If a finance analyst wants to advance their career and lead an FP&A team, what skills would you tell them to develop?

1.2k views2 Upvotes8 Comments

Senior Accountant in Consumer Goods, 201 - 500 employees
I think Analysis reports
1 2 Replies
Community User in Services (non-Government), 1,001 - 5,000 employees

Thanks @abedalrahman alsalem. How do you think about analysis reports in terms of learning new skills in finance?

Senior Accountant in Consumer Goods, 201 - 500 employees

Welcome Gorman
I think the main term
They must be take training on ms. Office
In special Excel and power point

Principal in Finance (non-banking), Self-employed
There’s a multitude of different skills that would be helpful. Managerial skills to manage the team. Technology and data analysis skills to oversee the function. Institutional and industry knowledge. Critical thinking and strategic planning skills to help position FP&A within the greater direction of the business. 
2 1 Reply
Community User in Services (non-Government), 1,001 - 5,000 employees

Thanks Carl! I like how you've touched on people/team management - that is often the biggest challenge, moving from being an individual contributor to focusing on strategy and enabling others to do the work. Has anything helped you improve your people management skills?

Executive Leader - FP&A and Treasury in Finance (non-banking), Self-employed
Tops for me would be Data Analytics and Storytelling 
CFO in Finance (non-banking), Self-employed
It’s more of the nontechnical skills, like the ability to influence without power because most people in FP&A have to influence the business and manage finance people. As you advance in your career, technical skills like analytics, excel, etc. become secondary. Some other skills to develop would be storytelling, business partnering, and managing a team. You need to understand how to work with your team, how to delegate, and how to let go of things that you previously managed as an individual contributor and trust your team.
VP of Finance in Healthcare and Biotech, 501 - 1,000 employees
One of the two different tracks you have is technical expertise. You have to be proficient in analysis so you can guide other people through that analysis and how to share that technical development with others. Secondly, understanding the business strategy and how financial planning and analysis are incorporated into the day-to-day of running the business. 

All of those soft skills are equally important because an analyst who can do the best analysis in the world means nothing if it can't be communicated and shared with the business partners in the organization tasked with turning those insights into action. We're here guiding them through that process. Building out those relationships is probably the number one thing that gets you from being a good analyst to being a potential leader of FP&A. It's also our responsibility to make sure the CEO and CFO are aligned and bring them back together to a cohesive strategy.

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