Assesshub’s online psychometric assessment enables you as an employer to profile candidates on the basis of their financial management skills to select the right candidate.
With an online psychometric test of financial management skills as well as a financial management assessment test, your organization can easily examine if the candidate is a perfect fit for a finance role.
Here are some typical personality characteristics listed that employers usually seek before hiring their finance management staff.
Strong Analytical skills.
The ability to demonstrate logical thinking in order to gather and analyze a variety of information is an absolute necessity in the finance field. Strong analytical skills are essential because financial managers must be able to analyze an organization’s financial operations and make alterations accordingly. Financial management skills include being detail oriented and have excellent math skills to ensure accuracy of financial reports. Strong communication skills are also important to share information with other employees in a concise, logical and precise manner.
Strategic planning and implementation
A financial manager is beyond conventional bookkeeping. Financial management is about finding ways to fund the company’s goals, its employees and its shareholders. A financial manager should know how to think strategically and plan efforts to get the best results. Successful financial managers need to act strategically and implement their plans effectively. A good sense of direction to develop and operate from a plan to guide their efforts is required. A financial manager should be capable of translating the business strategy into action to meet goals and objectives of the organization.
Technologically driven
A successful financial manager should be techno-savvy. In the financial services industry, tech skills are becoming a necessity for candidates. Top financial executives are increasingly finding their jobs interlinked with technology. Everything from picking financial systems, to managing financial reporting, and ecommerce transactions involves both financial and technology leadership. It is absolutely critical that one must have a firm working knowledge of the systems and strong political ties to technology leadership.
Business process
Apart from understanding how money flows through a company, complete knowledge of business processes is imperative. Being familiar with the business process, a good financial manager can find the root cause of financial loss and help design processes that will be more efficient in the future. A comprehensive understanding of business processes allows a finance manager to find ways to minimize costs within the company, add value to business processes, and minimizing work performed and also enhancing customer service.
A financial manager should constantly improve back-end finance and accounting processes such as closing the books, preparing financial statements, and applying cash to outstanding receivables. There are many back-end processes that a financial manager has to take account into which has a direct impact on customer service and the goodwill of the company.
Managing Change
A good financial manager should be an expert in measuring results of change in the organization. Good leadership skills, effective strategy, in-depth knowledge of business processes are all crucial for a financial manager. These skills can initiate changes within an organization in many different ways. Strategic thinking and actions create systematic changes that work towards a clearly defined goal, and business processes management can help you create the most operational change for any organization.
Work Ethic
Financial managers need a strong work ethic to help them with different jobs and responsibilities. Financial managers have to work for longer hours especially during crucial times of the year such as tax filing, making quarterly financial reports. Most employers also require industry-specific experience because each industry requires different financial skill sets. Financial managers should be conversant with the changes in an industry’s financial and accounting procedures.
Communication skills
Whether one is as an investment banker or financial planner, communication skills are always vital. A good financial manager should be able to communicate with managers, coworkers and clients. One should be able to readily pivot your communication efforts to the chosen channels, platforms and styles of everyone one encounters.
How:
The online psychometric test for financial management skills test is designed to assess the candidate’s financial skills based on the above traits as well as on attributes such as leadership skills, strategic thinking, and financial acumen, decision making skills, managing risks and prioritizing tasks.
Assess hub’s financial management tests help in selecting the right candidate for a finance managerial role by maximizes talent, identifying areas of improvement, measuring core competencies ,change management, accountability, critical thinking, analytical skills and managing resources.
Why:
To be a proficient financial manager, you need to understand the strengths, weaknesses, threats, and opportunities your company faces today and in the future.
The more skilled a financial manager is at handling people and projects, accepting challenges in multiple areas the more value addition to the organization. An effective financial manager should have strong technical and numerical skills base along with proficiency in a number of other skills such as communication, motivation, team building and other skills mentioned above. Assesshub’s online psychometric test will guarantee this for you.
Main advantage:
Assess Hub’s online psychometric test of financial management skills provides a detailed analysis of your prospective and current or potential employees’ suitability for a financial management role.
The ability to customize these tests gives you a competitive edge to ensure that it suits your industry as well as the level for which you are recruiting.
Key advantages include retention, training and development, accountability, increasing productivity, greater profitability by setting the correct pricing for products or services, reducing the costs of raw materials, negotiating supplier prices.
It is due to the efficient financial management that the value of a firm is increased, while the ability of a business entity in terms of its profitability can be established as well as the liquidity position be maintained ingeniously at all times.
