Depending on the interest if an individual, there are lucrative career opportunities for a person with a background education in finance. There are a variety of categories that could be explored by such a person. Such include but are not limited to banking, insurance, real estate, financial planning, private equity, hedge funds among others. Under accounting, one of the careers that could be explored by enthusiastic individuals is auditing, a career that falls under the assurance umbrella. Besides the above, an individual can also secure a finance-related job in commercial banking as a banker.
Auditors, as well as bankers, play a crucial role in not only the operation of the company they work for but also for its success. The responsibilities that are tied to a company’s auditor include:
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• The analysis as well as the verification of a company’s assets as well as liabilities. This enables the company to know its value as well as plan around its assets as well as liabilities to ensure it attracts investors by making profits.
• Studying as well as analyzing related security policies, and giving expert advice on the action that needs to be taken depending on how the company fares on. This helps them to ensure it sticks on the right side of the law.
• Conducting audits as well generate reports that are related to different trends inherent in the financial statements of the company. The above helps the company understand its cash flow in the organization, a factor that helps them in better decision making to ensure they progress well.
• Ensure there is good compliance in terms of financial related issues with the internal policies of an organization. This helps the company not to deviate from its goals, goals as well as missions, especially in finance handling.
On the other hand, a banker plays a crucial role in an organization’s success by assuming the following roles.
• One of the most important work of a banker is overseeing the operation of customer’s accounts. Here, they are responsible for opening, ensuring their security as well as help in the in serving the customers through various transactions in their account when the need arises. Since overseeing transactions is one of the biggest roles of a bank, a banker helps a company to achieve its mission as well as vision.
• A retailer banker is charged with many responsibilities which include but are not limited to assessing the financial circumstances of the bank, budget management, maintaining records such as statistical and financial related records among others. The above undertakings help the bank in ensuring it competes favorably by eliminating some financial discrepancies that could be realized as result of not looking into its finance-related ventures.
• Other related undertakings by bankers that ensure a smooth running of a bank is advising customers on finance related matters as well as solving problems related to customer’s bank accounts.
For an auditor, there are indispensable skills required for the person to dispense his or her duties as required. First of all, clerical skills are essential in ensuring that the auditing process correct and adheres to the general accounting standards. Besides, without the necessary auditing skills, omissions, as well as misstatements, could be rampant in a financial report, making it obsolete. Closely related to the above, being attentive to detail is another critical skill that ensures there are little or no mistakes in auditing as well as reporting. Besides the above, excellent communication skills is also a necessity due to the need to communicate about financial-related aspects found after the analysis of financial statements of a company. The communication skills should be both written as well as spoken.
On the other hand, a bank has to possess essential skills such as excellent communication skills, education-related skills that help him or her to dispatch duties inherent in a bank such as being a teller, analytical thinking, as well as entrepreneurial skills that enable him or her to give expert advice to customers. Communication skills are essential in ensuring the banker passes clear as well as understandable information to customers, fellow stuff as well as investors. Analytical and entrepreneurial skills help them in understanding trends in the workplace as well as in the business world, information that is important in giving advice to customers as well as solving problems within the bank.
Between the two careers mentioned above, being an auditor other than a banker is more attractive for a number of reasons. First of all, in some cases, auditors get a better pay than bankers. Besides, auditors learn about diverse skills in the field, making them able to settle into other careers such as being financial consultants, an aspect due to skill is hard to come by for the bankers. Also, it is easier to work on a contract when an individual is an auditor in comparison to when one is a banker. Such a possibility enables flexibility on the side of the worker, an aspect that gives him or her the time to work on personal interests such as running a business.
