Being tech-savvy and innovator is at the core being of financial engineers. To this day, some recruiters and clients are still under the big misconception that only numbers matter, but the truth is, there’s more to this than meets the eye.
What are the 5 necessary soft skills financial engineers must have to remain competitive in 2020 that go beyond finance, predictions, and investments? Let’s find out.
Complex Problem Solving
Everyone knows that financial engineering is the application of mathematical methods used to solve problems in finance; however, financial engineers will face other obstacles along the way in their careers. With the various digital transformations happening and impacting the majority of the sectors, working professionals need to develop the necessary skills to solve problems in teams, markets, competition, and potential external threats that can seem to be out of their control.
Critical Thinking
Practicing critical thinking in finance is a challenging yet enticing and one must wear several hats at the same time since there are eight elements of critical thinking:
- Purpose
- Question at issue
- Information
- Interpretation and inferences
- Concepts
- Assumptions
- Implications
- Point of view
Critical thinking is a must for everyone looking to succeed in today’s financial market. As the nature of businesses is changing and becoming more complex, the need of critical thinking is big.
Risk managers are stepping out of their “typical” job description and are finding it necessary to step into the shoes of a well-cultivated critical thinker who will raise vital questions and problems, gather and analyze relevant information to come up with applicable solutions.
Mentoring Future Financial Engineers
That’s right! Being a mentor for freshmen, and even high school students interested in Financial Engineering, is a sign of great leadership. This skill can be sharpened by participating in networking events and job fairs that give graduates to not only connect with their peers, but also review and share their knowledge of the market and the workplace.
The Alumni network at ESiLV graduate school of engineering in Paris makes sure that all the students are actively participating in the events organized by the school. With over 6000 members worldwide, they get to participate in workshops, seminars, trainings, conferences, fairs, and so many other opportunities to be able to share their professional experience and guide currently enrolled students in the decision making process.
Interpersonal Communication
Yes, being analytical is necessary, but since most engineers will work for large investment banks and hedge funds that employ hundreds of people, they’ll need to step up their “people connection”, which will benefit them when dealing with clients outside their office.
As the financial markets are becoming more and more complicated, hiring people that excel in analysis and mathematics is one thing, but recruiting those with strong personal skills will make sure to lock the clients and keep them loyal.
Financial Engineers Pitching an Idea
It’s not always easy for financial engineers to effectively communicate big ideas, especially if they’re addressing clients and potential investors, and even recruiters. “Selling” themselves and their skills goes beyond just a strong portfolio but also goes into using previously acquired technical skills to support the soft skills and improve them.
For instance, when pitching an idea, they can rely on conveying an image of collaboration with a clear image of the end result.
This means using numbers and figures while showcasing a strong character that generates big numbers while working in teams and not just as a solo player. Also when pitching, it’s important to train oneself in talking confidently, in the right posture and body language, and clearly.
Apply for the Master’s degree in engineering with emphasis on Financial Engineering at ESiLV.