Richard Okon | CFO of a multi-location tertiary healthcare institution, St. Nicholas Hospital | CEO of an M&A investment and advisory firm.
The finance sector has been going through rapid changes in the past few years with the advent of fintech, AI and automation, as well as the popularity of outsourcing. I expect 2025 will not be much different.
We have seen a move away from offices in highbrow business districts to working from home and virtually. Countries, including the United States, are ahead of less developed markets in terms of fractional CFOs and outsourcing accounting and finance roles, but other markets are adopting these practices rapidly.
Finance experts and people looking to move into finance roles must keep pace with these changes and continue to upskill to remain relevant. These are the most in-demand skill areas I see for 2025:
1. Risk Management
With the constantly fast-evolving financial landscape, risk is a major area finance professionals must be well-versed in. This includes knowing how to identify, assess, monitor and mitigate risk. You’ll also want to be skilled in scenario planning, stress testing and quantitative risk analysis.
2. Fintech
In recent years, technology has been playing a bigger role in finance. In fact, finance and technology are practically becoming one. Sometimes it’s hard to tell whether a provider is a tech company or a finance company.
Finance professionals must be comfortable with the latest product advancements, be those blockchain, crypto or payment platforms. Staying relevant will depend on quickly adopting and adapting to financial innovations.
3. Regulations And Compliance
Everybody is trying to catch up with the pace at which technology is changing things—and this includes regulators. As a finance professional, you need to stay abreast of the constantly changing regulatory environment to ensure your business is compliant and mitigate any resultant risks. These include tax laws, money laundering laws, foreign exchange laws, banking regulations, trade regulations, etc., depending on which sector you are in.
4. Financial And Data Analysis Including Modeling
Expert knowledge of spreadsheets and building complex finance models is key. Financial professionals need to analyze and carry out in-depth valuations as well as produce strong projections and financial forecasts.
You must, therefore, have strong Excel skills. You also need to be able to mine data, read and understand data, understand statistical analysis techniques, and be able to communicate these to the required stakeholders for decision making. Your business and career depend on this.
5. ESG
All businesses must consider environmental, social and governance factors in everything they do, especially when it comes to investments. Even something as simple as purchasing motor vehicles for your business could be an issue due to the impact of fossil fuels on the environment. You need to understand ESG principles to remain socially responsible.
6. General Business Skills
Lastly, strong communication and problem-solving skills will continue to be in high demand for finance pros in 2025 and beyond.
Upping Your Skills
To improve your skills in the areas above, consider the following:
1. Boost your credibility. You can do this by acquiring relevant certifications such as ACA, ACCA, CPA or CFA as well as industry-specific certifications. Quite a number of organizations also provide continuing education for their members where they learn about industry happenings and changes.
You can also join industry associations such as fintech associations and attend specialized programs. For the financial industry, such programs could include modeling and data analysis, risk management, credit, trade finance and leasing, among others. You can showcase these on your profile and resume to highlight your commitment to continuing education and staying involved in the industry.
2. Attend conferences, webinars and industry activities to network and stay abreast of things happening in your sector and industry. Talk with experts so you are aware of what’s going on in your sector/industry.
As dynamic and challenging as finance is, it also offers a lot of potential for those who have the drive, skills and knowledge and who stay relevant by continuing to learn and adapt to changes in the market.
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