Posted July 17, 2018
3 Key Attributes of a Successful Finance Professional
Being a successful IT finance professional is no easy task, especially in the current market conditions. Read on, to find out the top 3 key attributes you need to develop to have a successful career in finance.
IT Financial leaders have always been the key to the successful running of an organization. The skills and expertise required to become a successful finance professional go beyond just a grasp of the numbers. The rapid technological advancement along with tighter government regulations, heightened investor expectations, and global business competition is adding to the list of growing demands on those serving in mid-level and senior positions in the financial sector. Building a successful career in finance is therefore not an easy task. Below are the top 3 key attributes that are necessary for an impactful career in the financial industry.
Jobs in the financial industry have become much more complex, requiring deeper knowledge, subject matter expertise, and skill sets. In other words, you need to have depths in your core competencies. Today, the customers are more sophisticated and demanding as compared to a few years ago and thus they expect more comprehensive and customized solutions. Unlike 10 years ago, when a finance professional was just required to offer counsel on basic administrations like advances and essential investment items. This change in the role of the financial advisor is bound to get big with increasing automation of financial transactions.
As a finance professional of the future, you have to look at providing a broader range of services and a richer experience for your clients. This means you have to be aware of the current impact of digital developments on your business. But this isn’t just a matter of knowing how Python or Java works. It involves having a strategic view of the way technology is changing the world of work. It is also important to understand its impact on working practices and commercial culture. It is without a doubt, the time to work on your core competencies and develop the same to take on the challenges of the future.
Cross-Functional Adaptability/ Versatility
Business lines and job functions are no longer as static and predefined. As a financial leader, you will be in involved in many processes. You could be providing advice on a business deal one minute and offering input on a purchasing decision the next. Top financial leaders are experts who balance a variety of tasks while never losing sight of key performing indicators. In order to be successful, it is increasingly important that you expose yourself to a broader range of business areas. This would help you to generate a fresh perspective, that could, in turn, identify new areas of competitive strength and help you to drive innovation.
Besides having the ability to think strategically, finance professionals are increasingly required to become business partners and advisors to other functions in their organizations. So, along with cross-functional ability, they also need other skills. These include business acumen, leadership, communication, influence, analysis, and advisory. Such versatility would be a key asset while taking upon larger functions and responsibilities in a banking role.
Financial IT executives must have a strategic mindset, always taking note of trends that have the potential to impact their employers. The best leaders recognize that change is a constant and keep a flexible mindset when it comes to modifying company policies and practices. Not only do they motivate their staff to exercise their creativity, but they also support those who challenge the norm.
As a finance professional you should be able to put together an insightful view of future developments. You should be able to consolidate current business intelligence and use it as the basis for realistic projections of future scenarios. This would enable you to help the organization navigate periods of transition and use change management as an opportunity to prepare the company for greater success.
Lastly, the best people in finance have strong interpersonal skills, who can communicate effectively, work with team members, and offer their insights and analysis in a solution-focused way. They have an ability to step out of the traditional boxes to which finance has often been consigned, and speak to the numbers in a way that makes sense to other members of their team and the company as a whole. Remember, being a real leader means setting examples, being a resource for others, and bringing out the best in your team. You should be able to see tasks and processes with a view towards continuous improvement, setting priorities and revising them in order to make it more efficient and in the end, unleash your full potential.
At Beachhead, we are always interested in hearing from Finance and IT professionals like you, who are ready to take on new challenges and grab opportunities to take their career to the next level. Do comment below and let us know what you think are the top attributes of a successful finance professional. Also, remember to follow us on Twitter and do connect with us on Facebook for exciting industry tips and tricks.