Key Responsibilities and Required Skills for Assistant Financial Analyst

🎯 Role Definition

The Assistant Financial Analyst supports the finance and FP&A teams by performing detailed financial analysis, preparing timely reports, maintaining accurate records, and contributing to budgeting and forecasting activities. This role requires strong analytical skills, advanced Excel proficiency, familiarity with ERP and reporting tools, and the ability to translate financial data into actionable business insights. The Assistant Financial Analyst helps drive month-end close activities, variance analysis, financial modeling, and cross-functional stakeholder communication to support sound decision-making.

📈 Career Progression

Typical Career Path

Entry Point From:

Finance Intern or FP&A Intern
Junior Accountant / Accounts Payable or Receivable Clerk
Business Analyst or Data Analyst with finance exposure

Advancement To:

Financial Analyst
Senior Financial Analyst
FP&A Manager or Finance Manager
Corporate Finance Analyst or Treasury Analyst

Lateral Moves:

Management Reporting Analyst
Revenue/Cost Analyst
Business Intelligence / Data Analytics roles within finance

Core Responsibilities

Primary Functions

Prepare, analyze, and present monthly, quarterly, and annual financial reports including income statements, balance sheets, cash flow summaries, and quarter-over-quarter trend analysis to support business leaders and the FP&A team.
Perform detailed variance analysis comparing actual results to budgets and forecasts; identify drivers of variances and provide narrative explanations and recommended corrective actions.
Assist in the development, maintenance, and enhancement of financial models for revenue forecasting, expense planning, scenario analysis, headcount planning, and capital expenditure evaluation.
Support the annual budgeting and periodic reforecasting processes by collecting inputs from business units, validating assumptions, consolidating submissions, and ensuring alignment with corporate targets.
Execute month-end and quarter-end close tasks such as journal entry preparation, account reconciliations, accrual calculations, and supporting schedules to ensure accurate and timely financial close.
Maintain and update FP&A dashboards and management reporting packs using Excel, Power BI, or Tableau to deliver KPIs, operational metrics, and executive summaries for stakeholders.
Conduct ad hoc financial analyses (e.g., product profitability, customer margin analysis, pricing sensitivity, and cost-to-serve) to inform commercial decisions and strategic initiatives.
Analyze sales and operational data in partnership with Sales, Operations, and Supply Chain teams to surface insights, identify trends, and propose measures to improve margin and working capital.
Validate and audit transactional data in ERP systems (e.g., SAP, NetSuite, Oracle) to ensure data integrity, resolve discrepancies, and recommend process improvements.
Build and automate recurring financial processes and reports using Excel (pivot tables, advanced formulas), VBA, SQL queries, or scripting to reduce manual effort and improve accuracy.
Prepare financial support documentation for internal and external audits, providing reconciliations, explanations, and audit trail materials to meet compliance requirements.
Assist with cash flow forecasting, short-term liquidity management, and AR/AP analysis to support treasury operations and ensure sufficient working capital.
Evaluate capital expenditure requests by performing ROI, payback period, and NPV analyses and summarizing recommendations for approval committees.
Collaborate with cross-functional stakeholders to implement cost control initiatives, efficiency projects, and process standardization across the finance function.
Monitor and report on key financial covenants, balance sheet metrics and debt schedules, escalating any potential covenant breaches or cash concerns to management.
Participate in the design and implementation of new financial systems, ERP upgrades, or reporting platform rollouts by supporting requirement gathering, testing, and training.
Prepare board-level and executive presentations translating technical financial detail into concise, decision-ready summaries and scenario implications.
Support pricing and contract analysis by modeling the financial impact of proposed deals, incentives, and rebate structures on margin and profitability.
Maintain up-to-date knowledge of accounting policies (GAAP/IFRS) and tax implications to ensure financial reporting and analyses comply with regulatory and corporate standards.
Track and report on departmental budgets and spend-to-date for cost centers, partnering with managers to ensure spend alignment with approved plans.
Drive continuous improvement in financial controls and documentation, developing standard operating procedures (SOPs) and ensuring audit-readiness across routine processes.
Mentor junior finance interns or entry-level staff by reviewing work, sharing analytical techniques, and helping them develop financial reporting skills.

Secondary Functions

Support ad-hoc managerial requests such as competitive analysis, market sizing, and business case development for new initiatives.
Contribute to process improvements by documenting current-state workflows, recommending automation opportunities, and piloting new reporting tools.
Facilitate cross-functional financial education sessions to improve business literacy and adoption of financial KPIs among non-finance stakeholders.
Assist in tax data collection and coordination with external tax advisors to support compliance and filing activities.
Participate in quarterly business reviews and operational planning meetings, providing analytical support and follow-up on action items.
Help maintain master data integrity (cost centers, GL accounts, product hierarchies) and coordinate updates with ERP administrators.
Review contracts and vendor agreements from a financial perspective to ensure terms align with company cash flow and expense policies.
Support sustainability or ESG-related financial reporting efforts by collecting relevant cost and investment data where applicable.

Required Skills & Competencies

Hard Skills (Technical)

Advanced Microsoft Excel (pivot tables, Power Query, advanced formulas, macros/VBA) — essential for modeling and reporting.
Financial modeling and forecasting techniques (scenario analysis, sensitivity testing, driver-based models).
Budgeting and reforecasting experience within a corporate FP&A context.
Month-end close processes, journal entries, and account reconciliations.
Accounting knowledge (GAAP/IFRS fundamentals) and variance analysis.
ERP system experience (SAP, NetSuite, Oracle, Microsoft Dynamics) for transactional validation and reporting.
SQL proficiency for extracting and manipulating financial and operational data from databases.
Business intelligence and visualization tools (Power BI, Tableau, or Looker) to build dashboards and management reports.
VBA or Python scripting experience for automation and process improvement (preferred but not always required).
Competence with financial consolidation tools, general ledger systems, and subledger reconciliations.
Familiarity with cash flow forecasting, working capital management, and treasury basics.
Experience preparing materials for audits and working with external auditors and tax advisors.
Strong data validation and quality assurance practices, with attention to data lineage and reconciliation.

Soft Skills

Excellent analytical and problem-solving skills with a strong attention to detail and accuracy.
Clear and concise verbal and written communication skills for presenting complex financial information to non-financial stakeholders.
Strong organizational skills with the ability to manage competing priorities and meet tight deadlines.
Collaborative team player who builds cross-functional relationships and influences without authority.
Proactive mindset with a continuous improvement orientation and comfort driving change.
Business acumen and commercial awareness to translate financial metrics into strategic recommendations.
High level of integrity and professionalism when handling confidential financial information.
Adaptability and resilience in a fast-paced, dynamic corporate environment.
Critical thinking and curiosity to ask the right questions and challenge assumptions.
Presentation and storytelling skills to craft executive summaries and dashboard narratives.

Education & Experience

Educational Background

Minimum Education:

Bachelor's degree in Finance, Accounting, Economics, Business Administration, or related quantitative discipline.

Preferred Education:

Master’s degree in Finance, MBA, or partial completion of professional certifications (CPA, CFA Level I or II, ACCA).
Additional coursework or certification in data analytics, SQL, Power BI, or financial modeling is advantageous.

Relevant Fields of Study:

Finance
Accounting
Economics
Business Administration
Mathematics, Statistics, or Data Analytics

Experience Requirements

Typical Experience Range:

1 to 3 years of progressive finance or accounting experience (internships and co-ops may be considered).

Preferred:

2 to 4 years of experience in corporate finance, FP&A, financial reporting, or accounting roles with demonstrated ownership of reporting cycles, modeling, and stakeholder interaction.
Experience in the company’s industry (e.g., technology, manufacturing, services, retail) or with similar ERP and BI tools is a plus.
Demonstrated track record of process improvement, automation, and cross-functional collaboration.