The financial services industry is a highly competitive field, but it can also be profitable. Whether you are a financial analyst looking to make the transition from working in financial services to working as part of financial services, or if you have been spending some time as an accountant and wonder if there is more than meets the eye in financial services, it can be helpful to know what financial analysts do to make an informed decision.
Financial Analysts.
The financial services industry organization describes financial analysts, Institute of Financial Services (IFS) Professionals. Yet financial analyst jobs have more to them than just analyzing financial information. With that being said, financial analysts are not financial planners. Financial planners are financial advisors, financial consultants, or financial advisers who offer financial advice to their clients about financial planning, retirement planning, and investments, among other things. On the other hand, financial analysts have more of a technical role in the sector; they are the ones that develop financial models for various industries throughout different sectors of business.
Key responsibilities of financial analysts.
Financial analyst jobs vary in responsibilities depending on the financial services company you are working for, but financial analysts usually have these job responsibilities:
– Perform financial analysis assignments under the direction of a financial manager.
– Answer finance-related questions that may arise within other departments or customers using financial analysis techniques, models, and software skills.
– Assist financial managers in developing financial models for financial analysis, financial planning, and financial forecasting.
– Analyze financial data to assist in determining financial projections or investment strategies.
– Prepare reports on financial issues of concern to senior management. Such reports may include updates on the industry, the company’s product lines, and other essential information that will provide senior management with financial information on a wide range of issues.
– Present financial data to senior management and other interested parties in a format that is easy for them to understand.
– Assist financial managers by identifying financial trends, business issues, or opportunities that may impact financial transactions or results.
