The Evolving Challenge of Corporate Finance Roles
Have you ever considered a role in Corporate Finance? Perhaps youâ€™ve recently qualified as an Accountant or just have a way with numbers, and could see yourself in this kind of role. If so, read on â€“ youâ€™ll do well to find a more varied position, in terms of challenge and change.
A businessâ€™ whole purpose for existing is to generate money. And when a business makes enough money, and grows to a certain level, a Corporate Finance officer or staff member becomes a requirement. So, what would be the competencies one might need for a role like this?
Firstly, (and this may be a given), being somebody who finds dealing with numbers easy, would be a must for a role such as this. You would also be someone with very strong analytical & quantitative skills. You would need to have strong communication skills, both verbal and written, as you would be in constant consultation with professions such as Corporate finance solicitors and other colleagues within the business itself.
From an ideal standpoint, something along the lines of a professionally recognised Accountancy qualification would be a desirable achievement in setting off on this profession. Undergrads and MBAs are usually the most sought after by companies. However, there may be an opportunity in your current company to train as a Corporate Finance Officer (or company equivalent title). Many businesses like to keep their â€œHome grownâ€ staff, and will offer this kind of training, including on the job scenario exercises, as incentive to their staff to stay in their employ.
The Role Itself:
Perhaps the best part of the job itself is, how widely varied it is. No 2 roles in different companies are the same, and your duties can change from day to day (maybe even hour to hour!). You may be handling tax matters, payroll calculations & submitting financial reports. You may even have to source a solicitor to deal with legal matters. Taking a look at the Solicitors Guru website can help you find relevant contact details, when it comes to Corporate finance. Your day will be busy, challenging, but at the same time, very fulfilling. This is one of those jobs where, you can see that your contribution has made a difference, daily.
This is the kind of position that requires continuous professional development, as matters such as tax can change on an annual basis. Therefore, you may have to attend conferences / meetings and graduate to different levels of qualification as the years go by in your role. You may also be required to pay subscriptions to relevant bodies relating to your profession, but as you will learn, these are all tax deductible!
This information is but a tiny drop in a huge ocean of information pertaining to the role of a Corporate finance officer. Itâ€™s worth doing your research, either via online utilities or internally in your current employment, to ascertain if the possibility of applying for a similar role is available to you.