- Business and Employment
Financial Analyst Jobs. What do financial analysts do? High demand skills for Financial Analysts jobs
What do financial analysts do?
Job of a financial analysts can be summarized as analyzing, interpreting and reporting present and past earning as well as forecasting future revenue. I was curious to know about the type of jobs financial analysts are being hired for. Hence I went through the job postings for financial analysts and here are my findings:
Financial analysts are being hired for:
1. Analyzing, Interpreting and reporting periodic business performance, including revenue, gross profit, operating expenses, pricing, and cash flows
2. Helping management make decisions by providing new sales proposals or special pricing
3. Update the revenue forecasting
4. Maintaining, enhancing and analyzing budgets and rolling forecasts and doing variance analysis
5. Presenting the projections and analysis to the senior management
6. Preparing financial analysis for ad-hoc projects and "what if" scenarios using financial modeling techniques
7. Identifying business inefficiencies and potential areas of improvement in the current business model by analysis of historical trends and current operating metrics.
8. Support the performance improvement decisions
9. Managing parts of annual operating plan and forecasting
10. In-depth quantitative analysis of financial, market and supervisory information
11. Analyzing relationships between business line results and macro-economic, market, and other factors.
12. Develop and manage metrics specifically to track and measure each department performances
· Produce reports used for assessing credit information such as risk rating reports and loan transaction summaries (LTS). Prepare summary, present facts and offer opinions concerning credit worthiness.
13. Supporting business plan and long range forecasting model production
Books on Financial analysis
High demand skills for Financial Analysts
1. Skills and experience in relational databases and Excel (Macros, Pivot Tables and V-Look-ups etc..)
2. Skills and experience in financial statement analysis
3. Experience in forecasting and modeling and analysis of complex financial and/or regulatory issues
4. Skills and experience in risk and capital management and scenario analysis / stress testing
5. Skills to summarize quantitative and technical findings for various audiences.
6. Self-starters (self-motivational skills) with strong quantitative and analytical skills, comfortable with extracting and transforming information from leaders into actionable solutions.
7. Knowledge about business and accounting systems including managerial accounting metrics
8. Having strong desire to exceed expectations and strong interpersonal skills
9. The ability to prioratize and multitask in a fast-paced environment
10. A strong attention to detail (Prepare financial related reports accurately and timely)
11. Experience with Great Plains general ledger, Sungard Investran
12. Skills in the PeopleSoft System, preferably of the capital or fixed asset ledger and the Project Costing Capital Module (PCCM)
13. Experience with CMS or Elite
14. Knowledge about fund accounting, GAAP, and GASB
15. Experience with SQL
16. Ability to deliver excellent results within deadlines while managing multiple priorities
17. Flexibility and adaptability
I don't think there will be any financial analysts who has all of the above skills. I listed the above skill to give you a general idea about the type of skills companies search for when they search for financial analysts. Knowledge about this will definitely help you during the interview.
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