What skills are needed for finance?
Posted at 22/02/2023
Soft skills in finance
In terms of skills, we generally dissociate soft skills - those cross-industry skills that have a scope of application in the business world in general, and hard skills, those more technical and professional skills that depend on a sector or a profession. In this article, we will look at both the soft skills in finance that are necessary, but also the more technical skills that are highly sought after in the sector.
Let's first look at which soft skills finance requires.
The ability to analyze
Having an appetite and a certain talent for analysis goes a long way in any type of industry, but especially in finance. We'll see some specific uses of this soft skill a little later, but analysis allows for good monitoring of one's financial health and happens to be the best way to develop strategies to improve a company's performance.
Once the analysis is done, the most important thing remains to take the right actions to bring a quick and efficient solution. To prove your proactivity on your CV or during an interview, feel free to mention specific cases where you managed to bring a solution to a problem. This will bring a much more concrete dimension to a much-mentioned skill today.
Struthfulness and punctuality
No punctuality possible without rigour! These soft skills are important in finance because this sector very often requires documents delivered on time. No question of letting anything slip by either; the omission of a simple figure in your calculations or analyses can be very costly.
It is therefore necessary to be organized, rigorous, and to pay attention to details. These are also very valuable qualities for an accountant, and necessary for the conduct of an audit.
The ability to communicate clearly with customers and employees
You should therefore demonstrate to recruiters that you can adapt your vocabulary to the person you are speaking to, to popularize information. For an even more compelling application, you should also demonstrate that you can communicate easily through different channels (phone, email, reports, etc.).
A good management skill
If team management is a highly relevant soft skill for positions of responsibility, you should know that the finance sector appreciates it all the same for any type of job. Establishing a budget, for example, or a performance monitoring, or a proposal, requires management skills.
These documents must be clear to all team members, which is why it is important to be adaptable, to plan, to be persuasive and to be able to negotiate.
Hard skills in finance
Now that we've covered the soft skills of finance, or soft skills, let's look at the technical and more industry-specific skills.
Ability to perform mathematical calculations
Mathematical skills are extremely useful in many areas of finance, particularly those areas requiring statistical manipulation and the creation of equations to make raw financial data speak for itself. Not surprisingly, mathematical skills are among the most sought-after foraccounting jobs. However, they are also an integral part of the work of anyone who works in financial analysis.
When applying, be sure to mention your ability to perform complex mathematical calculations.
A knowledge or mastery of financial modelling
With these mathematical skills, it is possible to progress to financial modelling. The latter translates into the representation of a financial situation accompanied by forecasts, with the aim of simulating different possible outcomes in order to see more clearly the issues.
Such a mastery is undeniably an added value for finance recruiters, as it can prevent many inconveniences within a company or a market.
Proficiency with software used in the finance sector
A good working knowledge of finance software and the ability to adapt to technological change will undoubtedly help you stand out from the competition. The most attractive technical skills for finance professionals include mastery of software such as Microsoft Excel, FIS Global, SAP and several other database management systems. The more comfortable you are with these tools and their various functions, the more useful you will be to employers.
Make sure to list the relevant software that you have significant experience with in the skills section of your resume, or to highlight these skills during your job interview.
A constant watch on financial regulations
Like many industries, conducting a news watch is a nice touch. Financial services regulations require thoroughness and time.
Being aware of changes in banking and tax data is a highly valued skill because it can prevent considerable economic losses and will save time for those who have less.
Fed Finance can help you demonstrate that you have these skills in finance
In conclusion, candidates for finance or accounting job offers must have a strong understanding of industry-standard software, excellent communication skills and the ability to manipulate numbers and data in order to be attractive to recruiters.
Therefore, think about highlighting these finance skills with concrete cases when you update your resume but also during your job interview. Also, improve your LinkedIn profile by updating your skills, this should help you stand out.
At Fed Finance, we help candidates demonstrate that they have the necessary skills in finance to fill the position they desire. Get in touch with us today to get valuable help in your job search process.