If you’re interested in a career in the Accountancy and Finance industry in Trinidad and Tobago, you’re on solid ground with regards to opportunity! It is an industry that provides services to businesses to help them manage their money. Duties include offering financial advice to help companies increase their value, keeping track of accounts and reducing a firm’s tax liability. It is an industry with a lot of scope so let’s dig a little deeper.
POSITIONS RELATED TO THE INDUSTRY
The sector has an immense number of different roles you can specialize in, but if you work for a smaller company, you’ll be expected to work in several areas instead of focusing on one. Here are just a few roles available within the industry:
•Accountant: It is a mistake to view accountancy as a single entity. Sure, the job may include preparing accounts and tax returns or providing tax planning, but these duties are just the tip of the iceberg. You could become a Tax Accountant, External Auditor, Internal Auditor, Funds Manager, Risk Manager, Business Analyst and much more.
•Financial Planner : In this role, you could work with individuals and families to help them set and achieve their personal financial goals.
•Regulator: If you go down this path, you’ll work with accountants and financiers to ensure the professional bodies that regulate them are performing the roles properly. It is an extremely important position because not only are you protecting your fellow professionals; you are also helping customers.
•Investment Manager: You will manage the assets and credit of individuals and organizations. You also handle the pensions of your clients.
•Treasury Professional: You will manage the firm’s money and analyze its risk. You will develop a long-term strategy to add value to the business.
CV TIPS
The Accountancy and Finance industry in Trinidad and Tobago is a competitive one, so you need to follow these tips to help you stand out.
UNDERSTAND IN-DEMAND SKILLS
Although the job description should give you a good idea of what’s required, you’ll need to dig deeper to find out any industry specific skills to give you an edge. Here are a few examples:
• Anti-bribery and corruption (ABC), AML and sanctions.
• Cyber security expertise with excellent analytic skills.
• An understanding of the Dodd-Frank Act.
• Commercial awareness.
• Communication, teamwork, and organization.
USE INDUSTRY STANDARD TERMS
If you have been in the same job at a firm of years, don’t use whatever special title you had on your CV. Instead, stick to terms recognized within the industry. It’s key to know how to write a good resume in Trinidad for example, don’t say you are a ‘wholesale banker,’ write down that you’re an investment banker. It is also important to take an ax to any excess jargon on your application.
DON’T NEGLECT SOFT SKILLS
Never undervalue your capacity for managing clients and staff or your commercial experience. While employers obviously want candidates capable of fitting in with their systems, they also need people with the ability to adapt to the inevitable changes that come in any industry.
SHOW TANGIBLE ACHIEVEMENTS
If you’re already in the accountancy and finance industry, you’ll know that your fellow professionals constantly use figures. As a result, you have to follow suit and use numbers to outline past successes. Examples include the size of the team you managed, company turnover or percentages (profit, savings, etc.) Also, be crystal clear when it comes to your scores in exams.
INTERVIEW TIPS
You should be able to find an inordinate amount of material online that provides you with a list of questions you’re likely to be asked. Once you have this information, your main concern should be practicing your answers and refining your technique. Here are a few tips.
LEARN THE INTERVIEW FORMAT
If you aren’t aware of the format, all your preparations could go out of the window. For example, a company looking for a candidate with leadership potential could opt for a multi-candidate interview. What will you do if you’ve only prepared answers to a one-on-one interview?
EFFECTIVE ANSWERS
You should know your CV inside out and be prepared not only to back up the data on it but also to expand upon it. Use facts and figures when possible and remember, hiring managers are only interested in people with a genuine interest in the industry.
DIVIDE PROBABLE QUESTIONS INTO SECTIONS
In most cases, you’ll be asked questions in the following sections:
• Knowledge Requirements: Provide examples of occasions where you demonstrated the required competency.
• Planning & Organizing: How you keep track of things that require your attention.
• Information & Task Monitoring: How you monitor team performance for example.
• Analysis & Assessment of Problems: How you overcame a difficult financial analysis problem in a previous role.
• Judgment/Decision Making: How do you react when someone else’s errors are having a negative impact on your performance?
You may also be asked about motivation, interpersonal communication and your attention to detail and accuracy. It is better to focus on these sections rather than on individual questions because you’ll be able to answer almost anything an interview throws at you. This is the reason why you should have in mind the top job interview questions in trinidad.
GROWTH OPPORTUNITIES – SHORT, MEDIUM & LONG TERM
You don’t necessarily need a college degree to get into the Accountancy and Finance industry in Trinidad and Tobago. You can start when you leave high school if you wish but it will take far longer to reach the top. A degree in a related field such as Accountancy, Business Studies, Financial Management, etc. will go a long way towards helping you get to the summit.
In the short term, you will probably remain in your current role for several years, but it is important to gain this experience for future promotion opportunities. To further career opportunities in Trinidad, look for a professional qualification. As an accountant, for example, it is best to try and earn the Institute of Chartered Accountants of Trinidad and Tobago designation.
In the mid to long-term, you could reach middle management before finally taking charge of a team. This could mean you become the head accountant for a firm or else you could reach the lofty status of financial director.
