Why Soft Skills in Finance Matter to Your Career

Technical expertise is the gold standard for companies hiring finance professionals. Degrees and certifications help you develop the hard skills necessary to not only excel at your job but attract the most lucrative employment opportunities as well. Technical expertise, however, is not the only thing employers look for these days.

With the rise of artificial intelligence and automation, the finance sector is undergoing rapid changes. Along those changes come demand for new skills; some are relevant to technology, such as digital literacy, data analytics and insight (i.e., to build complex finance models), and fintech knowledge. Others are about soft skills in finance.

The Importance of Soft Skills in Finance

Companies are looking for finance professionals who can go beyond the numbers. Soft skills are becoming a core focus because possessing them elevates the finance department, and by extension, the business as a whole.

Candidates with proven technical credentials may not make it past a second interview if they demonstrate a lack of adaptability or poor communication skills. Limited capabilities in either soft skill can impede progress, affect company culture, and create costly misalignment.

Businesses need finance professionals who can become strategic partners, enhancing company culture and meeting long-term goals. So as you pursue an ACCA course or CFA certification, it’s equally important to refine your soft skills along the way.

5 Soft Skills Finance Professionals Need

Unlike hard skills, soft skills are not job specific, They’re about showing how you interact in the workplace and manage your work. These skills are also transferable across job roles and industries, making them valuable for any career.

Here are the key soft skills every finance professional needs.

1. Communication Skills
Polished communication skills are essential for any role in finance, whether you’re starting in the rank and file or moving into a senior role. It is important to tell the story behind the numbers because you’ll be working with other people in other departments, many of whom may not be familiar with finance principles or jargon.

Proficiency in verbal, written, and visual communication is also critical when you’re presenting to clients. Addressing their concerns with clarity and precision earns trust and cultivates an interpersonal relationship. When communicating with upper management about your ideas or reports, communicating with confidence earns support and influences decisions.

Communication skills for finance professionals is likely the first thing hiring managers evaluate.

2. Adaptability
Change is a constant thing in business. The rate at which that happens today has accelerated because of technology. Shifts in strategies, modifications in goals, or a complete turn around on a business model requires finance professionals to be highly adaptable.

The needs of the business can change, which means the previous year’s (or quarter’s) forecast may not be relevant. You need to know how to adjust to changing conditions, responding to new scenarios effectively to overcome obstacles.

Adaptability also means possessing learning agility; the willingness and ability to reskill and upskill through on-site or online financial training allows you to be relevant to employers.

Companies adopt new technologies, from AI-powered document processing software to cloud-based machine intelligence solutions, to enhance productivity and continually innovate. So you must learn these new tools.

3. Problem-solving Skills
Funding major initiatives, a potential merger and acquisition deal, cash crunch — finance professionals encounter a range of challenges. The ability to analyze information, identify opportunities and risks, and develop course correction strategies are crucial capabilities in the finance sector.

Problem-solving skills tell employers that you have the ability to prioritize, act with urgency, and make the right judgment calls. It’s a soft skill that can also reveal your capacity for leadership in finance.

4. Emotional Intelligence
Work in finance is technical and data-driven. But most interactions with coworkers or supervisors and clients will require a numbers-last approach. After all, the subject of money is often delicate.

When sensitive finance matters come up, it’s important to address them to colleagues or clients with care. Higher emotional intelligence for finance professionals paves the way for rational decisions, which impacts long-term financial wellness in any organization.

Among the crucial components of emotional intelligence are:

• Self-regulation
• Self-awareness
• Social awareness
• Relationship management

With strong emotional intelligence, you’ll navigate change, inspire people, strengthen relationships, and foster greater understanding and collaboration.

5. Client Service Orientation
Finally, every finance professional at some point will handle customers. Whether you’re part of a team that needs to interact with clients or you handle internal clients, the willingness to help is a valuable soft skill.

Employers in finance prioritize professionals who approach their work with a sense of responsibility to others. Demonstrating a client-focused attitude sets you apart, especially when paired with your technical know-how and strategic thinking.

In a competitive job market, you need to constantly improve and evolve your skills. As you pursue professional development in finance, don’t just focus on passing exams or completing certifications. Develop your soft skills, too.

The most successful finance professionals are those who not only understand the numbers, but also know how to connect them to people, purpose, and progress.

Upgrade Your Skills

As the longest-standing Platinum ACCA provider in the region, Phoenix FT delivers the best financial training with programs designed for high-school graduates and experienced professionals, from our ACCA jumpstart programme to our CFA course. But we go beyond the numbers.

We help you become a well-rounded professional by organizing social events. In creating a fun and engaging environment, you’ll find balance and hone those much-needed soft skills.

We also provide comprehensive support, so you can navigate and excel in today’s competitive job market. Through Phoenix Skills and Recruitment, we help students find job placements or internship opportunities with the Big Four accounting firms.

Learn more about us today and discover what we can do for you.