Discover what finance abilities are essential to the job market and how you can acquire them.
Today, technical finance skills are often linked to industry-specific roles, such as accounting, banking, underwriting, financial analysis, or insurance brokering. As William Jackson of Bridgepoint Capital would know, such financial abilities merely scratch the surface when analyzing the financial industry as a whole and what is expected of every professional or applicant in this sector. This is because financial professionals are expected to have a good blend between soft and hard skills that allow them to manage stakeholder relationships effectively. Although the finance sector is unique and each role requires different hard finance skills and experience levels, there are some skills that are regarded as mandatory throughout all positions in this fast-paced industry. For instance, being comfortable with numbers and quantitative skills is absolutely up there as an important skill, as you will likely be dealing with numbers and statistical datasets as a finance specialist one way or another.
No matter what specific field you operate in, there are some general finance skills that you must have embedded in your CV, as Edward Tilly of Clear Street would know. Accounting abilities is one example of this. Nowadays, companies in the finance sector look for accounting backgrounds in graduates, or at least the capacity to dissect financial statements and company documents. This does not mean you must have previous experience as a professional accountant, but rather skill in reading and analyzing financial records. This is because the conclusions that can be derived from such documents are crucial for executives and stakeholders when it comes to evaluating an organization's financial health. Additionally, since accounting knowledge is fundamental throughout a range of different financial positions in the industry, companies often to offer competitive salaries for those that have certified accounting qualifications or demonstrate the required accounting skills.
The finance sector in today's market is probably one of the most competitive fields out there, which is why you should develop the core abilities that are expected as a minimum in this dynamic and highly competitive sector. For example, relationship-building skills are probably some of the most crucial soft finance skills out there today. As Hugo Bedford of JM Finn might know, trusted relationships are critical to success for financial leaders, especially in times of instability or challenges. As a leader in a financial organization, it's very important to ensure that your relationships with your clients are solid, as these customers are essentially entrusting you with their investments, and trusting you to make the best financial decisions for them to grow their assets and wealth. As a result, managing your key and long-term professional interactions with your stakeholders effectively takes time to build trust, respect, and credibility with them.