Sample Job Descriptions
Financial, Finance - General
Even considering the 2008 unprecedented collapse of financial sectors, there are still good opportunities for jobs in this industry. There is a range of diverse jobs in this sector, many with significant responsibility (due to the fact money is involved) and offering excellent pay potential, especially at the upper corporate levels.
Some jobs in this industry include bookkeeper, accountant, accounting manager, finance officer, financial analyst, risk insurance manager, cash manager, international banking manager, controller, auditor, payroll clerk, SEC reporting clerk, controller, and many more.
In the example of a controller, individuals in these jobs will typically be in a supervisory position where they are responsible for the production of earnings statements, balance sheets and other general financial reports. A controller is also an analyst in that they must look closely at company spending patterns to determine company waste and get a handle on making general improvements in company thriftiness. They must be farsighted in that they need to look at the projected future income of a company. A controller holds a highly accountable position in that they are responsible for critical reports that are submitted to federal regulatory agencies that monitor and set rules for financial issues of corporations.
In another example of a financial industry job, for the needs of daily cash expenditure control, the position of Cash Manager is a necessary position within an organization. These individuals manage and need to evaluate the cash flow and spending habits of a company and determine the amount of cash to have on hand. They also decide when the need exists for a company to obtain additional credit in order to fulfill its projected financial obligations and possible corporate improvement or expansion projects.
In larger companies engaged in numerous large scale projects involving significant risk, a risk insurance manager is needed. These individuals assess and determine risk as related to investments and other company functions and the insurance needed as related to these projects.
Most jobs in the financial sector require an individual to have a significant amount of knowledge and experience with finance and to have a specific understanding of the particular industry/subsector of interest. For instance, an individual risk manager in the solar cell production industry should have some knowledge of factory processes as related to the production of high tech products. If a person is considering a position as a controller for a governmental entity, they should have experience and knowledge with bureaucratic processes and governmental low bid processes and contracts.
Without question, almost all individuals working in the financial industry should have superior math and essential accounting skills. Long hours of work are normally required in these fields with overtime the norm rather than the exception. Many positions in this financial sector require performing critical tasks and many times dealing with important legal government tax documents. The need for accuracy and attention to detail is critical and cannot be overemphasized. Amiable interpersonal skills are also important as financial sector employees will participate in numerous meetings and work interactively with other corporate departments.
Schooling for these positions in the corporate realm generally requires a minimum of a Bachelor degree in accounting, finance, business, or economics. Master's degrees will be required of corporate level financial managers at the supervisory and higher pay grades.
Some corporate financial positions require the individual becomes a Certified Public Accountant (CPA). This involves substantial study and preparation for a comprehensive test, The Uniform CPA Exam is developed by the American Institute of Certified Public Accountants (AICPA), and administered by the National Association of State Boards of Accountancy (NASBA). Another advanced certification that is administered the CFA Institute, and more specifically designed for professionals in stocks, bonds and derivatives trading is a called a Chartered Financial Analyst (CFA) certification. This a rather difficult series of three extremely comprehensive six-hour tests requiring an initial Bachelor or higher degree and significant work experience prior to being able to take the test. Yet another certification in the financial field is the Certified Management Accountant, or CMA certification. This test is offered through the Institute of Management Accountants and requires the successfully complete a four section test and hold a bachelor's degree.
A good starting point for the eventual run-up the corporate ladder of the financial sector is a position in bank services. You can then progress up through management positions at one of the many local bank branches. This is fertile ground for substantial experience and for obtaining on-the-job training for eventual higher level positions in the corporate environment.
Those wanting to pursue a career in the financial services sector need to be significantly diligent and comfortable slinging numbers around their entire life. The analytical and precise person who poses an acute attention to detail should be the personality type to pursue these careers.
Financial, Finance Industry Job Descriptions - Coming Soon
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