2. LAP: QS-051

3. Objectives Describe career opportunities in financial services. Discuss issues and trends in the financial-services industry.

4. Describe career opportunities in financial services. Objective

5. Careers in Finance Any job that involves money management Finance jobs are everywhere !

6. Career Pathways in Financial Services  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 Planning Career Pathways in Financial Services

7.  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 Services Financial and Investment Planning

8.  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 Services Financial and Investment Planning

9.  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 Services Financial and Investment Planning

10.  Personal financial advisor Career Pathways in Financial Services Financial 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)

11.  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 Services Business/Corporate Financial Management

12.  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 Services Business/Corporate Financial Management

13.  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 Services Types of banks

14.  Credit unions Career 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

15.  Savings banks Career 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.

16. Career 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.

17. Career 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)

18. Career Pathways in Financial Services Assesses loan requests and makes recommendations to the loan committee May specialize in a certain type of lending

19. Career 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 $ $ $ $ $ $

20. Career 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

21. Career 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

22. Career 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

23. Career 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

24. Career 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

25. Career 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

26. Discuss issues and trends in the financial-services industry. Objective

27. 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

28. T 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

29. Deregulation Deregulation 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

30. Baby Boomer generation nearing retirement Better education Baby Boomer generation nearing retirement Better education demographics demographics

31. 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

32. MarkED Acknowledgments Original Developers Lelia Ventling and Sarah Bartlett Borich, MarkED Version 1.0 Copyright  2007 MarkED Resource Center

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