Stop Guessing—Know Exactly What Skills Your Finance Team Needs

Ever feel like you're constantly putting out fires because your team lacks the right skills at the right time?

Finance leaders often assume they have the right talent in place—until a critical deadline exposes gaps in expertise. The result? Missed reporting deadlines, compliance risks, and overburdened teams.

The fix isn't just hiring more people—it's knowing exactly where your team's strengths and weaknesses are before they become a crisis.

Quarterly Competency Gap Analyses: A Proactive Approach

Instead of waiting for problems to surface, leading finance teams use structured skills matrices to regularly assess and close competency gaps. By reviewing core competencies every quarter, finance leaders can align development efforts with business needs and ensure teams are growing in the right direction.

The Four Pillars of Finance Team Success

Technical Expertise

A strong finance function requires deep technical skills to ensure compliance, accurate reporting, and sound financial management. Key competencies include:

• Financial reporting (GAAP, IFRS, SEC requirements)
• Compliance and internal controls
• ERP system proficiency
• Tax planning and regulatory knowledge

Strategic Insight

Finance is no longer just about tracking numbers—it's about influencing business decisions. Finance professionals must be able to:

• Develop forecasting and budgeting strategies that drive growth
• Partner with business units to provide financial insights
• Assess and mitigate financial risks
• Build data-driven models for scenario planning

Operational Excellence

Efficiency and accuracy are critical in finance operations. Teams that master process optimization can:

• Automate routine transactions, such as reconciliations using software like FloQast
• Implement cost control measures to improve profitability
• Streamline month-end close processes
• Leverage AI and automation tools to reduce manual errors

Leadership & Soft Skills

Finance leaders must be strong communicators and cross-functional collaborators. Critical leadership skills include:

• Team management and coaching for professional development
• Clear communication with executives and key stakeholders
• The ability to influence strategic business decisions
• Cross-functional collaboration with IT, HR, and operations

Why This Works

• Proactive skills planning reduces last-minute fire drills and capacity shortages
• Employees stay longer when they see a clear path for development
• Finance leaders gain insight into potential talent risks before they cause turnover or burnout

High-performing finance teams don't leave talent development to chance. They build it into their strategy.