Do you need a financial analyst and how do you find the right one?

Conducting a reference check

Hiring is heating up. The economy seems to be back on track and companies are growing as a result. With expansion on the agenda, some hiring managers may be wondering if it’s the right time to hire a financial analyst.

With growth on the horizon for many companies, the responsibilities are piling up, and companies may need help. Every great leader knows that delegation can help a business operate more effectively, so it may be time to start shifting a few decisions over to a financial analyst. But how exactly can a hiring manager determine when to post financial analyst jobs, and what are the qualities to look for in candidates?

“A financial analyst helps business executives with making investment decisions.”

Is a financial analyst necessary?
A financial analyst helps business executives with making investment decisions. These are the sort of choices that require a lot of research, so if a CFO doesn’t have the time to put in that sort of effort, then a financial analyst can step in and take over. The information that they collect will then be used to come to a conclusion on the investment. Financial analysts can fit in and contribute to almost any sort of business, and their advice will be worth the extra salary on the payroll if it spurs a few investments with substantial returns.

Finding the person who can help drive smart investment decisions
If hiring managers determine that a financial analyst can help fuel smarter investments, then they are going to have to find a candidate who has the right characteristics to effectively get the job done. Of course, whoever you hire must have strong analytical skills. While this isn’t everything, it is a foundational aspect of the job. This very basic aspect of the individual’s personality is what will drive the hunt for information on investment decisions. However, a strong analytical mind isn’t all that you should look for when reviewing resumes and interviewing candidates.

You also need a person with strong communication skills. What use is the person researching for investment decisions if, when he or she comes to a conclusion, the individual can’t effectively communicate why. Analysts should be able to adapt their communication skills to different audiences without problem. The individual should know how to speak with business partners, the CFO and coworkers, so that everyone is on the same page.

A new financial analyst should be able to immediately join a team and break down the intricacies of proposed investments.A new financial analyst should be able to immediately join a team and break down the intricacies of proposed investments.

This person should also be a leader who can handle him or herself when thrown into the fire. The individual will likely have to contribute very quickly, as he or she is being hired to free up time for other tasks. Guiding them along for months would be a drain on resources. Look for someone who is ready and willing to  jump into a team and contribute. One way some hiring managers like to test candidates is by having them profile a business entity. If he or she can take on this task and present a thorough portfolio with strong investment advice, then the person will likely be able to contribute sooner rather than later, a huge plus.

A financial analyst can prove to be a huge benefit on the investment front, and should not be overlooked by CFOs as a resource to ensure responsibilities don’t pile up too high.

 

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