Finance and Accounting Internships: Job Description

Money is the lifeblood of any business, thus the management of money or finance is a very important aspect of any company. It is an extremely dynamic field, especially with how globalization has transformed this industry. With the high stakes, it is considered by many as one of the hardest industry to break into. Therefore, finance and accounting internships, especially if it is an international one, play a significant role to ensure that you will have the leg up in this industry. If you want to have a finance and accounting internships, first you need to understand the many possible job description.

1.     Financial Analyst

As a financial analyst, you will be responsible for monitoring financial trend. You will be involved in gathering and analyzing data about the market condition. Then, with these data, you will help determine market trend and recommend the best possible action for the company. Possible job description for a finance internship in this field might look like this:

  • Collect operational and market data for financial analysis
  • Compare financial data with forecasts and plans to determine current financial condition
  • Identify trends and variances from the data
  • Deliver a unique recommendation to ensure cost and operational efficiency
  • Compile a comprehensive report of results and recommendation to be proposed to the management

2.      Accounting

Accounting is one of the most important role in financial industry, as all companies need an accounting department. The accountants are the one responsible for the bookkeeping of all of the company’s transactions and preparing a financial reports at the end of a term. You might be involved with helping a variety of departments like the account payables, account receivables, budgeting, bill payment, payroll and financial statements. Possible job description for a finance and accounting internship in this field might look like this:

  • Assist in the posting of daily journal entries
  • Help with preparation of the periodical financial reports
  • Help in the reconciliation of account receivables and payables, banks, bill payments or inventories
  • Help with the forecasting and budgeting to manage expenses

3.    Auditing

As the Audit intern, you will monitor the work of various business units and deliver report on their effectiveness. You will basically be the checker of their work to make sure that they are meeting the standard. This department in important to make sure that the company can minimize the risk and maximize the effectiveness of their processes by pointing out aspects that the business units can improve. Possible job description for a finance and accounting internship in this field might look like this:

  • Apply auditing technique to help review the performance of certain business units.

·       Document the processes and key controls used during the auditing process

·       Report the finding and present them to the management

·       Develop possible recommendation to deal with the findings

4.    Retail Banking

An internship in retail banks is one of the most common choice in finance. This field is highly focused on customers and the management of their money. Basically, you will be dealing face-to-face with customers a lot to help them handle their cash, from wealth management to mortgage or loan applications. Possible job description for a finance and accounting internship in this field might look like this:

  • Support in the financial products design by bringing new ideas and market research
  • Provide financial services to customer by helping them choose the right financial products
  • Help in the financial condition assessment of loan applications
  • Assist in the promotions of the bank’s services
  • Handle customers’ complaints

5.    Investment Banking and Securities

If you are interested in the valuation of companies in the event of mergers and acquisitions or raising capital, this will be the field where you can learn the most. You will generally work as the analyst to support the senior bankers during the internship, so you must make sure that you have the necessary capabilities. Possible job description for a finance and accounting internship in this field might look like this:

  • Assist in the industries and companies research
  • Analyze the stock market trends
  • Create a financial model and valuation to be presented to the clients
  • Help in arranging meetings and presentations, including writing the minute of the meeting

With finance and accounting internships abroad, you will be able to gain knowledge about the working of the global financial system. This skill will be extremely valuable to start your future international career.  If you are interested in a finance internship, we can help you secure a position. Just contact us!