A financial business analyst is also referred to as a business analyst who recommends and enforces corporate efficiency and profitability methods. Financial business analysts analyze the business model and finances of an organization. Their findings serve as the source of their suggestions to improve businesses' budgeting, management, and overall operations. They have the ability to predict the outcome of the decisions made by enterprises. The skills necessary for this job include interpersonal skills, management experience, financial reporting, and strong communication skills.

Business & Finance Analyst Responsibilities

Here are examples of responsibilities from real business & finance analyst resumes representing typical tasks they are likely to perform in their roles.

  • Manage and maintain DCAA approve accrual record keeping system while maintaining GAAP standards.
  • Lead company in Essbase implementation and developing a centralize and standardize reporting process.
  • Develop, maintain financial models/applications (VBA Excel/Access) to automate and streamline business processes and perform financial analysis.
  • Conduct data analysis using SQL.
  • Manipulate and run labor reports weekly using Hyperion for account financial measures and assumptions.
  • Analyze huge sets of data using SQL and excel for ensuring data quality and issues.
  • Perform key measurement ratios and graphs, monthly financial statement analysis models using standard GAAP format.
  • Create new GL codes and map the old codes for the ERP migration and for structure financial reporting.
  • Work to insure the transfer from legacy systems and other programs to the new ERP system are correct information.
  • Perform monthly reconciliations within a robust control environment for the purpose of identifying substantial discrepancies.
  • Develop, monitor and investigate transactional KPIs to diminish potential losses and increase overall approval rates.
  • Analyze securities markets for different portfolio, validate trade surveillance and trade reporting to the difference stakeholders.
  • Work closely with Hyperion vendor to communicate and co-ordinate new business requirements and resolve functional and technical issues.
  • Maintain elements of domestic and/or international ledgers including the preparation and/or review of relate journal entries and reconciliations.
  • Present findings and analysis to executive level management and work collaboratively with management in decision making processes regarding the asset portfolio.

Business & Finance Analyst Skills and Personality Traits

We calculated that 13% of Business & Finance Analysts are proficient in Financial Analysis, Business Analysis, and Shared Services. They’re also known for soft skills such as Analytical skills, Communication skills, and Computer skills.

We break down the percentage of Business & Finance Analysts that have these skills listed on their resume here:

  • Financial Analysis, 13%

    Design and maintain revenue reporting, financial analysis and performance tracking to assist management decision making and improve understanding of issues.

  • Business Analysis, 6%

    Handled general ledger activity and prepared financial statements for several business segments within Engineering Business Analysis group.

  • Shared Services, 5%

    Provided complete end to end support for internal shared services IT billing and budget applications.

  • Financial Data, 4%

    Coordinate business planning and budgeting process, delivering financial data analysis and overall financial integrity of the business plan.

  • Strong Analytical, 4%

    Prepared weekly cash management/short-term cash flow models, long-term financial forecasts and departmental budgets utilizing strong analytical and MS excel skills.

  • Process Improvement, 4%

    Managed process improvement projects for Treasury/Finance/Operations.

"financial analysis," "business analysis," and "shared services" aren't the only skills we found business & finance analysts list on their resumes. In fact, there's a whole list of business & finance analyst responsibilities that we found, including:

  • Analytical skills can be considered to be the most important personality trait for a business & finance analyst to have. According to a business & finance analyst resume, "financial analysts must process a range of information in finding profitable investments." Business & finance analysts are able to use analytical skills in the following example we gathered from a resume: "created an ms access-based database with advanced query functionality using vba and sql. "
  • While it may not be the most important skill, we found that many business & finance analyst duties rely on communication skills. This example from a business & finance analyst explains why: "financial analysts must explain their recommendations to clients in clear language that clients can easily understand." This resume example is just one of many ways business & finance analysts are able to utilize communication skills: "developed, distributed, and tracked various forms of navair navy erp business office communications. "
  • Business & finance analysts are also known for computer skills, which can be critical when it comes to performing their duties. An example of why this skill is important is shown by this snippet that we found in a business & finance analyst resume: "financial analysts must be adept at using software packages to analyze financial data, see trends, create portfolios, and make forecasts." We also found this resume example that details how this skill is put to the test: "implemented use of specific computer based valuation and appraisal programs to analyze financial database"
  • In order for certain business & finance analyst responsibilities to be completed, the job requires the skill "detail oriented." According to a business & finance analyst resume, "financial analysts must pay attention to details when reviewing possible investments, as small issues may have large implications for the health of an investment." As an example, this snippet was taken directly from a resume about how this skill applies: "authored data flow diagrams, use case diagrams and business process models with special detail to sub-processes. "
  • As part of the business & finance analyst description, you might find that one of the skills that might be helpful to the job is "math skills." A business & finance analyst resume included this snippet: "financial analysts use mathematical skills when estimating the value of financial securities." This skill could be useful in this scenario: "conducted quantitative analysis of financial data to forecast revenue, identify future trends, and assess risk associated with projects. "
  • See the full list of business & finance analyst skills.

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    What Cost Analysts Do

    Cost Analysts are employees with a strong background in finance or accounting. They are in charge of collecting financial data and analyzing the entries. They study the company's expenses and prepare pertinent reports. Cost Analysts look for inconsistencies in the financial data. This way, they can assist in auditing the company's spending. Cost Analysts also look for inefficiencies. They do so by tracking item costs and department budgets and monitoring department expenses. They are also involved in budget-setting activities.

    In this section, we take a look at the annual salaries of other professions. Take cost analyst for example. On average, the cost analysts annual salary is $16,356 lower than what business & finance analysts make on average every year.

    Even though business & finance analysts and cost analysts have vast differences in their careers, a few of the skills required to do both jobs are similar. For example, both careers require financial analysis, business analysis, and financial data in the day-to-day roles.

    There are some key differences in responsibilities as well. For example, a business & finance analyst responsibilities require skills like "shared services," "business process," "financial models," and "hyperion." Meanwhile a typical cost analyst has skills in areas such as "cost estimates," "dod," "project management," and "cost models." This difference in skills reveals how truly different these two careers really are.

    Cost analysts tend to make the most money in the automotive industry by averaging a salary of $76,426. In contrast, business & finance analysts make the biggest average salary of $82,379 in the finance industry.

    On average, cost analysts reach lower levels of education than business & finance analysts. Cost analysts are 9.6% less likely to earn a Master's Degree and 0.1% less likely to graduate with a Doctoral Degree.

    What Are The Duties Of a Senior Technical Business Analyst?

    Senior Technical Business Analysts are experienced employees who primarily work on business improvements. They review business processes and other operations-related procedures in relation to the current business landscape. They should be familiar with the trends in the industry and how these trends affect the company. They should also be familiar with the company processes, people's capabilities, and other context-setting information related to the business. Senior Technical Business Analysts work with different departments to get a holistic view of the company. This would help them recommend action plans and next steps to address the company's challenges and ensure that the company overcomes these challenges.

    Next up, we have the senior technical business analyst profession to look over. This career brings along a higher average salary when compared to a business & finance analyst annual salary. In fact, senior technical business analysts salary difference is $35,393 higher than the salary of business & finance analysts per year.

    Not everything about these jobs is different. Take their skills, for example. Business & finance analysts and senior technical business analysts both include similar skills like "business analysis," "shared services," and "strong analytical" on their resumes.

    But both careers also use different skills, according to real business & finance analyst resumes. While business & finance analyst responsibilities can utilize skills like "financial analysis," "financial data," "financial models," and "hyperion," some senior technical business analysts use skills like "project management," "user stories," "scrum," and "business stakeholders."

    It's been discovered that senior technical business analysts earn higher salaries compared to business & finance analysts, but we wanted to find out where senior technical business analysts earned the most pay. The answer? The energy industry. The average salary in the industry is $122,449. Additionally, business & finance analysts earn the highest paychecks in the finance with an average salary of $82,379.

    In general, senior technical business analysts study at similar levels of education than business & finance analysts. They're 2.9% less likely to obtain a Master's Degree while being 0.1% more likely to earn a Doctoral Degree.

    How a Finance Analyst/Accountant Compares

    In a company setting, a finance analyst/accountant is in charge of handling and monitoring financial activities, ensuring efficiency and accuracy. Their responsibilities revolve around preparing financial reports, performing audits and risk assessments, and identifying any errors and inconsistencies, resolving them promptly and efficiently. They also conduct research and analysis to identify new business opportunities, evaluate the existing procedures to determine its strengths and weaknesses, and recommend solutions to optimize operations for financial growth. Furthermore, as a finance analyst/accountant, it is essential to uphold the company's policies and regulations, including its vision and mission.

    The third profession we take a look at is finance analyst/accountant. On an average scale, these workers bring in lower salaries than business & finance analysts. In fact, they make a $7,539 lower salary per year.

    By looking over several business & finance analysts and finance analyst/accountants resumes, we found that both roles utilize similar skills, such as "financial analysis," "financial data," and "strong analytical." But beyond that the careers look very different.

    There are many key differences between these two careers as shown by resumes from each profession. Some of those differences include the skills required to complete responsibilities within each role. As an example of this, a business & finance analyst is likely to be skilled in "business analysis," "shared services," "business process," and "hyperion," while a typical finance analyst/accountant is skilled in "general ledger accounts," "payroll," "external auditors," and "account reconciliations."

    Additionally, finance analyst/accountants earn a higher salary in the finance industry compared to other industries. In this industry, they receive an average salary of $78,897. Additionally, business & finance analysts earn an average salary of $82,379 in the finance industry.

    When it comes to education, finance analyst/accountants tend to earn lower education levels than business & finance analysts. In fact, they're 7.2% less likely to earn a Master's Degree, and 0.2% less likely to graduate with a Doctoral Degree.

    Description Of a Contractor-Business Analyst

    A contractor-business analyst is responsible for analyzing business processes and strategizing on efficient project management techniques to enhance productivity goals and achieve maximum performance. Contractor-business analysts conduct data and statistical analysis to determine areas of improvement and identify business opportunities that would generate more revenue resources and increase profits. They also review client accounts, measure sales performance, and design solutions by utilizing various software applications and system tools. A contractor-business analyst advises the management of necessary training for the staff to enhance services and close more business partnerships.

    Contractor-business analysts tend to earn a higher pay than business & finance analysts by about $16,888 per year.

    While their salaries may vary, business & finance analysts and contractor-business analysts both use similar skills to perform their jobs. Resumes from both professions include skills like "financial analysis," "business analysis," and "financial data. "

    While some skills are shared by these professions, there are some differences to note. "shared services," "strong analytical," "financial models," and "hyperion" are skills that have shown up on business & finance analysts resumes. Additionally, contractor-business analyst uses skills like project management, data entry, user stories, and bi on their resumes.

    The average resume of contractor-business analysts showed that they earn similar levels of education to business & finance analysts. So much so that the likelihood of them earning a Master's Degree is 4.8% less. Additionally, they're more likely to earn a Doctoral Degree by 1.5%.