Corporate Finance Job Description
A corporate finance specialist helps a firm evaluate operating data and industry indicators and advises management on budget adjustment and general investment decisions. A specialist also may ensure that controls around financial reporting mechanisms operate adequately and effectively, and that such controls prevent errors in financial statements. A finance specialist usually holds a bachelor's or a master's degree in accounting, finance, tax or auditing.
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Responsibilities
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A finance specialist helps a corporation prepare and report accurate and complete financial statements that comply with generally accepted accounting principles---or GAAP, regulatory policies and industry guidelines. Financial records are complete if they display a balance sheet, a statement of profit and loss, a statement of cash flows and a statement of stockholders' equity. A financial analyst evaluates a company's operating data, assesses business performance and determines proper levels of "working capital" and "capital structure" ratios. "Working capital" is a measure of short-term cash availability and equals current assets minus current liabilities. "Capital structure" indicates various funding sources a firm uses to finance operations. A finance expert also may help a corporation file tax returns and abide by fiscal guidelines.
Job Opportunities
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A corporate finance expert may work for a government agency, a business entity or a public accounting or business advisory firm. This specialist also may use finance and economics skills to help a charitable organization with fundraising, conduct research, teach at a university, or work at a think tank.
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Qualitative Requirements
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A corporate finance specialist must have experience in capital markets transactions, financial securities, international finance and taxation, regulatory requirements and business analysis. This expert also must have statistical, mathematical and financial statement analysis skills.
Education/Training
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A finance specialist usually holds a bachelor's degree in finance, auditing, tax, accounting or investment management. A worker with a higher degree---such as a master's or a doctorate diploma---may work in senior roles, conduct research or teach at a university or a college.
Salary
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Corporate finance salaries depend on expertise, academic training and sector. An experienced or a certified specialist ---such as a certified public accountant (CPA)---earns more than the average worker. Bureau of Labor Statistics data indicate that median wages of financial accountants and auditors in 2008 were $59,430, while finance managers earned $99,330 In average.
Work Hours/Locations
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A corporate finance specialist's work schedule depends on business needs and financial markets activities but usually starts at 8 a.m. and ends at 5 p.m. A finance specialist may work longer at month- and quarter-end to ensure that a company sends regulatory filings---to the Internal Revenue Service and the Securities and Exchange Commission---on time. This expert usually lives in a city or in the suburbs.
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References
Resources
- Photo Credit finance image by Chad McDermott from Fotolia.com
