The Future Of Finance Jobs

In the not so long-gone past, many career advisers were advising young people seeking to start out a career to go into finance. The financial markets were doing well then, finance jobs were in plenty and MBA schools were bursting with young students seeking to build a career in finance. And the finance jobs were, of course, not limited to the financial markets. With a strong economy, finance graduates who couldn’t get jobs in the financial markets and investment banks could quite easily be absorbed into commerce and industry accounting jobs. Other would get middle office finance jobs in the public service, and going was good.
Then the bubble burst.

The economy went into recession mode, the financial markets shrunk and finance graduates who had taken up jobs with investment banks found themselves facing the axe, as the investment banks are the worst affected by turmoil in the financial markets. And as if on cue, companies, in a bid to cut costs, were also cutting on their head counts, thus also shaking the fortunes of the finance graduates who found commerce and industry accounting jobs in the private sector. In the midst of all this, it seems that the only secure finance graduates are those who took up middle office finance jobs in the public sector, but even this is not fear-proof for we do not know for sure what the full effects of the economic turmoil will be on civil service staffing.

So in the face of all this, what is the future of finance jobs?
It might seem counter-intuitive to say, but the future of finance jobs is still bright, in spite of the current turmoil in the financial markets. As it were, economists tell us that the current economic turmoil is largely short-term to medium term, which is to say that it won’t be with us forever. Which means that the people who chose to pursue a career in finance need not regret their choice, as better times are coming. But even before the better times arrive, the people with finance backgrounds who are currently getting laid off might not find themselves in the cold for too long.
As governments unveil the various economic stimulus plans, there will be need for people to manage the money as it goes into various sectors which translates to some finance jobs. Of course the finance jobs created in this way will be for the best brains in finance.

And then there is the fact that all companies, like human beings, have a native survival instinct, which they are likely to find handy in these hard economic times. One survival strategies for companies in crises is to hire the experts who are likely to navigate them through the particular crises. And since the current crisis is financial, the companies are likely to find themselves hiring financial experts to help them address the economic crisis. Of course, the companies are not likely to be overtly looking for finance experts to help them address the financial crises. What we are likely to see is an increase in commerce and industry accounting jobs, but the accountants so hired are bound to be almost exclusively tasked with cost and revenue management tasks, geared towards helping their employers sail through the turbulent times successfully.

And finally the good times will surely come back again. If the history of the financial markets is anything to go by, we know that all bursts are always followed by booms.

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How Can You Finance A Mortgage?

Most homeowners purchase their houses through mortgage finance or a loan. There have been many changes in home mortgage financing and loans in the past ten years, bringing many benefits to homebuyers. These changes also bring some significant tradeoffs. The greatest benefit a homeowner received from the changes in mortgage finance is that there are more choices. More choice means a homebuyer can effectively shop around for the best mortgage finance deals and make better decisions.

There are a number of specialized mortgage finance institutions that provide mortgage finance products. Savings and loan mortgage finance institutions are also known as thrift associations, since lenders take the deposits of their customers and use the money to create mortgage finance and loan products. Thrifts declined during the 1980s when interest rates were erratic, and mortgage failures were at an historic highpoint. Thrift institutions were replaced later on by mortgage finance bankers, who originate the mortgage finance product and offer them to investors. In the 1990s, mortgage brokers arrived on the scene. These are freelance mortgage finance agents who handle loans for a number of lenders and sell them to several clients that may include investors or homebuyers. Mortgage brokers remain popular with homebuyers who are looking for mortgage finance advice. Because these brokers have relationships with several lending firms, they represent the best source of mortgage finance advice concerning the current real estate market. Another good source of information for homebuyers who are looking to make a final mortgage decision is the Internet.

The general rule in the 1980s was that only individuals with good credit could obtain a mortgage finance loan. In the current market, nearly anyone can apply for such a loan if they want to buy a house. If you have excellent credit, you will probably find a mortgage finance loan that covers the total purchase price of a home. Having bad credit does not necessarily mean that you will not be able to get a mortgage finance loan, however. It is still possible, but you will pay a higher interest rate. Homebuyers who are getting their first house and how do not yet have a credit rating also have mortgage finance loan options available to them. These loans typically have low down payments and flexible standards defined in the underwriting.

The loan approval process has been made much faster because some of the underwriting has been streamlined. Computers have allowed mortgage finance loan information to be accessed rapidly, In fact, some finance companies offer approvals online or by using computer programs. The concept of credit scores” has also led to a decrease in the number of finance loans that are rejected. Credit scores can offer some relief in usually strict mortgage loan approvals, so applicants have less of a problem.

The modern mortgage finance market has developed a number of new mortgage products as well. When interest rates began to fall, homeowners took advantage of the decreases to refinance their mortgages. In order to reduce the expense of refinancing, lenders than began to offer mortgage finance loans without discount points.

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Master Taking The Affordable Risks To Reduce Or Eliminate The Big Risks

Master Taking The Affordable Risks To Reduce Or Eliminate The Big Risks
By: Ben Needles Home | Business

Almost every successful business model innovator I have studied told me that their company nurtured an environment in which there is great latitude to take small risks on personal initiative, and great care in avoiding big risks that could set the company back. A major benefit of such cultures was to stimulate large amounts of innovation occurring without explicit direction, encouraged by people simply following their curiosity.

You can jump start the process of business model innovation by stimulating curiosity. As helpful as that jump start approach is for making progress and providing perspective, you want to make your organizations continuing focus on business model innovation as natural and free-flowing as possible. Encouraging affordable risks that reduce or eliminate big risks is essential to that transition toward enjoying the rewards of everyday business model innovation.

Lets look at how this shift in risk-taking perspective has been created by business model innovators:

(1) Each company seemed to have identified its biggest risks as the first step. Heres how they usually did it.

(a) Start by mentally doubling or tripling your sales while increasing your profits more rapidly.

(b) Then, ask yourself what the company would have to succeed at doing in order to reach those higher levels of performance. In most cases, new products and services will be part of the picture. In many circumstances, achieving a much higher level of performance along some dimensions for customers will be part of the opportunity. Combining these new activities in ways that build on the companys effectiveness, with little likelihood of detracting from it, seems to be important.

(c) Next, ask what risks could cause poor performance in accomplishing those key tasks. In doing this thinking, start from the customers perspective rather than a financial viewpoint or spreadsheet.

What you may find is that the customer has problems that arent being addressed. For example, Allmerica Financial had been a traditional full-line mutual insurance company based on Worcester, Massachusetts. When John F. OBrien arrived from Fidelity Investments in 1989, he saw that the companys customer-owners werent getting the best deal.

The company refocused itself on providing equity-based insurance products, operating more efficiently, and demutualizing the company. While that focus initially meant helping build retirement stakes for variable annuity owners, the vision behind the change has led the company today to explore how to become a superb low-investment risk resource as retiring Baby Boomers start to spend their savings in retirement.

In the case of Allmerica, the company initially lacked the skills, cost-base, and licensing to pursue what customers needed most. The gap was so wide that the company did not attempt to plan where it wanted to go initially.

Instead, it began by reducing the biggest risks (such as providing obsolete services with high cost structures) while encouraging skill development and innovation (to get experience with call center management necessary for equity-based financial products, for example, Allmerica began by providing the 800 number call center service for 1-800-FLOWERS for a time).

(2) Invariably, the second step (often almost simultaneous with the first) was to examine how to instill more, faster, more focused, and better innovation and decision-making in the company. Often, this direction dovetailed nicely with an observed need for more innovation. The primary reason that most big companies grow slowly is too little experimentation with new ideas. Experts, such as Gary Hamel in Leading the Revolution, argue that every successful innovation begins with 1000 ideas, which are turned into 100 innovation proposals, that become 10 tests, which should yield one implemented success.

By contrast, many companies try to get one innovation out of one idea. While theres a slim chance that approach will work, its highly unlikely. The best way to get more innovations is to be sure that there are lots of ideas in the pipeline and that low risk and low cost ideas proceed rapidly towards experimentation and testing. Top managements job is to enable and encourage this kind of more wide-open experimentation to become natural and easily lead to the next step in turning the successful experiments into reality.

A good example of this approach is to tell people who work in the company that they will be evaluated in part on the ideas they generate and appropriately develop and test. The measurement will be on the appropriateness of their activity, rather than the ultimate success of their efforts.

(3) A typical final step was locating what low cost and low risk activities would reduce or eliminate the big, unaffordable risks. For example, if part of the company was not profitable enough and losses could snowball, what did the companys choices look like for improving that area short of shutting down or selling the operation?

Almost every successful line of work model innovator I have deliberate told me that their company nurtured an surround in which there is great latitude to take small risks on personal initiative, and great care in avoiding big risks that could set the ship’s company back. A major benefit of such cultures was to make large amounts of innovation occurring without expressed direction, encouraged by people simply following their curiosity.

You can jump start the sue of business organization model excogitation by stimulating curiosity. As helpful as that jump start glide path is for making come along and providing perspective, you want to make your organizations continuing focus on business model origination as cancel and free-flowing as possible. Encouraging affordable risks that reduce or eliminate big risks is all-important(a) to that conversion toward enjoying the rewards of everyday business model innovation.

Lets look at how this shift in risk-taking view has been created by business model innovators:

(1) Each accompany seemed to have identified its biggest risks as the first step. Heres how they unremarkably did it.

(a) Start by mentally doubling or tripling your sales while increasing your profit more rapidly.

(b) Then, ask yourself what the company would have to succeed at doing in order to reach those higher levels of performance. In most cases, new products and services will be part of the picture. In many circumstances, achieving a much higher level of performance along some dimensions for customers will be part of the opportunity. Combining these new activities in ways that build on the companys effectiveness, with petty likelihood of detracting from it, seems to be important.

(c) Next, ask what risks could cause poor performance in accomplishing those key tasks. In doing this thinking, start from the customers perspective rather than a fiscal viewpoint or spreadsheet.

What you may find is that the customer has problems that arent being addressed. For example, Allmerica Financial had been a traditional full-line mutual insurance company based on Worcester, Massachusetts. When John F. OBrien arrived from Fidelity Investments in 1989, he saw that the companys customer-owners werent getting the best deal.

The company refocused itself on providing equity-based insurance products, operating more efficiently, and demutualizing the company. While that focus at first meant portion build retirement stake for variable annuity owners, the vision behind the change has led the caller today to explore how to get a superb low-investment risk resource as retiring Baby Boomers start to spend their nest egg in retirement.

In the case of Allmerica, the company initially lacked the skills, cost-base, and licensing to pursue what customers needed most. The gap was so wide that the keep company did not attempt to plan where it cherished to go initially.

Instead, it began by reducing the greatest risks (such as providing obsolete services with high cost structures) while encouraging skill development and institution (to get experience with call center management necessary for equity-based financial products, for example, Allmerica began by providing the 800 number call center service for 1-800-FLOWERS for a time).

(2) Invariably, the second step (often almost simultaneous with the first) was to examine how to instill more, faster, more focused, and better innovation and decision-making in the company. Often, this instruction dovetailed nicely with an observed need for more innovation. The elementary reason that most big companies grow slowly is too lilliputian experiment with new ideas. Experts, such as Gary Hamel in Leading the Revolution, argue that every successful innovation begins with 1000 ideas, which are turned into 100 foundation proposals, that become 10 tests, which should yield one implemented success.

By contrast, many companies try to get one conception out of one idea. While theres a slim chance that approach will work, its highly unlikely. The best way to get more innovations is to be sure that there are lots of ideas in the pipeline and that low risk and low cost ideas move rapidly towards experimentation and testing. Top managements job is to enable and further this kind of more wide-open experimentation to become natural and well lead to the next step in turning the successful experiments into reality.

A good example of this approach is to tell people who work in the company that they will be evaluated in part on the ideas they yield and appropriately develop and test. The measure will be on the appropriateness of their activity, rather than the ultimate success of their efforts.

(3) A distinctive final step was localization what low cost and low risk activities would reduce or eliminate the big, unaffordable risks. For example, if part of the company was not profitable plenty and losings could snowball, what did the companys choices look like for improving that area short of shutting down or marketing the operation?

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Where To Get Your Online Finance Degree

An online finance degree is a wonderful option for individuals who want to go to college, but for whatever reason prefer an online forum as opposed to a traditional classroom. Frequently, those who opt for an online finance degree have busy schedules already because of family and work commitments, and juggling a typical class schedule is nearly impossible. Also, individuals who have disabilities often times opt for an online finance degree simply because it is easier to work straight from home. No matter why you want an online finance degree, there are many options out there for you to choose from.

The online finance degree is a very popular major, and because of this almost all of the online universities offer the online finance degree. In addition to this, the online finance degree is not only available in bachelors, but also in masters and in some cases PhD. So, no matter if you want just a bachelor’s online finance degree or want to get an online finance degree at ever level, the choice is totally yours.

Paying for your online finance degree is not as difficult as it ahs been in the past, either, because now you can get student loans and choose different payment plans for your online finance degree. Paying for your online finance degree has never been easier.

In addition to this, you will need to decide exactly what you are looking for in the university where you will obtain your online finance degree. The reason for this is because there are so many online university options that range in popularity, accreditation and cost, that you will need to find out which ones offer the best online finance degree for your budget.

Be sure, however, before you begin studying for your online finance degree that you know your university is accredited and has many successful graduates with their online finance degree.

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