lap: qs-051 objectives describe career opportunities in financial services. discuss issues and...
TRANSCRIPT
LAP: QS-051LAP: QS-051
Objectives
Describe career opportunities in financial services.Describe career opportunities in financial services.
Discuss issues and trends in the financial-services industry.Discuss issues and trends in the financial-services industry.
Describe career opportunities in financial services.
Describe career opportunities in financial services.
Objective
Careers in Finance
Any job that involves money managementAny job that involves money management
Finance jobs are everywhere !Finance jobs are everywhere !
Career Pathways in Financial Services
Broker Broker
• Works for a brokerage house
• Trades securities for clients
• Must pass difficult licensing exams
• Long and hectic hours
• Works for a brokerage house
• Trades securities for clients
• Must pass difficult licensing exams
• Long and hectic hours
Financial and Investment PlanningFinancial and Investment Planning
Career Pathways in Financial Services
Investment banker Investment banker
• Works for an investment bank—specializing in helping corporations and governments with complex financial matters
• Assists client with details and strategy
• Stressful work
• Long, irregular hours
• Works for an investment bank—specializing in helping corporations and governments with complex financial matters
• Assists client with details and strategy
• Stressful work
• Long, irregular hours
Career Pathways in Financial ServicesFinancial and Investment PlanningFinancial and Investment PlanningFinancial and Investment PlanningFinancial and Investment Planning
Mutual fund manager Mutual fund manager
• Works for a mutual fund company
• Trades individual securities within each fund
• Makes decisions to help the fund grow in value
• Works for a mutual fund company
• Trades individual securities within each fund
• Makes decisions to help the fund grow in value
Career Pathways in Financial ServicesFinancial and Investment PlanningFinancial and Investment PlanningFinancial and Investment PlanningFinancial and Investment Planning
Financial analyst Financial analyst
• Also known as securities analyst or investment analyst
• Evaluates companies and industries and makes recommendations to buy, sell, or hold securities
• May become a CFA (Chartered Financial Analyst)
• Also known as securities analyst or investment analyst
• Evaluates companies and industries and makes recommendations to buy, sell, or hold securities
• May become a CFA (Chartered Financial Analyst)
Career Pathways in Financial ServicesFinancial and Investment PlanningFinancial and Investment PlanningFinancial and Investment PlanningFinancial and Investment Planning
Personal financial advisor Personal financial advisor
Career Pathways in Financial ServicesFinancial and Investment PlanningFinancial and Investment PlanningFinancial and Investment PlanningFinancial and Investment Planning
• Provides individuals and families with guidance for investment and financial decisions
• May also buy and sell certain financial products
• Works flexible schedule, designed for clients’ needs
• Provides individuals and families with guidance for investment and financial decisions
• May also buy and sell certain financial products
• Works flexible schedule, designed for clients’ needs
• May become a CFP (Certified Financial Planner)
• May become a ChFC (Chartered Financial Consultant)
• May become a CFP (Certified Financial Planner)
• May become a ChFC (Chartered Financial Consultant)
Financial clerk Financial clerk
Responsible for financial recordkeeping
Bill and account collectors
Procurement clerks
Billing clerks
Payroll and timekeeping clerks
Usually paid hourly
Responsible for financial recordkeeping
Bill and account collectors
Procurement clerks
Billing clerks
Payroll and timekeeping clerks
Usually paid hourly
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Business/Corporate Financial ManagementBusiness/Corporate Financial Management
Financial manager Financial manager
Oversees part or all of an organization’s finances
Risk and insurance managers
Treasurers
Cash managers
Oversees part or all of an organization’s finances
Risk and insurance managers
Treasurers
Cash managers
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Business/Corporate Financial ManagementBusiness/Corporate Financial Management
Commercial banks Commercial banks
Offer financial products and services to individuals and businesses
May be large or small
Offer financial products and services to individuals and businesses
May be large or small
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Typesof banks
Credit unions Credit unions
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Financial cooperative created, owned, and managed by members
Membership is based on a common link.
Lower fees and interest rates than a commercial bank
Financial cooperative created, owned, and managed by members
Membership is based on a common link.
Lower fees and interest rates than a commercial bank
Savings banks Savings banks
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Accept deposits for savings accounts
Lend money for mortgages
Customers are primarily individuals rather than businesses.
Accept deposits for savings accounts
Lend money for mortgages
Customers are primarily individuals rather than businesses.
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Conducts routine bank transactions
May sell additional bank products
Salaries vary widely.
Conducts routine bank transactions
May sell additional bank products
Salaries vary widely.
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Finds clients and helps them apply for loans
May specialize in commercial, consumer, or mortgage loans
May become a CMB (Certified Mortgage Banker)
Finds clients and helps them apply for loans
May specialize in commercial, consumer, or mortgage loans
May become a CMB (Certified Mortgage Banker)
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Assesses loan requests and makes recommendations to the loan committee
Assesses loan requests and makes recommendations to the loan committee
May specialize in a certain type of lending
May specialize in a certain type of lending
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Oversees all functions of a particular
bank branch
Hires personnel
Resolves customer complaints
Oversees all functions of a particular
bank branch
Hires personnel
Resolves customer complaints
$$
$$ $$
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Sells insurance policies and other financial products
May specialize in a certain type of insurance
Must be licensed
Sells insurance policies and other financial products
May specialize in a certain type of insurance
Must be licensed
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Assesses risk using statistical analysis
Helps design policies to minimize risk
Must pass a stringent series of exams
Assesses risk using statistical analysis
Helps design policies to minimize risk
Must pass a stringent series of exams
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Calculates the risk of loss
Establishes premium rates
Designs policies to cover risk
May specialize in a certain type of insurance
Calculates the risk of loss
Establishes premium rates
Designs policies to cover risk
May specialize in a certain type of insurance
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Assists buyers and sellers in the process of purchasing or selling property
May specialize in commercial or residential property
Must be licensed
Assists buyers and sellers in the process of purchasing or selling property
May specialize in commercial or residential property
Must be licensed
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Determines the value of a specific property
May specialize in a certain type of property
Must be licensed
Determines the value of a specific property
May specialize in a certain type of property
Must be licensed
Career Pathways in Financial ServicesCareer Pathways in Financial Services
Prepares, analyzes, and verifies a variety of financial data
Government accountant
Internal accountant
Management accountant
Controller
Public accountant
Prepares, analyzes, and verifies a variety of financial data
Government accountant
Internal accountant
Management accountant
Controller
Public accountant
Discuss issues and trends in the financial-services industry.Discuss issues and trends in
the financial-services industry.
ObjectiveObjective
Traits, Skills, and Education
• College degree
• Aptitude for math
• Computer skills
• Problem-solving skills
• Self-confidence
• College degree
• Aptitude for math
• Computer skills
• Problem-solving skills
• Self-confidence
T e c h n o l o g yT e c h n o l o g y
• Online banking
• Purchasing financial products online
• Encryption technology
• Both positive and negative effects
• Online banking
• Purchasing financial products online
• Encryption technology
• Both positive and negative effects
DeregulationDeregulation
• Financial Services Modernization Act of 1999
• Blurred lines between banking, securities, and insurance industries
• Financial Services Modernization Act of 1999
• Blurred lines between banking, securities, and insurance industries
• Baby Boomer generation
nearing retirement
• Better education
• Baby Boomer generation
nearing retirement
• Better education
demographicsdemographics
Quick Case
• “Most read” financial analyst on Wall Street
• Made many lofty predictions before the “dotcom bust”
• Was investigated by the SEC after the “dotcom bust”
• Fined and barred from the industry for life
• Stricter industry regulations now
MarkED
Acknowledgments
Original DevelopersLelia Ventling and Sarah Bartlett Borich, MarkED
Version 1.0
Copyright 2007MarkED Resource Center
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