There are a wide range of roles that need to be performed by the financial analyst staff members within an organization. The financial analyst staff responsibilities vary depending upon the work they have been assigned and their level of responsibility. Their work mostly is of administrative and supportive type. They generally work under the supervision of a manager and take guidance from him and are responsible for reporting to him.
Financial Analyst Staff Responsibilities
Financial analyst staff function as per the directions given by the senior personnel like supervisor or manager. They assist in performing complex financial and statistical analysis associated with the development, implementation and approval of budgets, formulating alternative recommendations to improve the financial operations of the organization which in turn will help in meeting the financial objectives. Let us understand in detail the key responsibilities that need to be handled by the financial analyst staff:
Apart from these major responsibilities, he is also responsible for making presentations to the managers, answering the financial and other relevant project queries, identifying the problems, gathering the relevant financial details from the available resources for data analysis, conducting legislative analysis and studies, etc. He is equally responsible for presenting his conclusions and recommending plans of action that would assist in improving the financial procedures. Thus, he plays a key role in ensuring that all the financial procedures are carried out effectively by carrying out the duties as per the instructions given by the seniors from the organization.
Essential Skills and Abilities
To become a complete professional financial analyst staff member, you need to have some of the following essential skills:
To make an entry as a financial analyst staff member, you should possess a minimum bachelor's degree in accounting, finance, economics or any other relevant field. A relevant professional working experience, internship, certification, or training would prove to be beneficial.
Financial analyst staff members work in a normal office environment with their work hours lasting for about thirty five to forty hours per week. They may need to work overtime if there is some pending work that needs to be completed in the given time limit. Normally, they work late in the evenings or at nights, or sometimes on public holidays and weekends.
The minimum salary that is being offered for the entry level position is $50,000. The highest salary for the experienced candidates is close in the range of $95,000 to $110,000. It varies depending upon the geographical location, size and type of the organization where the person is employed in.
There are bright career prospects for those aiming to make a career in the field of finance, as this is one field which is of prime importance in any type of industry. Moreover, if you have higher qualifications, you definitely have chances for getting promoted to higher positions.
Thus, before you step in this finance industry, make sure you are well acquainted with the financial analyst staff responsibilities.