Welcome to another edition of our Demystifying IT Series where we focus on explaining what different IT professions actually do in laymen’s terms and how as a Recruiter or Hiring Manager to best interview that particular profession.
Tips for Hiring Finance Business Analysts
In this week’s episode, we switch our attention to the role of a Finance Business Analyst, a role not to be confused with General Business Analyst. This week’s insights come from experienced Financial Business Analyst, Michelle Rawbone.
Watch the video below and find out all you need to know, as a Hiring Manager or Recruiter, when hiring and interviewing Finance Business Analysts.
Chapter 1: What are Some of the Differences Between a Business Analyst and Finance Business Analyst
Michelle explores the key differences between a Business Analyst and Finance Business Analyst including the use of terminology and, as Michelle suggests, Finance Business Analysts take a more analytical approach than the stereotypical Business Analyst.
Chapter 2: Key Information for the Interview Process
This chapter consists of the following four sections:
- Chapter 2.1 – Necessary Soft Skills
- Chapter 2.2 – Using the Right Terminology
Definitions:
- GL: A General Ledger is a chronological record of all of a business’s financial transactions.
- Accounts Receivable Ledger: A ledger kept to record all credit sales made by a business.
- Postings: The procedure of transferring debit and credit amounts to the ledger(s).
- Reconciliations: The process of determining that two sets of records are in agreement.
- Monthly Reporting: A monthly record of all financial statements
- P&L: Profit and Loss Statement is a record of all profits, costs and expenses over a period of time.
- Balance Sheet: A statement of all of a business’s assets, liabilities and capital at any one time.
- Chapter 2.3 – Warning Signs
- Chapter 2.4 – Testing Skills
In this section, Michelle comments on some of the requirements needed for her role, such as the need for an Annual Chartered Accounting Membership and the importance of Continuing Professional Development.
Chapter 3: How Important is International Experience?
As a Finance Business Analyst, having experience with other cultures can be invaluable to an employer. This section covers the benefits of a candidate having international experience.
Thanks to Michelle for taking part in our Demystifying IT series, your expertise on how to interview a Finance Business Analyst role will be valuable to many. If you would like to find out more about the specifics of a Financial Business Analyst role, you can take a look at Michelle’s Under the Hood episode.
Stay tuned for the next episode of our Demystifying IT series, where we will delve into another role within the IT industry.
In the meantime, feel free to get in touch with us today if you would like to take part in this series and share your knowledge on any roles within the IT industry.
In our previous blog we gave you advice on what to look for when hiring and recruiting Adwords and SEO specialists, featuring insights from General Manager of Results First, Kristina Trood.