Financial Management is a tough nut to crack. It’s not as simple as a regular accountancy job. This is a specialized and classified area of accountancy, which requires finely honed skills and assets. As per Arnon Dror , an expert in finance and accountant, a degree in accounting, finance or economics is the first step of towards this career. However, having a degree alone will not get you placed. In fact, having a bachelor’s degree will make you eligible for an accountancy job in this competitive world.
Although the minimum eligibility criteria for a financial manager’s job still remains yet it’s dynamics has changed considerably over the last few years. Earlier, not many people knew about this profession and this was not much in vogue. An accountant’s job would be regarded same as that of a finance manager. Now situations have changed and so has the demand for this job profile. Based on the current scenario there are some essential skills and qualifications which one needs to possess in order to be a successful financial manager.
Qualification: The minimum qualification required for this job is that of a bachelor’s degree. A degree in finance, accounting, business management or economics will suffice for this role. However, as time has progressed more and more students are opting for a Master’s Degree. Recruiter too looks for an added credentials hence they seek to employ master’s students. The importance of economic knowledge has opened up the field for economics majors who weren’t the conventional choice earlier. Keeping in mind, the global scenario, recruiters are looking for economists who can bring more to the table. Not just the understanding of the business world but also of the world economic condition and hence work in that context.
- Experience: Apart from qualification, the experience is a vital aspect of this profession. As it is a more classified field and concerns with working with creditors, investors, distributors and other such external forces that form the crucial outer authority of an organization, hence a clear working knowledge of this field is required. For this, they look for candidates having an experience of more than 5 years in the finance or accounting sector. Further experience in a managerial position is an added advantage.
- Certification and License: Mere having an experience and qualification isn’t enough to be successful in this field. One requires undertaking a good amount of training after which they will get a certificate and will be licensed by competent authorities. Exams such as CFA also hold importance in this area. Arnon Dror Portland says Chartered Financial Analyst is a specialized CA exam, which arms financial managers with the license and credentials to work in this sector.
- Skills and Assets: Next line is your skills and assets. This job profile requires various top class skills like leadership qualities, analytical and reasoning skill etc. While these 3 are the fundamental basis of job in this field others are the invaluable assets you must process. These invaluable assets are organizational skills, critical thinking, an eye for details, the power to solve all kinds of problems, a strong and fluent mode of communication and a mathematical mind.
A successful financial manager is a mixture of all these things in the correct proportion. Together they hold the key to your success.