Financial Planning Analyst Job Description

Financial Planning Analyst Job Description, Skills, and Salary

Are you searching for a financial planning analyst job description? Get to know about the duties, responsibilities, qualifications, and skills requirements of a financial planning analyst. Feel free to use our job description template to produce your own. We also provide you with information about the salary you can earn as a financial planning analyst.


Who is a Financial Planning Analyst?

A financial planning analyst is a finance professional whose job is to analyze financial data and provide budgets and estimations for a business. Financial planning analysts specialize in financial planning to help businesses become more financially stable and develop strategies for expansion. Determining the optimum use of resources to accomplish corporate goals is at the core of a financial planning analyst’s job description. These financial experts use financial data to create regular reports and collaborate with the rest of the finance team to analyze business performance and strategy. A financial planning analyst analyzes the information to build a workable financial model for a customer by researching economic trends, pertinent regulations, and other considerations. Typically, a financial planning analyst’s job also includes advising a business on the most effective financial investments. Regardless of the size or sector of the firm, financial planning and analysis are essential to guarantee a successful financial system. Financial planning and analysis is an expanding field that offers financial data analysis, planning, and suggestions to assist executive functioning. Essentially, financial planning & analysis is directly within the chief finance officer (CFO) of a company. Depending on how the company’s finance department is set up, a financial planning analyst would directly report to the CFO and collaborate closely with a VP of Finance, Controller, and/or Treasury Analyst. Employing these professionals helps businesses better comprehend their financial situations and strengthen their financial standing. Expert guidance and data analysis are provided by financial planning experts to organizations so they can produce accurate budgets, projections, and other financial decisions.

To provide reports and make plans, financial planning analysts examine an organization’s assets, investments, and present performance. In addition to return on investment statements, they also examine balance sheets, cash flow statements, and income statements. They calculate certain ratios, such as debt to income, debt to equity, and interest coverage, to see whether the company generates more revenue than it spends. When a company’s products or services provide the maximum profit, financial planning and analysts can identify this. They can use this to determine how to increase their investment in these product groups so they can continue to make large profits. To increase revenues, they recommend ways to cut spending on the products that may generate the lowest earnings. Financial planning analysts analyze profit margins as part of the profit and margin assessment to help the organization determine which items might generate greater revenue but lower profitability. By dividing net profits by revenue, they may determine the profit margin and determine how much you make on each dollar spent. Financial planning analysts can assess the cost-efficiency of expenditure across all goods and departments after gathering recent financial data. They look at how many individuals work a month doing data entry and how much it costs to pay them. A financial planning analyst may discover an area to be more cost-effective when comparing this to the costs for automating these tasks and educating the staff in data analysis. Financial planning analysts also establish a company’s departmental budgets, which may include the materials and tools, salaries, office space, and software required for each division to carry out its duties. The financial team might receive this data from financial planning analysts so they can merge all of the budgets into a single corporate budget. Financial departments can use this information to assess the potential costs, contributions, and areas for modification for each department.


Financial Planning Analyst Job Description

What is a financial planning analyst job description? A financial planning analyst job description is simply a list of duties and responsibilities of a financial planning analyst in an organization. Below are the financial planning analyst job description examples you can use to develop your resume or write a financial planning analyst job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.

The duties and responsibilities of a financial planning analyst include the following:

  • Work with the accounting staff and top management to prepare data for quarterly earnings.
  • Control the budget-making process and create thorough company plans.
  • Make suggestions in coordination with managers and business divisions to strengthen financial backing for all plans.
  • Create a method for business planning, write reports, and examine all key performance indicators for all financial plans.
  • Work together with various operations teams to accomplish all company goals and draft suitable business proposals and operational procedures.
  • Carry out ad-hoc analysis along with team coordination and implementation of all financial systems.
  • Prepare annual budgeting, and monthly projections, work with top management, and keep an eye on the purchase requisition reconciliation.
  • Create financial strategies, create annual budgets, and comparative evaluations.
  • Work with management to coordinate and evaluate each interim project.
  • Create reports on the company’s income and expenses, work with multiple departments to assemble all the financial information, and then create the final financial reports.
  • Maintain receivables records for grants, create financial and commercial analyses, and carry out the necessary research.
  • Create consolidated forecasts and work with multiple sales and operation teams to create financial predictions.
  • Manage the development, use, and management of online analytical reporting tools and create effective databases and reports.
  • Create various driver-based programs and offer leaders analytical support.
  • Ask them about their financial condition now and their long-term goals through communicating with them.
  • Conduct market research to find possible investment opportunities that fulfill client requirements.
  • Create financial strategies that take into account the objectives and ambitions of the clients while also taking current laws and regulations into consideration, such as by establishing trusts or wills.
  • Manage client accounts on the client’s behalf or offer guidance on a range of topics, including how to pay for a child’s education or how to make investments for long-term growth.
  • Give financial explanations to clients in a language they can easily grasp.
  • Prepare reports that go into depth about how clients have used their insurance or investment plans over time.
  • Make sure there is enough money in the cash flow to handle impending costs like wages or loan obligations.
  • Create projections and budgets for upcoming periods, such as months or years.
  • Ensure accuracy in the evaluation of financial statements.
  • Create financial performance reports for higher management.
  • Make sure that departmental budget analyses reflect the goals and objectives of the firm.
  • Make recommendations for capital purchases based on anticipated return on investment (ROI) calculations.
  • Manage the risk exposure of an organization by detecting possible issues and formulating plans to address them.
  • Audit financial documents including tax returns and bank statements to guarantee compliance with federal requirements.
  • Prepare financial statements such as income statements, balance sheets, and cash flow statements.
  • Suggest modifying the client’s current investment allocations depending on the client’s time horizon, risk tolerance, and other variables.
  • Give clients suggestions on how to manage their debt, improve their investments, and change their spending habits to better their financial status.
  • Conduct financial and commercial investigations to generate analysis, and evaluate all financial outcomes and related reporting.
  • Manage the formal budget process and forecast process in coordination with the financial departments.
  • Manage accounts and guarantee an improvement in profitability by assessing support and keeping an active list of account modifications.
  • Analyze financial data from the past and present.
  • Examine the current state of the economy and note any patterns.
  • Prepare reports based on the facts mentioned above and share the key findings with the entire business.
  • Consult the management group to create long-term business plans.
  • Propose budgets and budget improvements.
  • Investigate various investing possibilities.
  • Make financial forecasts and develop financial models.
  • Create programs and regulations that could enhance economic growth.



  • Bachelor’s degree in business, accounting, finance, economics, or any related discipline.
  • At least 2 years of financial planning and strategizing experience.
  • Ability to analyze large amounts of financial data and comply with regulations.
  • Good understanding of database maintenance and design.
  • Understanding of statistical analysis.
  • Strong attention to detail skills
  • Excellent problem-solving skills.
  • Ability to carry out research and record the reports.
  • Risk management skills.
  • Must be able to track and plan budgets.
  • Spreadsheets, databases, and financial software applications proficiency.
  • Excellent presentation, reporting, and communication skills.
  • Proficiency in financial forecasting and diagnosis.
  • Thorough knowledge of corporate finance, and information analysis.
  • Ms word, Excel, Outlook, and PowerPoint skills.
  • Outstanding leadership skills.


Essential Skills

  • Communication skills: Communication is an essential skill to have in this profession because financial planning analysts frequently interact with clients and other industry experts. To guarantee that customers comprehend their financial condition and the activities they must take to accomplish their financial goals, they must be able to properly communicate complex financial issues and concepts.
  • Data analysis skills: The capacity to evaluate and extrapolate from enormous amounts of data is known as data analysis skills. Data analysis is used by financial planning analysts to produce financial strategies for clients. They make use of information from numerous sources, such as customer revenue and expense data, market trends, and historical data.
  • Problem-solving skills: Financial planning analysts employ problem-solving skills to find solutions to monetary issues. They investigate the issue, examine the information, and come up with answers. For instance, the financial planning analyst may look for strategies to raise a client’s credit score if it is poor.
  • Critical thinking skills: The ability to critically assess a situation and choose the best course of action is known as critical thinking skills. Financial decision-making is done by financial planning analysts applying critical thinking skills. They could have to choose how to pay off debt, select how to save money for retirement, or weigh the advantages and disadvantages of various investments.
  • Organizational skills: Financial planning analysts must be able to arrange their work because they usually work on several projects at once. This entails maintaining a record of client data, financial information, and other information. All these require effective organisational skills.
  • Budgeting skills: The process of estimating and planning for spending and income is known as budgeting. Financial planning analysts must have a working knowledge of departmental budgets. They must be able to examine their spending plans to see if they have enough money to pay bills and if their goals are being met. The ability to develop departmental budgets that are in line with the overall budget of the business is another requirement for financial planning analysts.
  • Forecasting skills: Forecasting is the skill of making future predictions based on present information. Forecasting is used by financial planning analysts to calculate how much cash a business will require in the future to run and expand. Businesses can use this information to inform their strategic resource allocation and financial decisions.
  • Financial reporting skills: The practice of sharing financial information with stakeholders is known as financial reporting. Creating financial statements, such as a balance sheet or income statement, and conveying the outcomes of financial forecasting are examples of financial reporting skills. Financial planning analysts must be able to prepare and present financial data to stakeholders.


How to Become a Financial Planning Analyst

Step 1: Obtain a bachelor’s degree

The first and most crucial step toward becoming a financial planning analyst is commonly earning a bachelor’s degree. Although it’s not compulsory, the majority of working financial planning analysts majored in a field of finance, such as accounting, statistics, or economics. Financial planning analysts often have backgrounds that involve a lot of math, such as engineering and physics. It is advised that you study business, economics, accounting, and math classes in your undergraduate program because these subjects are essential for this profession.

Step 2. Acquire experience

Prospective financial planning analysts are advised to apply for an internship in the position even though it is not compulsory. Aspiring financial planning analysts should gain experience earlier enough by doing an internship in the financial sector and working their way up. This is because some businesses could demand that applicants have a specific number of years of experience in a comparable position. You will be better able to understand the type of work you would expect daily in this role by doing an internship in the finance industry. Additionally, internships offer you the chance to network with current financial planning analysts and perhaps even find a mentor. Some of the associations you make while interning will be beneficial to you later in your career. Additionally, an internship will help you develop your résumé and give you experiences you may use in employment interviews. You can show that you have a keen interest in becoming a financial planning analyst and gain experience by participating in an internship.

Step 3. Apply for jobs

With a bachelor’s degree in a related discipline, you can look for positions such as an entry-level financial analyst, a junior financial planning analyst, etc. These jobs are frequently supervised by an experienced financial planning analyst who will help you learn the ropes of the business. You’ll be doing things like processing financial statements for clients, keeping files organized, reviewing plans and predictions, and analyzing income statements, among other things, in these roles. While junior financial planning analysts may eventually advance, advancement frequently necessitates a master’s degree or certification.

Step 4. Acquire Certifications

Many people with a bachelor’s degree start their careers as employees of accountancy, investment, or financial organizations. Although extra certifications might not be required when a professional first start their job, they may acquire them later on in their career. Certifications give professionals the knowledge they need to do their work more effectively as well as the ability to demonstrate their skills to potential employers. Financial planning analysts who want to broaden their expertise or boost their earning potential can choose from a variety of certifications.

Step 5. Obtain a master’s degree

Financial planning analysts have choices for improving their resumes despite the requirement for on-the-job experience. Many people decide to earn a master’s degree to broaden their knowledge and attract the attention of prospective employers. Although a Master of Science in Accounting degree is an optional step that may assist financial planning analysts to stand out in the job market, many professionals pursue a general master of business administration (MBA).


Where to Work as a Financial Planning Analyst

Financial planning analysts typically find employment in banks, insurance corporations, investment companies, and accounting firms. They may also be employed in government and non-governmental organizations. Financial planning analysts typically work, although they may travel for conferences or to meet with clients. They usually work regular business hours and may work extra time sometimes to meet deadlines.


Financial Planning Analyst Salary Scale

The average salary for a financial planning analyst in the US is $83,660 per year. The salary scale typically ranges from $112,460 to $63,670 per year. The average financial planning analyst salary in the UK is £45,000 per year. The salary scale typically ranges from £37,500 to £57,500 per year.

The average financial planning analyst’s salary in Canada is $80,000 per year. The salary scale typically ranges from $75,000 to $95,124 per year. The average financial planning analyst salary in Nigeria is 5,120,000 NGN per year. The salary scale typically ranges from 2,460,000 NGN to 8,040,000 NGN per year.

Consulting and Strategy

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