To be a business analyst, one needs strong command over oral and written communication, have a sharp sense of ethics, analytical and organisational skills, says  Amit Goyal

Abusiness analyst examines the info of internal or external clients and uses their findings to form recommendations about business decisions. On the financial side, analysts are called upon to assist the corporate, either the analyst’s own employer or an external client, make investment decisions. The business analyst studies financial data, attempting to identify trends and make forecasts. Typically, the analyst prepares periodic reports during which he or she recommends the corporate buy or sells certain securities. High-level financial analysts are even called upon to use financial models to work out if it's an auspicious time to sell the corporate.

Scope

Business or financial analyst officer are loaded with the responsibilities of evaluating the credit worthiness of the business and determine the line of credit, also develop the financial profile and investigate the credit history.

Business analysts pour over company data and use their findings to assist management make business decisions. This data, instead of being investment-related, involves the day-to-day operations of the business. A business analyst’s professional study strategy, business models, processes and workflows, and technical systems. They are called upon to identify inefficiencies and find opportunities for the company’s operations to be streamlined and improved.

The business analyst is a job that composed with lots of responsibilities and risks. Generally financial analyst is accountable for assessing the application of the loan applicant’s using a range of criteria including the aim of the appliance, credit viability, and customer payment history and customer creditworthiness. Business analyst plays the role of major administrator of customer credit.  They affect heavy computer programmes to take care of all the history of customer credit and keeps financial records up to date. The analyst is important for a healthy economy. Without the recommendation of the credit analyst the banks, insurers and company cannot extend loan for business, home, cars and occasionally employees payrolls as well.

Qualification

A career as a business or financial analyst requires the bachelor’s degree in finance, accounting or another related field like ratio analysis, statistics, economics, calculus, and financial statement analysis and risk assessment. These subjects are necessary to function as a business analyst because they aid in risk assessment. Educational subjects like industry and ratio analysis are necessary because a part of information which should be known for making in this career. Candidates also do the post graduate diploma in banking and finance for the professional and practical knowledge of these sectors.

Skills

• Financial analyst must be able to handle the very high level of responsibilities in their job.
• Financial analyst also conducts financial accounting, which is the preparation of statements and transactions inside a corporation.
• A business analyst is liable for analysing, then translating all of the finances during a company for the director-level individuals and beyond.
• A business analyst must have the power of multitasking he must be ready to handle different projects at an equivalent and prioritise projects effectively because the organisation might be assigned him for multiple projects at an equivalent time.
• The business analyst should have the basic knowledge of software usages like Microsoft Excel and other software to analye numerical data.
• He must have fluency in English and strong oral and written communication skill and must have the sharp sense of ethics and analytical and organisational skills.

Job Description

The business analysts start their career on the position of junior analytics after occupying the degree in accounting, finance or another related business field with ethical and quantitative focus. Mainly some of the position deal with consumer credit evaluation and, May reserved to management positions overseeing analytical departments, ethical and candidates who have an associate degree and relevant experience. In some firms, senior analysts oversee a team handling analysis for market, region or industry. Top-performing analysts can rise into financial management positions overseeing analytical departments, making final finance decisions and monitoring departmental performance.

Remuneration

Business analysts can work in a variety of fields and locales. Many works for lending institutions like banks or insurance companies. Additionally, there's great demand in investment, working for an asset manager or private equity firm as a bond analyst or for rating agencies like Moody’s or Standard & Poors, determining the riskiness of investing during a company or country. The plethora of opportunities is reflected within the salary range that credit analysts receive. The annual salary for financial analysts ranges between Rs 5 lakh to Rs 8 lakh and is dependent upon the level of experience, type of industry, and geographic location.

The writer is Director, TKWs Institute of Banking and Finance