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What Does A Lead Finance Analyst Do?

A lead finance analyst is responsible for monitoring the company's financial conditions, analyzing account statements, and resolving payment discrepancies. Lead finance analysts create expense reports and budget forecasting, as well as identifying business opportunities that would minimize loss and generate revenues for the business. They also oversee financial and business transactions, perform bank reconciliations, and manage outstanding payments. A lead finance analyst must have excellent analytical and communication skills, especially in discussing financial results to the management and recommending strategic techniques for cost-reduction activities.

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

  • Manage and train a team of twelve employees to create SQL audits to identify errors in electronic billing.
  • Develop, maintain financial models/applications (VBA Excel/Access) to automate and streamline business processes and perform financial analysis.
  • Post cash receipts daily, and ensure accurate reconciliation to banks and ERP system.
  • Authore documentation that detail changes in accounting processes, bringing them back in line with GAAP accounting.
  • Key contact for internal and external auditors for fix asset tracking, SOX controls, and system access.
  • Work with FRA to support audit, closing, impairment testing, SOX, tax and any other accounting requests.
  • Standardize processes in preparation of ERP implementation.
  • Ensure that rent calculations and yearly escalation methodologies follow GAAP accounting rules.
  • Provide financial reporting, budgeting/forecasting, processes improvement, KPI performance metrics, profitability analysis, and capital budgeting.
  • Create and deliver presentations, providing recommendations on short-and-long-range ROI, which include identifying key risk factors and forecasting investment viability.
Lead Finance Analyst Traits
Computer skills involves understanding how to operate a computer, as well as computer programs and applications.
Analytical skills have to do with gathering information from various sources and then interpreting the data in order to reach a logical conclusion that benefits the business.
Communication skills shows that you are able to relay your thoughts, opinions and ideas clearly to those around you.

Lead Finance Analyst Overview

When it comes to understanding what a lead finance analyst does, you may be wondering, "should I become a lead finance analyst?" The data included in this section may help you decide. Compared to other jobs, lead finance analysts have a growth rate described as "as fast as average" at 6% between the years 2018 - 2028, according to the Bureau of Labor Statistics. In fact, the number of lead finance analyst opportunities that are predicted to open up by 2028 is 20,300.

On average, the lead finance analyst annual salary is $94,364 per year, which translates to $45.37 an hour. Generally speaking, lead finance analysts earn anywhere from $67,000 to $131,000 a year, which means that the top-earning lead finance analysts make $64,000 more than the ones at the lower end of the spectrum.

It's hard work to become a lead finance analyst, but even the most dedicated employees consider switching careers from time to time. Whether you're interested in a more challenging position or just looking for a fresh start, we've compiled extensive information on becoming a finance planning manager, cost analyst, finance director, and control analyst.

Lead Finance Analyst Jobs You Might Like

Lead Finance Analyst Skills and Personality Traits

We calculated that 22% of Lead Finance Analysts are proficient in Financial Statements, Business Partners, and Ad-Hoc Analysis. They’re also known for soft skills such as Computer skills, Analytical skills, and Communication skills.

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

  • Financial Statements, 22%

    Conducted analysis of monthly financial statements and revenue and profit analysis for preparation of monthly, quarterly and annual financial presentations.

  • Business Partners, 4%

    Advise business partners on financial issues including reporting methodologies, business case support, accounting policy/procedure.

  • Ad-Hoc Analysis, 4%

    Perform Ad-hoc analysis on various initiatives to determine financial feasibility.

  • Key Performance Indicators, 4%

    Prepared quarterly and monthly management reports for senior management, including summarizing key performance indicators.

  • Balance Sheet, 3%

    Developed, consolidate & analyze P&L's, Balance sheet, Cash flow & Net Asset reports.

  • Financial Performance, 3%

    Analyzed and interpreted data, determining past financial performance of specific contracts and projected a financial probability of future savings.

"financial statements," "business partners," and "ad-hoc analysis" aren't the only skills we found lead finance analysts list on their resumes. In fact, there's a whole list of lead finance analyst responsibilities that we found, including:

  • Arguably the most important personality trait for a lead finance analyst to have happens to be computer skills. An example from a resume said this about the skill, "financial analysts must be adept at using software packages to analyze financial data, see trends, create portfolios, and make forecasts." Additionally, other resumes have pointed out that lead finance analysts can use computer skills to "oversee multi-office accounting/financial management in computerized environment. "
  • Another trait important for fulfilling lead finance analyst duties is analytical skills. According to a lead finance analyst resume, "financial analysts must process a range of information in finding profitable investments." Here's an example of how lead finance analysts are able to utilize analytical skills: "analyzed department activities, accounting policies and procedures for conformance with gaap and achievement of objectives. "
  • Communication skills is also an important skill for lead finance analysts to have. This example of how lead finance analysts use this skill comes from a lead finance analyst resume, "financial analysts must explain their recommendations to clients in clear language that clients can easily understand." Read this excerpt from a resume to understand how vital it is to their everyday roles and responsibilities, "demonstrated sense of urgency in mitigating risk to systems and financial goals, creating ad hoc communications as warranted. "
  • A lead finance analyst responsibilities sometimes require "detail oriented." The responsibilities that rely on this skills are shown by this resume excerpt: "financial analysts must pay attention to details when reviewing possible investments, as small issues may have large implications for the health of an investment." This resume example shows how this skill is used by lead finance analysts: "authored documentation that detailed changes in accounting processes, bringing them back in line with gaap accounting. "
  • As part of the lead finance analyst description, you might find that one of the skills that might be helpful to the job is "math skills." A lead 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: "prepared financial reports, trend analysis, statistics, and summary analysis. "
  • See the full list of lead finance analyst skills.

    After discovering the most helpful skills, we moved onto what kind of education might be helpful in becoming a lead finance analyst. We found that 68.9% of lead finance analysts have graduated with a bachelor's degree and 20.7% of people in this position have earned their master's degrees. While most lead finance analysts have a college degree, you may find it's also true that generally it's impossible to be successful in this career with only a high school degree. In fact, our research shows that one out of every nine lead finance analysts were not college graduates.

    Those lead finance analysts who do attend college, typically earn either a business degree or a accounting degree. Less commonly earned degrees for lead finance analysts include a finance degree or a management degree.

    Once you've obtained the level of education you're comfortable with, you might start applying to companies to become a lead finance analyst. We've found that most lead finance analyst resumes include experience from Lumina, Deloitte, and Citigroup. Of recent, Lumina had 103 positions open for lead finance analysts. Meanwhile, there are 14 job openings at Deloitte and 10 at Citigroup.

    If you're interested in companies where lead finance analysts make the most money, you'll want to apply for positions at Oracle, Intuit, and Entergy. We found that at Oracle, the average lead finance analyst salary is $125,058. Whereas at Intuit, lead finance analysts earn roughly $124,726. And at Entergy, they make an average salary of $124,067.

    View more details on lead finance analyst salaries across the United States.

    If you earned a degree from the top 100 educational institutions in the United States, you might want to take a look at IBM, Lockheed Martin, and JPMorgan Chase. These three companies have hired a significant number of lead finance analysts from these institutions.

    The industries that lead finance analysts fulfill the most roles in are the technology and finance industries. But the highest lead finance analyst annual salary is in the utilities industry, averaging $119,659. In the telecommunication industry they make $107,063 and average about $104,274 in the technology industry. In conclusion, lead finance analysts who work in the utilities industry earn a 42.4% higher salary than lead finance analysts in the manufacturing industry.

    The three companies that hire the most prestigious lead finance analysts are:

      What Finance Planning Managers Do

      A finance planning manager oversees the budget and finance development processes within a company. Their responsibilities revolve around analyzing financial records, participating in auditing processes, producing reports and forecasts, and coordinating with different company personnel to obtain accurate data. A finance planning manager must also utilize fiscal tools, devise new business strategies and opportunities, and keep abreast of all the company's upcoming projects. Furthermore, as a manager, it is essential to lead and encourage the team, all while implementing the company's policies and regulations.

      We looked at the average lead finance analyst annual salary and compared it with the average of a finance planning manager. Generally speaking, finance planning managers receive $18,454 higher pay than lead finance analysts per year.

      While their salaries may differ, one common ground between lead finance analysts and finance planning managers are a few of the skills required in each craft. In both careers, employees bring forth skills like financial statements, business partners, and key performance indicators.

      There are some key differences in responsibilities as well. For example, a lead finance analyst responsibilities require skills like "ad-hoc analysis," "sql," "data analysis," and "ensure accuracy." Meanwhile a typical finance planning manager has skills in areas such as "business performance," "business development," "business leaders," and "kpi." This difference in skills reveals how truly different these two careers really are.

      Finance planning managers really shine in the finance industry with an average salary of $112,401. Whereas lead finance analysts tend to make the most money in the utilities industry with an average salary of $119,659.

      The education levels that finance planning managers earn is a bit different than that of lead finance analysts. In particular, finance planning managers are 6.9% more likely to graduate with a Master's Degree than a lead finance analyst. Additionally, they're 0.6% less likely to earn a Doctoral Degree.

      What Are The Duties Of a Cost Analyst?

      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.

      Now we're going to look at the cost analyst profession. On average, cost analysts earn a $31,450 lower salary than lead finance analysts a year.

      A similarity between the two careers of lead finance analysts and cost analysts are a few of the skills associated with both roles. We used resumes from both professions to find that both use skills like "financial statements," "financial performance," and "special projects. "

      While some skills are similar in these professions, other skills aren't so similar. For example, several resumes showed us that lead finance analyst responsibilities requires skills like "business partners," "ad-hoc analysis," "key performance indicators," and "balance sheet." But a cost analyst might use skills, such as, "project management," "cost models," "cost data," and "pivot tables."

      It's been discovered that cost analysts earn lower salaries compared to lead finance analysts, but we wanted to find out where cost analysts earned the most pay. The answer? The energy industry. The average salary in the industry is $79,955. Additionally, lead finance analysts earn the highest paychecks in the utilities with an average salary of $119,659.

      On the topic of education, cost analysts earn lower levels of education than lead finance analysts. In general, they're 17.2% less likely to graduate with a Master's Degree and 0.6% less likely to earn a Doctoral Degree.

      How a Finance Director Compares

      A finance director's role is to oversee all financial activities and aspects of a company or organization. One of their duties is to gather necessary financial data and cultivate reports on essential matters such as revenue and budget, provide risk assessments and estimates, implement vital policies, and allocate funds within the company. Furthermore, a finance director must also devise strategies and recommend innovative methods for financial gains, while in adherence to the organization's policies and regulations.

      The third profession we take a look at is finance director. On an average scale, these workers bring in higher salaries than lead finance analysts. In fact, they make a $39,878 higher salary per year.

      Using lead finance analysts and finance directors resumes, we found that both professions have similar skills such as "financial statements," "key performance indicators," and "balance sheet," but the other skills required are very different.

      As mentioned, these two careers differ between other skills that are required for performing the work exceedingly well. For example, gathering from lead finance analysts resumes, they are more likely to have skills like "business partners," "ad-hoc analysis," "sql," and "data analysis." But a finance director might have skills like "cpa," "payroll," "oversight," and "customer service."

      Finance directors make a very good living in the finance industry with an average annual salary of $163,123. Whereas lead finance analysts are paid the highest salary in the utilities industry with the average being $119,659.

      When it comes to education, finance directors tend to earn lower education levels than lead finance analysts. In fact, they're 8.5% less likely to earn a Master's Degree, and 0.3% less likely to graduate with a Doctoral Degree.

      Description Of a Control Analyst

      A control analyst is a professional who is responsible for identifying weaknesses in the work process of an organization and implement methods to minimize risks. Control analysts are required to supervise the process for incident reports and provide technical guidance to their personnel. They must prepare monthly general ledger account analysis and balance sheets reconciliations that are according to the generally accepted accounting principles (GAAP). Control analysts should also assist with the organization's ISO audit procedures and findings.

      The fourth career we look at typically earns lower pay than lead finance analysts. On average, control analysts earn a difference of $23,865 lower per year.

      While both lead finance analysts and control analysts complete day-to-day tasks using similar skills like financial statements, balance sheet, and special projects, the two careers also vary in other skills.

      Even though a few skill sets overlap, there are some differences that are important to note. For one, a lead finance analyst might have more use for skills like "business partners," "ad-hoc analysis," "key performance indicators," and "financial performance." Meanwhile, some control analysts might include skills like "procedures," "risk assessments," "customer service," and "project management" on their resume.

      Control analysts earn a higher salary in the insurance industry with an average of $71,888. Whereas, lead finance analysts earn the highest salary in the utilities industry.

      In general, control analysts reach lower levels of education when compared to lead finance analysts resumes. Control analysts are 20.2% less likely to earn their Master's Degree and 0.6% less likely to graduate with a Doctoral Degree.