The world of finance is ever-evolving and growing at a rapid pace. The finance industry has a variety of roles to offer out of which the position of a business analyst is backed by great significance. Indisputably, the financial analyst career is a very prospective one in recent times.
Getting a job in the finance and banking sector is very challenging. The admission requirements might be as high as the pay. While many professionals have a postgraduate degree in business, mathematics, economics, or statistics, with the commencement of online and certification courses, companies are looking forward to candidates who have something more to offer than just a degree. Read on to know more...
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Who is a Financial Analyst?
A financial analyst’s primary duty is to conduct financial analysis for both internal and external clients. Investment analyst, research analyst, equity analyst, securities analyst, or rating analyst are some possible job titles for the position.
If you want to become a financial analyst, then you have to know the work they do. Read along to know the roles and responsibilities of a financial analyst.
Roles and Responsibilities of a Financial Analyst
Depending on the company they work for, the sector they are in, and their level of seniority, analysts have a wide range of jobs and responsibilities. The most frequent activities they engage in are listed below:
- A financial analyst has to gather all sorts of data and information that is essential for the performance of financial analysis.
- After gathering data, it is organised especially by projecting the information on an Excel sheet.
- A financial analyst looks at past results and historical data so that he/she can analyse the current information accurately.
- Based on the current analysis, a financial analyst makes predictions and forecasts for the future of the business.
- A skilled financial analyst also makes recommendations for the improvement of business operations.
- Building effective Excel models is another important responsibility of a financial analyst.
- When you want to convey your ideas you have to make presentations on the same. A business analyst is responsible for presenting financial ideas for the company.
- Finally, generating the reports on the dashboards of a company is also the task of a financial analyst.
Choosing an Online Finance Course for Better Placement
Online learning has been a part of our life more often, post-pandemic. An online finance course will help you to learn a lot of things that you may have missed out on in your years of graduation. The best financial analyst courses allow one to:
- Know the practical application of fundamental tools and concepts of finance
- Learn to make better investment decisions in the finance sector with the application of financial investment ideas
- Nurture the financial management concepts and tools for better applicability in the near future
- Know about financial management tools and concepts for making better dividend decisions for various firms or companies
- Learn to go through the risk profile of the organisations, estimate the cost of capital, and perform the financial analysis
- Understand the operations of a company that deals in the finance industry
Strategic Skills That Will Help in Placements
The best strategy for reaching placement goals is acquiring all the key skills that a financial analyst needs. The essential skills that you need to acquire to become a financial analyst are as follows:
- Good accounting skills
- Soft skills or interpersonal skills are other important requirements that cannot be overlooked
- Good communication skills are always a plus point when you are in the finance industry
- As a financial analyst, you will face a lot of problems. So, it is mandatory that you have great problem-solving skills.
- Know various accounting and bookkeeping software
- Experienced financial analysts can often be in charge of the whole finance team of a company. In that case, you will have to possess leadership and management qualities so that you can run a team
- Critical thinking and strong analytical skills are inseparable parts of the life of a financial analyst. You have to constantly think in an analytical way to derive solutions to financial problems
- Good organisational skills are also equally important
If you are passionate about becoming a financial analyst, then register yourself for the Financial Analysis Prodegree by Imarticus. It is a great course for beginners and professionals who are already a part of the finance industry and want to leave their mark on it.