WHAT SKILLS WILL I NEED TO HAVE TO DO THIS JOB WELL?
Here are some things you’ll need to learn to do the job right:
KNOWLEDGE OF FINANCIAL MARKET
You must have a sound understanding of the financial market. Only then you will be able to offer updates and other recommendations to your management. This could be regarding things like the company valuations. For example, if you are working for a technology start up, you might need to keep an eye on the scale of investments people are ready to make. You might need to know the valuation levels of tech companies in particular. This information may be helpful when you are meeting a prospective investor.
Good mathematical skills are required to help calculate the company's finances across different verticals. For example, you should know how much money is needed if the company plans to diversify into a new sector. It may be a pharmaceutical company planning to enter the FMCG (fast moving consumer goods like food items or soft drinks) sector.
You must possess excellent problem-solving skills to address the market’s financial condition. For example, your company’s stocks are not doing well in the market. Now you have to develop ways to increase their value.
Communication skills are quite essential in this career option. You have to communicate with the management and your juniors. You have to keep them them all in the loop.
You have to prepare financial reports in the form of charts and graphs. You need to possess excellent computer skills to produce effective presentations. You also need mastery over widely used financial software like Tally or advanced MS Excel.
ATTENTION TO DETAIL
You will be analyzing and preparing reports like balance sheets or income statements. You must make sure that you include every minute detail accurately.