The position of senior financial analyst requires high degrees of proficiency in analyzing accounting data, determining economic, statistical, and financial risks, and organizing real-world solutions that will lead to the successful completion of their projects. Senior financial analysts may be required to manage teams of analysts, which includes assigning tasks, reviewing reports, determining risks and rewards, compiling data, and organizing presentations for upper management. Senior financial analysts may also be responsible for training team members to develop additional skills and/or improve their existing skills.
As senior financial analysts are used in almost every industry and in all sizes of companies, the work environment may vary. This position could include traveling between offices or even traveling globally. A standard work week of 40 hours is common. However, as the complexities of the work may vary from company to company, the hours that a senior financial analyst is required to work will also vary according to business needs, critical deadlines, and the needs of management.
It is imperative to have at least a bachelor's degree, though a master's degree is preferable. Degrees in finance, accounting, business administration, economics, or entrepreneurship are helpful to the candidate. However, due to the competitive nature of this position, previous experience in financial analysis, management-level accounting, and management-level cost analysis can be very beneficial to candidates.
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.