What does a senior finance specialist do?
A finance specialist sells products and services at a financial institution. Finance specialists meet with customers to have a better understanding of their respective needs. The specialists offer insight into the trends in the financial market. They provide a suggestion on optimization strategies. It is expected of them to share their insight into the potential models in the business. The necessary skills for this job include strong communication, management experience, financial management, and analytical thinking.
Senior finance specialist responsibilities
Here are examples of responsibilities from real senior finance specialist resumes:
- Develop, maintain financial models/applications (VBA Excel/Access) to automate and streamline business processes and perform financial analysis.
- Align all financial activity with the regulations of the GAAP.
- Analyze technical financial problems and provide professional assistance and advice concerning their solutions using GAAP and GASB standards.
- Administer accounts payable, accounts receivable, bank statements reconciliations and confirmations.
- Monitor and maintain various account reconciliations for audit requirements, compliance controls, and other special analysis requests.
- Handle the tasks of monitoring payroll activities and program components to ensure compliance with establish legal and administrative requirements.
- Complete month-end closing responsibilities relate to customer co-op and rebate accruals, in addition to research and development spending accruals.
- Finance participant for Hyperion systems financial application modifications/changes/request updates.
- Put systems in place to ensure improve collections, hold monthly A/R meetings to make sure that these systems are effective.
- Finance participant for Hyperion systems financial application modifications/changes/request updates.
Senior finance specialist skills and personality traits
We calculated that 13% of Senior Finance Specialists are proficient in Financial Statements, Financial Data, and Financial Analysis. They’re also known for soft skills such as Computer skills, Analytical skills, and Communication skills.
We break down the percentage of Senior Finance Specialists that have these skills listed on their resume here:
- Financial Statements, 13%
Arranged year-end financial statements; completed the analysis of information and attempted to minimize year-end penalties by reducing open recoverable balances.
- Financial Data, 6%
Managed Security Master review team of three financial analysts ensuring accurate and consistent financial data.
- Financial Analysis, 6%
Cultivated long-term relationships with clients, provided current financial analysis, and tailored recommendations suited to personal financial goals.
- Calculation, 4%
Participated in acquisition transactions by performing due diligence analyses, post-closing settle-up calculations, and overall transition/implementation procedures.
- 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.
- Financial Management, 3%
Trained 562 newly assigned personnel in Financial Management during Command Indoctrination.
"financial statements," "financial data," and "financial analysis" are among the most common skills that senior finance specialists use at work. You can find even more senior finance specialist responsibilities below, including:
Computer skills. To carry out their duties, the most important skill for a senior finance specialist to have is computer skills. Their role and responsibilities require that "financial analysts must be adept at using software to analyze financial data and trends, create portfolios, and make forecasts." Senior finance specialists often use computer skills in their day-to-day job, as shown by this real resume: "enter data and maintain computer records relating to financial aid programs and awards. "
Analytical skills. Many senior finance specialist duties rely on analytical skills. "financial analysts must evaluate a range of information in finding profitable investments.," so a senior finance specialist will need this skill often in their role. This resume example is just one of many ways senior finance specialist responsibilities rely on analytical skills: "prepare and analyze monthly financial reports including the earnings report by study, productivity report, and accounts receivable aging reports. "
Communication skills. Another skill that relates to the job responsibilities of senior finance specialists is communication skills. This skill is critical to many everyday senior finance specialist duties, as "financial analysts must be able to clearly explain their recommendations to clients." This example from a resume shows how this skill is used: "started as a customer service representative and was promoted to a loan officer after demonstrating exceptional verbal communication and sales skills. "
Detail oriented. A big part of what senior finance specialists do relies on "detail oriented." You can see how essential it is to senior finance specialist responsibilities because "financial analysts must pay attention when reviewing a possible investment, as even small issues may have large implications for its health." Here's an example of how this skill is used from a resume that represents typical senior finance specialist tasks: "analyzed and compared financial reports on a monthly basis and provided detailed information to licensees on a comparative level. "
Math skills. A commonly-found skill in senior finance specialist job descriptions, "math skills" is essential to what senior finance specialists do. Senior finance specialist responsibilities rely on this skill because "financial analysts use mathematics to estimate the value of financial securities." You can also see how senior finance specialist duties rely on math skills in this resume example: "prepare variance analysis inclusive of quantitative and qualitative comments. "
The three companies that hire the most senior finance specialists are:
- Blue Cross Blue Shield of Michigan21 senior finance specialists jobs
- Wells Fargo19 senior finance specialists jobs
- Sayres and Associates9 senior finance specialists jobs
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Compare different senior finance specialists
Senior finance specialist vs. Account leader
Account leaders are assigned to work on specific client accounts and assist these clients with their needs. They should treat their clients as partners. This would help them forge a better working relationship with clients. Account leaders should have high business acumen and a strong grasp of the current industry landscape. They should be familiar with the company's products and services and which product or service best fits the clients' needs. Account leaders should also know how to retain clients and maintain the client base. They may do this by regularly checking up on clients, making clients feel valued, and mitigating any challenges that may arise.
There are some key differences in the responsibilities of each position. For example, senior finance specialist responsibilities require skills like "financial statements," "calculation," "financial management," and "financial models." Meanwhile a typical account leader has skills in areas such as "account management," "client facing," "project management," and "pre sales." This difference in skills reveals the differences in what each career does.
Account leaders really shine in the professional industry with an average salary of $124,638. Comparatively, senior finance specialists tend to make the most money in the telecommunication industry with an average salary of $105,755.account leaders tend to reach similar levels of education than senior finance specialists. In fact, account leaders are 3.7% less likely to graduate with a Master's Degree and 0.7% less likely to have a Doctoral Degree.Senior finance specialist vs. Accounting consultant
An Accounting Consultant is a person tasked to assist the accounting department of a company. The consultant advises businesses concerning the accounting system used by the organization. It is also through the accounting consultant's help that improvements in the accounting process are proposed, the determination of problematic areas in the workflow, possible issues in the future, and everything that needs upgrading. The accounting consultant also helps businesses conform to legal policies set about by State and Federal legislation.
In addition to the difference in salary, there are some other key differences worth noting. For example, senior finance specialist responsibilities are more likely to require skills like "financial statements," "calculation," "strong analytical," and "financial management." Meanwhile, an accounting consultant has duties that require skills in areas such as "cpa," "erp," "balance sheet reconciliations," and "close process." These differences highlight just how different the day-to-day in each role looks.
Accounting consultants may earn a lower salary than senior finance specialists, but accounting consultants earn the most pay in the manufacturing industry with an average salary of $68,965. On the other hand, senior finance specialists receive higher pay in the telecommunication industry, where they earn an average salary of $105,755.Average education levels between the two professions vary. Accounting consultants tend to reach similar levels of education than senior finance specialists. In fact, they're 0.4% more likely to graduate with a Master's Degree and 0.7% less likely to earn a Doctoral Degree.What technology do you think will become more important and prevalent for senior finance specialists in the next 3-5 years?
Nate Peach Ph.D.
Associate Professor of Economics, George Fox University
Senior finance specialist vs. Finance analyst-operations finance
Financial analysts are professionals who are in charge of the financial operations of businesses. The analysts analyze results, monitor variances, determine trends, and suggest management-related actions to improve corporate finances. They reconcile transactions through data comparison and correction. It is their duty to maintain the database through data input, verification, and backup. They produce presentations restating fiscal information used by supervisors, administrators, and others. This position requires skills in financial reporting, management, communications skills, and accounting qualification.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from senior finance specialist resumes include skills like "financial statements," "calculation," "financial services," and "advanced computer," whereas a finance analyst-operations finance is more likely to list skills in "financial operations," "data analysis," "project management," and "co-op. "
Finances analyst-operations finances earn the best pay in the pharmaceutical industry, where they command an average salary of $93,042. Senior finance specialists earn the highest pay from the telecommunication industry, with an average salary of $105,755.When it comes to education, finances analyst-operations finances tend to earn similar degree levels compared to senior finance specialists. In fact, they're 0.4% less likely to earn a Master's Degree, and 0.6% less likely to graduate with a Doctoral Degree.Senior finance specialist vs. Finance manager
A finance manager is responsible for monitoring the financial system of a company. Their tasks include handling their organization's financial status, generating cost estimates and budget goals, identifying business opportunities to increase revenues and profitability, improving financial strategies, reducing costs, analyzing account statements, processing invoice as needed, analyzing market trends, searching potential partnerships, and presenting reports. A finance manager must have excellent analytical skills and knowledge of the accounting and financial industry. They are responsible for providing the best recommendations for the organization's growth.
Even though a few skill sets overlap between senior finance specialists and finance managers, there are some differences that are important to note. For one, a senior finance specialist might have more use for skills like "financial statements," "calculation," "financial services," and "advanced computer." Meanwhile, some responsibilities of finance managers require skills like "cpa," "work ethic," "strong work ethic," and "excellent interpersonal. "
The finance industry tends to pay the highest salaries for finance managers, with average annual pay of $118,926. Comparatively, the highest senior finance specialist annual salary comes from the telecommunication industry.finance managers reach similar levels of education compared to senior finance specialists, in general. The difference is that they're 1.8% more likely to earn a Master's Degree, and 0.3% less likely to graduate with a Doctoral Degree.Types of senior finance specialist
Updated January 8, 2025
