What is the most crucial competency in finance?

Andrew Denney Springfield MO
3 min readMar 22, 2023

Employers value technical expertise but also look for soft skills or social and emotional competencies. These abilities are crucial because they enable you to establish relationships, settle disputes, and win consumers’ confidence. These abilities can be acquired through instruction, work experience, or reading books and articles.

Due to the complexity of the banking industry, strong communication skills are essential. Clear communication is crucial for any professional, whether sharing accounting information with other teams or talking to a client about a financial issue.

You must know your audience and how they prefer to receive communications to communicate effectively. Additionally, you must pinpoint how your message affects their goals or routine tasks.

Respect, consideration, and an open mind are necessary for effective communication. This encourages them to speak more freely and aids in their comprehension of the person they are chatting with.

A critical thinker can evaluate data and reach reasoned conclusions. They can view many problems from angles beyond what is immediately apparent.

Although it might be challenging to demonstrate, critical thinking is a necessary talent for a successful career in finance. Consider pursuing Deakin’s professional practice credentials, which are micro-credentials that enable you to validate your abilities at an academic level if you wish to demonstrate your critical thinking abilities.

You need to have a plethora of subject-matter information pertinent to the field of study or activity you are working in to develop your critical thinking skills. Additionally, you must possess the patience and tenacity necessary to pursue problems objectively.

Having the ability to recognize and address problems is problem-solving. It may help you develop in your job and is a shared talent for senior managers and entry-level employees.

Employers are inclined to prioritize problem-solving talents above technical capabilities in recruiting decisions because they feel these skills are becoming increasingly significant. This implies that in both your CV and cover letter, you should emphasize your experience addressing problems.

It’s crucial to understand how to confront issues head-on and find speedy solutions, whether attempting to address a client complaint, install new software systems, or enhance corporate information flow. You can prove you’re a competent problem-solver and increase your chances of landing a job by being proactive and coming up with solutions.

The capacity for innovative, inventive solutions to address business problems is known as creativity. Innovation is only possible with this skill.

Although it might be an inherent talent, creativity can also be acquired through work and practice. Openness to new experiences and curiosity are the only two characteristics linked to creativity.

Highly creative individuals frequently seek out innovative experiences and answers. They are also open to hearing different viewpoints.

Leadership is the capacity to inspire and encourage people, fostering harmony and favorable conditions. It is common for finance directors to be in charge of making strategic choices and directing staff members toward achieving predetermined objectives within their organization.

The most successful leaders can motivate followers to act and change the world. These bosses frequently have lofty objectives, a clear sense of mission, and solid team relationships.

Any position in the financial sector requires the ability to lead. These qualities are crucial for inspiring employees to succeed and guaranteeing the long-term expansion of the business.

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Andrew Denney Springfield MO

Andrew Denney of Springfield, Missouri is a highly accomplished financial services executive and business owner.