Tag: banking

The interesting life of an investment banking analyst

I’m Steve Sorensen, CPA from Colorado and I love talking about finance and banking. I love giving advice and sharing what I’ve learned with anyone interested.

Last weekend, I went out with an old friend of mine who used to live in Colorado, but is now based in Michigan. She works as an investment banking analyst, and she shared with me what her professional life was like.

Investment banking analysts also dispense both financial and strategic advice to people in the private sector, corporations, and government institutions. My friend mentioned just how she got to where she was, starting as a rookie analyst. She went into investment banking to learn the ins and outs, and processes. She began learning how to do financial analysis, draft memorandums and spreadsheets (and spreadsheet models). If that sounds like a lot of work, it’s because it is.

After four years, she gained enough experience to throw her name in the hat for the vacant investment banking analyst job at her company. She got it. This was three years ago. She started by helping clients develop the right investments based on who the client was and what the client needed.

After her first year, she started reviewing client portfolios, picking investments that were profitable and ones that had to be let go or worked on.

Today, she’s learning how to look at investment options and sound opportunities for various types of clients. In a few months, she expects to handle debt insurance and stock of some clients, while studying the mechanics of mergers and acquisitions.

It all sounds good, and as long as you put in the hard work, she says, it can be a very lucrative job. I believe her.

This is Steve Sorensen, signing off.

Steve Sorensen from Colorado is a Certified Public Accountant who gives financial advice to clients both in the public and private sectors, including issues such as embezzlement. Head over to this page for more updates.


Trends in digital banking fast shaping 2019

Image source: semrush.com

The financial industry should undergo even more transformation due to developments in digital technologies, particularly the rise of AI and chatbots, Big Data analytics, and personalized services. With increased merchant expectations, the banking industry will become even more competitive; both credit unions and banks must keep customer service at the forefront of operations this 2019.

While the past years have seen third-party service providers thriving in terms of money and payment movement like P2P, big financial institutions will wrest back control with more modernized, digital banking platforms. The same will be true for local banks, which will realize that it’s not necessarily other community banks that are driving the competition but non-traditional and bigger financiers. The new approach will be driven by more sustainable strategies, which equate to replacing or updating legacy mobile and online products and services.

Image source: pymnts.com

Acquiring complete digital ownership will be the goal for many banks and credit unions, given that physical branches are starting to become less popular than online or digital channels. So, aside from the traditional branch managers, more and more financial institutions will assign top-level digital leaders whose main work will be to provide a clear-cut, defined digital roadmap.

All in all, 2019 is the year financial institutions will work on much-improved consumer experience and regaining their digital platforms. Expect personalization and AI to figure more into the various platforms of digital banking.

Hello, there. My name is Steve Sorensen, and I’m a certified public accountant and business writer from Colorado. I consult for business finance and investment, banking, and also on issues involving employee embezzlement. Visit this link to know more about me and my work.