What Finance Roles Will Be in Demand in 2023?

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It’s a good time to be a financial professional, especially considering the finance roles in demand this year. Demand for financial talent has been rising steadily for the last couple of years. Increasing talent shortages mean candidates have a range of opportunities available to them in the sector.

Labour Outlook Reports show in this time of impending recessions and economic downturns; companies are more actively searching for experts to help them manage their finances. In fact, 3 in 10 hiring managers now face significant competition when seeking out high-calibre professionals for their teams.

While demand for virtually all kinds of financial talent is on the rise, it’s worth noting that some roles are gaining more attention than others. The changing landscape means hiring managers are urgently searching for professionals who can help them manage budgets, cash flow, profit, and growth. At the same time, leaders are also on the hunt for expanding skillsets as innovative technologies like AI, machine learning, and automation enter the industry.

The Financial Roles With The Most Potential This Year

Overall, insights into the labour market show demand for new talent is high in every sector. 72% of employers plan on recruiting new talent in the first months of 2023, and only 13% say they’re planning to make any team members redundant.

As 83% of executives say they’re focusing their business strategy on “growth”, we can expect to see an increased demand for experts in the financial space with analytical and planning skills. Professionals capable of assessing data and using it to drive intelligent decisions will be extremely valuable to companies moving into 2023 and beyond.

Additionally, companies will search for candidates with exceptional digital literacy as the digital world continues to evolve, introducing new tools and technologies to the financial sector. Already, many companies have begun investing in strategies to upskill their teams with knowledge of AI and machine learning, embedded finance, blockchain, and security.

Some of the key roles with the most potential in 2023 include:

1.  Business Controller / Financial Controller

Business or Financial Controllers are essential in bringing a company’s vision of growth to life. These team members are responsible for supporting the business with various financial needs. They analyse reports and data to assist companies in making intelligent decisions for growth. They also know how to present information visually in a motivational way to help guide other professionals.

Business controllers frequently work alongside other professionals within the workplace to understand what drives the business. They create plans based on corporate goals and regularly evaluate the marketplace to identify new growth opportunities. Candidates applying for these roles must demonstrate an analytical mindset and a strong ability for problem-solving.

2. Management Accountant/ Accounting Manager

Management Accountants or Accounting Managers will be in high demand as companies strive to stay ahead of changing regulations and manage cash flows. These professionals are responsible for managing various accounting activities within the business. They help to ensure compliance with accounting principles, external audits, and internal policies. They also assist with accounts payable, payroll functions, and the preparation of reports.

Senior Accounting Managers will help reconcile accounts, send invoices, and track cash flow within a business. This will be particularly important at a time when companies are struggling to maintain good financial health in the face of an impending recession.

To work in a collaborative environment, the ideal candidate for this role must demonstrate flexibility, leadership capabilities, and exceptional communication skills.

3. Finance Manager

Finance managers are diverse professionals capable of helping companies to drive continuous improvement in their cash flow and financial health. They can prepare a range of crucial statements, including monthly accruals and profit and loss statements. These team members can also lead in the analysis of monthly and quarterly numbers.

Finance managers not only help businesses to make better growth decisions with the use of meaningful insights and reports. They can also consistently identify risks that might hamper business growth and propose solutions when necessary. As a Finance Manager, you may also be responsible for auditing various business and financial systems.

Ideal candidates will have a strong knowledge of finance and business acumen and should be able to work well with other members of a collaborative team.

4. Chief Compliance Officer

A core concern for many companies today is compliance. And a compliance finance role is critical. Businesses need to ensure their financial strategies are generating opportunities for growth and development without putting their companies at risk. According to many experts, Chief Compliance Officers will be in particular demand in 2023 as companies try to navigate new regulations.

CCOs are responsible for protecting the ethical integrity of companies by ensuring they meet all regulatory obligations. This requires a deep understanding of financial reporting and analytics requirements, taxes, and VAT statements.

Chief Compliance Officers need to audit processes related to money management and other business practices. They should also be able to offer training and guidance to other team members in a leadership capacity.

5. Auditing Expert

As the business world continues to shift, another finance role companies are increasingly searching for financial professionals who can audit and assess their ecosystems. Auditing professionals related to the financial industry can take on a multitude of varied roles.

Some experts may need to be able to audit the use of IT equipment and innovative new tools in the financial landscape, to determine whether they deliver a strong ROI without compromising on compliance. Others will focus on internal auditing processes to ensure companies remain compliant with tax and VAT requirements in the evolving business landscape.

For larger operations, group auditing specialists may be necessary. These professionals will need to be able to work with an affiliate, joint venture, and subsidiary accounts to determine potential risks and opportunities from a financial perspective.

The Changing Recruitment Landscape

This year, we can expect to see a greater focus from companies on hiring financial professionals who can help them grow, expand, and maintain cash flow. However, there will also be a greater need for professionals with auditing expertise, technical knowledge, and a clear understanding of compliance strategies.

Assessing the market as it stands today could be the first step you take in determining where your career plan should take you in 2023.



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 get to the heart of employer and employee needs, and, in doing so, we match the two perfectly. Contact one of our team today to find out more, or you can call us on 01282 930930.

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