Тема 3. Careers in finance. Requirements to specialists in finance. Positions in finance management.

Лабораторне заняття 5

Careers in finance.

Exercise 1. Read and translate the text into your native language.

CAREERS IN FINANCE

Careers in finance vary as widely as the field of finance itself. But the majority of the career paths in finance require extensive, highly specialized knowledge and advanced degrees. Specialists must have intensive training in accounting, economics, money and banking, strategic planning, investments, international finance and a number of related areas. Over the past decades the field of finance increased so much that it is generally subdivided into three parts. Financial markets and institutions, financial management, and investments are commonly considered to be separate disciplines.

Positions in financial institutions and markets can include everything from a bank teller to senior banking specialists. One bank employee that nearly every customer sees and talks with is a bank teller – the clerk who receives deposits and dispenses cash and information. Bank tellers must be friendly with customers, accurate with all their transactions and know about the other departments of the bank and the services they sell. Most banks hire as tellers people with higher education or four-year university degrees. Bank loan officers make initial contacts with potential new customers and assist them in filling loan requests and in developing a service relationship with the bank. Managers of bank operations are responsible for processing checks and clearing other cash items on behalf of their customers, for the activities of tellers, and for handling customers’ problems with their checking accounts and other bank services. Branch managers lead each branch’s effort to attract new accounts. They also approve many requests (especially larger loans) and resolve customer complaints. Branch managers must know how to manage and motivate employees and how to represent the bank well in the local community.

Financial management is concerned with how firms acquire and allocate funds and how these funds are spent. Financial management also emphasizes the cash budget and management of its component. Level positions in financial management include budget analysts, financial planners, cash managers, credit managers, or financial accounting managers, comptrollers and treasurers.

The study of the markets for stocks and bonds, commodities, warrants and financial futures are all parts of the investments area. Generally it is the investment area that attracts people to finance. They see appealing opportunities in such positions as brokers, investment or industry analysts, investment advisers.

Text-based exercises.

Exercise 2. Find a word or phrase in the text that has a similar meaning. You can use the words and phrases below but the letters in them are in the wrong order.

recare, setintnevm, karmet, cotnauc, dunf, shac getbud, kostc, nobd, modtycomi

1. management of money or money resources; (paragraph 1) -finance;

2. professional course through life, occupation; (par. 1)

3. money invested or stocks and shares bought; (par. 1)

4. any established operating means or exchange for business dealings between buyers and sellers; (par. 2)

5. a printed form on which you write an amount of money and who it is to be paid to; (par. 2)

6. permanent stock or sum of money; (par. 3)

7. annual financial statement dealing with cash of a business; (par. 3)

8. money invested in a firm or business; (par. 4)

9. written promise to pay money or carry out a contract; (par. 4)

10. an article of commerce; anything meeting a need; (par. 4)