How to work effectively in the finance sector | Aleksandar Stojanović, MSc. posted on the topic | LinkedIn (2024)

a deep dive on the skills you need to harness to be where you invision yourself

This is us. Plase take a look at the types of #Finance Professionals and an interesting #analysis of their main #skills and role. #finance #teamfinance #financeskills

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🌟 Understanding the different roles within the finance sector is crucial for personal and professional growth. Each role comes with unique responsibilities and skillsets that contribute to the overall success of the organization.🔍 Take a glimpse at the breakdown of 6 types of finance professionals:- CFO: Strategic planning, leadership, and risk management- Controllers: Accounting, financial reporting, and regulatory compliance- FP&A Managers: Financial modeling, analytical skills, and business acumen- Internal Auditors: Risk management, regulatory compliance, and analytical tasks- Finance Analysts: Financial modeling, analytics, and reporting- Accountants: Accounting skills, financial reporting, and regulatory complianceThese insights can be invaluable when considering career paths within the finance domain. The roles and responsibilities may vary depending on the industry and project, but understanding this breakdown is a solid foundation for career planning and role comprehension. For more insightful content, follow Aleksandar Stojanović, MSc. and Business Infographics to stay updated on the latest trends and best practices in the finance sector.#FinanceProfessionals #CareerGrowth #FinancialRoles #ThoughtLeadership

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Modern internal audit does not look like this, it is a governance (strategic/business accumen) risk management, and a controls expert. Not even on this chart.

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Types of Finance ProfessionalsCredits toAleksandar Stojanović, MSc., follow him for more insightful content.------Here's the original post:6 Types of Finance ProfessionalsAre you aligned with your financial role?Is your team leveraging its strengths?In the financial sector, different roles come with unique responsibilities and skillsets.Here's a brief insight ⤵️• 𝗖𝗙𝗢𝘀 are heavily invested in strategic planning, leadership, and risk management, often overlooking the entire financial spectrum.• 𝗖𝗼𝗻𝘁𝗿𝗼𝗹𝗹𝗲𝗿𝘀 play a key role in accounting, financial reporting, and regulatory compliance, ensuring financial integrity.• 𝗙𝗣&𝗔 𝗠𝗮𝗻𝗮𝗴𝗲𝗿𝘀 focus on financial modeling, analytical skills, and business acumen to drive business growth.• 𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝗹 𝗔𝘂𝗱𝗶𝘁𝗼𝗿𝘀 specialize in risk management, regulatory compliance, and analytical tasks to ensure internal control.• 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗔𝗻𝗮𝗹𝘆𝘀𝘁𝘀 are adept at financial modeling, analytics, and reporting to support data-driven decisions.• 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀 emphasize accounting skills, financial reporting, and regulatory compliance for precise record-keeping.Generally, CFOs and FP&A Managers might spend more time connecting to business stakeholders for strategic decisions, while Controllers and Internal Auditors focus more on regulatory and compliance tasks.Finance Analysts and Accountants are more involved in financial modeling and reporting.These titles and responsibilities can be interchanged in some job descriptions, and the weight of these skills also depends on the industry and project.But this breakdown is still quite helpful when planning career paths or understanding the roles within a finance department.-------FollowBusiness Infographicsto learn from the best visuals.

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A guide for Finance Professionals to what skills need to be worked on

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It's all about precision and meticulousness. Accountants excel in analyzing and interpreting financial data, ensuring compliance, and maintaining accurate records. Personality Traits:Accountants thrive in structured environments, exhibiting strong organizational skills and a natural affinity for numbers. Diligent and detail-oriented, they ensure financial integrity.✅ Biggest Skills: Attention to detail, data analysis, bookkeeping, compliance, and financial reporting.Finance: Strategic NavigatorFinance takes a broader perspective, managing and optimizing financial resources to achieve business goals. Finance professionals are strategic thinkers, making informed decisions based on financial trends, budgets, and risk management. Personality Traits:Finance professionals are analytical thinkers and risk-takers. They have a strategic mindset, excel in problem-solving, and navigate complex financial landscapes.✅ Biggest Skills: Financial analysis, budgeting, risk management, investment strategies, and financial planning.Collaboration:Their skill sets are complementary: While accountants provide foundational financial data and ensure compliance, finance professionals use this information to make informed decisions, manage resources, and drive financial strategies.Whether you excel in precision or strategic thinking, both paths offer abundant opportunities to make an impact in the dynamic world of business!

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The Evolution of the Finance Business Partner and Finance Strategy Business Partner: A Personal PerspectiveThroughout my professional journey, I have witnessed firsthand the transformation of the roles of the finance business partner and finance strategy business partner. From mere financial analysts to strategic business partners, these finance professionals have come to play a central role in the success of modern organizations.For me, the role of the finance business partner is crucial. These professionals act as a bridge between the numbers and day-to-day operations. Instead of just producing static financial reports, they actively engage with leaders from other areas, understanding their needs and translating them into tangible financial insights.This collaborative approach not only enhances mutual understanding between departments but also leads to more informed and effective decisions. As a finance business partner, I firmly believe in providing proactive analyses and recommendations that drive operational efficiency and mitigate financial risks.However, it is the role of the finance strategy business partner that inspires me the most. These professionals do not settle for simply supporting daily operations; they are directly involved in formulating and executing corporate strategy.As a finance strategy business partner, I believe in the importance of integrating finance with long-term strategy. This involves meticulously analyzing the feasibility of new projects, evaluating investment opportunities, and ensuring that financial resources are allocated in a way that drives sustainable growth for the company.As we move forward into the future, I believe that the role of finance business partners and finance strategy business partners will continue to expand. With the increasing complexity of business and the need for rapid adaptation to market changes, these professionals will be even more essential in guiding companies towards success.Therefore, for me, investing in the development and empowerment of these talents is paramount. Through a collaborative and results-oriented approach, finance professionals can truly become agents of change and drive growth and innovation within organizations.#financeevolution #businesspartnership #strategicfinance #financeprofessionals #futureoffinance #collaborativestrategy #financialinsights #operationalefficiency #longtermstrategy #innovationinfinance

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For finance professionals, there are several key skills that are highly valued in the industry. Here are some important skills to consider including on a LinkedIn profile for a career in finance:Financial analysis: Finance professionals should have strong analytical skills and be able to interpret financial data, identify trends, and make informed decisions based on that data.Accounting: A solid understanding of accounting principles and practices is important for finance professionals, as they often work with financial statements, balance sheets, and other financial documents.Financial modeling: The ability to create financial models and projections is highly valued in the finance industry. This involves using data to create forecasts and scenarios that can inform financial decision-making.Risk management: Finance professionals should be able to identify and manage risks associated with investments, financial decisions, and other areas of the business.Communication: Strong communication skills are essential for finance professionals, as they often need to explain complex financial information to stakeholders who may not have a background in finance.Leadership: Many finance professionals hold leadership roles, so skills like team management, strategic planning, and decision-making are highly valued.Technology: Technology is playing an increasingly important role in the finance industry, so skills like data analysis, software proficiency, and familiarity with financial technology tools are important for finance professionals to have. #career #accounting #finance #financeandaccounting #data #business

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Types of Finance ProfessionalsOriginal Content Creator: Aleksandar Stojanović, MSc. (give him a follow)-----6 Types of Finance ProfessionalsAre you aligned with your financial role?Is your team leveraging its strengths?In the financial sector, different roles come with unique responsibilities and skillsets.Here's a brief insight ⤵️• 𝗖𝗙𝗢𝘀 are heavily invested in strategic planning, leadership, and risk management, often overlooking the entire financial spectrum.• 𝗖𝗼𝗻𝘁𝗿𝗼𝗹𝗹𝗲𝗿𝘀 play a key role in accounting, financial reporting, and regulatory compliance, ensuring financial integrity.• 𝗙𝗣&𝗔 𝗠𝗮𝗻𝗮𝗴𝗲𝗿𝘀 focus on financial modeling, analytical skills, and business acumen to drive business growth.• 𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝗹 𝗔𝘂𝗱𝗶𝘁𝗼𝗿𝘀 specialize in risk management, regulatory compliance, and analytical tasks to ensure internal control.• 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗔𝗻𝗮𝗹𝘆𝘀𝘁𝘀 are adept at financial modeling, analytics, and reporting to support data-driven decisions.• 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀 emphasize accounting skills, financial reporting, and regulatory compliance for precise record-keeping.Generally, CFOs and FP&A Managers might spend more time connecting to business stakeholders for strategic decisions, while Controllers and Internal Auditors focus more on regulatory and compliance tasks.Finance Analysts and Accountants are more involved in financial modeling and reporting.These titles and responsibilities can be interchanged in some job descriptions, and the weight of these skills also depends on the industry and project.But this breakdown is still quite helpful when planning career paths or understanding the roles within a finance department.__________________Original Content Creator: Aleksandar Stojanović, MSc. (give him a follow)

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