To become a business or trading analyst, one needs post-secondary education, related work experience, communication skills, and the ability to manipulate data. A trading analyst requires a CPA and accounting experience. The job interview process may include a sample analysis exercise. Accuracy and maturity are important for success.
There are four steps required to become a business analyst: post-secondary education, related work experience, communication skills, and completing the job interview process. A commercial analyst is responsible for measuring the financial results of the company’s activity and comparing them to targets. She completes complex analyses, writes reports and recommends strategies to help the company achieve its financial goals.
People who like to analyze, read and work independently find the greatest satisfaction in this type of work. While business analysts are expected to have excellent communication skills, the most important skill for an analysis is data manipulation. Attention to detail, discipline and focus are essential for anyone wanting to become a business analyst.
The first requirement to become a trading analyst is to complete a post-secondary education program. Because this role requires analyzing financial information and creating recommendations, most companies require a certified professional accountant (CPA). The training required to achieve this goal is a university or college degree in accounting, plus several years of accounting experience and completion of the Certified Professional Accountants certification process.
Related work experience is typically in accounting, working in a company’s accounting department or in an accounting firm. Business analyst is a mid-career position, with very few people qualified for these roles directly out of school. Business experience and an understanding of potential consequences are required to be effective in this role. Such knowledge is acquired only through work experience.
Communication skills are very important if you want to become a trading analyst. The ability to transplant complex financial analysis into a report or recommendation that clearly explains what needs to be done is critical to decision making. Many accountants invest in business writing courses to improve this vital skill.
During the job interview process, some companies will have a sample analysis exercise for candidates to complete. Financial data and reports are provided and context is explained. The analyst needs to review the information, ask the pertinent questions, and make a recommendation. This is one of the most effective ways to find a suitable candidate.
The role of business analysis may not be very exciting, but it can be very interesting. As an analyst, you have access to financial data on all aspects of the company’s business. The recommendation you make may result in failure or success for the company. Accuracy and maturity are valuable in this role because of the inherent pressure to succeed at the company.
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