Key Financial Roles & Responsibilities
In this lesson, you’re expected to learn about the different kinds of roles that finance professionals perform.
There are a wide variety of positions available in corporate finance. In this lesson, we’ll cover some of the more common ones.
The entry-level positions in corporate finance are typically the same as the ones you see in Accountancy.
Account clerks and other paperwork processing: people who work on data entry.
Credit control: people who process incoming payments and money owed.
Payroll: they make sure that you get paid.
Purchase ledger clerks: people who process outgoing payments and money owed to others.
Analysts get to do vast amounts of research and analysis to generate useful information from data or to investigate as yet unstudied scenarios.
Normally, analysts receive budget information or corporate financial information and are told to do the calculations necessary to make recommendations.
In corporate finance, auditors go back and check the work of all the other finance professionals, making sure that everything is accurate and done properly.
They’re also sometimes the ones who discover cases of fraud or theft.
A special kind of auditing, where auditors do their calculations for the purpose of presenting them in court, is called forensic accounting.
Any claim large enough for a company to file is guaranteed to attract a loss-adjuster inspection.
Although companies try to keep someone from each department in executive positions, that isn’t always the case. In the case of corporate finance, the Chief Financial Officer (CFO) is supposed to be a financial professional in executive management.
Unlike investors, who purchase investments with the intention of holding onto them for an extended period of time with the expectation of them rising in value, traders hold onto investments just long enough for their value to rise a little bit and then sell them at a profit.
Often treasury officers are also in charge of risk management, although this responsibility is sometimes given a separate position, depending on the company.