5 Core Skills You Need For a Job in the Finance Industry

5 CORE SKILLS YOU NEED

FOR A JOB IN THE FINANCE INDUSTRY

The finance industry is more than just working with numbers! Here are the key skills you’ll need to have if you want to succeed in this industry.

There are many pathways that a career in finance can take you, and graduate jobseekers are encouraged to constantly update their skills to keep pace with the fastevolving workplace.

However, beyond hard skills like budgeting, knowledge of financial products, and your principles of investing, what employers really look out for are “core” (or “transferable”) skills which will carry you through the industry. These core skills are what show employers that you have the potential to keep learning and growing in the industry no matter how your responsibilities change or what job roles you take on.

Here are five core skills you’ll need to stand out as a graduate in this industry, and how you can demonstrate them to finance employers.

COMMERCIAL AWARENESS

Commercial awareness can be broken down into three components – an understanding of the business and what makes it successful, knowledge of the marketplace and who the business interacts with, and the ability to identify competitors as well as factors that can impact the employer’s business performance.

During the application process Develop your commercial awareness by researching your prospective employer(s). Visit the employer’s website to get an idea of what the company does and what it offers graduate recruits. You may also want to focus on the company’s mission, aims, values, strategy and structure. Stay up-to-date on financial industry news, market movements, and current trends as well.

How to demonstrate your skills to recruiters Prove your commercial awareness during the recruitment process by discussing some issues that the company or the industry is facing, and how your employer can leverage on it. One of the most common ways interviewers or recruiters gauge your commercial awareness is through questions that involve real industry examples.

Take the effort to prepare wellresearched examples beforehand and be prepared to talk about how these could impact the business or industry you’re hoping to work in. Be sure to discuss your potential role in helping the business respond to these market movements as well.

COMMUNICATION AND INTERPERSONAL SKILLS

In the banking and finance industry, you will be working with both finance professionals and nonfinancial stakeholders. You will need to be able to convey banking and finance concepts in simple terms – which makes communication and interpersonal skills vital in this industry. You will also be liaising with customers or clients more often than not.

During the application process Your ability to communicate well in writing will be key in your applications to prospective employers. Your application needs to be well written, tailored to the particular employer, and easy to understand. Don’t forget to proofread all of your application materials before sending them to an employer. The same goes for emails or written texts exchanged with the employer as well.

How to demonstrate your skills to recruiters Demonstrate your interpersonal skills during the interview process by actively listening to what your interviewer is saying. When answering, make sure to make eye contact and speak slowly and clearly. Use simple language to explain complex concepts whenever possible.

INTEREST AND ENTHUSIASM

You have probably heard the advice that you should show interest and enthusiasm in your application if you want to impress your prospective employer. And it’s true! Graduates who take the initiative to reach out to employers and recruiters first (over LinkedIn or career events) stand out even more!

During the application process Research the company and get a good understanding of what they currently do. Prepare to demonstrate your interest by thinking about your potential answers to interview questions like “Why do you want to work for us?” and “What do you like about this field?”. Interviewers will note your preparedness and take it as a sign you are genuinely interested about the job.

How to demonstrate your skills to recruiters This actually starts long before you even get an interview! Showing your interest and enthusiasm is by attending networking sessions and career fairs to make yourself known to recruiters. And don’t be afraid to mention attending such events during the recruitment process. Talk about the research you’ve done and let recruiters know the things that excite you about the job.

Remember, being enthusiastic does not mean being cheesy and overthe-top. Enthusiasm works best when it’s sincere.

INNOVATION & PROBLEM-SOLVING SKILLS

Given how fast-changing the finance industry is, the ability to innovate – that is, to come up with potential solutions to new and unexpected problems – is one of the traits that most employers keep an eye out for. Innovation and critical thinking are instrumental in the continued growth and success of a business.

During the application process Pinpoint a few different occasions where you used your problemsolving skills in the past, whether as part of your studies, extra-curricular activities, or past work experience. Demonstrate these by highlighting real examples in your application and CV, and ideally the outcomes you achieved as well.

How to demonstrate your skills to recruiters Recruiters will often throw you complex problems with no clear solutions to test your innovative skills. It’s important to talk them through your thinking process and how that leads to the solutions you would recommend.

It’s not getting the “right” answer, but more about showing them how you approach and tackle unfamiliar problems!

TEAMWORK

In the finance industry, you will usually work on projects or deals in teams. Teamwork skills are therefore critically important no matter which finance employer you apply to. Some specific examples of teamwork skills include conflict management, active listening, leadership, and communication.

During the application process In your applications and CV, highlight past examples where you worked with teams on projects. You can also write about times where you resolved problems as a team, or how you helped resolve situations within the team itself.

How to demonstrate your skills to recruiters Talk about your past experiences in school, at an internship or your past volunteer experiences that required teamwork skills. And remember to provide recruiters and interviewers with examples on how your actions helped the group work together, and the methods you used to interact with group members.