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Looking to turn your knack for numbers into a career in finance? Find out how having the right skills in this field helps professionals turn confusing financial data into a clear story that really adds up. 

Finance skills are both hard and soft skills used to make financial decisions and solve problems. Such skills are  helpful for anyone seeking a career in finance, whether that be financial management, underwriting or accounting.

Each finance role requires a unique set of skills and levels of experience. For example, mathematics, data processing and tax knowledge might apply best to a role in accounting. Analytics, data management and technical skills might apply well to a role in financial analysis. However, many skills are necessary across all finance roles.

Financial skills aren’t just important to place on a resumé; they’re necessary for offering sound financial advice, gaining trust and helping clients overcome cognitive biases. Plus, they apply to the four key areas of finance: corporate, banking, investing and fintech.

Those who seek roles in finance should demonstrate key skills on their resumé. The skills should be placed below the resumé heading and be relevant to the finance role you specialize in.

However, it’s not always enough to simply list such skills. Candidates who have finance experience should include accomplishments that demonstrate how their skills were put to the test. For example, noting accomplishments such as guiding clients to successfully invest for retirement help candidates demonstrate their strengths and previous success.

Accounting is a key skill employers in finance look for. It doesn’t necessarily mean having an accounting background. It’s about possessing the ability to read and understand the data in balance sheets, cash flow statements, income statements, yearly reports and other financial documents. The findings from these documents can help company leadership understand the organization’s financial health and long-term plans.

Finance skills such as statement analysis can come in handy when examining important financial documents and getting insights into how a company performs. It involves using financial ratios to analyze performance metrics.

For example, a current ratio determines the ability for a company to pay short-term expenses. A quick ratio determines if a company can use liquid assets to meet its short-term financial obligations. A debt-to-equity ratio divides an organization’s liabilities to get insights into its financial efficacy. 

Those seeking leadership positions in finance need sound decision-making capabilities. A company’s leadership devotes time to grasp the organization’s objectives, purpose and strategy, but the pathway to meeting these goals is often driven by financial expertise. Making financial decisions based on data gives company leaders a clear framework to follow.

Additionally, finance knowledge and financial management skills can benefit managers across all departments. For example, managers may encounter tasks such as estimating the financial impact of a project by calculating return on investment. 

While many finance professionals focus on analyzing past data, the ability to anticipate future trends can be just as important. Financial reporting involves forecasting a company’s future financial outcomes by analyzing historical metrics such as revenue, expenses, sales and cash flow.

Since this skill enables business leaders to make informed decisions in budgeting, hiring and strategic planning, employers often find this ability highly valuable. There are different types of forecasting, but cash flow forecasting stands out for its role in helping companies maintain financial stability. Businesses, after all, need to ensure cash availability to meet financial obligations.

For many companies, revenue from goods and services alone isn’t typically sufficient for sustained financial growth. Companies can increase their profits beyond their core operations through capital allocation and investments. However, investing often carries greater risk than simply launching a new product. That’s where candidates with strong investment skills come in. 

Careers in finance require a set of core technical skills, including proficiency in spreadsheets, financial modeling and business intelligence. Staying ahead of the curve with financial technology requires finance professionals to be adaptive. They may need to learn to use new tools and software quickly as companies upgrade. Currently, tools and software used in finance include:

• CRM apps: Allow financial professionals to automate client outreach, track tasks and connect with other finance tools.
• Financial planning tools: Help with assessing cash flow, planning retirement and optimizing taxes. Some financial planning tools come with AI integration to make analysis and personalization more efficient.
• Portfolio management tools: Help finance professionals analyze performance, run risk reports and view client assets from multiple vantage points.
• Trading/rebalancing software: Helps finance professionals align client portfolios with their goals and investment strategies by automating trading and rebalancing.
• Investment analytics tools: Used to access comprehensive data on asset classes and securities to identify investment ideas with ease.
• Risk tolerance analysis tools: Gauges client risk tolerance through advanced surveys and algorithms. Additionally, such tools are used for building portfolios that align with clients’ preferences.
• Document management software: Enables secure file storage and digital signing and helps maintain regulatory compliance. 

While hard finance skills are often job specific and can be developed through training, soft skills are more subjective and broadly applicable. 

Employers in finance typically seek candidates who possess management skills. While this can apply to managing personnel, it can also apply to managing projects. In fact, creating a company’s budget demands these skills as does overseeing various aspects of an organization’s capital structure and financial reporting.

Communication skills in finance may include delivering clear messages in meetings or creating well-structured financial documents.

An effective communicator must also be able to explain complex financial jargon in layman’s terms. This ability is rooted in financial literacy, which is the knowledge and application of financial statements, terminology and concepts.

For example, after releasing a monthly commission statement, a sales representative may question the figures. Clear communication can help promptly address these concerns, build trust and prevent future misunderstandings.

When working in finance, things don’t always go smoothly. As a result, being prepared for the unexpected and thinking outside the box can be useful qualities. Solving problems requires the ability to overcome obstacles, prioritize responsibilities and act fast while using good judgment. 

Emotional intelligence is the ability to recognize and manage emotions, both in oneself and in others. While finance is driven by numbers and data, recognizing and using emotional intelligence on both the advisor and client sides can help prevent rash decisions while improving long-term financial outcomes.

Finance can be a highly sensitive and impactful field. Even the smallest error or oversight (e.g., a typo or a miscalculation) can have serious consequences. That’s why keen attention to detail is one of the soft skills every candidate should possess to manage budgets, handle invoices, process payroll and perform other financial responsibilities. 

Those who lack organizational skills in finance risk errors from rushed work or missed deadlines due to inefficiencies.

Organization is a must-have in finance, especially when overseeing extensive data, complying with strict deadlines and maintaining both accuracy and regulatory compliance. It involves the ability to evaluate processes to eliminate wasted time, ensure accuracy and optimize resources.

Additionally, many roles in finance involve juggling multiple tasks and duties.

Want to learn finance skills? ������Ƶ offers the Bachelor of Science in Finance and Technology online degree program.

To learn more about this program, reach out to UOPX for more information.