an overview of accounting careers within financial services firms presented by egyirba...
TRANSCRIPT
An Overview of Accounting An Overview of Accounting Careers Within Financial Careers Within Financial
Services FirmsServices Firms
Presented by Egyirba Walker-Arthur,
Accounting/Finance Program Manager
Sponsors for Educational OpportunitySponsors for Educational Opportunity
Purpose of the Accounting Department at an I-Bank
Enhance the company's competitive leadership position and strategic flexibility and to ensure the accuracy of critical financial information
Responsibilities Include:Market and credit risk management
Treasury
Financial and regulatory reporting and controls
Corporate and strategic planning
Internal audit
Tax policy
Regulatory supervision on a global basis.
Accounting Departments at I-Banks
Business Unit Finance Controllers Division
Corporate Tax
Corporate Treasury
Internal Audit
Risk Monitoring
Business Unit Finance Opportunity to merge your other business interests with accounting by working with Business Units like Human Resources, Marketing, etc.
Controllers DivisionGreat department if SEC and other regulatory reporting interests you –be on the frontline of interaction with investors.
Corporate TaxIf you like having input into creative tax strategies and reporting, tax may be the best fit for you.
Accounting Departments at I-Banks
Corporate TreasuryBe involved in the cash transaction and the actual movement of money to and from the firm
Internal AuditA chance to travel and interact with business unit management all over the firm
Risk MonitoringA role that is constantly redefined with the proliferation of new credit and equity products in the market every day
Accounting Departments at I-Banks
Why Work in Accounting at an Investment Bank?
Learn the business of running an I-Bank
Help execute strategic goals, drive disciplined growth, and enhance operational efficiencies
Opportunity to gain a broad and deep knowledge of various areas of a bank
Several banks offer rotational programs
Accounting Partner Firms
Internship opportunities are located throughout NYC and New Jersey
Internship Program Internship Program RequirementsRequirements
Minimum cumulative G.P.A of 3.0
Minimum of three accounting courses is required with a grade of B or better in each by the time the summer begins
Broad knowledge of the finance industry is highly desirable
Excellent quantitative and analytical skills
This program is primarily open to junior finance/accounting majors. Seniors who will have one semester to complete at the time of the internship may be considered. Graduating seniors and sophomores are not eligible for this program.
How to Prepare
Recommended Coursework:At your College/University:
Introduction to AccountingFinancial AccountingManagerial AccountingCost AccountingIntroduction to Finance
Zoologic:The Balance SheetThe Income StatementCash Flow StatementIncome Statement AnalysisRatio Analysis
How to Prepare (cont)How to Prepare (cont)
Recommended Reading:Online Periodicals/Industry Resources:
Wall Street Journal (online.wsj.com)
CFO Magazine (cfo.com)
Financial Accounting Standards Board (fasb.org)Webcast Series
Great resource to look up Accounting Standards
Vault Guide:Career Guide to Accounting
Guide to Finance Interviews
