Financial Data Analyst

Job Overview

The Financial Data Analyst is responsible for analyzing financial data and providing insights to support strategic decision-making within the organization. This role combines financial acumen with data analytics to help assess financial performance, identify trends, and contribute to forecasting and budgeting. The ideal candidate will be skilled in data manipulation, statistical analysis, and presenting financial insights in a clear and actionable format.

Key Responsibilities

Data Collection & Management

• Collect and organize financial data from various internal and external sources, including accounting software, ERP systems, and market databases.
• Ensure the integrity and accuracy of financial data by performing regular data audits and data validation checks.
• Manage large datasets, clean data for analysis, and ensure that the data is consistent, complete, and up-to-date.
  
  

Financial Analysis & Reporting

• Analyze historical financial data to identify trends, patterns, and anomalies that may influence business strategy or operational performance.
• Prepare detailed financial reports, including monthly and quarterly financial statements, variance analysis, and forecasts.
• Create dashboards and visualizations to present key financial metrics, such as revenue, expenses, profit margins, and return on investment (ROI).
• Work with senior finance leaders to analyze business performance, providing data-driven insights to guide decision-making.
  
  

Forecasting & Budgeting

• Assist in the preparation of financial forecasts and annual budgets by analyzing past financial performance and making projections for future periods.
• Develop financial models to predict future revenue, expenses, and profitability based on various assumptions and market conditions.
• Track performance against forecasts and provide variance analysis to highlight discrepancies and recommend corrective actions.
  
  

Trend Analysis & Financial Modeling

• Use advanced statistical tools and techniques to perform trend analysis and identify key financial drivers.
• Build and maintain financial models to assess the impact of different business scenarios, such as changes in revenue, costs, or market conditions.
• Conduct sensitivity analysis and risk assessments to quantify potential outcomes and recommend strategies to mitigate financial risk.
  
  

Business Insights & Decision Support

• Provide actionable insights to key stakeholders across the business, including finance, operations, and senior leadership, based on data analysis.
• Support the finance team in identifying opportunities to improve profitability, reduce costs, and optimize financial performance.
• Use data to assist in strategic decision-making, offering recommendations on business initiatives, pricing strategies, or capital investments.
  
  

Automation & Process Improvement

• Work with the finance and IT teams to automate financial reporting and analysis processes using data analytics tools and software.
• Recommend and implement improvements to current financial systems and processes to increase efficiency and reduce manual tasks.
• Explore new technologies and tools that can enhance the data analysis workflow and improve the quality of financial data.
  
  

Collaboration & Cross-Functional Engagement

• Collaborate with other departments, such as marketing, sales, and operations, to gather data and ensure alignment in financial goals and initiatives.
• Act as a trusted advisor to non-financial teams, helping them understand financial data and how it relates to their department’s performance.
• Assist in the preparation of presentations for senior leadership, providing financial insights and supporting strategic discussions.
  
  

Compliance & Governance

• Ensure compliance with financial regulations, accounting standards (GAAP or IFRS), and internal financial policies.
• Help prepare for audits by providing requested financial data and ensuring that records are well-organized and accurate.
• Stay updated on changes in financial regulations and best practices in financial reporting and data analysis.
  
  

Qualifications

• Bachelor’s degree in Finance, Accounting, Economics, Data Science, or a related field.
• 2–4 years of experience in financial analysis, data analytics, or a related role.
• Strong proficiency in Microsoft Excel, SQL, and other data analysis tools (e.g., Tableau, Power BI, R, or Python).
• Experience with financial reporting, budgeting, and forecasting.
• Knowledge of financial modeling, variance analysis, and scenario planning.
• Strong understanding of financial statements, accounting principles, and financial regulations.
  
  

Preferred Skills

• Experience with financial software (e.g., SAP, Oracle, QuickBooks) and business intelligence platforms (e.g., Power BI, Tableau).
• Familiarity with advanced data analysis techniques, including machine learning and predictive modeling, is a plus.
• Strong communication skills, with the ability to present financial insights to non-financial stakeholders.
• Experience in a specific industry (e.g., banking, retail, technology) is a plus.
• Master’s degree in Finance, Data Science, or related field is a plus.
  
  

Key Performance Indicators (KPIs)

• Accuracy and timeliness of financial reporting and analysis.
• Ability to identify trends, opportunities, and risks that impact business performance.
• Improvement in financial forecasting and variance reporting accuracy.
• Contribution to cost savings, revenue growth, and operational efficiencies.
• Successful implementation of process improvements or automation in financial analysis.