“Wealth consists not in having great possessions, but in having few wants.”
The above-enlightened words by the Greek philosopher Epictetus sheds light on the human nature of keeping their wants under check for greater wealth reserves. The same principle can be applied in financial organisations, too, wherein having fewer wants and focusing on fulfilling the priorities that can positively affect the economy are way important. Corporations operating in the current digitalised world need to be mindful of maintaining liquid flow of cash, assets and other monetary aspects.
Finances: Understanding the Numbers Game
The role of financiers has become pivotal in maintaining and sustaining financial health and adopting technologies that can lead to organisational growth. The variety of finance courses in India offer great perspectives over the various facets of this sector. Moreover, with impetus being laid on rationally analysing financial procedures, the XLRI financial analytics program can prove resourceful for learners who want to shift to such job roles.
Financial management has spread its tentacles across several fields today, be it ensuring good capital, financial and equity health or avoiding compromising situations such as the emergence of risks, debts and outstanding payments to creditors. As per the changing landscape of each domain and their transformation to make businesses digitally reliant, there are certain traits that aspiring financiers need to imbibe for success in these sectors.
Traits that Young Financiers need to Imbibe
Suppose there was something as more demanding and rewarding as the passing of the ACCA exam. In that case, it could be the cultivation of characteristics and traits that define the ideal finance manager. Management of finances and keeping a check over the financial accounts might sound like a number-crunching game, but there’s more to it than what meets the eye. Financial managers need to be good leaders and possess an aura that convinces people of working towards a shared goal that reaps results for the corporation.
Numerous finance courses in India teach learners about the top traits that define a successful financial manager and provide the mechanisms for their cultivation. In the long run, a company’s survival boils down to how the ideas are communicated, whether the team members feel valued and if the decisions are backed by reason or emotions.
What is the best trait to become a financial manager?
Here are some of the definitive traits that help financiers embark on a successful career:-
Must Possess an Analytical Mindset
With financial analytics taking the finances forward in the modern era of data-driven world, there’s more than ever a need to develop an analytical mindset. The ability to dig deeper into the surface level problems and seek conclusions has become a big part of managing finances.
The XLRI financial analytics program teaches the step by step process of collecting historical data and assessing it for generating insights. Furthermore, the data sets that lead to conclusive evidence need to be aligned with the corporate’s preferences.
Ability to Perform Under Pressure
Financial management deals directly with finances, accounting procedures, and monitoring monetary factors such as assets, liabilities, cash flows, and other metrics. Given the stringent information that managers deal and work with daily can make their roles demanding and challenging. There’s great proximity for burnouts and stress.
However, managers need to channelise their stress proactively and deploy frameworks that are conducive for their companies. Successful financial managers can perform under pressure and deliver results at strict deadlines.
Terrific Numerical Proficiency
Finances involve regular tallying of credits and debits that constitute an organisation, keeping a tab over the savings and other financial accounts, performing calculations and solving equations about a firm’s dynamics and surveying the financial landscape for finding any anomalies.
All these practices require outstanding numerical proficiency and swiftness with performing mathematical operations. The amount of quantitative data worked on by financial managers regularly requires mastery over numerical concepts and computations.
The traits listed above form the crux of the financial world, and upcoming and aspiring finance enthusiasts must imbibe these characteristics. The ability to perform calculations with analytically driven data under challenging circumstances are the key determiners for successful financial managers.
These traits form the backbone of embarkment on a thriving financial career.
Embarking on a Successful Career in Finance
Be it starting a career in financial risk management or as an analyst; the employers look for certain specific particulars while choosing their preferred financiers. A few critical components increase the chances of getting hired by recruiters and help young finance advisors and managers embark on their dreamed career.
Some of these components include the following:-
A formal Degree in Finance
Recruiters look for applicants that have a prior understanding of finances and its neighbouring fields. Therefore, getting a degree in finance is a must; moreover doing an MBA post the same can help attract lucrative career opportunities for financiers.
Getting Adequate Certifications
Financial certifications are important for financiers to stand apart from fellow applicants and increase their chances of getting hired. Credible finance courses in India offer certified programs such as the XLRI financial analytics that equip professionals with knowledge of vital concepts and principles.
The certifications show the drive and motivation of applicants in learning skill-sets in their free time and makes them ideal for acquiring high-paying roles.
Possessing the Right Set of Skill-sets
Skilful financial managers can traverse through the role’s challenges and offer practical solutions. The cultivation of the right skill-sets such as communication, quantitative and qualitative skills, rational thinking, ability to lead team members during desperate times and others will assist aspiring financiers in stepping up in their careers.
Professionals upon the time of recruitment need to show their past experience of working under similar roles. Gaining entry-level experience working as finance personnel for a company can open new doorways for moving up in the career ladder.
Embark on a Successful Financial Journey Today!
The article above provides the resources for upcoming and young financiers to embark on a successful career in financial domains. Developing and acquiring descriptive traits and skill-sets that conform to the various financial roles can help executives get a stable job role.
Several finance courses in India provide the course modules for making learners capable of acquiring their dream financial roles. The XLRI financial analytics is an excellent program for young financiers to understand the sector’s silos.