How many of you love to play with numbers or have a flair for accounting? For these people finance becomes the obvious career option. Apart from the fact the economy of a country depends on the analysis provide by these finance professionals, a career in finance has many other benefits too. Financial markets all over the world have always been in demand for good finance professionals.
There are many career options in finance apart from the traditional option of accounting. You can take up a career in Corporate Finance, as an analyst and many more. Though this profession is mostly required in the banking industry there are many sectors where finance professionals are in huge demand. So read on and capture some ideas on how to utilize your degree and make a career in finance.
List of Career Options
Financial analysts have been in great demand since the onset of global liberalization. As a financial analyst you will be providing valuable inputs to your customers such as business institutions or individuals on market conditions, speculations, write reports for brokerage. You may also be asked to do technical chart analysis as well as concise evaluation of the market conditions.
In short you become a financial planner for your client. The designations can be that of assistant consultant – business analyst, analyst-back office and many more depending on the requirements of the organization. To become a financial analyst you need to have a professional degree such as an MBA in finance, or other professional courses.
Gone are the days when finance only meant accounting. Corporate finance has appeared to be a new lucrative career option in the recent decades. You will get a number of opportunities where you can utilize your financial skills. A list of career option in this field is discussed below:
As a treasurer you will be handling the treasury department of the company. This will involve job roles such as cash management, acquiring and disposing of assets etc. You need to have sound knowledge about the different departments of treasury.
There will be asset of functions under this job role. You will be asked to analyze capital markets, determine the budget of long term and short term projects, do long-range financial planning, asset valuation, analyze competitors etc. In most of the situations, you will be posted to specific functional areas such as in revenue, capital budgeting, project finance etc. you need to have good in depth knowledge in finance, mathematical skills and computer knowledge for this job.
As a credit manger, you will be asked to establish policies that would aid in granting credit to existing and new suppliers, setting effective guidelines for collecting credit, and making policies that would help in analyzing situations such as in securitizing receivables.
You need to have knowledge of the customers and should be able to analyze different accounting statements such as balance sheet, profit and loss statement etc.
As a cash manager your duties would involve forming relationships with other banks. You will be asked to manage short-term credit needs, ensure that the bank has sufficient cash balance to fulfill its daily needs.
This job is very critical for an organization. You need to have extensive accounting experience. Here the duties are in the form of financial planning and reporting, accounting jobs, doing cost analysis etc. you might be posted in areas such as property, revenue, derivatives and many more.
Sometimes you might be asked to prepare forecasting models in order to project the future revenues and costs. You need to be good in financial reengineering, transfer pricing issues and maintaining an interface with the bank auditors.
Merger and Acquisition Analyst
With the advent of globalization mergers and acquisitions have become a common phenomenon. A lot of financial planning needs to be done before entering into such business ventures. As a Merger and acquisition analyst you will be assigned data crunching jobs for the the raw financial data about the different companies involved. You will be required to work with a host of different disciplines such as law.
As a risk analyst you will be working closely with other senior brokers, line-of-business specialists etc. It is mostly a team based job. In this kind of job role you will be designing innovative programs that would help to create capital value for your customers.
This would help them to manage their different risk exposures which can affect their long-term financial goals. You will be asked to take part in the analysis of different reinsurance programs of your customers. The job may require some amount of travelling as you might be asked to attend client meetings off shore.
Personal Financial Advisors
As a Personal financial advisors you would be required to advise the customers or clients on matters relating with financial plans by using your knowledge of tax and investment strategies, different instruments or securities, insurance and pension plans, and real estate schemes.
Duties would include assessing the clients’ assets, total liabilities, cash flow statements, tax status, and other financial objectives that would help the client in his financial plans. You can function as a Credit Counselor, Financial Adviser, Investment Adviser, Personal Banker and many more.
As a Ratings analyst you would find your acceptance more in the share markets and auditory boards. You would be required to analyze companies and based on your recommendations the client would make their investment strategies.
You must have clear idea on equity or debt instruments such as stocks or bonds. Your recommendations would be helpful in the share market where trading is done. This would help the brokers in buying and selling of shares. Besides, your recommendations would maintain accountability and transparency about the company.
These professionals would help wealthy people to make the right business investments. These people have huge capital and they are often on the look to invest as institutional buyers. You would be managing the portfolio of the such clients.