Find out the top 10 core skills you need to master as a forensic accounting manager and what hard skills you need to know to succeed in this job.
A Forensic Accounting Manager reviews financial documents to identify any inaccuracies while analyzing financial data and tracing all the records to avoid any discrepancies and forecast preventable financial frauds. To be successful in this role, you must combine investigative skills with accounting procedures so that you can easily organize economic evidence into small detailed reports.
More responsibilities include performing regular financial record audits to ensure they comply wit the law, reviewing financial documents to identify inaccuracies, investigating complex business cases to minimize any risks, reporting on revenue losses and damages from contract breaches, forecasting and preventing financial frauds, ensuring all the accounting procedures follow legislation.
Core Skills Required to be a Forensic Accounting Manager
Core skills describe a set of non-technical abilities, knowledge, and understanding that form the basis for successful participation in the workplace. Core skills enable employees to efficiently and professionally navigate the world of work and interact with others, as well as adapt and think critically to solve problems.
Core skills are often tagged onto job descriptions to find or attract employees with specific essential core values that enable the company to remain competitive, build relationships, and improve productivity.
A forensic accounting manager should master the following 10 core skills to fulfill her job properly.
Presentation Skills:
Presentation Skills are useful in getting your message or opinion out there in many aspects of life and work, though they are mostly used in businesses, sales, teaching, lecturing, and training.
A Forensic Accounting Manager must develop the confidence and capability to offer excellent presentations and captivate the audience when the need arises; it requires a lot of preparation to stand out from the crowd, and a manager should be willing to invest in it.
Motivating others:
Motivating is using persuasion, incentives and mental or physical stimulants to influence the way people think or behave individually or in groups.
A Forensic Accounting Manager ought to learn how to tap into the employee's enthusiasm as well as motivate the staff not just with money but with a motivation that comes through the daily relationship with each employee and creating an environment that fosters employee engagement and motivation.
Management Skills:
Management Skills are also known as leadership skills and involve planning, decision making, delegation, time management and time management to ensure optimum organization in focus and the technical of how and why of accomplishing tasks.
A Forensic Accounting Manager must understand the business organization, finance, and communication as well as the market and the relevant technologies used to help manage everyone as they work together in a group.
Personal Growth:
Personal Growth is the improvement of one's awareness, identity, developing talents and potential to facilitate the growth of oneself and the position they handle at the workplace.
A Forensic Accounting Manager ought to assist his employees in finding themselves by introducing or referring them to methods, programs, tools, techniques and assessment systems that support their development at the individual level in the organization.
Personal Relationships:
Personal Relationships is the relationship between individuals who have or have had a continuing relationship of any nature either professional or informal.
A Forensic Accounting Manager reserves the right to take prompt action if an actual or potential conflict of interest arises concerning individuals who engage in a personal relationship that may affect terms and conditions of employment and he should not also date a subordinate.
Project and Goal Focus:
Project and Goal Focus is setting your mind and heart on things that matter and add value to your life against those things that add no value at all or of little value.
A Forensic Accounting Manager ought to learn of early hiccups that may cause distraction and get to motivate the employees early enough to see the projects completed promptly and in good condition.
Financial Management:
Financial Management is the skill of learning how to handle accounting, finance, and organizational management through providing daily data on the operations that take place every day.
A Forensic Accounting Manager ought to be highly effective in planning and organization, controlling and management of the financial resources to achieve the company's organizational objectives that are laid down to see the growth of the enterprise.
Time Management:
Time Management is the capacity for an individual to assign specific time slots to activities as per their importance and urgency to make the best possible use of time.
A Forensic Accounting Manager must schedule each task within a stipulated period for each employee and ensure all the tasks are completed promptly thus actually teaching the staff the value of time and how to utilize it for the interest of the business and their growth.
Knowledge Management:
Knowledge Management is the ability to manage knowledge and information that is presented to the company from different sources without overlooking any of them.
A Forensic Accounting Manager ought to creatively channel all the new information, tools, input, and methodology mean by actively practicing the art of knowledge management within the business by harnessing the organization's inherent wisdom's platform in one place.
Mechanical Skills:
Mechanical Skills are the abilities to solve problems that arise in the workplace, although it may vary from one company to another.
A Forensic Accounting Manager must be well equipped with technical skills to handle any underlying mechanical problem that may arise from wrong scheduling to meeting unique customer needs, budget, legal constraints, environmental and social issues, technology changes and any other management requirements.
Hard Skills Required to be a Forensic Accounting Manager
Hard skills are job-specific skill sets, or expertise, that are teachable and whose presence can be tested through exams. While core skills are more difficult to quantify and less tangible, hard skills are quantifiable and more defined.
Hard skills are usually listed on an applicant's resume to help recruiters know the applicant's qualifications for the applied position. A recruiter, therefore, needs to review the applicant's resume and education to find out if he/she has the knowledge necessary to get the job done.
A forensic accounting manager should have a good command of the following hard skills to succeed in her job.