Tag Archives: Skills

Finance

Five Tips On Developing Your Skills As A Finance Manager

The function of a Finance Manager is to provide financial information and advice in order to facilitate the process of making effective business decisions. This essentially involves conducting detailed research and analysis, implementing clear budgetary planning and ensuring the existence of proper and sound financial procedures, along with mechanisms of control, that are in line with statutory regulations. The role and responsibilities of a finance manager can vary greatly with the size and nature of a company, public or private. In larger organizations the focus may be on strategic analysis, whereas in smaller companies it might be solely concerned with the management of accounts. Whatever the business circumstances ongoing personal development and finance training is vital in honing skills fundamental to performing the task.

 

A Finance Manager should be the master all the financial tools at his disposal. Not only knowing how to, but more importantly when to, utilize databases and spreadsheets thereby realizing their maximum potential. In practice, it is the ability to apply these tools and synthesize an enormous amount of data, in order to solve problems and present information in a relevant and coherent manner. Given such a context it is critical to consider the personal style of colleagues, in essence, transforming data into meaningful conclusions.

 

A Finance Manager must have a thorough understanding of the company’s goods, markets and technical processes. This creates extra value feeding directly into financial analyses and ultimately business decisions. An in depth knowledge of its sources of revenue, computer network, manpower and distribution system will facilitate perceptions of revenue components and costs. For example if 40% of a company’s revenue is derived from one product this will have a huge bearing upon financial projections.

 

A Finance Manager has to demonstrate an ability to manage change. It involves developing an understanding of external factors such as the actions of competitors and government activities. The skill here is in the ability to anticipate changes and developments in industry and the economy generally determining their impact both at the macro and micro level. This in turn enables models to be created outlining the possible determinations arising from such factors and sharing them with colleagues.

 

A Finance Manager needs to be an effective communicator to obtain customer feedback and to interact well with co workers. There is implicit in this a requirement to know the customer as well as fellow managers and other staff. The purpose is to determine how the service can be improved interacting frequently with customers clarifies their demands. In addition, making suggestions on how financial information should be received such as tables or graphs and giving recommendations for beneficial procedural changes.

 

A Financial Manager must be able to unlock the truth contained within data. The ability to take a sheet of statistics crammed full of numbers and quickly and efficiently provide meaningful conclusions about critical facts and details in a clear and succinct fashion, is essential. This is a hugely important skill and has to be fine tuned and developed more so than any other.

Finance

Enhance Your Financial Skills through Finance Assignment Help

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Banking

Skills Needed For Banking Jobs

If you are thinking of getting one of those banking jobs, particularly as a bank teller, then you need to know some of the basic skills to possess in order to succeed on that job. Once you know what traits that the management people are looking in you, searching for your preferred bank can now start. Needless to say, but being a bank teller is one of the most secure jobs among the many banking jobs because banks will be around for a long time.

Identifying the traits and skills needed to land a job as a bank teller. Obviously, you need to know how to count money to become a teller. You need this skill because you will be counting money all day. If you can’t count money or at the very least do it accurately all the time, you will lose that job the next day. You see bank tellers count money very quickly, and you think it’s an easy job. But, in reality, it isn’t easy the way you think it is. Ask a few tellers to share with you their techniques in counting money.

Customer Service. Apart from counting money all day, tellers talk to their customers all day. Customer service skills are necessary for a bank teller. Review and polish your skills in customer service because nearly all banking jobs would need it, so to speak. Even if you are not applying as a bank teller, effective communication to customers can make or break a business as far as your company is concerned.

Reconciliation. You need to balance your drawer at the end of the day that means all must count even. And if you don’t, then you’ll be facing serious trouble and face the risk of losing your job. That is why apart from couning the customer’s money very quickly, bank tellers will have to do it with extreme caution.

Fake Bills. Failure to identify fake money can put serious risk to your job as a bank teller. Try to be very careful every time you accept money and checks. There are ways to detect forged checks and fake bills, so you have to study those.

Working as bank teller is a prestigious and rewarding job. You will have the chance to deal with all sorts of people, work on normal hours and definitely a good source of income. Those skills described above are the most common ones, but it does not end there, as most banks will enlist you to a training program to broaden your knowledge. Once you have the right skills, you are now ready to send your application to the banking jobs that you are most interested in.

The author is an expert in the field of banking and extensive knowledge to help those seeking careers in banking. Areas of expertise in fact include any qualified route to finding banking jobs. To search and apply for thousands of banking jobs go to http://bankingjobs1.co.uk

Finance

Finance Jobs – Top 10 Skills Needed In Finance Jobs

In businesses I’ve observed, Finance departments often face silent derision or disrespect. Part of it is an us-versus-them mentality that comes out of the front office staff who feels their jobs are more difficult because they deal with customers (compared to Finance, who deal with numbers). And no one from the front office sends memos to the back office saying “please spend less time crunching the numbers” but it can feel like the back office is constantly memo-ing the front office with “watch this expenditure” or “spend less on client lunches”.

Unfortunately, this view is supported by management at all levels that give Finance the nasty job of accounts receivable, the inputting-heavy job of accounts payable, and the dull job of budget forecasting. Compared to the highly creative marketing department and the edge-of-the-seat, in-the-trenches feeling of the sales department, finance is like the broccoli side dish on a plate of steak and fries.

But it doesn’t have to be this way! Finance departments shouldn’t be relegated to the back office in the hopes that their sharp pencils won’t poke a customer in the eye! Finance departments can and should play a far more important role in the organization. Here are some ideas. Finance should be more about business strategy than number prophecy. When the Finance department hounds the sales managers to get in their budgets and then turns them around for a final target budget for the year, their role is reduced to mere numerical interpreter. But what if Finance sat down with sales and talked to them about how their numbers connected to expected outcomes? Finance should be more about opportunity. Many sales managers have some limited view into which customers are sending business. But the view isn’t always perfect. Or complete. Finance should get involved to show how a customer is really impacting the business’ bottom line. If Finance and Sales talked to each other, Sales might be shocked to discover that their biggest client is actually less valuable than expected because of the amount of work involved in keeping them as clients. Finance should be selling, too. When Finance gets the job of following up on accounts receivables, they can potentially do more harm than good. Finance people are highly skilled at numbers, and they might be good “people-oriented” staff, but they are rarely trained in the art of sales. However, when a Finance person, tasked with accounts receivables, gets adequate training in receivables AND customer service AND sales, their success rate at getting the receivables paid can increase, but so will their success rate at winning more business.

There are so many more opportunities, too. Businesses should be using their accounts payable list as a prospecting list. They should be temporarily swapping roles between Finance and Sales for brief “see-how-the-other-side-does-it” days to enable new appreciation and new connections. Finance should sit in on sales calls to see why Sales sometimes feels like they need to bend the rules to close the deal (and Sales should shadow the work of Finance so they know what work needs to happen at the back-end if they don’t assess risk adequately during the sale).

To learn more about finding finance jobs, please visit http://www.accountingcrossing.com and sign up for a FREE trial to gain access to ALL of the many exclusive job listings we offer in the accounting profession. Silas Reed, Writer for AccountingCrossing, writes articles that inform and teach about different accounting job profiles.