Financial Analyst
What's it like to be a Financial Analyst?
Financial Analysts work for financial institutions like banks, insurance agencies, or wealth management firms. Their main tasks involve collecting data, monitoring the market, identifying trends, and providing recommendations. They are skilled experts who help businesses and individuals identify potential investment opportunities and assess the results of their business decisions to maximise profits. By analysing data on customer behaviour and economic conditions, Financial Analysts evaluate the performance of different businesses' investments, stocks, and bonds. They may also be tasked with ensuring that the organisation is compliant with regulatory laws.
Tasks and duties
- Analysing financial data and creating reports.
- Monitoring economic trends and making recommendations for improvement.
- Developing financial models and forecasts.
- Conducting variance analysis to identify trends and potential issues.
- Providing financial guidance to management and stakeholders.
- Evaluating investment opportunities and making recommendations.
- Conducting cost-benefit research and identifying opportunities for cost savings.
- Assisting with budgeting and forecasting processes.
- Ensuring compliance with financial regulations and standards.
- Collaborating with other departments to improve financial performance.
How to become a Financial Analyst
To work as a Financial Analyst you must have a bachelor degree in accounting, business administration, finance management, economics, or another relevant field. To advance in your career, acquiring a Master of Business Administration (MBA) and various accounting- or finance-related certifications will be necessary.
Finish a bachelor degree in accounting, business administration, or finance management.
Start at an entry-level position to gain relevant experience and apply Generally Accepted Accounting Principles (GAAP) set by the Malaysian Accounting Standards Board.
Acquire additional licenses such as Certified Public Accountant (CPA) from recognized organisations issuing permits and certifications.
Pursue post-graduate qualifications in subjects such as tax and accounting.
Consider potential opportunities for advancing to higher roles such as Fund Manager or Financial Manager.
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