Business Analyst and Finance
It's common knowledge that Business Analysis involves a clear comprehension of the company one operates in and then help in executing the projects involved with the functioning of the company. Right from the word go, a Business Analyst ( BA ) has to look after the customer requirements, end user specifications, and likely problems involved with development and implementation, existing and planned system modalities, and the operational processes involved
with the project to have the ability to implement it to the client's satisfaction. This is a requirement of the very livelihood of a BA. This becomes the general description of the nature of work of a Business Analyst.
How does it differ or rather define otherwise for the Finance domain? The most important requirement for a BA is to understand the intricacies of this domainname, he is working in. Therefore, in case of the finance domain, a BA ought to know the functioning of the general way of working of fund business and of course, the particular way of working of the specific sub domain under the finance realm, which he is working in. Examples of those specific sub domains may be Asset Management, Capital Markets, Equity Markets, Wealth Management, Portfolio Management, Banking, Accounting, Taxation, Treasury, Audits, Insurance, Risk, Valuation, Mergers and Acquisitions, Mutual funds, Debt Markets, Foreign Exchange, Advisory, Research, Corporate Finance etc.. Considering these sub domain have various sets of rules and regulations, coupled with particular terminologies for every sub sector, a fantastic grasp and understanding of the several terms used from the day to day working of those sub domains will maintain a Business Analyst in great stead. Knowledge of performance metrics from the sub domain domain is obviously advantageous to a fantastic BA which shows he understands how the aims are set and performance is quantified in the sub domains. Besides having basic knowledge of the front office and back office operations, the Business Analyst must also have good communication skills and great management skills to work well. As is known, a Business Analyst is a bridge between the technical team which consists of of applications developers and software engineers, and also the end user, which is the customer of the job. If the bridge isn't well-oiled and is shaky and laborious because of lack of knowledge within the Business Analyst, the project shall fall apart. Hence the business analyst must ensure he's current with the latest developments in the field that he's working in, and the specific requirements of the undertaking. Good management skills will allow the Business Analyst to understand the necessities of the end user as well the issues confronted by the technical developers in reaching the requirements needed. The technical skills of coding and programming and knowledge of latest applications must be also be understood to the Business Analyst so that he can understand the functioning of the technical team and be able to guide them appropriately to execute the project to success.
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