Careers in Finance

Careers in Finance

CAREERS IN FINANCE 5

Finance Careers

There are various exciting careers in the field of finance and keepsgrowing depending on dynamic changes in the career and jobrequirements. Individuals seeking to have exciting careers in financemust have a solid basis in finance education. Examples of finacecareer that an individual with finance education background canpursue include

Finance Controllers

Finance controllers play an essential role in the financial planningof organizations especially in budget and debt management. Financecontrollers are also referred to as ‘comptroller’ for theirleading accounting function in organization. Finance controllers areresponsible for setting financial rules, including the selection ofaccounting methods and applicable accounting principles that are tobe followed. In short, finance controllers’ serves as internalcontrollers who execute controls over a firm’s accounting andfinancial procedures. Major internal controls include reviewing andapproving all invoices paid and reviewing accounts payable reports(National Association for Personal Financial Advisors (NAPFA).

Finance controllers work in corporations, banks and governmentinstitutions. A finance controller requires education in Masters ofBusiness Administration (MBA) with a concentration in accounting orfinance (Association for Financial Professionals (AFP). In addition,a finance controller must be a Certified Public Accountant (CPA). Itis also imperative that a finace controller has requisite experiencespanning over 10 years of experience. A special type of financecontroller is the hedge fund controller that requires candidates havevast experience in credit and debt exposure.

Tax Managers

Tax managers are tasked with the responsibility of overseeingcorporate tax planning and reporting. The main role of tax managersis to make sure that tax returns are completed and accurate to reducetax obligations for firms. In general tax managers analyze allgeneral ledgers and other related financial documents to ensure thattax accounting principles are performed as required. Tax manages mustensure that firms adhere to local, federal and international taxlaws. Tax managers must serves as members of the management incoordinating, facilitating and resolving tax requirements and audits.Tax managers’ keeps updated records and information on organizationtax regulations of a firm.

Tax managers should have deep education in tax management in CPA andMBA with great concentration on taxation and accounting (Associationfor Financial Professionals (AFP). It is recommended that taxmanagers in order for the tax managers to carry out their taskseffectively, they must have a solid basis of bachelor degree inaccounting and at least seven years of experience. Experience andacademic background is vital in helping the managers make objectivejudgment, plan and accomplish tax requirements within a firm.

Recommended Career Option

Valuation Analysts

Business valuation analysts determine and assess the value of anenterprise, firm or ownership interests before selling or buying.Notably, valuation analysts conduct value analysis of all assets andeffects of an enterprise in order to have a summative amount that anenterprise is worth (Association for Financial Professionals (AFP). Agood understanding of taxes, accounting, finance and basicunderstanding on valuation fundamentals is required.

Valuation analysts are required in businesses for various reasonsespecially during mergers and acquisitions. The expertise ofvaluation analysts comes handy especially when assessing estatetaxes, employees stock ownership plans, partner breakups and damagecompensation claims. The field of valuation analyst is evolving inthe modern field and demand for valuation analysts is growing.Valuation analysts require being Certified Public Accountants beforethey are allowed to practice valuation analysts’ roles. Qualifiedvaluation analysts should have strong background in mathematics(National Association for Personal Financial Advisors (NAPFA).

References

Association for Financial Professionals (AFP). 2015.www.afponline.org/

The National Association for Personal Financial Advisors (NAPFA).2015. https://www.napfa.org/