Senior financial analysts can be found in just about every industry there is. As long as a company is large enough to need a financial team, a senior financial analyst can usually be found there. Their primary duties are to review the finances of a company and make recommendations for how a company can lower costs and improve its financial situation.
A senior financial analyst is the leader of a group of financial analysts who work with the money the company they work for is spending and making in all areas of the business. They must be very diligent, detail-oriented, and accurate. Aside from making financial recommendations, a senior financial analyst also makes financial forecasts so a company has an idea of where it may be heading in its current state. Senior financial analysts also prepare and review financial reports. The working environment is usually in an office building in their own office and in a conference room. Working hours are normal business hours, Monday through Friday from 8 a.m. to 4 p.m. The tools for work are financial and statistical software, computers, telephones, pen and paper, and other typical office supplies. The senior financial analyst presides over a team of lower-level financial analysts, and usually reports to a director of finances.
Requirements for this position are at least a bachelor's degree in finance and financial analysis experience. This is a job that is highly desired, so most people need a master's of business administration to acquire the position. They must be very good with numbers and able to lead a team.
Senior financial analysts serve an important function for businesses. Their primary job is to save the company money. They must be innovative in seeing where cuts may be made to improve finances as well as recommend when money must be spent in certain areas to make more money back. Their job is also a stepping stone to becoming a top-level executive.
Senior Financial Analyst Tasks
- Assist with preparation of weekly, monthly and quarterly financial analysis schedules of actual vs. budget variances.
- Prepare detailed annual financial budget and monthly financial forecasts.
- Provide financial analysis support to various areas of the company.