A Master of Business Administration is a versatile degree covering a wide array of business subjects. On the other hand, MBAs with concentrations provide more depth of study in a specific field, including about one graduate-level course in a wide range of business disciplines.
Below, we’ll discuss what an MBA program with a concentration in finance is, the job opportunities it offers, and the responsibilities of those jobs.
What Is an MBA Concentration in Finance?
The MBA with a Finance concentration program offers in-depth training in finance principles. Finance MBAs often start in the same way as other MBAs, with introductory courses in various business disciplines. Then, students begin taking focus courses as they progress through the MBA’s basic courses.
This degree aims to advance a career within a current company and learn how to contribute productively to today’s international, political and economic fields. An MBA with a concentration in finance is perfect for students who want an overview of business fundamentals and a focus on financial management.
8 Best MBA Finance Jobs
Given the degree’s versatility, a finance MBA can prepare you for a wide range of roles in and beyond finance, and graduates qualify for an array of financial and business occupations—from low-level managerial positions to the C-Suite ones. Let’s see which are these positions, what they mean, and their responsibilities.
Financial analysts are in charge of a company’s or corporation’s financial planning, analysis, and predictions. Their job is to build cost structures, estimate capital budgeting for projects, and anticipate future revenues and expenditures. In senior roles, financial analysts coordinate with CFOs and other executive team members to determine the company’s overall investment strategy and policies.
What does a Financial Analyst do?
Daily responsibilities for financial analysts include:
- Analyzing financial data and performance from a client’s current situation and previous activities,
- Assessing current capital expenditures and depreciation,
- Investigating investment possibilities,
- Developing and assessing profit plans,
- Identifying financial performance patterns and making suggestions for improvement,
- Reviewing financial estimates with other members of the finance team,
- Modeling and predicting financial data,
- Developing automated reporting/forecasting systems to boost productivity.
Finance managers examine daily financial transactions and offer advice and direction to top management on future financial objectives. They may be employed in many different environments, including both public and private sectors. In addition, they operate in various industries, such as banking, finance, healthcare, and insurance.
What does a Financial Manager do?
A financial manager’s daily tasks are:
- Reviewing financial reports,
- Monitoring accounts,
- Preparing financial forecasts,
- Investigating ways to improve profitability,
- Analyzing markets for business opportunities, such as expansion, mergers, and acquisitions,
- Ensuring the legal requirements are met,
- Examining financial records and company procedures for ways to cut or maintain expenses.
Chief Financial Officer (CFO)
A CFO performs effective risk management and plans the organization’s financial strategy. These professionals must be well-versed in all aspects of financial management, ranging from simple accounting to broad investment and banking operations. An organization can survive only if it actively investigates and safeguards its finances, so this role is both significant and complex.
What does a CFO do?
A CFO’s duties are:
- Running the company’s financial planning,
- Analyzing the organization’s liabilities and investments by performing risk management,
- Ensuring that the law and the company’s rules are followed,
- Considering cash and liquidity issues while deciding on investment plans,
- Controlling and analyzing the organization’s capital structure and fundraising plans,
- Assuring adequate financial flow for the organization’s operations,
- Supervising and managing all finance personnel (financial controllers, treasurers, financial analysts, etc.),
- Managing vendor relationships,
- Preparing reliable current and forecasting reports,
- Creating and maintaining the company’s financial IT system.
The accounting profession includes many specialties, such as public accounting, managerial accounting, forensic accounting, and auditing. Accounting managers oversee teams of accountants working toward an organization’s financial goals, assigning projects and tasks to accountants within their division. Additionally, they help shape their organization’s accounting policies, priorities, and methods.
What does an Accounting Manager do?
An accounting manager’s responsibilities are:
- Establishing internal controls and guidelines for accounting transactions and budget preparation,
- Overseeing the preparation of business activity reports, financial forecasts, and annual budgets,
- Overseeing the production of periodic financial reports,
- Presenting recommendations to management on short- and long-term financial objectives and policies,
- Providing financial analysis with an emphasis on capital investments, pricing decisions, and contract negotiations,
- Ensuring compliance with local, state, and federal government requirements.
The role of a credit manager, also known as a credit specialist, is to maximize corporate sales while minimizing bad debt by adhering to the credit policy. They do so by evaluating potential clients’ creditworthiness and conducting frequent evaluations of existing customers.
What does a Credit Manager do?
A credit managers job description includes:
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- Researching and evaluating clients’ creditworthiness,
- Creating credit scoring models to predict risks,
- Approving or rejecting loan requests, based on credibility and potential revenues and losses,
- Calculating and set interest rates,
- Negotiating loan terms with clients,
- Monitoring client’s payments,
- Maintaining records of loan applications,
- Following up with clients to manage debt settlements and loan renewals,
- Ensuring all lending procedures comply with regulations,
- Developing, reviewing, and updating our company’s credit policies.
Investment bankers assist their customers in raising capital through the issuance of debt or stock sale in their company. Other activities include aiding clients with mergers and acquisitions and providing advice on unusual investment opportunities like derivatives. At certain companies, bankers wear multiple hats, and at others, personnel is specialized, with different bankers performing specific duties.
What does an Investment Banker do?
An investment banker’s tasks include:
- Creating a variety of financial models for estimating debt and equity.,
- Performing various valuation methods,
- Making product offerings, private equity transactions, mergers and acquisitions, and valuation recommendations,
- Preparing and reviewing materials used in the financing of clients,
- Developing new and maintaining current client relationships to grow the business,
- Performing due diligence, research, analysis, and documentation of live transactions,
- Creating presentations for client portfolios.
Portfolio Compliance Specialist
Portfolio compliance specialists identify potential financial issues and report them to clients or company management. These finance experts analyze account transactions and portfolio holdings for risk and work toward resolving any violations. Ensuring that an organization complies with all accounts and funds is the overall goal of the portfolio compliance specialist.
What does a Portfolio Compliance Specialist do?
A portfolio compliance specialist’s duties include:
- Designing, implementing, and maintaining clients’ portfolio continuously,
- Developing policies and procedures,
- Conducting investment compliance monitoring (ICM),
- Overseeing trading,
- Conducting complete compliance verifications for all accounts and mutual funds,
- Researching potential compliance issues; reporting to management,
- Leading process improvement, scenario analysis, and technology testing.
Wealth Management Consultant
A wealth management consultant identifies and develops new business relationships for the banks, trusts, and investment management organizations. Serving as trusted consultants, they create strategic plans based on their client’s objectives and financial profiles. Although many wealth managers work for financial firms and banks, it’s also common for these professionals to be self-employed.
What does a Wealth Management Consultant do?
The responsibilities of a wealth management consultant include:
- Having in-depth consultations with clients to learn about their financial goals,
- Examining current portfolios and supplementing their results with research on potential investments,
- Developing meeting agendas, presenting plans and reviews, providing regular updates, and responding to queries,
- Delivering a comprehensive strategy that takes into account all aspects of the client’s finances
- setting up investments,
- Monitoring these finances regularly to review performance
As we can see, with a degree in Finance MBA, you will showcase your specific business skills and have a wide range of career options available to you. This degree opens the door to transition into a finance career as well as helps you climb the career ladder to senior positions.