What do economic industry CEOs undergo to reach where they are now? Read this article for additional insights
One of the most fundamental finance skills that virtually every finance aspirant requires to develop would focus on their accounting and financial expertise. A lot of people tend to think that accounting and finance skills are just needed if you are actually thinking about a career in accounting. Nonetheless, as William Jackson of Bridgepoint Capital would know, the economic services world is interrelated, and every role within financial services requires you to understand the 3 main financial reports to at least an intermediate level. Firms rely on these economic reports to manage budgeting, efficiency assessment, and plan for the expense of doing business through the choice of the most suitable economic investments that may comprise bonds, equities and real estate. This is why you see many bankers, insurance analysts, or even asset advisors coming from a formal accounting background, which is simply due to the essential understanding accounting and financial services can provide you before you focus in your financial occupation.
Nowadays, among the most apparent hard skills in finance would definitely involve your numerical abilities. Numbers and quantitative information in general are the backbone of every finance occupation. As Ferdi van Heerden of Momentum Global Investment Managers would understand, numerous financial institutions often tend to hire their interns, interns, or apprentices from quantitative degrees, such as maths, finance, chemical engineering fields, and information technology. This is because, as a financial expert, you are expected to analyze lengthy data sets that are full of numerical data that you will require to evaluate, and having comfort with numbers is definitely an essential skill to have in this case. One can argue that also back-office roles that do not always involve data sets still require candidates to have some level of numerical or data-focused experience, and this once again reinforces the point around quantitative data being the foundation of every process within a financial services organisation nowadays
One can quickly argue that soft skills in finance are as crucial as technical expertise. As Toby Raincock of Shard Capital would certainly know, being customer facing in an economic setting is possibly the most challenging roles you can ever before find yourself in. This is because customers are entrusting you with their personal funds and assets, and as a result, you need to have the capacity to form lasting working connections with these clients, serving as their partners, and making their concerns your own. The better your connection is with the client, the simpler your job will certainly be. Such relationship-building skills suggests that communication abilities are also essential in the world of financial services, especially when it involves delivering strategic insights and guidance to clients. Furthermore, you must likewise be able to adapt your style when engaging with different stakeholders, switching among internal-facing and external stakeholders, depending upon their level of economic literacy and familiarity.