Finance Career Opportunities

 

 

A finance career is usually opted by individuals who possess strong analytical, quantitative, communication and IT skills. Most companies seek graduates who have the following skill set:[br]

• Strong work ethics
• Excellent written and verbal communication skills
• Ability to work in a team

 

As the finance function is a necessity in every industry, countless finance career opportunities come up from time to time. There are two basic career paths in finance:

• Managerial finance: In this career path, one would be managing the finance function for businesses in the manufacturing and trade industries.
• Financial services: If you choose a career in the financial services industry, you would be involved in the creation and sale of financial products or services, such as securities, bonds and insurance.

 

Finance Career Opportunities: Options in Managerial Finance

 

A career in managerial finance can lead to the highest positions in a company. Careers in managerial finance have become more intellectually challenging than before as a result of rapid globalization.

 

Financial Analyst: Individuals in this position require to work closely with the accounting department. They are involved in the:

• Preparation and analyses of the firm’s financial plans and budgets
• Financial forecasting and assisting in the preparation of proforma statements
• Analysis of other aspects of the firm, such as liquidity, short-term borrowing, fixed assets and capital structure

 

Credit Manager: A credit manager administers the firm’s credit policy by analyzing or managing the evaluation of credit applications and the collection of accounts receivables. He would also:

• Analyze the financial condition of applicants, check their credit history and determine the appropriate terms and amount of credit to offer.
• Supervise the collection of current and past due accounts receivables.[br]

 

Cash Manager: As a cash manager, you would be responsible for maintaining and controlling the daily cash balances of your firm. If your firm is large, you may need to:

• Manage foreign currency risks
• Coordinate national or international banking relationships
• Manage cash transfers and lockbox arrangements
• Invest surplus funds in short-term marketable securities
• Arrange necessary short-term financing through sources such as trade credit, bank notes and accounts receivable, in case of a deficit

 

A cash manager must have an in-depth understanding of the business and cash cycles of the firm to be able to project the firm’s daily cash surplus or deficit.

 

Capital Budgeting Analyst: In this position, your responsibilities could include:

• Evaluation of a proposed project by compiling relevant data
• Selection of proposed projects
• Projecting cash flows of the proposed projects
• Allocation of funds for these projects
• Overseeing the financial aspects of the implementation of projects