Duties and Responsibilities
- Prepare Budget - Finance associates assist with a company or department’s yearly operating budget. This includes developing, analyzing, and interpreting statistical and accounting information to evaluate operating results in terms of profitability and performance against budget.
- Compile Financial Reports - Finance associates often prepare reports that outline the company’s financial position regarding income, expenses, and earnings based on past, present, and future operations. This includes revising and updating reports to be more useful and efficient and furnishing external reports as necessary.
- Assist with Audits - These professionals assist with audits, reviews, and tax preparation. They closely examine financial and accounting records, compile data, and conduct financial reviews and audits. This requires familiarity with recognized accounting standards and a basic understanding of the tax code.
- Compliance Assistants - Finance associates help develop and implement policies, procedures, and best practices for their company’s financial and accounting operations and for general compliance. They might also review proposed changes to existing policies and procedures to better comply with current laws and regulations.
Skills and Qualifications
- Communication skills – finance associates work cohesively within financial teams, so they must be strong, detailed communicators. Demonstrable written communication skills are also important, especially when compiling financial reports
- Attention to detail – most finance associates review and prepare reports and financial statements, so a keen and observant eye is crucial
- Adaptability – finance associates typically work on several different teams, which requires flexibility, adaptability, and the ability to comfortably operate in a matrix environment
- Problem-solving skills – finance associates are natural problem-solvers. Reports and statements often have discrepancies that result in the need to research, escalate, and resolve issues effectively