What is a financier?
A financier is a finance professional who oversees the large monetary amounts for an organization or government agency.
Financier key roles and responsibilities
According to Robert Half, here are some key roles and responsibilities that financiers typically have in an organization:
- Act as a liaison between upper management and finance or accounting department
- Review financial statements to determine steps that promote a company’s financial health
- Participate in continued educational programs to maintain expertise
- Correct financial statement errors
- Monitor market trends to determine investment opportunities for a company
- Monitor a company’s accounts and budget expenses
Financier education requirements and qualifications
Before you can hire a financier for your business, learn about the previous work experience and education requirements that make them fit for the job. Here is what to look for on candidate resumes according to investopedia.com:
1. Bachelor’s degree
Financiers should have a bachelor’s degree in an area such as finance, business management, economics, accounting or related area. A candidate’s education should ensure they have a foundational understanding of standard financial practices and the way businesses operate.
2. Master’s degree (optional)
It may also be beneficial for financier candidates to have an additional degree at the masters level. Typical master’s degrees include business administration, finance and more in-depth degree titles like financial planning, real estate or investment banking.
3. Diverse work experience in finance-related roles
As a financier will be responsible for your company’s finances, it is important that they have a detailed work history inmultipleareas of finance. For example, a financier candidate with previous experience working as an accountant, financial specialist, finance manager, investment consultant and a financial planner may have a more well-rounded understanding than someone with previous work experience as an accountant and financial planner.
4. Industry certifications
Industry certifications aren’t mandatory but they can demonstrate a candidate’s devotion to continued education and a desire to stay updated on financial trends. Here are some examples of certifications to look out for according to fma.org:
- Wealth Management
- Certified Fund Specialist (CFS)
- Certified Investment Management Analyst (CIMA)
- Chartered Investment Counselor (CIC)
- Chartered Economic Analyst (ChEA)
5. Skills
Here are some skills to look for when reviewing a financier’s application as mentioned by Robert Half:
- Interpersonal communication
- Analytical-thinking
- Problem-solving
- Leadership
- Accounting software competency
- Commercial acumen experience
- Financial reporting
What are the benefits of hiring a financier?
Review the following benefits to determine whether your business should hire a financier:
- Enable you to make smart financial choices due to their market knowledge
- Reduce stress for business owners with limited financial department or experience
- Help you evaluate risks in certain investments
- Allow you to generate capital by advising you about market trends
- Provide oversight for your company’s accounts and financial health
How to hire a good financier for your business
Here are six steps to help younavigate the hiring process for a financier role within your company:
1. Review typical requirements for financiers
Conduct research on the education, previous jobs and skills financiers need. This will help you create a clear job description.
2. Create and post a job description
Write a comprehensive job description with a brief summary of your company and candidate requirements. This is also the place to highlight your specific needs for the position. Post the job on Indeed.comfor applicants to view and apply.
3. Use ATS software to filter candidates
Application Tracking Software (ATS) allows you to input specific keywords from the job description. The software filters through applicants to select those whohave one or more keywords in their application.
4. Review qualified candidates’ application materials
From the candidates selected, look over the resume, cover letter and any other components you collected. Contactthose whobest fit your needs to discuss an interview date and time that works best.
5. Create a list of questions ahead of the interview
Using what you know about the candidate and financier qualifications, create a list of questions to help guide your discussion during an interview.
6. Draft a job offer letter for an accepted candidate
Write a job offer letter to the candidate you want to hire. This should be a brief document that states their offer, salary expectations and start date.
