Financial Reporting Analyst Job Description, Key Duties and Responsibilities
If you are searching for the job description of a financial reporting analyst to learn about what they do, then you are on the right page.
This post exhaustively discusses of the key duties, tasks, and responsibilities that make up the financial reporting analyst work description in most organizations.
It also reveals the major requirements applicants for the financial reporting analyst position may be asked to fulfill by recruiters before they can be hired for the role.
Please, continue reading:
What Does a Financial Reporting Analyst Do?
A financial reporting analyst prepares documentation that gives evidence of a company’s financial standing.
Financial standing can be described as a business organization’s assets, resources, and insurance, that can be evaluated by a public body when deciding whether the business or organization may be examined as a potential supplier.
The financial reporting analyst job description entails carrying out audits on all financial statements and balance sheets for legal entities.
In other words, the financial reporting analyst is also responsible for managing submissions for all reports.
In dispensing his or her duties, a financial reporting analyst employs the use of Generally Accepted Accounting Principles (GAAP) to create financial statements, while safeguarding error-free financial reporting throughout an organization or company by working in relation with various departments and management.
Another indispensable function of a financial reporting analyst includes analyzing income and expenses, reconciling accounts, filing regulatory reports, and providing information to auditors, and issuing data used in Securities and Exchange Commission (SEC) filings and annual reports.
Furthermore, a financial reporting analyst exercises patience and dedication, and also possesses good problem-solving skills as there are some common problems that are attached to financial analysis which include: problems with inputs that will also influence the quality of the output from the financial analysis; problems with comparisons and so on.
Therefore, he or she is required to be determined, analytical, and focused in order to avoid or solve these common problems.
A financial reporting analyst also diligently helps an organization, company, or firm to comply with various statues and regulatory requirements.
This is important because the organization is required to file financial statements to Government agencies as financial reporting is a very important and critical task of an organization, and a vital part of corporate governance.
In addition, a financial reporting analyst is required to be academically qualified by possessing a Bachelor’s degree in Accounting and Finance, in addition to extensive experience in ledger accounting and financial reporting.
Some employers require certification or licensure. A Master’s degree may be preferred by some employers for senior level positions.
Financial Reporting Analyst Job Description Example/Sample/Template
A financial reporting analyst performs various functions in an organization; he or she takes responsibility for the integrity of the organization’s reporting process through the production of up-to-date and financial statements and data.
Here are the major responsibilities, tasks, and duties that commonly make up the financial reporting analyst job description in most companies:
- Providing information to investors, promoters, debt provider, shareholders, and creditors in order to compel them to make rational and prudent decisions regarding investment, credits, and so on
- Preparing timely and error-free documentation that gives evidence of the organization or company’s financial standing
- Apply Generally Accepted Accounting Principles (GAAP) to create or update financial statements
- Enhancing social welfare by looking into the interest of employees, trade union, and Government
- Protecting the integrity of the organization reporting process by producing and maintaining correct and up-to-date financial statements and data
- Coordinating with various departments and monitoring annual and quarterly deliverables for external auditors
- Reviewing and analyzing financial stats, data, and reports from various departments, and suggesting activities for future income of the organization
- Helping the organization to adhere and comply with various statues and regulatory requirements from Government agencies and others.
Financial Reporting Analyst Job Description for Resume
If you have worked or are currently holding the position of a financial reporting analyst and desire to change your job, you can apply the job description sample above in completing the professional experience section of your resume.
The sample work description provides typical duties and responsibilities which financial reporting analysts perform, which you can highlight in the job experience section of your resume to inform the recruiter that you have been successful carrying out the functions of the position.
Financial Reporting Analyst Requirements – Skills, Knowledge, and Abilities for Career Success
If you are seeking the position of a financial reporting analyst in an organization, it is important to know that most recruiters will expect you to meet certain requirements before you are considered for an interview.
Shown below are major requirements applicants seeking the job of a financial reporting analyst may be expected to meet to prove to recruiters that they are capable of performing the obligations, objectives, and purpose set for the role, and proceed to the next level of the hiring process:
- The ability to work effectively and efficiently without any direct supervision or guidance is an important skill and qualification of a financial reporting analyst. In other words, this can also be said to include self-discipline, intrinsic motivation, composure, and so on in order to calmly and efficiently solve problems
- A financial reporting analyst must possess analytical skills, which is the ability to exhibit and utilize logical thinking in the process of gathering and analyzing information. This is an absolute necessity in the finance field
- It is an indubitable fact that communication is one of the most vital skills any individual can possess in any line of occupation. A financial reporting analyst should effectively communicate effectively in order to enhance efficiency and productivity while working with clients, individuals, and with a team
- Advancements in technology have made the process of working easier and faster, therefore, a financial reporting analyst must have in-depth knowledge of technology. In the financial services industry, tech skill is a necessity for a financial reporting analyst. For example, many organizations look to hire candidates with knowledge in Structured Query Language (SQL). Therefore, it is very crucial for a financial reporting analyst to have a deep knowledge of technology
- Ability to identify and solve problems tactically.
The information and sample job description shared in this post is useful to recruiters, employers, or HR managers needing to hire for the financial reporting analyst role.
They can apply the financial reporting analyst duties and responsibilities highlighted above in creating a detailed description of the available position, which can increase their chances of attracting the best candidates for the job.
This post is also helpful to individuals interested in the financial reporting analyst career. They will be able to learn a great deal about the duties and responsibilities commonly assigned to the role.
Did this article help increase your knowledge of what financial reporting analysts do? Please, leave a comment in the box below. Do also share your job description if you work as a financial reporting analyst.