Top 5 Attributes Of A Successful Finance Professional

Good maths, good organisation and tech-savvy, what more is there? Finance might sound like it's all about numbers, calculations, and spreadsheets, and sure, they’re all vital components…

But if you've just started your finance career or you’re a student aiming for a finance career, you need to know that just being good at maths is a big misconception as it’s far more than this – especially if you’re highly ambitious.

So, keep reading as we talk through the top 5 key attributes you need to progress in the world of finance.

Detail Oriented 

The obvious reason for an eye for detail is so people don’t get surprises when it comes to paychecks and invoices… of course, any employee will be happy to see an extra zero on their payslip, but your company definitely won’t be. But this isn’t all there is to it.

The biggest financial decisions and strategies, whether it’s at operational or board level, will be based on the numbers you produce day-to-day. This means it’s not just crucial to be accurate sometimes, it’s crucial to be accurate all the time. 

Not to mention, without accurate information, you’ll be unable to identify real trends, patterns, and anomalies. Analysing data will become a vital skill as you move up the finance career ladder. 

DriveN

Finance professionals can often have a million things to do at the same time, while being incredibly rewarding, it can also require high levels of focus and drive to ensure delivery. But anyone in finance knows whilst work ethic is key, they also need ambition to constantly improve and go above and beyond.

If you want to have a truly successful career and enjoy regular promotions, settling for doing what’s asked of you might not get you there. The finance professional who’s driven to:

• Improve processes to make them more efficient

• Support team members with questions and training

• Provide in-depth and analysed reports 

• Keep up to date with the market and the business's goals

Is one that won’t just reap the benefits personally, but they’ll make a real impact in their company as they support individuals of all levels. 

Driven individuals are trusted individuals, something that is so necessary to be a finance professional. If you want to be a finance leader where board members and shareholders to trust your judgement, you have to go above and beyond to prove you’re worthy of their trust. 

Not to mention, if you’re about to or already studying for finance qualifications, it can be a lot of work to study for exams and qualifications alongside working full-time – even if you are provided with study leave. So being driven to look forward and see the benefit of all the hard work you’re currently putting in. It’ll then equip you as you continue to progress in your career because you’ve been capable of optimism, resilience, and drive during these tough times.

Adaptability

No business is the same, so no business’ financial function is the same.

Every company does finance slightly differently, whether it’s different software, the way the hierarchy works, or the kind of information and reports desired by management. And in all honesty, your very role, even if you kept the same job title, could change drastically from company to company – usually due to how big or small the finance department is.

That being said, if you move companies you need to not just be able to adapt, you need to be willing to adapt and understand where the company is right now and how you can help them to move forward.

But even if you stay in a single company, the industry is constantly evolving and businesses are always going through different growth plans so it’s vital to still stay prepared for changes and use your skills to make those changes run smoothly.

Certain changes could be:

• A new software

• A change in management

• A change in the finance department which changes your daily responsibilities

Change is uncomfortable and disrupts the day-to-day and sometimes, can completely change the trajectory of a long-term plan, but they can be extremely beneficial in the long run, so it’s important to embrace them.

BUSINESS ORIENTED

As we mentioned at the start, finance isn’t just about numbers. A large part of it is actually about business. 

This is especially noteworthy if you take on the role of a Finance Business Partner where your responsibilities would consist of:

• Analysing financial reports and delivering insight

• Building financial models to anticipate future performance

• Attracting investment and building partnerships

• Meeting financial targets and driving operational change

So every successful finance professional with a similar role as this will have and continue to develop a complete overview of the business they work for. They will be working closely with every part of the business. They’ll work to understand how each department functions to make sure it’s in alignment with good financial practices, as well as acknowledging the company’s overall financial vision. 

This is also essential for the business to grow correctly. The successful finance professional will know where to increase focus and make cutbacks when necessary. They’ll also be aware of the business’s products, the market in which it’s under, and competitors. This is key for releasing new products, how to price them, and where to sell them, so the business stays ahead of the curve. 

STRATEGIC

It’s one thing to be good at numbers, but it’s another thing to make sense of those numbers and use them to bring about change.

The purpose of any senior finance professional is to bring a strategic mindset to the leadership team. 

Markets change rapidly, and new policies & regulations are always introduced to the industry which means it can heavily affect a business. Leaders can only work to combat this if they have someone who brings financial expertise. This would be through:

• Looking ahead and anticipating changes

• Knowing whether to increase or decrease spend (and where)

• Having a clear and concise plan of development

This is especially critical if you’re working for a startup, scaleup or SME with ambitious growth plans. Businesses like these are still working to build solid practices so without a strategic financial mind, they can be at high risk of either spending too much or not taking advantage of the market at the right time and missing a key opportunity. 

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