Find out the top 10 core skills you need to master as a registered account administrator and what hard skills you need to know to succeed in this job.
A Registered Account Administrator is liable for managing a company's investments, endowments and investors. This post is useful for various companies like banks, mutual fund companies, and hedge fund firms.
The duties of this position are processing different types of financial trades, interacting with the management and fund custodians to resolve discrepancies on various projects, overseeing the electronic confirmations and portfolio modelling, reconciling the holdings in a fund with its custodian or with the fund's accounting records, compiling reports for executives, clients and portfolio managers, checking the performance of funds, creating monthly reports and handling large block trades, funding custodians to resolve discrepancies on various projects.
Core Skills Required to be a Registered Account Administrator
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 registered account administrator should master the following 10 core skills to fulfill her job properly.
Problem Solving is the skill of defining a problem to determine its cause, identify it, prioritize and select alternative solutions to implement in solving the problems and reviving relationships.
A Registered Account Administrator has a fundamental role in finding ways to address all types of problems through having a good method to use when approaching a problem without being ineffective, favoring or causing painful consequences.
Knowledge of Job:
Knowledge of Job is essential to every employee who needs to have a clear understanding of how their jobs fit into the overall organization to eliminate carelessness and laxity.
A Registered Account Administrator must be able to evaluate this criterion when selecting an employee and know the common descriptions of a person with either right or inadequate knowledge of the job early enough to either keep them or let them go.
Supervisory Skills is the ability to lead and manage people effectively in a difficult and challenging atmosphere in the day to day life.
A Registered Account Administrator must cultivate, develop and refine management and supervisory skills to strengthen the present as well as build the future of the business by becoming competent in such roles like problem-solving, communication, managing people, time management, leadership, planning, etc.
Realistic Goal Setting:
Realistic Goal Setting is the skill to hone in the specific actions that we need to perform to accomplish everything we aspire to live.
A Registered Account Administrator should invest his time in planning and set both short and long-term goals that stretch and initiates the growth in every employee causing each to perform at his level best bringing in real benefit to their life and the business as well.
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 Registered Account Administrator 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.
Business Ethics is the ability to learn what is right and wrong in the world of business and choosing to do what is right at all times.
A Registered Account Administrator must emulate good business ethic that is essential for the long-term success of an organization by implementing an ethical program that will foster a thriving entrepreneurial culture while increasing profitability and personal maturity.
Meeting Management is the skill to know and understands the reason why an official meeting should be held and who should attend.
A Registered Account Administrator must learn how to properly organize and conduct meetings to contribute to organizational effectiveness by determining situations that require a meeting, understanding types of meetings, planning the meeting, running the meeting to the close and managing people after the meeting.
Technology Savvy is the introduction of the digital technology in the workplace as a strategy to make tasks run swiftly against doing them manually.
A Registered Account Administrator must ensure that the technology he introduces to the workplace integrated seamlessly with the workflow and empowers the users rather than complicates and damages the workflow making sure the employees are well prepared and not overwhelmed with the technology.
Writing Reports and Proposals:
Writing Reports and Proposals is the ability to record business reports and plans for the company or project following the policies and procedures of the company.
A Registered Account Administrator should, therefore, emphasize the need and accuracy of these reports and plans to ensure they are delivered promptly, and the details within are accurate adhering to the company's policies and regulations without compromise.
Data Entry is a skill to key in information from various sources as directed by the management while keeping to the policies and procedures of the company and ensuring they are accurate.
A Registered Account Administrator should prioritize hard skills over educational backgrounds when it comes to data entry because experience and familiarity with the common workplace software, attention to detail, confidentiality and databases is critical.
Hard Skills Required to be a Registered Account Administrator
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 registered account administrator should have a good command of the following hard skills to succeed in her job.