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Possible Career Options
Entrepreneurial and Small Business Ventures
An entrepreneur is someone who starts their own business. They organize, manage, and assume the risks of the business.
Actuaries use their analytical skills to assess the probability of events occurring in relation to insurance, such as casualties, health, and property. Actuaries are usually employed by insurance companies, but governments, pension planning organizations, and third-party advisors may also require them. Strong mathematical skills are a necessity for this position.
- Bank Examiner:
A bank examiner analyzes all activities that take place within a bank. The analysis is done to determine whether the bank is running in accordance with federal laws regarding operations, performance, and management capacity.
- Commercial Banker:
A commercial banker works in the corporate division of a bank. It is the job of the commercial banker to retain the existing business as well as generate new business for the bank.
- Financial Analyst:
Financial analysts are generally employed by investment banks. Their duties include the analysis of a company’s position for the purposes of valuation for IPOs, mergers and acquisitions, and other company needs. This job requires someone who is good with numbers, enjoys research, has a broad understanding of finance, and is willing to put in long, demanding hours.
- Financial Planner:
A financial planner studies their clients’ financial position and future goals to determine the tools necessary to reach those goals. They deal with minimizing tax bills, education planning for children, retirement, and sometimes short-term investing. A position of this nature requires someone with strong interpersonal skills.
- Loans Officer:
A loans officer is in charge of evaluating and approving loans applications. They also counsel borrowers on their financial status and the various methods of payment.
Stockbrokers are in the business of selling stocks, bonds, insurance, and other investments to individuals. This is a tough business to get started in, but the rewards to a person with good interpersonal skills and great sales skills are high.
An accountant analyzes financial information and prepares financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, and other financial activities within an organization.
An appraiser values property for the purpose of pricing, investment, mortgage, or loans. An appraiser will also consider location and trends that may change the future value of the property.
- Claims Adjuster:
A claims adjuster works with people on their insurance claims after they have experienced a loss. It is important that the adjuster settles claims so that they are fair to all involved. Some adjustors work in an office while others work out in the field.
- Financial Aid Officer:
Financial aid officers direct scholarship, grant-in-aid, and loan programs to provide financial assistance to students in college or university. They may also select candidates and determines types and amounts of aid.
A fundraiser plans fundraising programs for charities or other causes, and contacts individuals or establishments to solicit funds or gifts-in-kind.
- Insurance Agent/Broker:
Insurance jobs exist to help businesses and individuals manage their risk. There are numerous types of insurance, all of which help minimize the loss if a problem occurs. The insurance agent is the person who actually sells the insurance to those who wish to minimize their risks.
A professor is generally found in a university setting teaching students at the university or post-grad level. This position requires a PhD. in the professor’s teaching area.
- Systems Analyst:
Systems analysts solve computer problems and enable computer technology to meet the specific needs of an organization.
Medium and Large Business
- Audit Manager:
An auditor’s job is to check the financial statements of corporations and governments to make sure that they have been prepared correctly and accurately. This job requires a good understanding of financial statements and computers.
- Benefits Analyst:
Benefit analysts conduct programs for employers and may specialize in specific areas such as position classifications or pensions.
- Budget Accountant:
A budget accountant analyzes past and present financial operations and trends in order to produce a budget for the future.
- Budgetary Control Analyst:
Budget Analysts are responsible for developing and managing an organization’s financial plans. There are plenty of jobs in this area in government and private industry. Besides quantitative skills, many budget analyst jobs require good people skills because of the negotiations involved in the work.
- International Trade Specialist:
An international trade specialist counsels companies on all aspects of international trade. This includes counselling on shipping requirements, export regulations, export documentation, import requirements, foreign standards, trade agreements, and many other international issues.
- Management Accountant:
Management accountants work for companies and help in capital budgeting decisions and business analysis. Major functions include cost analysis, analysis of new contracts, and expense control. Often, management accountants work with marketing and finance to develop new business for their company.
- Marketing/Sales Manager:
Sales managers are in charge of a company’s sales program, from training new sales representatives to setting goals for the sales department. The sales manager also gathers information on company sales to analyze it for forecasting purposes.
- Tax Accountant:
Tax accountants prepare corporate and personal income tax statements and formulate tax strategies involving issues such as financial choice, mergers and/or acquisitions, deferral of taxes, when to expense items, etc. This work requires a thorough understanding of economics and the tax code.
- Tax Compliance Specialist:
A tax compliance specialist investigates, collects, and enforces payments of tax liabilities. They also provide taxpayers with assistance and perform other related duties.
Changes are occuring as the new CPA designation becomes a reality. The information listed below is still accurate and will be updated once the CPA designation is official. You can go to www.cpaone.ca to learn more about the new program.
The internationally recognized CA designation can be obtained through either the CASB (Chartered Accountant School of Business or the MPAcc (Masters of Professional Accounting) program. Entrance into either of these programs is based on the completion of required university courses outlined above. A combination of passing the CA course exams and 36 months of relevant work experience will lead to a CA designation. Chartered Accountants can work in all sectors of the economy, but are generally divided into four segments: public practice, industry, government, or education.
CGA-Canada is working with the Chartered Professional Accountants of Canada (CPA Canada) to integrate operations under the CPA banner this year. Unification will enhance the influence, relevance, and contribution of the Canadian accounting profession both at home and internationally.
The Association of Certified Forensic Investigators (Association) is a non-profit Canadian organization whose objective is to promote and foster a national forum and governing body for the affiliation of professionals who provide to the public, governments, and employers, their expertise and services in the areas of fraud prevention, detection, and investigation. Memberships are available.
The services provided by a CFI relate to the prevention, detection, and investigation of fraud. This may involve, but not be limited to, providing a thorough and complete investigation to sustain or refute allegations of impropriety and subsequently providing testimony related. Another service provided might be the audit of business systems to determine the adequacy of controls to detect, prevent, and investigate fraud.
The ACFE is the world's largest anti-fraud organization and premier provider of anti-fraud training and education. The Certified Fraud Examiner (CFE) credential denotes proven expertise in fraud prevention, detection, and deterrence. Certified Fraud Examiners generally work in audit, law enforcement, anti-fraud consulting, management, or education. Student memberships are available. Take a look at their career centre for information on sample career paths, profiles of those with the CFE designation, and other useful information.
An international professional association, the IIA is the internal audit profession's global voice, recognized authority, acknowledged leader, chief advocate, and principal educator. Generally, members work in internal auditing, risk management, governance, internal control, information technology auditing, risk management, governance, internal control, information technology audit, education, and security. Student memberships in the IIA are $35 and provide a host of benefits such as access to research reports and the career center. Take a look at the Audit Career Centre for more information on launching your internal audit career.
The CICBV establishes the practice standards, educational requirements, and ethical quidelines, which support and promote the integrity of the CBV profession. Business valuation is one of the fastest growing, highly-specialized professions. CBVs are employed at accounting firms, investment banks, venture capital firms and boutique valuation consulting firms. Others work directly in a variety of businesses across Canada and throughout the world. Check out posted employment opportunities to see who's hiring and the kinds of opportunities available in the business valuation profession.
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