Business Analyst and Finance
It's well known that Business Analysis entails a clear understanding of the company one works in and then help in executing the projects involved with the working of the company. Right from the word go, a Business Analyst ( BA ) has to take care of the customer requirements, end user specifications, and probable problems involved in development and execution, existing and planned system modalities, and the functional processes involved in the job to be able to implement it to the client's satisfaction. This is a necessity of the very livelihood of a BA. This becomes the general description of the character of work of a Business Analyst.
How does it differ or rather define differently for the Finance domainname?
The most crucial requirement for a BA is to realize the intricacies of this domain, he's working in. Therefore, in the event of the fund domainname, a BA ought to be aware of the operation of the overall means of working of finance business and needless to say, the particular way of working of the particular sub domain under the finance realm, that he is functioning in. Examples of those particular sub domains may be 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 different sets of rules and regulations, combined with particular terminologies for every sub industry, a good grasp and comprehension of the several terms used from the day to day functioning of these sub domains will maintain a Business Analyst in good stead. Knowledge of performance metrics in the sub domain domain is always advantageous to some fantastic BA and that shows he knows how the aims are set and performance is measured in the sub domains.
Apart from having basic knowledge of the front office and back office operations, the Business Analyst must have good communication skills and great management skills to work well. As is understood, a Business Analyst is a bridge between the technical staff which comprises of applications programmers and software engineers, and the end user, that's the customer of this job. If the bridge isn't well-oiled and is shaky and laborious because of lack of knowledge on part of the Business Analyst, the project will fall apart. Hence the company analyst must ensure he is up to date with the most recent developments in the area that he is working in, and the particular demands of the project.
Good management skills will enable the Business Analyst to understand the necessities of the end user and the issues faced by the technical programmers in achieving the requirements desired. The technical skills of coding and programming and knowledge of latest software has to also be be known to the Business Analyst so he can comprehend the working of the technical staff and be able to guide them appropriately to execute the job to success.
More Information Here Alastair Majury University of Stirling