collects and classifies data according to specific criteria groups. The financial aspects of the business are varied. If the data is not classified correctly, the analytical assessment will be biased, leading to ineffective financial decisions, more serious consequences can occur is the miscalculation leading to a business finance deficit.
Analysis is now simpler thanks to the support of many built-in financial software. In school, you were taught to use some popular financial analysis software, which is a source of knowledge needed to maintain.
When becoming a financial expert, businesses will use more modern financial software. With the existing knowledge base, you will update new knowledge more easily. Besides, you also need to regularly update new software and applications to serve your work.
The ability to demonstrate logical thinking to collect and analyze a variety of information and data is essential in the financial sector. This skill is not available but making efforts to practice and accumulate in the process of studying and working. Mastery of analytical experience will ensure a solid foundation for your career as a financial professional.
Flexibility in problem solving
Financial experts are responsible for advising and consulting on appropriate financial strategies for businesses. Therefore, flexible coping with and problem-solving skills are important.
If you possess problem-solving skills, you will always have a clear thinking, smart analytical strategy, quickness and foresight. This is absolutely a strength for you when applying for the position of financial specialist. This skill is often accumulated from practical work experience, for this reason, when interviewing, employers will ask situational questions to evaluate and consider your problem-solving ability.
Flexibility in problem solving is a crucial skill
Establish financial reports
Periodically, the business will prepare financial reports to many different subjects, including: internal leaders, shareholders, press releases - media, etc. For each object, you should use different forms, methods of synthesizing and analyzing reported data. Therefore, financial experts must learn report making skills from many different sources to make clear, professional reports.
Technical skills
The financial industry is directly applying financial technology (fintech). Accordingly, the financial expert will prepare financial reports and analysis based on supporting software. If you have no knowledge about technology, it will be difficult to keep up with work. In addition to this position, you also have to learn how to use and operate software to manage financial data, and transmit necessary information to employees and customers.
Quantitative skills
Depending on the industry and field, the detailed work of a financial specialist will be different. However, their common task is to review financial statements and find methods to reduce costs.
In brokerage firms, the Financial expert will be responsible for stock orders, calculating transfer taxes, and transferring profits to clients. Therefore, quantitative skills are very important.
Language skill
In economic integration, financial experts cannot limit their activities in the country but need to have international links. They have to make payment contracts between businesses and foreign partners, so they must clearly understand the specialized English terms in accounting as well as the laws of your country to make the valid payment contracts.
Improving foreign language skills will help them confidently communicate with partners as well as facilitate understanding financial trends in the world. The more foreign language knowledge you have, the better your chances of improving your position in your career fields.
Language skills bring confidence in communicating with international partners.
Teamwork skills
To ensure punctuality and accuracy in financial results, stick to the ability to work independently, experts are also trained to work in groups on large projects. Therefore, the ability to connect and coordinate closely with teammates is an issue that is focused on by employers.
Effective innovative thinking
Finance always comes with elements of accuracy and strict compliance with regulations. However, this does not mean that financial experts cannot recommend strategic innovations.
Businesses always hire good financial experts to help them break through the fierce business competition. Therefore, you need to always innovate thinking, analyze carefully and come up with new ideas to minimize costs and maximize profits as possible.
With the skills and qualities required of a financial expert above, we hope that the candidates will have a standard view to actively learn, improve and train themselves. Good luck on your career path!
To find a job as a financial expert, you can contact the consultants at Navigos Search by using the information below:
- HCM Headquarters: 20th Floor, e.town Central Building, 11 Doan Van Bo, Ward 13, District 4
- Hanoi Branch: V. Building - 125 Ba Trieu street, Hai Ba Trung District
- Hotline: 1800 585 826
- Email: contact@navigossearch.com
- Website: navigossearch.com
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