Finance Business Partner Skills: What Are Executive Recruiters Prioritising?

In recent years, the term ‘Finance Business Partner’ has been widely used in many job descriptions, interviews, and resumes.

The common thread in the varying definitions of ‘Finance Business Partner’ lies in the incumbent being viewed by operational and/or commercial stakeholders as the go-to finance subject matter expert whose financial insights can help to influence a strategic decision and/or outcome.

Below, I have highlighted the critical skills that are increasingly prioritised in Kerry Consulting’s identification of an effective Finance Business Partner:

Ability to Translate Data into Actionable Insights

The capacity to transform large and/or complex data sets into insightful presentations, working knowledge of advanced Excel skills, Business Intelligence (BI) tools and programming skills are increasingly sought after.

Advanced Excel skills, including knowledge of functions, formulas, and pivot tables, enable professionals to perform complex financial modelling, data analysis, and reporting tasks efficiently. Excel proficiency enhances data accuracy, streamlines processes, and facilitates the creation of dynamic financial models.

Proficiency in BI tools, such as Tableau or Power BI, is a valuable technical skill as these tools enable finance business partners and finance professionals to visualise data, create interactive dashboards, generate reports, and derive actionable insights from complex datasets. BI tools empower professionals to analyse data effectively, identify trends, and make informed decisions to drive business growth.

Basic programming skills in languages such as Python, R, or SQL are becoming increasingly important as they enable finance professionals and finance business partners to automate repetitive tasks, conduct data analysis, develop financial models, and work with large datasets efficiently. Programming skills enhance productivity, facilitate data manipulation, and support advanced analytical capabilities in finance.

Above all, the ability to translate data into meaningful insights will enable the business to deploy actionable strategies to support business growth and evolution.

Analytical and Problem-Solving Skills

Strong problem-solving skills, accompanied with a high level of analytical thinking and attention to detail, enable finance business partners to analyse situations, identify root causes, and develop effective strategies to address financial challenges.

The role of a finance business partner requires grounded fundamentals in the areas of accounting and finance, with increasing emphasis on the ability to (i) interpret and analyse information from different sources (macroeconomic, financial, etc.), (ii) identify trends and connect the dots, and (iii) evaluate options and implement solutions – all of which are crucial in navigating the dynamic landscape today.

Ability to Influence Stakeholders

The ability to influence and manage stakeholders stems from strong communication skills. Clear and concise communication is essential for presenting financial information, collaborating with team members, and building relationships with clients and stakeholders. The role of a finance business partner requires an ability to convey insights drawn from complex financial concepts in a way that is easily understood by a diverse audience, and thereafter influence an action from said audience.

Ability to Balance Strategic and Risk Management Objectives

While advising operational and commercial stakeholders, an effective finance business partner weighs the risks and opportunities, and balances risk management considerations vis-à-vis financial and strategic objectives. Understanding risk management principles and evaluating risk factors is essential for safeguarding assets, managing uncertainties, optimising risk-return trade-offs, and ensuring financial stability for the organisation.

Resilience, Agility, and a Growth Mindset

To achieve a sustainable career in finance, a combination of resilience, agility, and a growth mindset is required for finance business partners to align themselves’ to the finance transformation journeys of many hiring organisations today. With technological advancements, regulatory changes, and market fluctuations, finance business partners need to be flexible and open to learning new skills and approaches. Adaptable finance business partners can effectively respond to change, leverage new opportunities, and drive innovation within their organisations.

An Evolving Role

The role of a Finance Business Partner is evolving rapidly, necessitating a dynamic skill set to meet the demands of today’s business landscape. The finance business partner skills outlined above highlight the multifaceted nature of this role, emphasising the need for technical prowess, analytical acumen, communication finesse, strategic thinking, and agility.

As organisations continue to undergo finance transformations, the ability to transform data, solve complex problems, influence stakeholders, balance strategic objectives with risk management, and maintain a growth mindset will be paramount for success in this role. By cultivating these skills, finance professionals can not only navigate the challenges of today but also drive innovation and contribute significantly to the strategic growth and stability of their organisations in the future.

I urge finance professionals to embrace the opportunities for growth, invest in your skill set, and leverage your unique blend of soft skills and technical skills to make a positive impact and drive innovation in the finance industry.

Find out how Kerry Consulting can help you take the next crucial step in your career.