Find out everything you need to know about becoming a Financial Analyst.
Job Title – Financial Analyst
Description
A Financial Analyst is responsible for financial planning, analysis and projection for companies and corporations. They forecast future revenues and expenditures to establish cost structures and determine capital budgeting for projects. Senior-level financial analysts work with CFOs and other executive-level team members to set company-wide investment direction and policies.
Typical Job Activities
Financial analysts leverage strong accounting and compliance backgrounds to explore historical financial data, predict future results and drive process and policy improvements. Day-to-day responsibilities for financial analysts include:
Analyses current and past financial data and performance
Prepares reports and projections based on this analysis
Evaluates current capital expenditures and depreciation
Explores investment opportunities
Establishes and evaluating profit plans
Identifies trends in financial performance and providing recommendations for improvement
Coordinates with other members of the finance team to review financial information and forecasts
Provides financial models and forecasting
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Related Occupations
Financial reporting manager
Investment analyst
Educational Requirements
High: 3-4 years University/Technikon Studies
Senior Certificate with matric exemption for a degree course
Senior Certificate for a diploma course
Compulsory subjects: Mathematics
Recommended subjects: Accounting, Economics and Business Economics
What natural skills and/or aptitudes do I need for this occupation?
Need to have expert-level analytical and financial modelling skills
Be a strategic thinking
Have great presentation skills
Have the ability to influence and persuade
Have knowledge of ERP systems and related technologies
Have a strong understanding of Sarbanes-Oxley
Have excellent time management and organizational ability
Have the ability to multitask and meet constant deadlines
Have the willingness to work long hours, when necessary
Be able to manage change and risk
Have excellent communication skills and the ability to communicate financial issues with non-finance professionals and volunteers
Have problem solving ability
Be a strong team player
Have excellent interpersonal skills
Have good planning and organisational skills
Be able to prioritise workload and meet strict deadlines
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Employment Opportunities
High
Market Competitiveness
Moderate
Income Potential
High
Self-Employment Options
High
International Employment Market
High
Possible Employers
Government - national, provincial, local councils and related organisations like universities
Big private companies
Medium or small Companies
Self-employed: Contractor, consultant, own practice, freelance
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Relevant Contact Details
The South African Institute of Chartered Accountants
www.saica.co.za
South African Institute for Business Accountants
https://saiba.org.za
Career Progress and Path
Further Studies in the specific career field
Further studies in related fields
Experience in specific field
Work performance
Experience in related fields
Do presentations, seminars, publish articles, etc.
General management studies
Possible Career Paths
Specialist career in the specific field
Management positions in the specific field
Management positions in related fields
General business management
Executive positions
Consultant/ contractor/ own practice/ freelance
Own business
Employment Stability
Very stable
Reasons to consider this career
To become a manager
To face intellectual challenges
To focus on a specific field
To start my own business
To apply my special skills
