How do you recruit strong financial modelling skills in your team?
Very few 😬 finance professionals have what it takes to build a good financial model, but if you use a few short steps you can find 👀 those diamonds👷 in the rough.
It's like changing someones title to Finance Business Partner and expect them 😁 to suddenly add value and build good models.
It doesn't work 👎that way, never will!
Without the right training and hiring you will just be running on the same tredmill 😵 with the same people with the same skills gap😱.
Being an advanced excel user📈(not that anyone can succintly explain exactly what that means) helps, but its certainly not the only criteria.☝
Forecasting skills doesn't guarantee good modelling skills
Forecasting does not guarantee you will be great at financial modelling. 😱
Just because you can drive a car doesn't mean you can be a Formula 1 race car driver. 🚗
Playing T20 cricket doesn't guarantee you will be a great test cricketer. 😁
The same goes for forecasting and financial modelling. 📊 📈 📉
Do You Model Off against the Masters of Financial Modelling?
Your forecast is only as good as your financial model. Do you agree?
Finance Masters use financial modelling to their advantage by creating forecasts updated in real-time, using internationally recognized modelling standards and might even compete in Model Off. Here's a jointly written post by myself and Anders Liu-Lindberg on what it takes to become a Finance Master in financial modelling. So, do you model off with the masters?