What Communication Skills are Typically Needed in Finance?

The field of finance is a number-intensive discipline, making it crucial for professionals to develop adequate communication skills to make their work product relatable to laymen. The financial strength of any organization determines how effectively corporate goals can be met and the overall mission accomplished given the resources at hand. Crunching the numbers and analyzing operational successes as reflected by the data is a critical part of business systems. However, getting everyone on board with strategies based on historical data means ensuring that the information is communicated effectively and in a timely manner.

Financial Experts Need Written Communication Skills

Finance deals with data, but it is important that the financial professional is able to explain the significance of data generated while composing a narrative for the implications and significance of said data. The financial expert should be able to explain trends, patterns and forecasts in clear and coherent ways. These explanations should be concise and information-laden because executives are often too busy to read long reports. Technical report writers should be skillful enough to use jargon when necessary to turn out professional reports. At the same team, it is also the responsibility of the financial team to make sure that reports are readable by laymen.

Verbal Communications for Presentations

Small-group meetings, conferences and conventions are typical venues for presenting and discussing financial reports. The financial team may be tasked to create and present these reports to small and large groups. The team should be able to translate complicated data to simpler terms while makings sure that the presentation is interesting to the audience. Even in one-on-one discussions, highly developed verbal skills are crucial to getting the point across and to persuading influencers to get behind a proposal or project.

Nonverbal Communications are Necessary Life Skills

Communicating nonverbally may seem like an instinctive skill, but communicating without words requires that one is conscious of the possible interpretations of certain gestures, facial expressions, body movement and other aspects of physical expression. As a financial professional, it may be necessary at times to adapt a poker face especially when discussing sensitive data with clients and superiors. The old saying that “It’s not what you say but how you say it,” applies very well when discussing financial information. Strive for emotional neutrality whether delivering good news or bad news.

Interpersonal Communications can Move Things Along

Interpersonal communications refer to small-group interactions in a face-to-face setting where the ensuing dialogue may be unrestricted. This typically happens in settings where individuals are already familiar with each other, ensuring that the exchange may be more intimate and discussions more pointed. For financial pros, this is the kind of setting where controversial issues may be settled or transactions are brought to closing, making it important that anyone involved in the financial aspect of organizations is well-versed in the nuances of interpersonal communications.

Chron.com explains how communication skills are fundamental strengths for anyone involved in a business or financial field. The ability to translate technical data into usable information for those who may be unfamiliar with financial jargon is a key skill for finance professionals. Whether one is presenting to a group or persuading an audience to get behind an initiative based on an organization’s financial performance, it is vital to have the written, verbal, nonverbal and interpersonal communications skills to do so effectively.