5,000 jobs were lost in banking with the collapse of Lehman brothers, more are expected with nationalisation of Bradford and Bingley. As the financial crisis continues it seems that “recession-proof” jobs are increasingly difficult to find.
Yet as petrol prices remain high and environmental concerns are hot topics, oil companies continue to generate large profits. Companies in this sector are reacting by recruiting the highest level of candidates on the market. Is this where you should be focusing your attention?
Did you know that coal production in the UK is once again on the increase? So much so that a Hatfield colliery, which closed in 1994, was recently reopened?
Well if you’re an aspiring Finance Analyst, it’s probably worth some investigation. Business analysis in the energy industry is critical and delivers effective and innovative financial services as well as supporting manufacturing, production and retail. Good analysts identify cost-saving ideas, revenue growth opportunities, and strategies for productivity improvements.
If you want to be a truly successful analyst you need to learn the art of forming insightful conclusions in real terms rather than simply extracting the facts and figures. Great Finance Analysts tell the story behind the data. If your ambition is to progress to Chief Financial Officer, you need this skill more than any other.
If you’re preparing your CV for applications of this nature make sure you show that you understand the value of acquainting yourself with business - ledgers, sales, inventory etc. This will allow you to identify the limitations of the data and in turn to recognise the importance of what you’re reporting on.
A recruiter will be keen to hear about this perspective and will want you to spot where process improvements can be made. In your interview illustrate specific examples of gaining insight from taking a step back and applying a fresh look to existing processes. If you’re really going to stand out from the crowd you need to be the candidate that thinks like an entrepreneur.
A solid understanding of the company's products and the energy markets is also vital. This will provide insights into the components of revenue and expense that should be analysed. You must prove yourself capable of anticipating how changes in the industry or economy will affect a business and realise the impact of competitor or government actions and changes in OPEC policies.
If you don’t have sector specific experience, demonstrate that you’ve done your research and that you understand these core concepts. Wherever possible draw comparisons with the markets that you do have experience in.
The office of National Statistics reports that the contracting arm of the oil and gas sectors will weather the downturn and remain as robust as ever. Contractors offer employers flexible, highly skilled people at very low risk and relatively low cost. This could be an important factor to consider if you’re looking to break into a new sector.
Comments