Your brilliant career: 7 popular accounting and finance roles

1 Dec 2023

7 min read time

At a glance

There are many pathways to achieve career success and fulfilment in today’s labour market. As career paths becoming increasingly non-linear, a lateral move may help job seekers to achieve a long-term career goal.

The role of accountants and finance professionals is constantly evolving. As professionals who can elicit meaningful insights within complex data, assist with organisational decision-making and contribute to strategy and planning, accountants and finance professionals are in high demand.

As diverse roles are open to accountants at all stages of their career journey, here are just seven of the most popular roles in accounting and finance.

1. Financial accountant

Financial accountants provide high-level financial accounting support. This includes processing month-end journals, completing balance sheet reconciliations, assisting in the preparation of annual accounts, and supporting interim and year-end audits.

With the right skills, qualifications and experience, it is possible to progress to financial accountant from an entry-level accounting role.

Key skills and strengths

Develop strong skills in external reporting.
Understand how to actively apply commercial outcomes and acumen.
Find ways to use data to create meaningful insights and recommendations.
Demonstrate exceptional time management and attention to detail.
Stay abreast of compliance requirements and changes.
Consider risks, challenges and opportunities from an organisational perspective.

Professional development

Where to next?

Financial accountants who are seeking their next challenge might consider becoming a financial controller.

2. Financial analyst

Financial analysts are responsible for the financial planning and analysis of a company, enabling the company to make well-informed, commercial decisions. They also help to determine the best use of resources to achieve business objectives.

With the right skills, qualifications and experience, it is possible to progress to financial analyst from an entry-level accounting role.

Key skills and strengths

Strengthen analytical skills to clarify problems and develop solutions.
Develop advanced skills in bringing together multiple data sources.
Present data in an easily understood format that helps decision-making.
Be comfortable with ambiguity.
Design and implement controls to mitigate risks associated with data management.
Demonstrate excellent written and verbal communication skills, time management and attention to detail.
Have a collaborative approach to working with others.
Stay abreast of compliance requirements and changes.

Professional development

Where to next?

Financial analysts who are seeking their next challenge might consider becoming an ESG consultant or a finance business partner.

3. Finance business partner

Finance business partners act as trusted advisers within a business. They create sustainable value through deep business understanding and partnering with the business leaders.

With the right skills, qualifications and experience, it is possible to progress to finance business partner from a financial analyst role.

Key skills and strengths

Demonstrate high-level understanding of commercial environment in which you are operating and make plans based on this.
Be keenly self-aware and understand impact on others, using this knowledge to drive performance.
Create long-term strategies based on a detailed understanding of the external market and opportunities.
Stay abreast of compliance requirements and changes.

Professional development

Where to next?

Finance business partners who are seeking their next challenge might consider becoming a financial controller or a public practitioner.

4. Financial controller

Financial controllers oversee all financial aspects of an organisation. They have a particular focus on the strategic leadership of financial planning and analysis, forecasting, budgeting, internal controls, financial reporting to management and the board of directors and compliance with regulations.

With the right skills, qualifications and experience, it is possible to progress to financial controller from a financial accountant or a finance business partner role.

Key skills and strengths

Be a role model for behaviours that relate to professional and ethical standards.
Demonstrate advanced business, finance and financial management skills.
Be highly aware of the risks present in the business.
Develop frameworks and mitigation strategies.
Seek out new knowledge and test solutions.
Stay abreast of compliance requirements and changes.
Develop strategic responses to factors that will affect the organisation.

Professional development

Where to next?

Financial controllers who are seeking their next challenge might consider becoming a CFO or a public practitioner.

5. ESG consultant

ESG consultants are responsible for providing specialist advice and recommendations as to how organisations can embed environmental, social and governance (ESG) practices into their finance activities. These activities include strategy, external reporting, assurance, procurement, risk management, compliance, governance, reporting, project management and more.

With the right skills, qualifications and experience, it is possible to progress to ESG consultant from a financial analyst role.

Key skills and strengths

Influence change within an organisation’s internal systems and processes to build resilience and comply with sustainability-related reporting.
Seek the input and opinion of others and test hypotheses.
Engage with others and create support for new concepts and ideas.
Demonstrate excellent written and verbal communication skills.
Use data to generate clear, complete perspectives and ensure high-quality reporting.
Demonstrate confidence delivering presentations to colleagues, stakeholders and clients.

Professional development

Where to next?

ESG consultants who are seeking their next challenge might consider moving into a business advisory role.

6. Public practitioner

Public practitioners provide public accounting services. These services cover a wide range of financial, commercial and taxation activities for clients large and small, ranging from individual taxpayers to large businesses.

With the right skills, qualifications and experience, it is possible to become a public practitioner following on from a finance business partner or financial controller role.

Key skills and strengths

Demonstrate advanced management accounting skills that allow you to create value for your clients.
Be able to determine whether audit evidence is sufficient and appropriate to support the audit opinion.
Have a collaborative approach to working with others.
Communicate with clarity to articulate your point of view.
Demonstrate entrepreneurial spirit and strong work ethic.
Understand the dynamics of working in small to large businesses.
Stay abreast of compliance requirements and changes.
Exercise professional judgement.

Professional development

7. CFO

The chief financial officer provides strategic leadership of an organisation’s financial operations, governance, strategy, corporate treasury and capital. This includes providing financial stewardship and ensuring the smooth running of finance operations balanced with shaping direction and role modelling change and transformation so the entire organisation can evolve.

To progress to this role from a financial controller role you will need to strengthen your management accounting skills in order to create value for your business, be highly aware of the risks present in the business and to develop frameworks and mitigation strategies and have a keen understanding of self-presence and its impact on others in driving performance.

With the right skills, qualifications and experience, it is possible to progress to CFO from a financial controller role.

Key skills and strengths

Demonstrate high-level understanding of commercial environment in which you are operating and make plans based on this.
Be keenly self-aware and understand impact on others, using this knowledge to drive performance.
Create long-term strategies based on a detailed understanding of the external market and opportunities.
Stay abreast of compliance requirements and changes.

Professional development

Where to next?

CFOs who are seeking their next challenge might consider joining a board of directors or moving into a business advisory role.

Board of directors

A board of directors is the governing body of a company. They represent the interests of a company’s shareholders and provide guidance and advice to an organisation’s CEO and executive team. The board of directors is responsible for and has the authority to determine matters including the strategic direction, policies, practices, management and operation of an organisation.

Business advisory

Business advisers are responsible for planning and executing business strategies for the operation and financial management of a business.

4 expert tips to navigate your accounting career

4 expert tips to navigate your accounting career

Hi, I'm Kathryn MacMillan. I'm the CEO of Circle Recruitment and HR.

Career Compass

In regards to career paths, I think the strongest compass is always our passions. You're going to be in a job for a long time in your working life. You know, the retirement age keeps getting pushed further and further back. And I think that you want to have a life where you love what you do and you can sustain that love through your whole career.

I also wanted to say that you need to view that with a realistic lens as well. You may want to do something where, you know there's limited opportunity for you to get into that field or it's going to be very hard. And whilst I am somebody that 100% supports following your dreams, I think you can never go away from that realistic lens as well.

Success Barometer

People define success in their careers in a number of different ways, very much dependent on the individual. It can be wealth, it can be owning the flashy car, the beautiful home, owning a six figure salary. But it can also be happiness and it can also be a balance of those things. And I think more people in today's society, and particularly when you look at accountants and other knowledge workers, it's that work-life balance which really creates people's decision around defining their success. If they have a job that they love doing, they love using their knowledge, imparting that knowledge, there's growth and development.

But at the same time, there is that personal component. And where there's good balance with home life and your job is enabling you to have a richer home life and you have time to pursue other areas outside of your job. You know, I think once you get that balance, that is more of what people are looking for these days. What success means to you may not be the same thing that success means to me. So don't be swayed by other people's thoughts of success. It's what it means to you.

Youthful Approach

I think one of the strongest things that you can do is specialisation, because the more that you specialise and the more valuable that you are in your specialisation, let's say tax accounting, the more that the organisation is going to want to hold you there because you are incredibly valuable to them. I think also staying in a role, you have to make sure that you are still youthful in your approach to that role and you are still open to learning new things. You don't want to stagnate in a role.

Unlikely Candidates

I think that it's really important to have hobbies because what they do is hobbies and interests outside of work really broaden your experience. You get to talk with people from different walks of life. You get to experience the way that other people live or what other people do and even other thought processes the way people are a a problem.

You know, it's really about diversity, isn't it because the more that we are exposed to other ways of thinking, the better that we are going to be. But it's also important that you have the right mindset. You know, there's a great saying, "If you don't see yourself as an expert, nobody else will." So you have to start believing in yourself and believing, "I know a lot about this topic. I'm an expert in this topic." And then when you speak with that confidence, people will believe you.