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How To Hire Finance Analyst

How To Hire Finance Analyst

17.10.2020

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A finance analyst is a person, who is needed in any company, which is going to become the best one in its field of business. FinanceWorld professionals know which person can be the best finance analyst.

The person who chooses this field of activity will be engaged in the study of issuing companies and the preparation of recommendations regarding the purchase, sale, or retention of securities. In fact, they perform very important functions, since the success of the organization or the person for whom it works depends on their advice. The slightest mistake can cost a reputation or career.

The activity of a finance analyst

The activity of this specialist is closely connected with the analysis of certain information. His work can be divided into several stages. First, a finance analyst gets a task. Next, he is looking for information that will answer all the questions posed by the customer. In the course of his work, he is engaged in analyzing the market, identifying trends in its development. The specialist systematizes all the received information, notes the most important economic indicators. The largest part of the analyst’s work is making forecasts. It is extremely important to do everything right here, because customers may lose a lot of money due to an error. A good financial analyst should have a high level of knowledge of economic disciplines. It is extremely important to have the skills to analyze development trends and changes in the market, to understand the mechanisms of operation of a specific market niche. Also, the work cannot be done without the knowledge of financial statements and accounting.

What does he do?

Every finance analyst has a rather busy schedule. Their duties include monitoring the trends in the global market, analyzing the financial performance of commercial organizations or enterprises, analyzing the effectiveness of company management, investment advice, and informational support, making forecasts and recommendations. In some cases, they deal with the publication of materials in the media. His duties are determined by the employer. So they can be very different. Financial analysts can work in various fields of activity. On this basis, its specialization is determined. Such specialists successfully work in financial and investment companies, in banking organizations. They are also indispensable workers in government regulatory agencies. They are needed in large corporations and stock exchanges.

Who can be a financial analyst?

Only those people, who have analytical skills, have an excellent operational memory, distinguished by tolerance and attentiveness can choose this specialization. The work of this specialist requires perseverance and the ability to bring their work to the end. Financial analysts should be able to select and synthesize information, organize it, convey it to the client. So if you want to become a good specialist, it is important to have all these qualities. To hire the best specialist in this field considers the following things:

IT skills

Any analyst knows that the process of working with the information itself consists of collecting data, compiling certain goals/hypotheses, and testing them. Depending on the type of your business, you can focus on one (or several) of these items. If you are an online store, then you need to systematize the data, their constant uploading, and updating. IT skills are crucial here — check if the applicant has them.

The knowledge

If you work, for example, in the restaurant industry, then here comes first and foremost marketing knowledge and strategies. Find out how the candidate would find additional information (feedback/opinions, focus groups, polls) and how competently he is able to compile surveys and collect data

Determine the level

A modern analyst must have a mix of business, IT, and analytics knowledge.

Sometimes knowledge is more valuable than experience. Even if you see that your candidate is well versed in the analysis itself, but is not interested in the latest innovations in its field, then you should think if you can hire him.

Give time

Do not ignore the trial period and test the candidates — this is the only way you can check the specialist in work.

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