As a senior financial analyst, you will be required to perform various activities, including budgeting and forecasting, financial planning and modeling, etc. You will be responsible for carrying out multiple financial activities and present the insights to the committee, which will help the organization take further actions.
As a senior financial analyst, you hold a crucial role in the firm’s decision-making. It is based on these numbers that other actions of the firms rely on. Hence, you will be required to be very accurate and thorough with what you present. Every insight needs to have proper explanations.
Job Description – Senior Financial Analyst
Companies that are on the lookout for a senior financial analyst role require individuals who have a strategic and detail-oriented mindset while working and looking at things. The senior financial analyst is required to assist with 360-degree financial planning along with the process of budgeting.
The leadership regularly requires summary and reports of the numbers; hence the key role of a senior financial analyst is to make sure the reports are made timely and by how the leadership wants them. The role of a senior financial analyst also includes assisting with the team projects by providing proper financial guidance and closely assisting with the monthly processes.
For individuals to be successful in their role as senior financial analysts, they should perform numerous financial activities. At the same time, you should be very proactive; you should have the capability, willingness, and ability to work in an environment that is demanding and complex.
The role of a senior financial analyst also involves making sure that the team is in a good condition, and employees know what they are supposed to do and how they are supposed to do it.
Skills Required – Senior Financial Analyst
To successfully carry out your job as a senior financial analyst, you will be required to get your hands on plenty of financial activities, which include right from planning, analyzing, strategizing, budgeting, to final reporting. Therefore, you must also possess very strong organizational, analytical and problem-solving skills. Along with it, you should have the ability to present difficult to read financial information easily and concisely.
- As a senior financial analyst, you are required to review and analyze the reports and financial statements properly.
- Tracking the KPI’s and in-depth preparation of the financial reports will be a core task to perform.
- Supervising the budgeting and the processes for monthly closures.
- Understanding of the key and important business drivers.
- Assisting the project teams along with proper financial guidance.
- Development of financial insights and projections by understanding the raw data.
- Building easy to understand financial models
- The candidates should also be thorough with their overall research and analysis.
- It is a must to ensure proper compliance with the financial guidelines, the different company policies, and in place legal regulations.
- A bachelor’s degree in accounting, finance, or such related fields.
- An experience of 2+ years in financial planning and modeling, analysis, etc.
- You should possess the ability to present the financial information to an audience that does not belong to finance.
- You must have core knowledge about different financial strategies
- The financial analyst must also have strong multi-tasking and organizational skills.
- A financial analyst should also have excellent communication and presentation skills.
- They should also be able to work in a high-pressure environment.
- They should also have strong problem-solving, decision making and analytical skills
- Have proficiency in SAP, Microsoft Office, Oracle, and other finance-related systems
Frequently Asked Questions
1 Mention the total experience needed to apply as a Senior Financial Analyst?
Ans. The candidate should possess at least 2+ years of relevant experience. This makes them eligible to apply as a senior financial analyst and it will also increase their chances of bagging the job.
2 Is it mandatory to have good presentation skills when applying for the position of senior financial analyst?
Ans. A senior financial analyst should present their numbers and data to the stakeholders regularly. Hence, you will be driving the meeting, so having good communication and presentation skills are a must when applying for this role.
3 What is the core work of a senior financial analyst?
Ans. In a nutshell, the primary work of a senior financial analyst is to perform numerous financial activities, which include budgeting, the building of financial models, forecasting the numbers, perform thorough research and analysis, preparation of the reports, etc.
4 Generally, is the recruitment process for the position of senior financial analyst?
Ans. The recruitment process for the role of senior financial analyst is quite rigorous. Although the round depends on the company you are applying for, you will have to go through a basic introductory round, technical round, and HR round. One should also be careful about their body language and their presentation. These are things the hiring team notices.