7 Attributes to Look for When Hiring Finance Professionals
Finance is one of the most crucial aspects of business. The function requires highly dedicated and qualified finance professionals to effectively manage the finances of a business. Whether you own a startup or are part of a large enterprise, you need skilled finance professionals with analytical abilities, who can not only comprehend laws, taxation, and other financial aspects, but are also adet at working with different finance management software. To help with financial requirements, your finance recruiters need to screen potential candidates for specific attributes. In this blog, we highlight seven qualities to look for when hiring finance professionals. Read on.
1. Degree of Specialization
Specialization forms the core of every business function. The finance function is governed by stringent processes and standards, which is why it is advisable to look for professionals who have undergone specialization courses, such as Certified Management Accountant (CMA) on subjects such as financial reporting, regulation, income tax, and IFRS. Professionals with a strong educational background are more likely to have an in-depth knowledge of the domain and would be suitable for rigorous finance roles.
2. Industry Familiarity
Every industry has its terminologies and practices. It is important that accounting professionals interested in joining your company are well-versed with the ins and outs of your industry. Being familiar with the industry enables them to manage current market and company situations, and also anticipate future business developments and market trends. Additionally, industry knowledge prepares them to guard company finances during troubled times, and at the same time, capitalize on any positive trends shaping the industry at any point in time.
3. Understanding of Audits and Compliance
Audits are an integral part of the financial system of any organization. Failing to comply with the accounting standards and norms can have serious repercussions for any business. Understanding audits, therefore, is essential for finance professionals, as they need to ensure the company complies with regulatory requirements. Your team of accounting professionals, with their understanding of audit and compliance, needs to ensure that the company’s balance sheets are clean, and there’s no scope for tax glitches or any other irregularity.
4. Investment Management Experience
Finance professionals not only have to manage the company’s finances, balance sheet, and record books, they also play a big role in managing a company’s investments. While it is optimal for executive level finance professionals to prepare balance sheets and vouchers, senior level professionals need to find ways to optimize company finances; thereby, not only improving the company’s accounting books but also adding weight to their position in the organization.
5. Communication and Soft Skills
Often overlooked, communication and soft skills are some of the principal attributes of a seasoned finance professional. Recruiters should not leave out these skill sets just because finance professionals are not required to communicate with clients on a regular basis. Every employee has to participate in inter-communication and passing incorrect or incomplete information can be catastrophic for business. Additionally, there can be odd instances where finance professionals have to coordinate with clients and any shortcoming during the interactions casts the wrong impression about your business.
6. Technical Affluence
As the world progresses with digitization, it is imperative that every professional, irrespective of their domain, is familiar with technology – especially when it relates to their domain. Therefore, finance professionals should know how to operate industry-standard software. Extra knowledge on how to go around the system if case of errors or wrong entries and calculations comes in very handy. Additionally, if the professionals understand minor IT malfunctions, they can rectify such faults without waiting for the IT team to rectify them; thereby saving time.
Last but surely not the least, you should consider the stability quotient of a professional. You don’t want to employ someone who changes their finance and accounting job every year. Finance recruiters should search for people with stable CVs as they are expected to serve the organization for a reasonable period. Regular change of finance professional puts critical information at risk of leakage and makes it difficult to train individuals on company procedures and work style.
As finance management is an integral part of any business, you cannot take any chances by recruiting underqualified, irreliable or unstable professionals. If you are finding it a challenge to discover the best finance experts in Dallas, get in touch with Delta Dallas. Employing a team of professional finance recruiters, we assist businesses across Dallas and neighboring counties meet their finance staffing requirements. To learn more about our staffing services, simply call +1 972-788-2300, or fill out our contact form and we will get back to you, shortly.