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Finance

Skills trends for finance leaders

Today, accounting and accountability go hand in hand.

The emergent environment for finance leaders in Australia is increasingly characterised by a need for adaptability and integrity amidst a rapidly changing economic landscape. With rising interest rates, inflationary pressures, global market volatility, and increased expectations around environmental, social, and governance (ESG) reporting, finance leaders must navigate a complex array of challenges while maintaining financial stability and strategic growth. Skills trends for finance leaders see a shift towards digitisation and the adoption of advanced technologies, such as artificial intelligence. They are now expected not only to manage financial performance but also to drive data insights and sustainability across their organisations. This requires a proactive approach to risk management, where traditional financial metrics are augmented with data-driven modelling and scenario planning.

Additionally, regulatory changes and increased scrutiny of corporate governance are shaping the responsibilities of finance leaders. The recent updates to Australia’s Work Health and Safety Act, along with the broader Fair Work Legislation, exemplify the growing emphasis on compliance and ethical standards. Finance leaders must ensure that their organisations not only meet these regulatory requirements but also embed them into their broader corporate strategy. As stakeholders demand greater transparency and accountability, finance leaders are increasingly involved in ESG initiatives, requiring them to balance financial objectives with long-term sustainability goals. This evolving landscape calls for finance leaders who are not only technically proficient but also strategic thinkers capable of leading their organisations through uncertainty and change.

Trends for finance leaders

What trends are dominating the emerging environment in finance?

Digitalisation and AI Integration

The integration of digital technologies and AI is transforming financial tasks, enhancing efficiency, accuracy, and strategic capabilities. AI-driven software is automating complex tasks like tax preparation and auditing, allowing finance professionals to focus on strategic roles and data analysis.

Shift Toward Advisory Services

There is a significant shift from traditional accounting roles to advisory and consulting services. Financed professionals are increasingly providing strategic financial advice, risk management, and business growth strategies, positioning themselves as trusted advisors to their clients.

Emphasis on ESG and Sustainability

Environmental, social, and governance (ESG) considerations are becoming central to financial strategies. Finance professionals are integrating ESG factors into financial planning and reporting, reflecting a growing demand for sustainability and corporate respobsibility from investors and consumers.

Data Security and Privacy

Protecting sensitive financial data remains a top priority. Finance professionals are in vesting in state-of-the-art data security measures to safeguard information integrity and comply with regulatory requirements. Demand for Financial Planning and Analysis (FP&A): The demand for FP&A professionals is rising as businesses seek strategic financial planning to navigate economic uncertainties. These roles are critical for analysing financial data, forecasting trends, and supporting informed decision-making.

Increased Focus on Talent Retention

Retaining skilled finance professionals is crucial amid a competitive talent market. Strategies include offering competitive salaries, professional development opportunities, and fostering positive work cultures to maintain a motivated and capable workforce.

Enhanced Use of Data Analytics

The role of data analytics in accounting is growing, enabling finance professionals to interpret large columes of financial data, identify trends, and make data-driven decisions. This capability is vital for effective financial analysis, fraud detection, and risk management.

Emerging Skills

What data tell us about the skills finance leaders should build for the future.

01.

Financial Operations - 95% increase

Financial operations encompass the management and oversight of a company's financial activities to ensure efficient use of resources, accurate financial reporting, and compliance with regulatory requirements.

02.

Financial Controlling - 87% increase

Financial controlling involves the processes and activities that ensure a company's financial resources are effectively managed and utilized to achieve its strategic objectives.

03.

Budgeting and Forecasting - 48% increase

Establishing budgets and forecasts to guide financial planning and resource allocation. This process helps in setting financial targets and predicting future financial conditions.

04.

Business Analytics - 48% increase

Business Analytics is the practice of using data, statistical analysis, and quantitative methods to make informed business decisions. It involves transforming data into actionable insights that can improve business performance.

05.

Quantitative Finance - 42% increase

Qualitative Finance involves the use of non-numerical data and subjective judgement to analyse financial markets, investment opportunities, and economic conditions. This skill focuses on understanding the qualitative aspects of finance, such as company management, brand-strength, market sentiment, and industry trends.

Our Team

Meet our Talent Team specialising in Finance capability trends

The leadership capabilities of tomorrow are uniquely human.

The urgency to cultivate leadership capabilities alongside technical skills, especially among emerging leaders, cannot be overstated.

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