Finance Jobs: The Important Role of the Business Analyst
The role of the business analyst is one of the most important positions in the financial services industry, especially within operations. Acting as a liaison between the financial goals of the business customers and the technical environment within the organization, the business analyst plays a critical part in the success of the company.
Some of the primary responsibilities of the business analyst include:
- Utilize analysis tools such as MS Access and Business Objects to extract and organize financial data into useful information and concise reports.
- Analyze complex financial data and summarize the information to illustrate trends, variances, risks and future business opportunities.
- Effectively documents and presents analytical results to all levels of the organization, including top-level management and end users.
- Works closely with technical and business segments to lead new initiatives and develop new analytics that can be used by various business segments.
- Uses analytical and critical-thinking skills to see the “big picture” instead of one small piece of the finance industry.
The qualifications and skills of the business analyst encompass a range of core competencies and technical expertise, including:
- Thinking “outside the box”- actively seeks to increase knowledge and become a subject matter expert across various organizational functions.
- Expands technical skill set to become familiar with data systems such as reference tables, architecture, and data warehousing.
- Resourceful and innovative- seeks out alternate ways to access, compile, analyze and report on complex financial data.
- Operates with a critical mindset and constantly looks for new ways to strive for process improvement.
- Takes on new challenges to expand business and technical knowledge.
The business analyst role can be invaluable in providing insightful analytics to develop business strategy and promote organizational growth.