To put in simplest words a Financial Analyst analyses financial data available to evaluate and advice the management of financial risks and make financial projections. Financial analysts also assess the company’s performance and assist in making budgets. Among other duties in a Financial Analyst Job description you will also find developing strategies for cash flow and debt management. Using the data available, financial analysts are often required to make recommendations on buying and selling of stocks of the company. Financial analysts usually work at a computer work station, with numbers and figures that requires a great deal of concentration and focus. Getting a foot in the financial industry can be challenging as it is a highly competitive industry.
- Collecting financial data
- Analysing financial data
- Give advice to management on financial matters
- Financial planning , forecasting and budgeting
- Understanding and analysing financial trends
Key Skills required:
- Excellent computer skills
- Excel spreadsheets
- Analytical skills
- Keen eye for detail
- Mathematical skills
- Understanding of financial and stock markets
- Good knowledge of macro and micro economics
- Ability to work under pressure
Employers: Employment opportunities of financial analysts are available in private sector and also in the public sector. Investment companies, Finance institutions like banks, stock exchanges, underwriting companies are few of the many businesses that require financial analysts on their payrolls.
Career prospects: Students straight out of college with an undergraduate degree can start off their career as a junior financial analyst. Career choices can be varied depending on the type of institution they chose to work for. Usually a junior analyst can move up to the rank of a senior analyst in a span of 3 to 5 years and further to the position of a portfolio manager. Financial analysts also can gain partnership in an investment company, and apply for senior management positions in banks and insurance companies. Financial consultancy is also an option that can be explored. You can also chose to become an investment advisor when you have considerable experience as a financial analyst.
Qualifications required: To begin your career in the financial industry as a financial advisor you will need to have an undergraduate degree. A degree in commerce, business, economics or computer science, is recommended. Some companies also hire people with degrees in other subjects and provide on the job training. There are certification courses that you may be able to do while training on the job. Some of the courses are also available online. To become a senior financial analyst you will need an MBA. In addition to the academic qualifications you should also have excellent computer and mathematical skills.
Financial services industry is quite difficult to get into. A good place to start would be as a financial analyst and work your way up. A good CV that meets all the requirements of a financial analyst Job description is essential to set your foot in this industry.
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