Who is a financial analyst? What are the responsibilities

Such a huge number of professions has appeared in the modern world that it is sometimes difficult to imagine what a specialist in a particular field is doing. And since finance is the most important industry, working with them attracts a large number of university entrants and their graduates. So, the profession of “financial analyst” raises many questions regarding its essence and tasks.

A young but very promising profession

In the modern labor market, a financial analyst is a new specialist, but very necessary. Of course, many unenlightened people are lost at the mention of this profession and do not know if there are any differences between the analyst and the trader. It is worth noting that with a certain similarity there are still differences in the content of the activity. From the name itself, you can outline the main occupations and responsibilities of a financial analyst. Obviously, he works in the field of finance and is engaged in their analysis. When working with finances, a certain clarity and attentiveness is required. Analysis of the situation should be of high quality. But finance is a very vast area with many subsections, so it is not surprising that the services of a specific specialist are required for a particular section. So, a financial analyst can work with the securities market, monitor the performance of a financial company or a specific sector of the economy. This option is also possible when the analyst works with the entire economy as a whole. Thus, the work of each specialist is evaluated according to an individual system and is determined by the specifics of the enterprise where he works. Today, the main areas of work are the stock, currency and commodity markets.

Wolf legs are fed. But finances will not be superfluous …

In general, analysis is a complex process that cannot be carried out in one step. It is best to divide it into parts. First of all, you need to collect all relevant information, monitor the market. Next, you have to systematize all the data and identify the main trends. The information obtained allows us to compile a general picture of events and identify important changes. A detailed and high-quality analysis of the situation in the financial market can predict the further course of events with the issuance of recommendations regarding behavior and further strategies in the market. Therefore, we can summarize and say that the goal of the work of a financial analyst is to make a forecast, as well as issue recommendations. If a financial analyst clearly fulfills his duties, then, following the algorithm of actions prescribed by him, profit can be expected.

The important gear in the global machine

Each specialist in the company, both young and developing, as well as stable and growing, should take his place justifiably. A financial analyst is the engine of a company. His responsibilities include monitoring the situation in the financial markets, analyzing the work of the company and competitors, regularly advising on financial issues, as well as compiling daily analytical reviews and reports. A financial analyst is the person who portends the "weather" in the market and gives his forecasts as to where the wind blows and how to be safe in case of "rain". Also, the analyst can develop an investment portfolio for his clients with economic recommendations for tendering, in addition, create information materials for publication in the media.

What is analytics and how to deal with it?

From the outside it may seem that there is no particular difficulty in this work, but how superficial is this point of view! A financial analyst must fulfill his duties perfectly, otherwise he does not bring benefit to his company and cannot take his place. Progress in the work is demonstrated by the dividends received from his recommendations and forecasts. The work of a financial analyst is primarily associated with certain financial risks that can be avoided if you have the appropriate skills and knowledge.

What should a specialist in the financial industry know?

A financial analyst should be distinguished by extensive knowledge of the economy and interest in deepening his knowledge and regular training. Also, the specialist must constantly analyze the existing changes in the stock and financial markets, having the skills to prepare appropriate financial statements. In addition, it will be useful to consider the economic activity of a particular enterprise and market in general.

Each company has its own list of minimum requirements that a financial analyst must meet. The minimum program involves higher education in the specialty, at least one year of experience, as well as knowledge of the basic tools of financial analysis and computer skills at the level of an experienced user. Since the main value of the analyst lies in the accuracy of forecasts, an important component will be the presence of an analytical mindset and a certain financial insight.

Document fixing the tasks, functions and responsibilities of a specialist

At each enterprise, there is a job description for a financial analyst, which a hired specialist must adhere to. So, according to this document, the analyst belongs to the category of specialists who are appointed and removed from office by order of the general director of the enterprise. The order should indicate a potential substitute in the absence of a financial analyst. The analyst must know the legislative and regulatory acts that regulate production, business and financial and economic activities, tax, civil, banking and administrative laws, as well as laws on advertising, accounting and the securities market. In his work, he is guided by the law of the Russian Federation and the charter of the company, as well as orders of the leadership and job description.

The work process of a financial analyst

The functional responsibilities of the analyst are based on the analysis of the organization, its economic side and the work of competitors. The feasibility of concluding contracts, the adequacy of financial reports and the available indicators depend on what the final forecast of financial analysts is. Their forecast allows us to assess the level of financial risk, give timely recommendations on investment time and purchase and sale transactions. In their work, financial analysts use statistical methods of cost estimation, search for and systematize the necessary information and solve operational issues of production activities with third-party institutions and organizations.

What is a finance specialist responsible for?

It is in its competence to carry out a qualitative analysis of the information available in compliance with current instructions, orders and instructions. If in the process of work financial analytics involves problems and solutions in the field of administrative, criminal and civil legislation of the Russian Federation, then an appropriate level of responsibility is possible. Causing material damage by a financial analyst is punishable within the limits determined by the labor and civil legislation of the Russian Federation.

Profession of a dream, or What is so attractive about working with finances

A financial analyst is a professional expert with an economic education and specialization in a specific sector of the market. As a professional, he should be attentive, responsible, competent in the matter under consideration, have a high reaction rate and analytical thinking. Responsibilities of the analyst include researching companies issuing shares with the preparation of recommendations for all operations with securities. His work is not endless seminars with reading newspapers and writing reports. If you are thinking about how to become a financial analyst, it is better to be up to date with the situation. Probably, in the first years you will have to work in the database in Excel, compile the data and organize it over different periods. Have to go on business trips and perform routine tasks. In practice, you will notice that many young specialists do not withstand the monotony and uniformity of tasks, so they switch to another job.

What is work?

The popularity of this profession is determined by its proximity to the financial sector and the high social status of a financial analyst when working in a reputable company. The ability to work with large amounts of data, scrupulousness and accuracy allow us to work as efficiently and quickly as possible to gain respect in the team. With the proper level of knowledge and experience, the financial analyst becomes the most prominent figure in the company, as he turns into an oracle, each word of which entails an immediate reaction from others and, if events are successful, implies an increase in the rating of a specialist.

What are the prospects for a specialist in work?

A specialist with no work experience, but with a prestigious diploma and additional accounting courses can qualify for an initial salary of $ 800 at the initial stage of his career. If you have experience of up to three years, payment increases to $ 1,000. More serious experience and additional education add another 500 dollars to the salary. Extra-class analysts get about two thousand y. e. Thus, a higher education is not the last step for the growth of financial analyst. The bonus will be received profile education, a master's program and an MBA program. The price of a specialist in Russia is significantly increased by education received abroad, or an internship completed there. But the experience gained in other countries may not be sufficient if you want to work in Russia. Therefore, before starting your career, it is better to take an internship at the enterprise. In addition, the presence of eloquence will be an extremely important condition for career growth for any specialist in this field of activity. For most people, making cash investments is too serious a step, which involves breaking up with a significant part of their own savings, so not everyone can convince a potential investor. And the rating of trust in the company depends entirely on the analyst. A client who is convinced of the capabilities and power of this specialist will definitely come back to him again, which is why seminars and workshops are held at many enterprises where financial consultants share their knowledge and demonstrate opportunities in practice.