Financial Services
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Security a Concern For Accountants Working Remotely
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As the coronavirus continues to spread, a growing number of companies are telling employees to work from home.
While it is one way to avoid exposure to the virus, remote work presents a unique set of problems for companies unprepared to conduct business entirely or even partially over the internet. Besides the potential for overtaxing in-house systems and inadequate connectivity at home, cybersecurity concerns present an even greater concern. With ...
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How to Build a Resume For a Career In Banking
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Across the nation, accounting, finance and business majors are locking in this summer’s internships. Some were lucky enough to accept offers in the fall. Most are doing that now.
There’s one group, however, that is looking ahead to summer 2021. Those are the undergrads intent on a career in investment banking, where internship recruiting by many of the largest banks and firms starts earlier than almost any other industry sector. ...
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Banks Struggle to Contain Expenses In Face of Wage Growth
Read the rest of this entry »Squeezed by low interest, constrained by competition from raising prices and facing shareholder pressure to improve returns, the banking industry is struggling to control costs while labor shortages and public sentiment is pushing for higher wages.
American Banker says the $56.7 billion banks spent on salary and benefits in Q3 last year was 18.4% higher than in 2014.
Those expenses are expected to rise even more this year, as industry ...
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Are Boomers Banking's Next Gen Customers?
Read the rest of this entry »With Gen Z -- that generation born after the mid-1990s -- beginning to earn their first paychecks, the establishment banking industry is rushing to sign them up and capture their loyalty before they decide to go with a fintech startup.
"Financial marketers must reach out to this generation right now or their window of opportunity may slam shut forever," cautions The Financial Brand's Executive Editor Steve Cocheo.
The dire warning ...
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Fintech: Banking's Friend and Foe In 2020
Read the rest of this entry »What American Banker sees as the tech challenges of banks in 2020 can be summed up in one word: frenemy. From fintech collaboration to "Big Tech" competition, the financial services sector will struggle with the challenges these digital banking startups pose.
"As a new decade begins, one of the major unresolved issues of the previous few years continues to haunt banks — when and how Big Tech will jump into ...
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Accounting Firms Should Hire Differently In 2020
Read the rest of this entry »As the saying goes, "Every obstacle is an opportunity in disguise," and that's just how CPATrendlines described a look ahead at the challenges CPAs will face next year.
Headlined "2020 Outlook: Top 5 Emerging Risks for CPAs," the article carries a subhead that declares them to also be, "The top five emerging opportunities, if you handle them right."
Written by an EVP at Aon, the article hits on the risks ...
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Banking's Parties Just Aren't So Much Fun Anymore
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End of the year bank parties just aren't what they used to.
From flowing Dom Perignon bashes that lasted well into the night, today's affairs end by 10, bemoans an anonymous senior banker. "Just like the share prices of most European banks, Christmas parties have fallen off a cliff," says the pseudonymous Peter Flower.
"What used to be extremely fun events, that brought people closer to their clients and managers ...
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Think Twice Before Turning Down a Banking Job
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If you're eager for a job in finance, now might not be the time to be picky.
Despite what you've heard about this being a job hunter's market (true enough), the banking industry may soon be tightening its hiring. eFinancialCareers editor Sarah Butcher advises, " Next time you receive an offer for a new banking job, even if it's not exactly the sort of thing you had in mind, you ...
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Will Machines Take Over Wall Street?
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"Machines are taking control of investing - not just the humdrum buying and selling of securities, but also the commanding heights of monitoring the economy and allocating capital."
That's how The Economist begins it's cover story on the increasingly important role of artificial intelligence in the world's financial markets. It's a sober examination of how machines have evolved from acting on orders set by traders to analyzing more social and ...
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Pay Is Banking's Biggest Recruiting Challenge
Read the rest of this entry »Banks are having a difficult time attracting and keeping younger workers, yet close to three-quarters of them have no strategy for recruiting them.
That's one of the key findings of this year's Bank Compensation and Benefits Survey from the accounting and consulting firm Crowe Global. Of the 778 financial institutions taking part in the survey, 56% admitted retaining younger workers was at least somewhat challenging. But only 14% said they ...
