Torchora
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Key Responsibilities and Required Skills for Financial Specialist

💰 $65,000 - $95,000

FinanceAccountingFinancial AnalysisCorporate Finance

🎯 Role Definition

As a Financial Specialist, you are the analytical backbone of our finance department. You will be instrumental in driving financial accuracy, providing critical insights through detailed analysis, and shaping the company's financial future. This role involves a deep dive into financial data to support budgeting, forecasting, and reporting processes. You will collaborate with various departments to ensure fiscal responsibility and identify opportunities for growth and efficiency. This role requires a meticulous and proactive individual who can transform complex data into actionable business intelligence and communicate findings effectively to stakeholders at all levels.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Financial Analyst
  • Staff Accountant
  • Junior Accountant / Accounts Payable/Receivable Specialist

Advancement To:

  • Senior Financial Specialist / Senior Financial Analyst
  • Finance Manager
  • Controller or Assistant Controller

Lateral Moves:

  • Business Analyst
  • Data Analyst (with a finance focus)
  • Treasury Analyst

Core Responsibilities

Primary Functions

  • Conduct in-depth financial analysis on past results, perform comprehensive variance analysis against budgets and forecasts, identify key trends, and formulate actionable recommendations for improvement.
  • Develop, maintain, and enhance complex financial models to support strategic initiatives, long-range planning, and critical business decisions.
  • Drive the annual budgeting and quarterly forecasting processes by collaborating with department heads to gather inputs, validate assumptions, and ensure alignment with corporate objectives.
  • Prepare, review, and distribute timely and accurate monthly, quarterly, and annual financial reports and management dashboards for senior leadership.
  • Analyze and report on key operational and financial metrics, tracking performance and providing insights into business drivers and potential risks.
  • Work closely with the accounting team to facilitate a smooth month-end and year-end close process, including preparing journal entries, balance sheet reconciliations, and accruals.
  • Evaluate profit margins and cost efficiencies across various business units, providing data-driven recommendations to optimize financial performance.
  • Ensure the integrity and accuracy of financial data within our ERP and other financial systems, performing regular reconciliations and data validation.
  • Support the preparation of compelling presentations and materials for the Board of Directors, executive team, and investor relations.
  • Act as a key financial business partner to non-finance departments, providing analytical support and guidance to help them manage their budgets and achieve their goals.
  • Identify opportunities for process improvement and automation within the finance function, leading initiatives to enhance efficiency and reporting capabilities.
  • Ensure strict compliance with internal financial policies, procedures, and controls, as well as external regulations like GAAP or IFRS.
  • Assist in the documentation, testing, and monitoring of internal controls to mitigate financial risks and ensure SOX compliance.
  • Perform detailed research and analysis of historical financial data to inform forecasting models and provide a basis for future performance expectations.
  • Reconcile complex financial transactions by meticulously comparing and correcting data discrepancies across multiple systems.
  • Manage capital expenditure requests by performing ROI analysis and tracking project spending against the approved budget.
  • Provide analytical horsepower to support M&A activities, including due diligence and financial integration planning.
  • Monitor industry trends, economic conditions, and competitor performance to provide context for the company's financial results.
  • Develop and maintain standard operating procedure (SOP) documentation for financial planning and analysis processes.
  • Mentor and provide guidance to junior analysts or interns, fostering a culture of continuous learning and analytical excellence.

Secondary Functions

  • Support ad-hoc data requests and exploratory data analysis to answer pressing business questions from leadership.
  • Contribute to the organization's data governance strategy and roadmap by championing data quality and consistency.
  • Collaborate with business units and IT to translate complex data needs into technical engineering requirements.
  • Participate in sprint planning and agile ceremonies for finance-related system implementation or enhancement projects.

Required Skills & Competencies

Hard Skills (Technical)

  • Advanced Microsoft Excel: Mastery of pivot tables, VLOOKUP/HLOOKUP, INDEX/MATCH, macros, and complex formula creation is essential.
  • Financial Modeling: Proven ability to build robust, scalable, and easy-to-understand financial models from scratch for forecasting, valuation, and scenario analysis.
  • ERP System Proficiency: Hands-on experience with major ERP systems such as SAP, Oracle NetSuite, or Microsoft Dynamics 365.
  • Financial Reporting: Deep understanding of financial statement preparation (P&L, Balance Sheet, Cash Flow) and management reporting.
  • Budgeting & Forecasting: Expertise in the principles and execution of corporate budgeting, rolling forecasts, and long-range planning.
  • Data Analysis & Visualization: Skill in using BI tools like Tableau or Power BI to create insightful dashboards and reports.
  • GAAP/IFRS Knowledge: Solid understanding of Generally Accepted Accounting Principles or International Financial Reporting Standards.
  • Variance Analysis: Ability to dissect and clearly explain the drivers behind financial performance variances.
  • Database Querying (SQL): Basic to intermediate ability to write SQL queries for data extraction and manipulation is highly desirable.
  • FP&A Software: Familiarity with planning and consolidation tools like Hyperion, Anaplan, or Planful is a significant advantage.

Soft Skills

  • Exceptional Attention to Detail: A commitment to accuracy and precision in all aspects of financial analysis and reporting.
  • Analytical & Critical Thinking: Strong ability to identify problems, analyze complex information, and develop effective solutions.
  • Communication & Presentation: The ability to distill complex financial information into clear, concise, and compelling narratives for both finance and non-finance audiences.
  • Collaboration & Interpersonal Skills: A team player who can build strong relationships and work effectively across different departments and levels of the organization.
  • Problem-Solving: A proactive and resourceful approach to overcoming challenges and finding efficient solutions.
  • Time Management & Organization: Ability to manage multiple priorities, meet tight deadlines, and work effectively in a fast-paced environment.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree from an accredited university or college.

Preferred Education:

  • Master's in Business Administration (MBA), Finance, or a related field.
  • Professional certification such as CPA (Certified Public Accountant) or CFA (Chartered Financial Analyst).

Relevant Fields of Study:

  • Finance
  • Accounting
  • Economics
  • Business Administration

Experience Requirements

Typical Experience Range: 3-7 years of progressive experience in financial planning & analysis (FP&A), corporate finance, or a related field.

Preferred: Experience within a publicly traded company or in a similar industry is highly valued. A proven track record of acting as a financial business partner is a strong plus.

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