Question
Finance is an exciting field in need of intelligent, skilled people. The job opportunities range from corporate finance; financial planning; investment banking; insurance; and real estate from individuals, institutions, government, and businesses. Finance managers acquire, spend, and manage money and other financial assets.
Use the Internet and / or Strayer Resource Center to research career options within the field of finance. Consider the Bureau of Labor Statistics Website, and the Websites of finance professional associations such as the Association for Financial Professionals (AFP), Society of Financial Service Professionals (SFSP), The National Association for Personal Financial Advisors (NAPFA), and Financial Management Association International (FMA).
Write a two to three (2-3) page paper in which you:
Describe two (2) financial career options that an individual with a finance education might pursue and explain the value that such a position adds to a company.
Explain the essential skills that would make a person successful in each of the described positions.
Recommend one (1) of the career options. Identify the most attractive features of the position.
The specific course learning outcomes associated with this assignment are:
Describe the forms of business organizations and the role of financial managers within an organization.
Use technology and information resources to research issues in finance.
Write clearly and concisely about finance using proper writing mechanics.
Sample paper
Careers in Finance
Question 1
Describe two (2) financial career options that an individual with a finance education might pursue and explain the value that such a position adds to a company.
Finance is one of the marketable fields in the world today, and most individuals are investing in studying finance both at the degree and masters level. Some of the important and attractive professionals in finance include financial analysts and a financial advisor.
- Financial analyst – a financial analyst focuses on researching macroeconomic and microeconomic conditions along with company fundamentals to make business, sector and industry recommendations. After conducting a detailed research, financial analysts have a duty to propose and recommend a course of action depending on the nature of the market the company wants to invest as well as the economic status of the organization. An analyst must be keen to capture the minor and major developments in his or her area of specialization to ensure that they advise their respective companies accordingly. Moreover, these specialists should have complete knowledge and skills of how to prepare financial models to predict future economic conditions for any number of variables.
- Financial advisor – financial advising is one of the pillars in and company and the financial advisor are important to the company. A financial advisor provides financial advice and guidance to consumers for a small compensation. Financial advisers always provide a variety of services such as investment management, income tax preparation and estate planning(Brigham, 2012). However, for one to operate as a financial advisor, they must obtain a license for their services.
Question 2
For one to become a good financial analyst, he or she has to have good skills in:
- He or she needs to understand the concept of materiality fully – a good financial analyst should be in a position to make a conclusion with incomplete information and data to help the company or an investor excel in a difficult economic situation.
- Are good using spreadsheet and databases to analyze information- any financial analyst should have the necessary skills to apply the tools available in spreadsheet and database to pull together disparate data, solve problems and present information to the management.
- Understand management accounting concept and apply them in business – good financial analyst should have management accounting concepts at their fingertips to help them to perform important tasks for the organization such as creating and making departmental budgets.
Necessary skills in financial advising
- Active listening – a good financial advisor must possess good listening skills to engage their customers to know their real problems to be in a position to advise the accordingly. Moreover, h or she is a good communicator who can express their ideas and concepts to the customers appropriately to ensure that they drive their ideas and message home(Lasher, 2013).
- Must possess good decision-making skills – given the fact that these financial advisors have the decision to make, to choose the right alternative among the many alternatives at their disposal concerning solutions to the customers’ financial problems, they need to be stable while making a decision. As a result, he must be a good judge and a good listener who can make the right decision.
Question 3
Financial manager
The financial manager is one of the most prestigious positions that a person can ever occupy in a company or an organization. The most attractive feature of this position is that a financial manager is always challenged to ensure there is a going concern of the company by ensuring that the company does not go without finances.
References
Brigham, E. F. (2012). Fundamentals of financial management. Cengage Learning.
Lasher, W. R. (2013). Practical financial management. . Nelson Education.
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