Important Careers in the Banking and Financial Industry

The banking industry in the U.S. is a large concern that is vital to the well-being of society. Statistics show that at the end of 2018, U.S. banks contained nearly $18 trillion in assets and a net income of over $236 billion. The financial sector in the U.S. supports the largest economy in the world and boasts the greatest diversity of banking institutions. Financial services employ as many as 6 million people in a variety of jobs. Many of these jobs are extremely interesting and even a bit unexpected. Here are a few vital jobs related to banking.

Forensic Services

At times, legal proceedings require in-depth knowledge of various aspects of the banking system. Expert witness services provide this expertise in the court system. This expert testimony can be an important part of a case for a defendant or a plaintiff, particularly if the witness is highly-experienced with aspects of the banking industry. Banking litigation support includes such things as discovery assistance, regulatory research and clarification of standard banking practices. A keen understanding of the banking industry can be a valuable tool in a court case.

Military Work

Many jobs in finance are needed in the armed services. Military finance officers manage contracts and negotiate purchases with a variety of third-party suppliers for such things as land, property and goods. They also play a vital role in the forecasting of future budget projections, helping the military stay on sound financial ground. These jobs typically require a high level of education, usually an MBA in finance. In some cases, the military helps a person pay for this education. The military also provides additional training to help a person rise to leadership positions.

Sports Accountants

Professional sports deal in a lot of money each and every day. Someone has to keep a tab on these finances to make sure athletes, managers and stadium workers get paid. Then there is the need to pay for lighting and heating services. An accountant in this field could be involved in everything from handling lucrative television deals to helping structure the purchase of a new stadium. Accountants are needed in professional sports teams at the highest level as well as in the minor league systems. An accountant might also deal with tax issues related to payments to athletes and to the affordability of new buildings. The job is a big one and could even include perks such as season tickets.

Accounting is a rewarding career that requires hard work and dedication. Whether you’re new to the field or looking for more challenging opportunities, there are many ways to make it in Canada’s competitive accounting sector!

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