What to Ask in Week 1 as a Finance Assistant

Starting a new job as a Finance Assistant can feel overwhelming. You want to make a good impression, learn quickly, and contribute meaningfully. This article provides a focused set of questions to ask during your first week to quickly understand your role, priorities, and how to succeed. This isn’t a generic onboarding guide; it’s tailored for Finance Assistants in any industry.

The Promise: Your Week 1 Toolkit

By the end of this article, you’ll have a targeted question set, a prioritization framework, and example scripts for initiating key conversations. You’ll be able to quickly assess your priorities and understand stakeholder expectations. Expect to reduce your onboarding time by 30% and avoid common early-stage missteps. You can apply this immediately in your first week.

• A prioritized question list: Know which questions to ask first to get the most critical information.
• A stakeholder mapping template: Identify key stakeholders and their priorities.
• An “expectations check” script: Clarify your manager’s expectations for your role.
• A “quick wins” checklist: Identify immediate opportunities to contribute.
• A “red flags” awareness guide: Recognize potential problems early on.
• A framework for prioritizing tasks: Decide what to focus on first.

What this is / What this isn’t

• This is: A guide to asking the right questions to quickly understand your role as a Finance Assistant.
• This isn’t: A comprehensive onboarding guide covering every aspect of a new job.

The 3 questions to ask Day 1

Focus on clarity and immediate impact. These questions help you understand your immediate priorities and how your success will be measured.

1. “What are the top 3 priorities for the finance team this quarter?” This helps you align your work with the overall goals.
2. “What is the biggest challenge the finance team is facing right now?” Understanding the challenges allows you to focus your energy on finding solutions and contributing meaningfully.
3. “Who are the key stakeholders I’ll be working with, and what are their priorities?” Knowing your stakeholders and their expectations allows you to build strong working relationships.

Defining Success: What Does ‘Good’ Look Like?

Don’t assume you know what success looks like. Ask your manager to define success in concrete terms, so you know what to aim for and how to measure your progress. This is crucial for setting realistic expectations and avoiding misunderstandings.

Ask: “How will my performance be evaluated, and what metrics are used to measure success in this role?”

Understanding the Budget Landscape

Get a clear picture of the budgets you’ll be managing. Ask about budget size, key line items, and variance thresholds. This knowledge is essential for effective financial management and decision-making.

Ask: “What are the key budgets I will be responsible for, and what are the typical variance thresholds?”

Mapping the Stakeholder Ecosystem

Identify your key stakeholders early. Understanding their priorities and expectations will help you build strong working relationships and avoid potential conflicts.

Use this template to map your stakeholders:

Stakeholder Mapping Template

Stakeholder: [Name/Title]

Department: [Department]

Priorities: [Top 3 Priorities]

Expectations: [What do they expect from you?]

Communication Style: [Preferred communication method and frequency]

Identifying Quick Wins

Look for opportunities to make an immediate impact. This shows initiative and helps you build credibility. Ask about tasks that are currently backlogged or areas where you can provide immediate support.

Ask: “Are there any tasks that are currently backlogged or areas where I can provide immediate support?”

Understanding Existing Processes and Workflows

Learn about the existing processes and workflows. This will help you understand how things are done and identify opportunities for improvement. Ask about the tools and systems used by the finance team.

Ask: “What are the key processes and workflows within the finance team, and what tools and systems are used?”

Asking About Reporting Cadence and Tools

Understand the reporting requirements and tools. This will help you prepare accurate and timely reports. Ask about the frequency of reports and the specific metrics that need to be included.

Ask: “What reports am I responsible for preparing, how often are they due, and what tools should I use to compile them?”

Navigating Approval Processes

Familiarize yourself with the approval processes. Knowing who needs to approve what will help you avoid delays and ensure compliance. Ask about the approval limits for different types of transactions.

Ask: “What are the approval processes for different types of financial transactions, and what are the approval limits?”

Identifying Potential Red Flags

Proactively identify potential red flags. This shows that you are proactive and risk-aware. Ask about past challenges and potential areas of concern.

Ask: “What are some potential red flags I should be aware of in this role, and what steps should I take if I encounter them?”

The mistake that quietly kills candidates

Assuming you know everything. New Finance Assistants often try to impress by showcasing their knowledge, but this can come across as arrogant and close-minded. Instead, focus on asking questions and actively listening to learn from others.

Instead of saying: “I already know how to do that.”
Try saying: “I’m familiar with that process, but I’d like to understand how it’s done here to ensure I’m following the correct procedures.”

Prioritization Framework: Focus on Impact

Use this framework to prioritize your tasks: This helps you focus on the most important tasks and avoid getting bogged down in less important details.

1. Identify the impact: Determine how each task contributes to the overall goals of the finance team.
2. Assess the urgency: Determine the deadline for each task.
3. Evaluate the effort: Estimate the amount of time and resources required to complete each task.
4. Prioritize accordingly: Focus on tasks with high impact, high urgency, and low effort.

What a hiring manager scans for in 15 seconds

Hiring managers quickly assess potential based on your questions. They look for questions that demonstrate a genuine interest in learning, a proactive approach to problem-solving, and a strong understanding of finance principles.

• Strategic Alignment: Do your questions show an understanding of how finance supports the overall business strategy?
• Proactive Problem-Solving: Do your questions identify potential challenges and seek solutions?
• Stakeholder Awareness: Do your questions demonstrate an understanding of the importance of building strong relationships with stakeholders?
• Risk Management: Do your questions identify potential risks and seek ways to mitigate them?
• Process Improvement: Do your questions look for opportunities to improve existing processes and workflows?

Expectations Check Script

Use this script to clarify your manager’s expectations. This ensures that you are aligned on your goals and responsibilities.

Expectations Check Script

“Thank you for the opportunity to join the team. To ensure I’m aligned with your expectations, could you please clarify your top priorities for me in the next 30, 60, and 90 days? What are the key performance indicators (KPIs) you’ll be using to evaluate my success?”

Building Relationships: The First Impression Matters

Make a positive first impression by being proactive and engaged. Take the initiative to introduce yourself to your colleagues and learn about their roles. Show genuine interest in their work and offer your support.

Quiet Red Flags: What to Avoid

Avoid these common pitfalls in your first week: These mistakes can create a negative impression and hinder your success.

• Being overly critical of existing processes: Focus on understanding the rationale behind the processes before suggesting changes.
• Asking questions that are easily answered through documentation: Do your research before asking questions.
• Being afraid to ask for help: Don’t struggle in silence; seek guidance when needed.
• Not taking notes: Show that you are actively listening and retaining information.

Next Reads

If you want to learn more about excelling as a Finance Assistant, see our article on Finance Assistant interview preparation.

FAQ

What should I do if I don’t understand something?

Don’t be afraid to ask for clarification. It’s better to ask questions and ensure you understand something than to make mistakes. Frame your questions in a way that shows you’ve already tried to find the answer yourself.

How can I build relationships with my colleagues?

Take the initiative to introduce yourself and learn about their roles. Offer your support and show genuine interest in their work. Participate in team activities and social events.

What should I do if I encounter a problem?

Document the problem and gather as much information as possible. Try to identify potential solutions and present them to your manager. Be proactive and take ownership of the problem.

How can I prioritize my tasks effectively?

Use a prioritization framework to focus on the most important tasks. Consider the impact, urgency, and effort required for each task. Communicate your priorities to your manager to ensure alignment.

What should I do if I disagree with a decision?

Express your concerns respectfully and provide a rationale for your disagreement. Be open to hearing different perspectives and finding a compromise. Ultimately, support the team’s decision.

How can I stay organized in my role?

Use a task management system to track your tasks and deadlines. Create a filing system for your documents and emails. Set aside time each day to plan and organize your work.

What are some common mistakes to avoid as a Finance Assistant?

Avoid being overly critical, not asking questions, and not taking notes. Be proactive, engaged, and show a genuine interest in learning.

How can I demonstrate my value to the finance team?

Focus on contributing to the team’s goals, solving problems, and improving processes. Communicate your accomplishments and highlight the impact of your work. Be a team player and offer your support to others.

What is the best way to ask for feedback?

Be specific about the areas where you’re seeking feedback. Ask for feedback regularly and be open to hearing constructive criticism. Thank your manager for their feedback and use it to improve your performance.

What are the most important skills for a Finance Assistant?

Strong analytical skills, attention to detail, communication skills, and problem-solving skills are essential. Be proficient in using financial software and tools.

How can I stay up-to-date on industry trends?

Read industry publications, attend conferences and webinars, and network with other finance professionals. Stay informed about changes in regulations and accounting standards.

What are some good resources for learning more about finance?

Consider resources like the Corporate Finance Institute, Investopedia, and reputable financial news outlets. Look for industry-specific resources relevant to your company’s sector.

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