When it comes to careers in money, we all know the basics: broker, analyst, lender, consultant, accountant and about 1,000 variations of each. When it comes to finding new finance jobs, though, sometimes the road less travelled is the one paved with gold.
We spoke to industry pros David Bakke, of investment and education website MoneyCrashers.com, and Brian Hugins, senior connector at 919 Marketing, to hear about a few roles in the industry that might not pop into your head right away when you think “finance jobs.” Here are ones they brought to our attention:
Do you like crime dramas and court-room thrillers? Do you happen to be more of a number-cruncher than a chase-’em-down-the-alley action hero? If so, this lesser-known position might be for you. According to Bakke, forensic accountants generally work for the FBI. It’s their job to snoop out criminal financial behavior, or potential criminal financial behavior, being carried out on the sly by companies and corporations.
“Forensic accountants may also investigate international terrorism, espionage, and general public corruption,” says Bakke.
MoneyJobs.com had a posting recently for the position of forensics accounting consulting associate with McGladrey, a leading provider of assurance, tax and consulting services. In its description of this sleuth-like role, the posting said the job would entail “conducting investigations related to embezzlement … Ponzi schemes, health care fraud, fraudulent conveyance, purchase price disputes, royalty audit, related party transactions, billing disputes, bankruptcy fraud, securities fraud, anti-money laundering, and other matters.”
Hugins added alternative financing to the list of uncommon finance jobs. He works with a company called the Interface Financial Group (IFG) that does exactly this. IFG provides short-term working capital to small and mid-sized business, but they are not loaners and their franchises do not lend money.
Instead, they do something called invoice discounting. IFG buys a company’s current, unpaid invoices, which grants their clients instant access to capital.
“Invoice discounting is essential to continue the economic recovery because it is one of the few forms of funding available to companies, especially in the small business arena” explains IFG president David Banfield. “Because our service is offered in a franchise format, clients are doing business with the person who will actually make the decision and buy their invoices, ensuring a very timely approach to servicing the client’s needs.”
Though the company has been in business for 40 years, Hugins points out that this kind of alternative financing is something many people don’t hear about until they’re in need of its service.
Are you fortunate enough to both understand the money world and the written word? If so, finance jobs that combine your skill sets, like that of investment writer, are worth looking into. “Although you need experience and the ability to write, it can be a lucrative career,” Bakke says of investment writing. “Potential employers include banks that need help with marketing materials, or even a magazine or newspaper with a financial focus.”
These writers can write for savvy audiences who know the lingo or for the general public. When doing the latter, they take the jargon of the industry and put it into smooth, digestible terms those who don’t have a finance background can understand. The work of the investment writer can range from ghostwriting a financial article (that is, assisting a writer behind the scenes without taking credit as the author), writing newsletters, press releases, content for websites, books, speeches, columns and much more.
Investment writers are especially useful when companies want to communicate with people outside the industry or attract new business. The writer can articulate in an understandable manner what the finance company offers without asking the audience to read “The Complete Idiot’s Guide to Investing” first.