Finance Today

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Today's Finance Directors are the pivotal executives for dynamic companies. They work more closely with CEOs than any other Board member and their responsibilities extend far beyond traditional financial management. Finance Directors make full use of new business tools and technologies and have responsibility for a wide range of high value purchasing decisions, from IT systems and software to relocation and outsourcing.
To carry out their role effectively, it is vital that Finance Directors have available to them accurate and up-to date information from leading commentators and business leaders. As the most influential and informative review for Finance Directors and senior Accountants in business, FINANCE TODAY is highly regarded for its in-depth analysis and searching editorial perspective on a broad range of subjects of critical importance to sound business management.

Finance Careers


  1. Financial Analys - Financial analysts work in corporate finance, and some of their job duties include acquisition and asset sales analysis, financial plan implementation and overall cash management.
  2. Financial Planner - With a solid understanding of estate planning, investments and taxes, financial planners help their clients to achieve their financial goals, such as saving for retirement and college.
  3. Claims Adjuster - According to Careers in Finance, adjusters negotiate insurance claims with people have experienced a loss. The adjuster is responsible for reaching a claim settlement that is fair to all parties. 
  4. Mutual Fund Analyst - Mutual fund analysts determine safety and risk for investments made for pensions, retirement and other mutual funds.
  5. Real Estate Appraisal - Real estate appraisers typically work for banks and their main responsibility is to determine unbiased property values so that banks can make an informed lending decision.


(http://www.ehow.com/facts_5038049_type-jobs-available-finance-degree.html)

Jim Howard - COO Desert Community Bank, Las Vegas, NV

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Marketplace
What are your projections for this type of work or industry?  Is it stable, growing, declining?
James told me that the financial industry is in hard times right now.  It will never be the same in the future as it was in the past.  Right now there are so many new Government regulations which restrict what financial institutions can do that it makes it almost impossible for new companies to get start-up money.  The Government is literally stomping out new businesses.
What are the key trends or issues?  New developments?  Key challenges?
Right now pretty much everything is stopped in its tracks.  There are not any new trends or developments and most banks that are still around right now are not making any money and have not made any money for the past two years or so.  Rather that even trying to revolutionize things, people are just striving for survival.  
What and where are the opportunities?
There are currently no opportunities in the industry.  Many financial institutions have gone under in the last couple of years and this has caused people to be forced to look elsewhere for work.  The people that do still have jobs in the industry are holding on to them for dear life and there are no foreseen changes in the near future.
What are typical salaries in this type of job?  What are the opportunities for career growth?
For someone who is coming straight out of college and going into the financial industry, they can expect to have a starting salary of about $60,000 per year.  Unfortunately there are not any opportunities like that right now and for people in the field already there are not any opportunities for growth.


Entry into Position
When and how did you get involved in this type of work?
He got involved in this business back when times were much better.  He was working for Wells Fargo at the time he got together with a group of people to collect funds so they they each could start their own banks.  They raised about $20 million all together and then they each went off and started their own ventures.
What was your training and background?  Is this typical for people in your position?
He earned an MBA from the University of Wisconsin and later went to a school of banking operations.  He spent 25 years working with First Interstate/Wells Fargo banks and then went off on his own.  This is pretty typical for someone in his position.
How important are specific credentials for entry or success?
A huge thing is to know a LOT of people.  Having a "sterling reputation" will help you to gain trust of people who will help you out.



Job Specifics
What is a typical day like for you?
James is probably not a typical example of someone in the financial industry because of his status.  A typical day for him consists of a couple of hours in the office in the morning, a lunch appointment with a client, taking a look at different businesses to help analyze them, and working on reports.  This may vary from day to day, but this is a "typical" day.
What do you like most about your work?
James loves the volatility of his work.  He never knows what any given day is going to throw at him and he loves that about it.  His favorite thing to do is help people expand their vision.
What do you like least about your job?
The current conditions do not allow for him to accomplish the things that he loves about what he does, and this is what he likes least about his job.  The fact that he cannot control the conditions of the environment makes things tough for business at times.
What talents or skills are most crucial to success in this work?
People skills is an absolute must!  If you do not know people and have the trust of the people that you work with, then you can never succeed.  You must be able to study situations and trends in the market as well.
What attitudes or values are important?
Hard work, honesty, and a "sterling reputation".
How do you advance or get promoted in this type of work?
As stated before, there are not really any opportunities for advancement in this field at the moment, but in order to advance, good relationships need to be built.  Additional schooling is not a must, but experience and keeping up with new trends is necessary.


Recommendations
What would you recommend I do if I want to go into this type of work?
Getting the education is first and foremost!  Try to get into internships and learn everything you can from the people you work with.
Are there other jobs similar to yours that you would suggest I also consider?
Right now careers in Law and Government are doing very well.  Many of the same values and talents will play a part in a career in either of these two fields as well.
Knowing what you do now, is there anything that you would have done differently?
No, everything went well with the circumstances that he was placed in.  Things are tough right now, but it is not because of anything that he did wrong.

Key Terms



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