Business Analyst and Finance
It’s well known that Business Analysis entails a thorough understanding of the business one works in and then help in executing the tasks involved in the functioning of the company. Right from the word go, a Business Analyst ( BA ) has to take care of the client requirements, end user specifications, and probable problems involved with development and execution, present and planned system modalities, and the functional processes involved with the job to have the ability to execute it to the client’s satisfaction. This is a necessity of the very profession of a BA. This becomes the overall description of the nature of work of a Business Analyst.
How does this differ or rather specify otherwise for the Finance domainname?
The most crucial requirement for a BA is to understand the intricacies of the domainname, he’s working in. So, in case of the fund domainname, a BA should know the functioning of the overall way of working of fund industry and needless to say, the specific way of working of the specific sub domain under the finance domain, which he is working in. Examples of those particular sub domains could include Asset Management, Capital Markets, Equity Markets, Wealth Management, Portfolio Management, Banking, Accounting, Taxation, Treasury, Audits, Insurance, Risk, Valuation, Mergers and Acquisitions, Mutual funds, Debt Markets, Foreign Exchange, Advisory, Research, Corporate Finance etc..
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Considering these sub domain have various sets of rules and regulations, coupled with particular terminologies for each sub sector, a good grasp and comprehension of the various terms used from the day to day functioning of these sub domains will hold a Business Analyst in good stead. Understanding of performance metrics from the sub domains is always advantageous to a fantastic BA which shows he understands how the aims are set and performance is measured in the sub domains.
Apart from having basic understanding of front office and back office operations, the Business Analyst should also have great communication skills and fantastic management skills to work well. As is known, a Business Analyst is a bridge between the technical staff which comprises of software developers and software engineers, and the end user, which is the client of the job. If the bridge is not well-oiled and is rusty and shaky because of lack of knowledge within the Business Analyst, the undertaking will fall apart. Thus the company analyst must ensure he is up to date with the most recent developments in the area he’s working in, and the particular requirements of the undertaking.
Fantastic management skills will allow the Business Analyst to comprehend the requirements of the end consumer and the issues faced by the technical programmers in achieving the requirements needed. The technical skills of coding and programming and knowledge of latest applications must also be be known to the Business Analyst so he can comprehend the working of their technical staff and be able to direct them suitably to execute the project to success.
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