If you decide to become a financial analyst in 2021, you should prepare for the fact that you will have to study constantly and mainly on your own. Not in one profession do not read the number of newspapers and magazines per day, as the financial analyst does. For him, it is just a necessity, because for the correct financial analysis, sober assessment, he must be aware of all the changes that have taken place in the economic, political, social spheres of life of the objects of his analysis. And you can only recognize this information from the media. In addition, in some cases, you need specialized software, such as CRM or accounting software.
When writing a resume to become a financial analyst, it is necessary to describe not only key knowledge in the field of financial analytics; it is necessary to specify additional points, such as the experience of work as a financial analyst, in order to positively stand out against the background of others. You can add a description of the specialized financial skills in this area. In the resume, you can add non-important skills that are not relevant to the specialty but are quite important in the professional plan, so you can highlight this information in your resume because in this profession you need to work with the finances of large corporations, companies, and enterprises. These skills include the following: accuracy, ability to take control of various stressful situations, qualitative organization of work.
Higher economic education, the ability to think analytically, numerical abilities, fluency in English - these are the features that create the image of the professional financial analyst. It is easy to guess that the placement of employees with such resources of knowledge and skills is a must for many modern companies, leading to survival and development in a difficult, highly specialized market.
People in this position are engaged in processing data from various sources (external and internal), which are useful for this company. To create various reports, the financial analyst uses data derived principally from the company's accounting department. At present, most large companies operate a control system that involves the cooperation of many organizational units of the company, and the effectiveness of the project is influenced by data closely related to finance, as well as non-financial data (human resources of the company, the situation of competition, sometimes also the financial situation of the country and abroad).
Much of the work is absorbed by the cost analysis or financial reporting company, but they are used primarily for the implementation of future projects. Thus, data from past and current periods, as well as commercial enterprises, are used to generate a budget, prepare future financial transactions, prepare short and long-term corporate strategies that are used by the company to generate profits.
The financial analyst also predicts the economic situation in the context of the company's investment projects based on the company's performance and risk assessment. Using indicators, parameters, models, the chances of success of projects are considered, various financial scenarios are analyzed.
An important issue in the work of the financial analyst is a painstaking analysis of the profitability of the products and services that it provides, as well as the assessment of the profitability of individual organizational units operating in the enterprise.
Financial analysts are looking for work primarily in large companies, such as banks, consulting companies, manufacturing companies, as well as government departments.
The main tasks of the financial analyst are:
The financial analyst will deal with: