Financial Services

Graduating from an accounting program can often lead to a career in financial services. Financial services, also known as commercial and investment banking, is an accounting job in which an individual helps other individuals and/or organizations secure the funding that they need, make the investments that they want to make, and carry out other necessary financial transactions. Commercial and investment bankers analyze financial documents; assist organizations in creating and selling stock; check credit reports to determine if an individual or organization has the credit required for a loan; and help individuals and organizations set up bank accounts. In addition, commercial and investment bankers issue insurance and loans; provide individuals and organizations with information about investment opportunities; provide organizations with information about the financial and legal issues that they may face during a merger or acquisition; sell bonds, Certificates of Deposit (CDs), stock, and other similar products to individuals and organizations; and perform other similar tasks .

Individuals in the financial services industry may work in any of a number of different positions, and the specific responsibilities that an individual will be required to perform can vary from position to position. Some of the more common positions for individuals in the financial services industry include account manager, bank accountant, bank manager, cash management manager, commercial loan processing clerk, commercial loan processing manager, consumer loan processing manager, financial analyst, financial planner, financial services auditor, insurance agent, and stockbroker.

The specific degree that an individual must have in order to obtain a position in the financial services industry can vary greatly from position to position. Many employers require an individual to have a bachelor’s degree in accounting or business, a bachelor’s degree in economics or finance, a master’s degree in accounting or finance, a Master’s Degree in Business Administration (MBA), or another similar degree from an accredited accounting school. In addition, a Certified Financial Planner (CFP) certificate, a Certified Public Accountant (CPA) license, a license from the Financial Industry Regulatory Authority (FINRA) that is appropriate for the position, and/or another similar certification or license may be legally required. (For example, a stockbroker must obtain a Registered Representative (RR) license or a Financial Services Representative (FSR) license before he or she begins working).