4 Finance Skills You Need For Your CV Besides the CFA Charter

Zee Tan's picture
Rank: Senior Gorilla | 800

This article is originally from 300Hours.com. You can read the full article here.

Job search can be tough in the current climate, especially if you're switching careers into finance. 

I've had the opportunity to be on both sides of the table - as an interviewee and as an interviewer for financial roles - which provided useful perspective on what makes a candidate a great fit for a particular role. 

Besides sector knowledge and basic skills like team work, here are 4 technical (and in my view, foundational) skills commonly taken for granted even at a managerial level for a career in finance.

It all boils down to "what is your future boss looking for?"
Borrowing a quote from McKinsey: it's all about "making your boss look good". Simple, isn't it? Why wouldn't anyone want to hire someone that can make him/herself look good?

Going for that argument, here's what I find valuable in terms of technical skill sets for a junior member in finance (both for the team member and his/her manager): 

#1. Database skills
As a financial analyst, the ability to obtain and evaluate data to answer your client's problem is key. There are tons of financial database used back in my days, such as Bloomberg, Factset, Reuters, Merger Market, where investing some time learning the coding syntax can help save time and minimize errors in the long run. 

In larger firms, it's often that some databases can only be accessed by library / support staff, so do make sure you know them by name (extremely helpful for deadlines!) and also ask for their help to teach you the basics so you learn how to obtain such information yourself in the future. Knowledge is power, after all. 

The good news is these are not rocket science, and are tangible skills you can mention inyour CV. I found this out personally when I switched from capital markets to investment banking, where my Bloomberg skills was sought after as a junior because no one in investment banking really knew how to operate the system since they don't use it daily. 

Organising information in databases is key, and to do it well you need to have excellent Excel skills.

#2. Excel modelling skills
So what does this mean really? How do you know if someone is a messy person in life? Just look at how their Excel models look like. Traceability is crucial, the ability for other team members to use and understand your model with ease.

How do you achieve traceability in your Excel work? Here are some things to consider:
  • Formatting - how tidy does your Excel sheet look? Literally, is it beautiful and easy on the eye showing only the necessary information? Do you make use of reasonable colour coding to indicate whether a cell is linked from other sheet, a hardcoded input, or a formula output? Do you leave short notes or instructions to ease traceability?
  • Formula - is your calculation approach straightforward, linked and easy to follow when checked? Does your whole sheet automatically update upon changes to inputs? Automation is the name of the game here that makes your life easier as an analyst, but it only helps your case and saves time if your superior can follow your trail of thought and workings easily. Despite automation, you should always sense check your numbers and make sure your model makes sense. That's where your value add comes in.  
  • Complexity - is not necessarily a bad thing. It's important to build for what you need though. Sometimes a simpler, semi-manual model is useful enough for the task at hand without the need to invest time to make everything super automated and lovely. You're the judge of this and whether it's good enough to get the job done. A good gauge is if your Excel model is slow (meaning takes longer than 3 seconds to refresh once an input is changed), it's probably a little too complex and prone to crashing - totally unnecessary 80% of the time.

Normally one can judge how good an analyst is by his/her Excel model setup. So once you've the skills to gather the right data, build a simple model to crunch the numbers in an attempt to answer the question. The next part is presenting your findings in slides in a straightforward manner, this is usually more difficult than it sounds. 

#3. Powerpoint skills
You're probably familiar with the phrase death by Powerpoint, but I find that it's the case only because people forget the purpose of having Powerpoint slides. They assume giving a presentation is all about cramming all sorts of data in there for backup and people will read every single line before a meeting. That's rarely the case. Unfortunately I worked long enough in finance to know that 100 pagers will never be read by your client, only the first 5 pages demonstrating the succinct points of your meeting. 

Just like annual reports, slide decks have grown in thickness over the years, many times I've seen 100+ pages of presentation sent to a client, filled with tons of charts/data that never will be appreciated. Many recognised this problem but the tendency in finance is to have a few page summary upfront, with a giant appendix containing all the backup analysis to cover ones ass in a meeting. 

I get that sometimes it's out of your control and it depends on the style/approach of your bosses, but knowing how to present complex information in easy-to-digest charts or visuals that you or your team can present to is pretty powerful. Attention span is so short these days that you need to pique your client's interest in the first 5 minutes before they lose interest!

#4. Communication skills
You did the analyses and prepared the Powerpoint slides. Are each slide's title coherent and consistent to the story and argument you're building here? What is the 3 core messages you want your listeners (boss/client) to take home? What is your team's feedback? 

This is normally the most fulfilling (sometime frustrating) part of your work, the debates and discussion in the context of how you approach a particular question/problem would give you an idea of how solid your assumptions and approach has been. This skill is usually toughest to master, but as you all know with practice, anyone can become a natural. Presenting your viewpoints succinctly whilst keeping your listeners engaged is not easy, but helps in every aspect of your career

Comments (12)

May 9, 2014

So how would you list these skills on your resume. I assumed its not just going to be "Skills - Excel, Database Expert, Powerpoint Experts...

May 9, 2014

First of all thanks for your input,
But +1 to the previous comment, how can you show on your resume that you have good communication skills?

May 9, 2014

Excel and Databases (Bloomberg, etc.) offer official certifications... Communications is more of a toss-up. Maybe accolades in well-recognized speaking competitions (Debate, etc.), which is easier to participate in while you're in school. Rec letters from previous employers could reflect that as well.

    • 1
May 9, 2014

well, that depends heavily on what kind of job within finance you'd apply for?

For more senior, management roles in banking or finance I would focus on leadership abilities, how you can manage change affecting people/product/tech and how you can deal with stakeholders, your own management and conflict at the workplace. But also what achievements you had before (results).
(While leadership exposure is a transferable skill, I would mention industry specific knowledge where necessary)

If you are focusing on skill-based finance jobs (accountancy, analyst in a specific team, ER, M&A deal team or comparable) I would mention the specific skills or even align with the expectations of the future job (application) in the job section. (example: our data genius showcases skills with SPSS, SAS, tableau,..)

I am a "general manager" due to my previous, diverse career trajectory but have a good detail understanding of what team would do what kind of functions. My resume is therefore more generic without specific skills. In addition I also have a skill / training section at the end of my resume.

edit 2:
You can also look at example resumes on various platforms and see what you like best. Even large platforms show CVs, i.e.: [Indeed Canada has -> "Find Resumes"]

May 9, 2014

CPU Competency is something most people put in sections like that....for you I would assume you're good at Excel and have some knowledge of how to use auditing software, etc? You may have done some cash flow type stuff....I dono much about accounting but think technical skills.

I don't have this section in my resume (b/c I'm still in undergrad and have Extracirriculars taking up a large portion) but when asked on apps I usually list these kinds of things:

Programming Languages I know, Specific Math back Ground(Calc/Stats/etc), Level of Familiarity with Excel/modeling programs, and fluency in a foreign language.

If you took a year of german don't waste your time putting that on there, but if you are comfortable saying that your almost fluent --> Fluent in Spanish, Chinese, or Japanese, put it on there.

I usually don't put things like "People Person, good with people, good problem solver, likes to take risk, enjoys a good red wine" Save that for your eHarmony account....

Hope that helps a bit

May 9, 2014

Thank you for the response. I'm not really sure what I could put as communication skills. But as far as course work would it be wise to put a summary of knowledge you have in certain areas of study?

May 9, 2014

I think its usually silly. If you're been on a desk for a year, I would think that it's apparent you know Terminal and Excel. You could do a certificate in Excel (MS offers them, there are some others) and place that as a line on your resume.

May 9, 2014