Across the financial industry, here’s a list of the finance professional skills which are expected from all employers and required in candidates to be successful.
First and foremost, as to be expected when working in finance, you will need to have an excellent mathematical understanding – especially when involved in selling or trading in the more exotic and complex financial products. In the majority of roles, you will need to analyse and understand statistical information and have mental arithmetic skills that enable you to think on your feet in a fast-paced environment.
Whilst being quick with your mathematics will assist in the daily functions of your role, to gain the respect of your clients and truly succeed in the markets, you will be required to think laterally and stand out from the crowd. A good starting place to understanding the dynamics affecting the financial market and the potential effects on your chosen products is to immerse yourself in information. Ideally, you will enjoy expanding your understanding on a daily basis already, and it will be part of your personality make-up. Politics, World Affairs, Economics, Trends are all a given. If the information is the true power in the markets, it can only be developed from knowledge.
Although your chosen role may be a little separate from clients such as in Financial Analyst or Trader, you will still need to have strong communication skills. You must be able to study, understand and pass on your thoughts to those around you. You need to be able to speak to people in a professional and confident manner. To be able to be credible in communications with senior Finance Industry professionals is a common job requirement.
For those in a more customer facing position such as an Advisory Broker or Wealth Manager, it is imperative you can convey sometimes complicated issues and product information to a wide range of people. A huge part of these roles can be classed as a sales function, which has been very ably defined as imparting your enthusiasm for something onto a third party.
Sales techniques can be taught, but a natural sales ability and good sales skills will make you fit for career progression. A proven sales track record is generally preferred, with a background in a sales environment essential.
It is important to remember that communication is a two-way process: you will be expected to understand your clients’ needs and perceptions of risk to offer the best services that meet both the expectations of your customer and employer.
d. Analytical Skills and Attention to Detail
In all disciplines, you will need to analyse a huge range of financial information and have the ability to sift through this to garner that which is required to make an informed decision. For example, if you are looking at the official documentation provided by corporations, it will nearly always be presented to support the company line, the current Directors future projections, and ultimately give a positive spin to even the most damming of annual figures. Making judgements on this whilst taking into account other economic/market trends, and getting it right, is crucial to the success you achieve for your clients, firm and ultimately yourself. All data you present has to be entirely accurate in whichever capacity you work in the markets.
In a high-pressure environment, keeping a cool head under pressure and maintaining the capability to think clearly and communicate in a professional manner is a must. There are some successful hot-heads, and you will come across strong personalities in any work environment, although there are probably a higher proportion of vocal characters on a busy equities trading floor. Try not to confuse aggression with confidence, as some people do. You will need to be a good decision maker and confident in your reasoning. Been able to impart enthusiasm for your decisions and thoughts are crucial, but unlike in the movies, those who get to the top of the ladder tend to be able to speak to people of all backgrounds and abilities, and be very capable of working in a cohesive team as well as on their own initiative, not purely bully those around them into agreement. Due to the long work hours and the level of commitment usually expected by employers, you will probably have a high level of personal drive and determination to succeed.
You should be cheerful, eager to learn and produce in a highly results-driven environment. You should also be enthusiastic about developing and implementing ideas. You’ll be a self-starter who can work independently as well as within a team.
A track record of high enthusiasm and a winning attitude for success will be required, in and outsworkplacerk place. Also, being a team player with a positive and confident ‘can do’ attitude to all aspects of life.
Above all these finance professional skills you will be expected to be honest and trustworthy in all you do. So much so, that it is laid down by the Regulator that you must be ‘Fit and Proper’ in your conduct before they legally allow you to work in the regulated markets. Honesty and Intelligence breads trust from your colleagues, management and customers.
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