Financial Associate Duties And Responsibilities

Financial associates are responsible for extending their valuable support in analyzing the financial services and providing appropriate solutions so as to achieve the financial objectives of the organization. Financial associate responsibilities are diverse and complex in nature and require him to perform the auditing, accounting, and any other relevant financial functions with accuracy as well as ensuring compliance with external and internal regulations.

Key Responsibilities of a Financial Associate

Financial associates need to think strategically and work in a fast paced environment. They are involved in a diverse range of duties like relationship management with the potential clients, investigation of the core strategic issues or queries, creating and presenting the deliverables effectively as per the requirements of the client, etc. Let us study in detail the key responsibilities that are handled by a financial associate:

Essential Skills and Abilities

A financial associate must have strong communication and interpersonal skills and should be able to handle his work independently with minimal supervision. He should have the ability to handle confidential and complex information with discretion. He should be well versed with computers, with a keen eye for details. He should have a drive and passion to excel, be self confident and totally customer centric with good math skills. He should have good problem solving skills and develop innovative ideas. He should be able to work under stressful work conditions.

Educational Background

A bachelors or a master's degree in the field like auditing or accounting with expert knowledge of various accounting concepts and theories is essential to make an entry as a financial associate. A master's degree in business administration may also prove to be of great help. An additional internship experience would prove to be beneficial.

Salary Details

The average salary for a financial associate is in the range of $55,000 to $58,000. However, it largely depends on a variety of other factors like experience, skills, educational background, geographical location, type and size of the industry they are working in. With relevant professional work experience, it can guarantee you a salary in the range of $102,000 to $136,000.

Work Hours

The financial associate needs to work for thirty five to forty five hours per week. The work hours may be extended depending on the priority of the project and its deadline. They must be flexible to work in the late evenings, nights, or sometimes even on the weekends or holidays.

Career Prospects

There is an increasing demand for financial associates and those with higher professional qualification like masters in finance or those with additional professional certification like CFA will definitely progress faster and can advance to higher positions.

Thus, to become a complete professional, it is extremely crucial that you shoulder the financial associate responsibilities efficiently and effectively.

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