Building a Career in Finance Business Management: My Skills and Development Plan Assignment Sample

Building a Career in Finance Business Management: My Skills and Development Plan

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Part A: Personal Statement

Attribute obtained and Transferable skills developed through a professional qualification

Analytical skills

Analytical skill is one of the most important skills one finance manager needs to step into a professional career (Bals et al. 2019). More to the context, it is found that a detailed understanding of the cash flow scenario evaluation, and financial data analysis are essential analytical skills one finance business manager needs (Doeze Jager?van Vliet et al. 2019). Throughout the course, I have developed my aptitude and financial reporting which can help in my future career as a finance manager. Based on these, I can state that the analytical skills present to me would help to improve my decision-making process as a financial management professional by aiding logical thinking. However, I have noticed that I have a limited understanding of the government contracts and provisions which applied to financial contracts.

Problem-solving skill

Another important skill or attribute which is required within a finance manager is problem-solving because it helps to analyse the budget or calculate the risk associated with it (Alshammari et al. 2020). The entire course has helped me to improve my problem-solving ability because throughout the course opportunity to calculate the risk of an investment plan through the case study. It is expected that a deep understanding of the budgetary risk assessment might help me to help my future work to achieve its financial goals without jeopardising the business. A similar study also highlighted that one finance manager should focus on logical reasoning unless it can lead to wrong decision-making which can eventually trigger financial problems within the organisation (Alajmi, 2019). Therefore, I should improve my logical reasoning ability to become a successful professional in the finance and business management industry. Improvement of logical reasoning ability would also improve my employability skills and insured employment opportunity in the highly competitive industry.

Adaptability and flexibility

The skill and attributes of adaptability and flexibility help one finance manager to respond to change quickly (Sabuhari et al. 2020). The majority of the time, I am in charge of keeping track of invoices, payments, and transactions, creating accounts payable, invoices, and purchase orders, managing petty cash, and processing payroll. I process checks on behalf of assistant accountants and maintain filing and invoice tracking systems current. In a similar context I need to highlight that adaptability helped me to understand the strategic management process one finance manager required during the module.

Original copy of CV

Improved copy of CV

LUTA MAKISI Birmingham, B19 3BB, United Kingdom 07740971795 kellymakisi@gmail.com Personal statement I am passionate about finance and business management and want to work in a productive and visionary workplace which helps each involved individual to achieve their dream with a shared development goal. Here I am highlighting my work experience, qualifications and skills below. Work Experience 1. Hozelock Ltd- Assembly Line Team Leader Duration: 05/2001 - 11/2009 Worked with team to develop solid understanding of lean manufacturing 2. Firstklasshipping Specialist Ltd- Accountant Assistant Duration: 01/2018- 08/2018 Worked in charge of Bank reconciliation transactions and was responsible for routine clerical activities, budget preparation, rapport maintenance and for basic accounting and bookkeeping duties. 3. Blessing Market store- Account Assistant Duration: 11/2014 - 04/2020 Responsible for budget management, clerical accounting tasks, record keeping and rapport maintenance. Qualifications- South City College Birmingham 2013 - 2015 Diploma Accounting AAT Level 3 Advanced in Sage Controle Stanford Training 2015 - 2016 (Pass) Higher Diploma Accounting AAT level 4 IT 2014 - 2015 level 2 IT SPREADSHEET WORD PROCESS Language- French, English. GCSE 1989 ( French school ) SSC 1994 ( French school ) Patent 1999. Business school (French school ) Sports activities- Coach in self-defence and wrestling.

Part B: Industry Sector Analysis

Career opportunities in the Finance business management industry sector

Analysis of career opportunities present within one specific industry sector helps to understand Employment Opportunities. Therefore this section of the personal development portfolio is analysing kidney opportunities present within the finance business management industry sector. According to a study, cities found that career opportunities for individuals who graduated with finance and business management degrees within the UK are wide. For instance, individuals with finance and business management degrees within the UK can work as financial analysts, investment bankers, economists, tax advisors, financial managers, or stockbrokers (Prospects.ac.uk, 2023). In terms of entry-level finance jobs, Cambridge is best as organisations operating within this sector recruit 13.5% freshers in the total workforce (Internationalaccountingbulletin.com, 2023). However, the average cost of living is high in this city, therefore one aspirant needs to select a work destination based on it. This indicates that by targeting these city-based companies one can get an entry-level job with a degree in finance business management. Followed by this, it is found that Oxford and Norwich are the next favourable destination for entry-level jobs in the field of finance and business management outside London (Internationalaccountingbulletin.com, 2023). However, it is noted that employment scope in Birmingham, Bristol, Bridgton, and Coventry has decreased in the field of finance as compared to the last 5 years (Ft.com, 2023).

Another study has criticised wanna aspirants who can face issues to find a position as an investment banker in the United Kingdom as there are limited job opportunities (Ng et al. 2021). Followed by this it is found that Goldman Sachs, Morgan Stanley, Credit Suisse and Bank of New York Mellon have recently cut more than 15000 jobs (Ft.com, 2023). This is an increasing crisis of jobs in the field of finance especially within the United Kingdom. This is not the end, as the Wall Street Bank also fired 3200 employees which are nearly 6.5% of the total workforce of this organisation (Ft.com, 2023). Hence, all these findings are reflecting that job opportunities are decreasing and to get a stable position one individual should focus on enhancing their professional skills, interpersonal skills and attributes. In this regard, a personal development plan has been made that might help to leverage employment opportunities in the field of finance business management within the chosen region.

Summary of work experience-

Concrete experience-

After working as an assembly line team leader I got the opportunity to improve my team working skills.

Reflective observation

During my tenure, when I was working as an accounting assistant I experienced a few difficulties in record keeping but improved it with the help of fellow workers.

Abstract conceptualisation

I came to know that one successful finance professional should develop analytical skills, communication skills, and information evaluation skills to become an expert on government financial contracts.

Active experimentation

I have decided to take suitable actions that can help me in improving logical reasoning ability and understanding of financial contracts and the provision applied to them.

Skill Audit

Objective/Goal	Action Required	Resources/How?	Benchmark Dates	Outcome
To improve logical reasoning and critical thinking ability	Needless to mention that logical reasoning ability is one of the essential skills that one finance professional requires to make progress in professional as well as academic careers. Wannapiroon and Pimdee (2022) suggested that increasing mathematical proficiency and learning the use of digital tools can help finance professionals improve their logical reasoning ability. Along with that, I am thinking of increasing my mathematical ability, especially in algebraic mathematics to improve my proficiency as a finance manager.	Therefore, I have decided to seek guidance from my peers and tutor in improving my logical reasoning ability. Besides, I will take one online course to learn the use of advanced finance software.	May-August 2023	It is expected that these strategies might help me to get a desirable position after completing my degree in finance and business management.
To improve understanding about government finical contracts	On the above evaluation, I have realised that I have heard a limited understanding of government financial contracts which might increase difficulty in my career when I will be operating as a finance professional in a government or private organisation. Experts have suggested that to understand government contracts one individual should go through the tender question thoroughly because it helps to understand cold requirements of the financial contracts of government (Plantinga et al. 2020). Therefore I need to follow the strategy to improve my government contract analysis skill.	I have decided to go to the library regularly to read books which have elaborate ways of understanding the financial contracts of the government.	August-December 2023	Moreover, the development of my understanding of government financial contracts might help my future organisation to understand what policies they should comply with to make financial contracts legal. Additionally, enhancement of the skill would help me to understand the risk associated with any financial contracts based on nature.
To improve knowledge about provision applied to finical contracts	Our finance professionals need to understand what provision applies in financial contracts unless they would not be able to guide the organisation where they are working as managers. Throughout the course, work has observed that they certainly fail to recall s of provisions which apply to financial contracts. As a result, it can create difficulty in my academic and future professional life	I have decided to join our digital course on the legal provision of financial contracts.	December 2023- April 2024	It is expected at the end of the course I wouldn't face such difficulty to understand specific provisions that apply to financial contracts.

References:

Alajmi, M.M., 2019. The impact of E-portfolio use on the development of professional standards and life skills of students: A case study. Entrepreneurship and sustainability issues, 6(4), p.1714.

Alshammari, F., Yahya, K. and Haron, Z.B., 2020. Project Manager's Skills for Improving the Performance of complex projects in the Kuwait Construction Industry: A Review. In IOP Conference Series: Materials Science and Engineering (Vol. 713, No. 1, p. 012041). IOP Publishing.

Bals, L., Schulze, H., Kelly, S. and Stek, K., 2019. Purchasing and supply management (PSM) competencies: Current and future requirements. Journal of Purchasing and supply management, 25(5), p.100572.

Doeze Jager?van Vliet, S.B., Born, M.P. and van der Molen, H.T., 2019. Using a portfolio?based process to develop agility among employees. Human Resource Development Quarterly, 30(1), pp.39-60.

Ft.com, (2023). “Banks prepare for deepest job cuts since the financial crisis” Available at:https://www.ft.com/content/4beafb70-ec1a-41d3-b18e-33a85bf2a062 [Accessed On: 14.04.2023]

Internationalaccountingbulletin.com, (2023). “These are the best UK Cities outside London for Finance Graduates” Available at:https://www.internationalaccountingbulletin.com/news/these-are-the-best-uk-cities-outside-london-for-finance-graduates/ [Accessed On: 14.04.2023]

Ng, K.K., Chen, C.H., Lee, C.K., Jiao, J.R. and Yang, Z.X., 2021. A systematic literature review on intelligent automation: Aligning concepts from theory, practice, and future perspectives. Advanced Engineering Informatics, 47, p.101246.

Plantinga, H., Voordijk, H. and Dorée, A., 2020. Clarifying strategic alignment in the public procurement process. International Journal of Public Sector Management, 33(6/7), pp.791-807.

Prospects.ac.uk, (2023). "Accountancy, banking and finance" Available at: https://www.prospects.ac.uk/jobs-and-work-experience/job-sectors/accountancy-banking-and-finance[Accessed On: 14.04.2023]

Sabuhari, R., Sudiro, A., Irawanto, D. and Rahayu, M., 2020. The effects of human resource flexibility, employee competency, organizational culture adaptation and job satisfaction on employee performance. Management Science Letters, 10(8), pp.1775-1786.

Wannapiroon, N. and Pimdee, P., 2022. Thai undergraduate science, technology, engineering, arts, and Math (STEAM) Creative Thinking and innovation skill development: a conceptual model using a digital virtual classroom learning environment. Education and Information Technologies, 27(4), pp.5689-5716.