When looking for the best jobs in financial services there are many to choose from including:
Controller
The controller is responsible for preparation or overseeing the preparation of financial reports. This may include the close examination of future earnings for an employee or for the examination of expenses. Often certain authorities require legal reports to ensure the company is meeting the regulations that it is required to meet. The controller normally is the one that prepares the reports.
Treasurer
The treasurer takes care of the budget to make sure the company is within the budget set for. They may make sure investments are worthy, take care of the cash - managing the deposits, work on plans to raise money for a growing company, and take care of any property acquired.
Cash manager
The cash manager will take care of the cash receipts and the payouts due to keep the company running smoothly. This is necessary for deciding on whether the company should invest its surplus cash or apply for a loan.
Credit manager
Credit managers will take care of all issues concerning credit for a company. This can include the standard for rating credit and collecting overdue payments.
Risk/insurance manager
Risk managers working in the financial services jobs will supervise the programs to reduce risks and deficits from business operations that did not work as intended.
International banking
When majoring in international finance the manager will create systems in accounting and finance to aide the multinational company in its banking business.
The financial organization, which includes credit unions, mortgage companies, banks, and savings and loans sometimes have more than one financial manager. The managers are responsible for the many features that the company is involved with such as loans, trusts, mortgages, investments and programs, which may include electronic services.
The duties of financial managers are many but they may also work in certain areas that are limited to their area of expertise. This may include government finance managers and health care finance managers. The financial manager must know the rules and regulations that govern their area of business.
The financial manager position is changing with the advanced technology we have today. The time required to organize the financial reports is now shortened tremendously. The available data can be perused and recommendations can be made immediately. This is one of the aspects, senior managers are especially interested in because the financial manager can help them tremendously by getting the information to them as quickly as possible. This helps the senior managers know what to recommend for getting the profits up right away. Computer knowledge is extremely important.
One of the best aspects of this job includes the work environment. The offices in which they work are usually very comfortable and the finance managers will have the best computers that money can buy. Although the environment may be comfortable, the financial manager may work up to 60 hours a week. They may have to travel when meetings are held that are important to the business.
Education Requirements
The financial manager will usually have a bachelor’s degree in finance. In addition, there may be a degree in business administration or economics. The employers today are starting to hire graduates that have a master’s degree and this degree should be either, business administration, risk management, finance, or economics. These courses are the most used in the job of financial manager.
There are also certifications available for this job. The CFA Institute, which is the Chartered Financial Analyst group, requires a student with a bachelor’s degree to pass three exams and have the requirements of work experience. A computer based, test is another requirement in order to get the pass. The Association will waive the fees if you are serious about committing yourself to this job.
Earnings Potential
The average wage of the financial manager is $90,970. The mid level salary is between $66,690 and $125,180. The lowest percentage earned approximately $50,290 and the top percentage earned more than $145,600.
The order of pay depending upon the position you hold has the securities contracts at number one. The second is the management of companies. Third is the mess of laying down things wherever you happen to be. This will be termed as the no depository income. Local government is fourth on the list rounding it off with depository credit.
No matter which type of finance management you undertake, the requirements are going to be basically, the same except for a few requirements. Many times the company does not care if you have all the degrees, they will hire you if you can prove you know what you are doing.
