Who Are Financiers And Why Do Businesses Need Them?

With the emergence of the first states came the people who ran the treasury-the first financiers. The familiar term “finance” came into use in the days of the Templars, in the XIII-XV centuries, in the merchant cities of Italy. Today, the financier profession has come to the forefront in matters of business innovation and digitalization. It is they who help companies transform and stand firmly on their feet, even in an era of change.

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What a financier should be able to do

For a successful career, a finance professional first and foremost needs hard skills:

What soft skills will be useful in this sphere:

Advantages and disadvantages of the job

Career prospects

Finance is now an independent area and no major decision in a company is taken without the financier’s involvement. Now he’s a full-fledged partner who helps the company make smart and informed decisions based on numbers. We get in the cockpit of the plane called business and help it fly in a given direction with minimal risks and maximum financial results.

Financiers can work in a variety of industries, from banking and auditing to FMCG and IT. This profession will always be in demand, as it changes in response to what’s happening in the world. Finance professionals help companies calculate risk, reduce costs, or increase the return on a product. Most importantly, they are the ones who can minimize or even prevent financial losses.

The profession is badly needed in all sectors of the economy. FMCG, IT, science, consulting, pharmaceuticals, telecom, retail, industry – you can work anywhere. After all, finance is an integral part of improving any business.

What a financier should be able to do

For a successful career, a finance professional first and foremost needs hard skills:

– An understanding of accounting. A professional should be able to prepare and read financial statements.

– Financial modeling skills. A financial model is a tool that helps to forecast business development, calculate various indicators and prevent possible risks.

– Knowledge of office programs. Even better is the ability to program at least at a basic level. The profession is transforming, and the familiar Excel is no longer enough. Programming languages give you the ability to visualize data. For example, to create dashboards and use them to study the dynamics and trends.

– General erudition in economics. This is a base for every financier. It gives an understanding of how business is organized and how markets work.

What soft skills will be useful in this sphere:

Professional flair. A financier is responsible for mitigating and preventing the many risks that can be associated with business. Therefore, the ability to anticipate future events is one of the key skills.
Sociability. This specialist’s job requires a lot of contact with different departments in the company and external stakeholders. This is why it is so important to be able to communicate and network.
Initiative. A financier should have a proactive position. After all, he is the one who helps the business move forward.

What should a person aspiring to a career in finance be like? He has a specialized education – financial or economic. He has a sincere interest in mathematical modeling methods, collecting information and analyzing it. And most importantly – a high level of erudition in the financial field.

Advantages and disadvantages of the job

Pros:

Good prospects. The profession is in demand in any business, which means you can work in different companies and get a variety of experiences that open up new opportunities.
Constant Growth. Finance reacts instantly to changes in the world. This keeps members of the profession on track: to prepare for new challenges, you have to engage in self-development.

Cons:

High workload. Many professionals regularly overwork – they work more than 10 hours a day. In addition, they have to constantly monitor the current situation on the market. Such a busy rhythm can lead to burnout and chronic fatigue.
Great responsibility. A single financial worker’s blunder can cost the company colossal losses.

Career prospects

There are several stages in a financier’s journey from intern to director – the key person in finance. The intern works closely with the manager. In the specialist position, most of the time is spent on technical tasks and self-development. The next stage is manager. From this grade an employee starts to gain managerial experience, and in the next position he or she will have to manage global changes in the company’s business.

In order to speed up career growth, experts advise to show yourself and take more responsibility. Even in the trainee position you can offer improvements – the manager will appreciate your desire to grow. And, of course, you should not forget about the development of your horizons. The financial and economic field is changing very rapidly, so it’s important to constantly learn.

Don’t be afraid to be creative! Only the one who does nothing is not mistaken. It may be a hackneyed phrase, but it absolutely reflects reality. Experiment with approaches, try to do something new – this is the only way you will gain experience and understand how to act.

Author’s Bio: Jean Hartley is a content writer in write my essay service, that provides quality assistance for students. Jean also manages to lead several projects and she is going to blog about it on YouTube.