A junior financial analyst is responsible for assisting senior analysts in various accounting and/or financial management duties. Depending on the structure and function of the organization, a junior financial analyst may be part of the finance or accounting department. Duties may include gathering and analyzing market data, as well as drafting financial reports. Data collection may take place through research, interviews, and Internet searches. Analysis is typically communicated through written financial and statistical reports. Accounting tasks tend to include preparation of monthly accounting statements, analysis of internal financials, monitoring budgets, and documenting variances. At the discretion of the senior team members, a junior financial analyst may also be called on to make recommendations.
Junior financial analysts generally work in an office setting during regular business hours, although overtime may be required depending on the needs of the company. . Depending on the organization, they may work with clients or with internal resources.
Education requirements typically include at least a bachelor’s degree in finance, accounting, business, economics, or a related field. Because the junior financial analyst is required to perform data analysis, the ability to use advanced functions of spreadsheet software such as Microsoft Excel is required. Much of the data gathered and used by junior financial analyst are stored in databases, so the ability to use database software is a desirable skill among individuals employed in this role. Companies also tend to look for individuals with the ability to work independently with minimal supervision.
Junior Financial Analyst Tasks
Analyze business processes and procedures to identify areas of weakness; offer solutions to improve operations.
Prepare financial reports on market trends, customer analysis, statistics, costs and margin structures.
Analyze and interpret financial and market data to provide logical, repeatable explanations.