There are many different factors that contribute to success. However, there is one factor that has been proven time and again to be a key to success in the workplace: habits.
Your habits make you who you are and how successful you will be.
If you’re looking for success in the world of finance, there are some habits you should try to adopt. These habits will not only make your life easier but they’ll also ensure that you have a successful career.
So, what are the habits of the most successful senior finance professionals?
1. They are detail-oriented
The most successful finance team professionals pay extreme attention to detail. They’re thorough, accurate, and meticulous in their work.
Given that their job has to do with finances, these professionals pay close attention to all of the small particulars when working on a task or project.
As senior finance professionals, they show pride in their work by tackling each assignment as precisely and flawlessly as possible. This means their work has to be high-quality and the projects they manage must have little to no errors.
2. They have a good understanding of how money works
The job of great senior finance professionals goes beyond just giving guidance to the finance team. They may sometimes be called upon to offer financial solutions to the organisation such as new ways the company can increase revenue.
They have to lead the organisation financially by understanding what is going on with the company’s financials and offering appropriate advice to the management on how to keep the business in a healthy financial shape. This can involve new investment opportunities and ways to cut down costs.
3. They are good with numbers
Financial management is concerned with accounting and data. Although you can get help with your accounting tasks from Excel templates, there are many more things that need to be taken into consideration when managing an organisation’s financials.
In order to be successful in this field, you need a good grasp of numbers and the ability to manipulate them according to your needs. This will help you make the best and most informed decisions.
4. They possess the know-how about the smallest tasks
Although you’re now occupying the position of a senior finance official, you still have to know how to do the smallest tasks that usually get delegated to lower-level employees.
In case your team members are not available, you need to be able to step in and take over their responsibilities. So it’s better if senior finance professionals know everything there is to know about every job in their department.
This is also important for effectively managing your team as you might sometimes have to tell your team members exactly what they should be doing and how.
5. They are futuristic
A good finance manager should be able to look into the company’s current financial records and predict what could happen in the nearest future.
This habit is important for senior finance professionals as they have to give advice and suggestions on what the company should do in order to stay profitable. This is why these professionals need to be constantly aware of the current financial situation and foresee what could be coming their way.
6. They are honest
These professionals know that dealing with money is serious business and being dishonest can be damaging to the company as well as their colleagues who work with them.
They understand that if they do not follow the honesty policy, their projects will be full of errors and the business might lose money in the end. This directly reflects on them since they are the ones who will be held accountable for any loss or gain in a company. They have to be honest in their financial reports, regulatory reports, and the financial image they present of the company.
7. They are good communicators
Senior finance professionals have to be able to communicate well with their colleagues, investors, and external stakeholders such as auditors. They need to be able to communicate well for the sake of their team and organisation as a whole, especially when it has to do with relaying information to the outside world on the company’s financial standings.
Additionally, their ability to communicate well is also crucial for themselves as they need to be able to communicate clearly and concisely with their team.
8. They are organised
When it comes to corporate finance and accounting, being disorganised is not an option.
Being organised helps finance professionals to complete tasks on time and follow up with each assignment no matter how tedious or boring it may be.
If they want to lead their teams well, they have to show by example and manage their tasks thoroughly.
9. They are open-minded and not afraid of change
Instead of being too rigid, senior managers in finance should be open-minded when it comes to making decisions about the company’s finances. Instead of sticking to a policy that no longer works, they have to be ready to try new things and change with the times. Being open-minded goes beyond just how they go about making financial decisions.
These professionals must also be willing to accept input from others instead of feeling like they have all the answers.
Continuous improvement is crucial in this field. These professionals know that every day, there are new methods and software being created which can help them streamline daily processes.
They take advantage of any helpful financial management tools they can get their hands on and implement them as soon as possible to make sure the business is moving forward.
10. They keep up to date with the latest happenings in the finance sector
Keeping up to date with the news and happenings in the finance sector is crucial for senior finance professionals because it allows them to be aware of upcoming risks and issues.
This helps them make decisions accordingly so they can avoid problems such as not complying with the latest financial regulations.
Being aware of what’s happening in the industry also helps these managers improve their team’s performance by keeping up with new software and financial trends.