Planning Your Financial Studies To Move Forward In Your Career

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Planning your financial studies is critical to move forward in your career; let me explain why. Every financial role demands certain skills, qualifications, and technical talents. However, the development path is far from over once you’ve acquired the certifications you need to excel in your role. In this fast-paced and complex industry, top performers constantly look for ways to enhance their value, add to their CVs, and pave the way for future opportunities.

Part of investing in your career path as a financial professional is determining how you’ll invest in your professional development and cultivate the right competencies.

A clear strategy for ongoing professional and personal development ensures you can thrive in your current role and consistently move forward into new positions and environments where you can unlock your full potential. Here are some areas candidates should focus on as they map a lucrative future in the financial sector.

1. Building Resilience and Emotional Intelligence

Take a multifaceted approach when planning for future growth in the financial sector. While technical skills are crucial, soft skills, particularly those related to resilience, agility, and emotional intelligence, are becoming increasingly important to success in this landscape.

The global SAS report from late last year found that 97% of executives now consider resilience crucial to employee success. However, only 25% of leaders say their teams are highly resilient.

As the financial landscape continues to change incredibly, surfacing new challenges such as economic uncertainty and digital transformation, employees need to cultivate their resilience. You can prepare yourself to adapt to various challenges by:

  • Adopting a growth mindset: A growth mindset helps you to sidestep the fear of failure and commit to constantly improving and enhancing your skills. It can help you become more adaptable and agile in a changing sector.
  • Strengthening emotional intelligence (EQ) is a crucial skill for finance professionals. The ability to manage one’s emotions and understand the emotions of others can lead to better collaboration, leadership skills, and client relationships.
  • Enhancing soft skills: Soft skills like communication, time management, and strategic decision-making will help you to stay resilient and connect effectively with your colleagues in a difficult landscape.

2. Developing Technical Skills

The technical skills employers and business leaders search for in financial candidates are also changing as the market adapts to new technologies and innovations. The technical talents you must pursue can vary depending on your role and career goals.

Employees moving into leadership positions may need to work on their abilities connected to financial modelling, management, and analysis. Understanding how to examine a company’s financial situation, forecast future opportunities and risks, and mitigate challenges will be crucial in the years ahead, particularly as regulations change.

Some technical skills will also become increasingly relevant in various financial roles. For instance, there’s an increasing demand in this sector for employees with:

  • Data analysis skills: Most financial roles require employees to understand how to collect, analyse, and share data. Your ability to work with reporting tools, conduct market assessments, and present findings to teams will be extremely valuable.
  • Digital literacy: As new technology enters the market, from artificial intelligence and automation to new accounting software, digital literacy is becoming more crucial. The more comfortable you are with the latest technologies, the more valuable you’ll be to your employer.
  • Process automation skills: Finance employees who know how to automate certain tasks effectively can streamline their schedules and become more efficient. Knowing how to automate risk analysis, financial forecasting, and reporting aspects can be extremely useful in the current market.

3. Finding an Experienced Mentor

The financial industry is moving through a rapid period of change. New challenges and opportunities are constantly emerging, from the transition to the cloud and the rise of generative AI to increased risks connected to cyber fraud and data loss.

A commitment to constant upskilling and development can help you navigate this complex market, but you can take your chances of success to the next level with the right guidance. An experienced mentor doesn’t just provide access to valuable training initiatives and support. They can also help build confidence in the financial sector and strengthen your professional network.

A mentor will help you identify and develop strategies for your career goals. They’ll ensure you can see your strengths and weaknesses and give you behind-the-scenes insights into your challenges in new positions.

Mentors can even assist you with complex conversations in your current career, helping you to prepare for salary negotiations or request new development opportunities from your employer.

4. Gaining Wider Exposure

As you progress through your financial career, exposure to different environments, roles, and opportunities can help you make informed decisions about how to develop and grow. The more insight you have into the landscape, the easier it is to ensure you’re moving in the right direction based on your skills and priorities.

Gaining “exposure” in the financial market can involve everything from attending industry events, conferences, and workshops to taking on projects aligned to your current role. You might explore commercial reporting opportunities or shadow other team members in your sector.

Gaining wider exposure also allows you to develop new skills aligned with strategic problem-solving and market analysis. You’ll learn more about the financial industry, its emerging challenges, client trends, and customer preferences, which can make you a more valuable addition to any financial team.

Plus, you could learn how to develop your brand more effectively and showcase your skills to potential employers.

5. Gaining Management Experience

Even if you’re not directly pursuing a leadership role in the financial sector, gaining experience and skills related to leadership can be extremely lucrative in your career. If your aspirations include exploring management roles one day, you should be able to navigate the complexities of supervising and managing teams and motivating other team members.

Gaining management experience can start with taking on “leadership” positions in your organisation by volunteering to lead a project or guide other team members. It could mean mentoring or coaching other new employees in your organisation or working alongside managers to achieve specific business goals.

Gaining management experience will not only improve your chances of getting a promotion or moving into a higher-paying role. It can also ensure you develop crucial business acumen in the financial sector and learn how to collaborate more effectively with your colleagues. Management experience can also assist with boosting your problem-solving and project-management skills.

Planning for Success in the Financial Industry

In an environment as competitive and fast-moving as the financial sector, a commitment to constant development is crucial for any employee. Creating a comprehensive strategy for how you’re going to cultivate the skills and competencies employers are looking for in 2024 will give you a critical edge as you work towards your short and long-term career goals.

Working with a financial recruitment company like Rebus Recruitment can also help, giving you the direct guidance and insights you need to decide which skills and abilities you should develop.

Thanks

 

Rachel

About Rebus Financial Recruitment

Rebus Financial Recruitment provides a specialist and focused recruitment service to its customers, ranging from various organisations, including SMEs, to large PLCs.

We strive to offer both the client and candidate a seamless recruitment experience. Using our expertise, we understand employer and employee needs and match them perfectly.

To learn more, contact one of our team members today or call us at 01282 930930.

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