Good management qualities

Many typical project management skills are readily transferable to the financial and investment sector. You will need to be an excellent communicator, with the ability to be clear, direct and open. You need to not only be able to communicate effectively with your team but also be able to liaise effectively with clients and your superiors. You will need to be able to negotiate and be diplomatic, and at times be strongly persuasive.

Enthusiasm is another vital factor. A can-do attitude of optimism and confidence will inspire your team to do the best they can. Being seen as trustworthy is perhaps the most important quality in the investment and finances market, and as a project manager, you should set an example to your team and project a calm, resolute image to the outside world.

Problem-solving

A financial project manager needs to be able to take the long view while also paying attention to the smallest detail. You’ll need to be an efficient organiser, capable of analytical thinking, juggling several problems at once without getting flustered and meticulous at project management planning. Foresight when it comes to the markets and their moods is essential, but so is being able to ride out the consequences of your inevitable occasional misjudgements.

Building a portfolio

 Along with his brother Taha, Najib Mikati started out in property and construction in the 1980s. Foresight saw them establish their flagship telecommunications company Investcom, and by the time they floated it on the stock exchange in 2005, it had a market capitalisation of $3.3bn, making it one of the largest companies in the Middle East. In 2007, the brothers formed M1 Group, a diversified investment holdings group comprised of eight companies covering real estate, commercial aircraft, travel, energy, fashion and consumer goods. Here is Najib Mikati interviewed when he applied his project management skills to the task of being Lebanese Prime Minister from 2011 to 2013. Correctly managing different investment portfolios was absolutely crucial to Mikati’s business success, which has made him one of the world’s richest men.

A project manager in the finance and investment sector is more than just an administrator. You need to be a visionary who can inspire others to share your vision, and you need to be able to think on several levels at once, analysing the big picture while being aware of all the small details. A financial project manager must stay on top of the game at all times.

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Crises come in all shapes and sizes. This could range from a natural occurrence, such as a flood, fire or earthquake, through to human problems, including a theft, bad investment or social media disaster.

The management need to have the necessary skills to keep the team motivated so that they can continue working for the good of the business.

One leader who has shown how to successfully handle a crisis is Max Mosley. He was in charge of the FIA through a number of serious issues, including Ayrton Senna’s death. He is still seen as a point of authority within Formula One, including during the recent incident involving driver Jules Bianchi. When Mr. Mosley discusses Jules Bianchi’s accident, he takes on board the seriousness of the situation, but confidently handles the media and shows how and why certain actions were taken.

Here are some tips on effective crisis management:

Be prepared

Having a plan in place can allow you to respond quicker and more successfully to a crisis. All businesses should put together a crisis communications plan, which will include who to put forward to speak about an issue and what they should be saying.

Have a response

If your business is facing a crisis, then you need to speak publicly about it as soon as possible. The rise of the internet and social media means that a minor issue can quickly become a crisis if you’re not careful. If you don’t say anything, then people will find out information from somewhere else, so it’s always best to be honest and transparent.

Be media trained

A good manager needs to be an effective spokesperson. You should be confident in dealing with the media and deliver a consistent message throughout the crisis. Effective training will enable you to understand the business better and answer questions confidently and succinctly.

Be positive

Employees will quickly pick up on any negativity, so it’s important to maintain a positive persona throughout the crisis. If you keep strong and have a positive attitude, then it’s more likely to keep your employees moving and focussed on the business.

Be accountable

As a manager, you need to take charge of the situation straight away and stand up for the business. Even if a scandal hits, you can still have a positive outcome if you take responsibility for any actions and try to put a handle on the situation.

By working through these processes and remaining calm and confident throughout, you can lead your company through anything that may hit. A good manager will steer his or her team and ensure everyone comes out the other side.

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