Calling all past and present financial analysts

  • Creator
    Topic
  • #177738
    MustPass1988
    Member

    After a 7 months at job that I absolutely hate, with no ability to progress, advance or have any responsibility, I got an interview at a financial institution for a financial analyst position! I know that financial analysts work with investment opportunities for companies and evaluate financial data but I’m wondering if people who have ever been in a financial analyst position or are currently a financial analyst can give me a little more insight as to what they do on a day to day basis. My interview is in a week and I want to be as prepared as I can be!

    AUD: PASSED [81]; Expired, retaking August 23rd
    BEC: PASSED [83]; Expired, retaking July 11th
    REG: PASSED [83]
    FAR: FAILED [64]; Retaking May 23rd

Viewing 4 replies - 1 through 4 (of 4 total)
  • Author
    Replies
  • #414353

    I work at an industrial bank doing something similar to what you describe. The bank extends asset-based lines of credit to small- to medium-sized businesses and also does equipment loans and leases. In two years there, I've had two pretty distinct roles. My first year or so was spent working with underwriters, who are normally VP level. Once a salesperson brought a deal in, we would create a credit write-up talking about the business, the collateral, and financial performance. It involves looking at trends, picking out and mitigating risks, assessing management, etc. I was hired mainly because of my writing ability (hadn't quite finished the master's at the time, but that helped, too), and I imagine strong writing skills will be key even if this is a completely different type of lending. As I gained more experience, I was trusted with more of the responsibilities, but there was always an underwriter to at least review what I was doing.

    For the last year, I've had the title of senior financial analyst and have mainly done field exams for existing clients. On our higher level product, we don't have as much visibility of the collateral (A/R and maybe inventory) day-to-day, so a field exam is done once a year or as needed. I landed in that role since it involves a lot of travel and I'm pretty much the only educated single person at the bank (Mormons like to get married young). With that, I'm usually the only person from the bank on-site, so I've had about a dozen CFO's subject to my every whim (bwahaha) since they want to keep getting money from us. There's a PR aspect to it as well that I've enjoyed and has helped me crack out of my shell a bit more. The exposure to upper-level management has been really valuable, I think, as have all the rewards points.

    That about sums it up. It's been a good job, but I'll probably be leaving soon for various reasons mostly unrelated to the work itself. If banking interests you, it's a great way to get some cross-functional exposure, which could make you pretty valuable down the road. If you have a job description or something, I could maybe tell you more or tell you if it's completely unrelated to what I do. Good luck!

    FAR - 76 (1/12)
    AUD - 76 (5/12)
    BEC - 82 (11/12)
    REG - 59, 73, 73, 78! (4/12, 8/12, 10/12, 2/13)

    Wiley test bank on everything, Roger USB+book on REG after first attempt.

    Licensed CPA in Utah

    #414354
    MustPass1988
    Member

    I just saw this- thanks for the reply! I appreciate getting an insight as to what the job might entail. I hope it's not a lot of traveling though because that's why I left public accounting. I'm excited about this job potential- I really want to be in more of a finance job.

    AUD: PASSED [81]; Expired, retaking August 23rd
    BEC: PASSED [83]; Expired, retaking July 11th
    REG: PASSED [83]
    FAR: FAILED [64]; Retaking May 23rd

    #414355
    Anonymous
    Inactive

    @MustPass – My job title is financial analyst but is completely different from what HelloREG described. I think the term financial analyst can be really broad depending on the company/industry. I work for a Fortune 500 company and their “analyst” jobs are just really the “management in training” gigs. So I'm still kind of on the outside looking in from a rollup perspective.

    I am responsible for certain accounts for a segment of our business. I work to update the business plan quarterly and then do month end closing each month w entries/accruals and then explain the act vs plan variances. From a closing/reporting standpoint that usually takes up about the first 12 business days of the month. The rest of the days are spent in process improvement (database implementation/gathering info from other departments) or on projects like NPV analysis or other database implementation projects.

    #414356

    It shouldn't involve a lot of travel as long as you're in an underwriting capacity, but I would be sure to ask about the career progression. Pretty much anything above the entry level where I am requires at least occasional travel. Nothing like public accounting to my knowledge, though I don't have any public experience.

    FAR - 76 (1/12)
    AUD - 76 (5/12)
    BEC - 82 (11/12)
    REG - 59, 73, 73, 78! (4/12, 8/12, 10/12, 2/13)

    Wiley test bank on everything, Roger USB+book on REG after first attempt.

    Licensed CPA in Utah

Viewing 4 replies - 1 through 4 (of 4 total)
  • The topic ‘Calling all past and present financial analysts’ is closed to new replies.