Finance Sector Workplace Learning Report: Trends and Analysis

This report provides a comprehensive analysis of the finance sector's job market, examining current trends and future projections. It identifies key career opportunities, including risk management analyst, financial operation analyst, and financial planner, highlighting their increasing demand and required skills. The report also delves into both paid and unpaid occupations, detailing job descriptions, required education, and income potential. Furthermore, it explores the role of the Australian Red Cross as an example of an unpaid organization, outlining job activities and the benefits of volunteering. The report concludes by analyzing recruitment strategies and the overall contribution of the finance sector to society. It emphasizes the importance of adapting to the ever-changing market conditions and the significance of specialized professionals within the workforce.

Running head: WORKPLACE LEARNING
Workplace Learning
Name of the Student
Name of the University
Author note

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Table of Contents
Introduction......................................................................................................................................2
Examining the job market................................................................................................................2
Five career trends for next five years..........................................................................................2
Which careers are increasing and decreasing..............................................................................2
Recent trends and what are driving these trends.........................................................................4
Examining a paid occupation...........................................................................................................4
Brief description of jobs..............................................................................................................4
Tasks that individuals are likely to undertake.............................................................................5
Required training/ education........................................................................................................5
Income of a fresh graduate..........................................................................................................5
Impact of these jobs in future......................................................................................................6
Contribution of this sector to society...........................................................................................6
Examine an unpaid occupation........................................................................................................6
Description of the organisation and the job.................................................................................6
Activities and tasks for the job....................................................................................................7
Attraction towards this area of volunteering...............................................................................7
Required training or education....................................................................................................7
Potential for paid position............................................................................................................8
Effectiveness of skills acquired for other jobs.............................................................................8

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Contribution of the organisation to the society............................................................................8
Contribution of the organisation to the economy........................................................................9
Examine recruitment........................................................................................................................9
Identifying recruitment competitors............................................................................................9
Trends in recruitment over the next five years............................................................................9
Strategy for gaining employment..............................................................................................10
Conclusion.....................................................................................................................................10
References......................................................................................................................................11

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Introduction
The purpose of this report is to examine the recent trends in the job market of finance
sector and to analyze various factors of it. This report includes various types of finance jobs that
are paid and unpaid and the characteristics of each job are explained in this report.
Examining the job market
As it is a matter of fact that recession and financial crisis has affected the world market
immensely including the finance sector, it should be worthwhile to choose a career path that can
be sustained in the future. In this section the job market o finance sector is analyzed.
Five career trends for next five years
In finance sector there are five most important and lucrative job opportunities for the job
seekers like Risk Management Analyst, Financial Operation analyst, Financial planner,
Corporate Finance analyst and Financial accountant.
Which careers are increasing and decreasing
In this regard it can be said that the requirement of Financial operations analysts are on
the higher end and after completing bachelor’s degree on finance and having a few year’s
experience one can apply for posts like this (Glaeser, Kerr & Kerr, 2015). The major skill that is
needed for this job is to analyze the financial data and experts can perform high and medium
level data analysis for generating reports regarding external and internal operations of a business
organization. the median salary of this kinds of jobs are 71,750 US dollars.
The position of a financial planner in the finance sector is associated with customer
service. A financial planner or a retail banker traditionally works for banks and they provide

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necessary information to the customers regarding financial planning. In the global market the
requirements of individuals in this post is getting increased day by day as the awareness of
people regarding financial issues are rising after experiencing global financial crisis. The median
salary of a retail banker is somewhat 35000 US dollars.
Risk management analyst is a major post in the sector of finance. The significance of
the management of risks in the financial sector is immense and become necessity after the
market crash experienced in the year of 2008. The large financial corporations and banks are
recruiting risk management analysts so that the organizations can adapt to the ever-changing
market conditions and can effectively use complex entity structures in order to protect the
investments (Cecchetti & Kharroubi, 2015). The requirement of risk management analysts are
growing rapidly but equally across the niches like markets, operations and credit. The main job
of the risk analysts is to assess the risks of the potential operational issues, threats from the rival
organizations and the risks to company assets.
There are huge opportunities for the corporate financial analysts as there are presence
of the demands of financial management and finance expertise (Pillinger, 2016). In
contemporary times, there is a major requirement of larger business organizations and banks in
this regard. An individual who has completed bachelor’s degree in commerce and have a MBA
degree can apply for this post.
Lastly, it can be said that demand of financial accountant is immense as it can be said
that the requirement of financial in finance sector is huge because they assess important
documents regarding the financial metrics and other aspects and eventually they summarize the

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reports to the executives and the shareholders of the company. The median salary of the financial
accountants is somewhat 69000 US dollars.
Recent trends and what are driving these trends
The aftermath of global financial crisis has led the business leaders to look into this
sector in order to avoid any kinds of financial crisis in future. It can be said that the global
financial market is ever-changing and any types of disputes in the fundamental planning can
expose the business organizations even the economy of a country to the threat of various types of
financial crisis (Gupta, Kumar & Singh, 2014). That is why the recent trend is to recruit
specialized professionals in specific posts in the workforce. This has enhanced the demands of
certain above mentioned posts in the financial market globally.
Examining a paid occupation
In this section of this report the paid jobs as a paid occupation is examined and discussed.
Brief description of jobs
The major jobs in financial sector are of financial accountants, corporate financial
analysts, risk management analysts, financial planners and post of financial operation analysts. In
this context the role of these designated posts are discussed briefly (Beck, Lu & Yang, 2015).
Financial accountants analyze various aspects of the business organization and assess the
financial documents and provide an accurate report to the executives or the management of the
business organizations.
Corporate Finance analysts analyze the finances of business organizations. to apply for
this post the individuals should have a MBA degree from a reputed University and has to have a

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good knowledge of finance (Stiglitz & Rosengard, 2015). The corporate finance analysts are the
heart of an business organizations and they are significantly helpful in order to avoid any kinds
of financial crisis.
Retail bankers or the financial planners generally work for banks and at times they work
for online banks too. The individuals who work as financial planners they have the duties of
authorizing the loans, setting up accounts in banks, finding good investment plans for the clients
and many more.
The financial analysts analyze the financial data of the business organizations and they
make reports by predicting the external and internal operations of that business organization
(Cournède, Denk & Hoeller, 2015).
Lastly the risk management analysts work for banks or for large business organizations
and they analyze the market conditions and protect their organizations from any financial crisis.
Tasks that individuals are likely to undertake
In this regard it can be said that the jobs that are above mentioned, out of them the jobs of
retail banker and the financial accountants are immensely popular. As requirements of
individuals for these two jobs are immense nowadays and after completing the bachelor’s degree
individuals can apply for these posts.
Required training/ education
To make a career in finance sector, individuals have to have a bachelor’s degree in
commerce background and it would be a major help if the candidates have a MBA degree from
any reputed university (Glaeser, Kerr & Kerr, 2015). To get a good job with higher salaries, a
few years of experience and having a MBA degree is mandatory.

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Income of a fresh graduate
If an individual after completing his graduation takes up a job it is likely that in today’s
world he would be able to draw a salary of 35000 US dollars.
Impact of these jobs in future
The individuals who successfully work as a finance professional in any reputed
organization can easily expect to get more paying jobs in future and there are significatnt growth
opportunities in this sector.
Contribution of this sector to society
It can be said that the contribution of finance sector to society is significant. The finance
sector decides the living standards and well being of the individuals of the country. If a nation’
economy faces threats, it would directly affect the individuals of that particular country. Thus, it
can be said that the finance sector and the individuals who work in finance sector ensures the
living standards of the individuals of that particular sector.
Examine an unpaid occupation
Description of the organisation and the job
The Australian Red Cross is a leading volunteering organisation in the country that
provides services and programmes dealing with international humanitarian law, emergency
management and blood donation and so on. The organisation was established in 1914 and
acquired legal status in June 1941. The mission of the company is to become the leading
humanitarian organisation in Australia (Redcross.org.au, 2018). In this type of organisation, the
job that is expected to be done is managing the accounts. This type of organisations is involved

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with various charitable societies and due to this, it is important to have an accountant managing
the finances of the company.
Activities and tasks for the job
The expected job and activities that are required to be carried out in The Australian Red
Cross include the preparation of assets, liabilities and capital accounts by analysing the account
information. Other tasks include documenting any financial transaction that takes place between
the company and any other charitable societies. According to Coller, Cordero and Echavarren
(2018), analysing the current financial status of the company is also important to predict future
investment plans. The securing of financial information is also required to be done by
completing the database backups.
Attraction towards this area of volunteering
The Australian Red Cross provides support to the people in need of proper care. It has
been seen that during natural calamities many people in the country become homeless and suffer
from injuries. The Australian Red Cross provides care to these people and aims to provide the
best community service as far as possible. Legal migrants from other countries are supported by
the organisation so that they can have a proper life support. Thus, due to these reasons, the
attraction towards this voluntary organisation has increased. The work done by the organisation
helps vulnerable people to stake a claim in the high society by building a life from the ruins of
disasters.
Required training or education
To perform effectively in this profession it is necessary that the individuals need to have
a minimum of bachelor's degree in the accounting field. However, a master's degree in the field

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is always preferable. Apart from this, training an individual need to be aware of the minimum
methods by which community service can be done effectively. This includes leading the people
to respond to the calls for service. Training also needs to be acquired about the ways to manage
accounting software as in the modern day, these works are done using the technology rather than
manual labour (Shoup, 2017). Hence, minimum education and training in the field of job can
help in qualifying for working in this voluntary sector.
Potential for paid position
The paid job needs to be an accountant. The potential of the paid job is such that an
individual can use the experience earned in trying to seek a job in another area of business.
Accountants are in huge demand in the market owing to the large amount finances that are spent
in gaining a competitive advantage. In the case of The Australian Red Cross, such positions need
to be paid so that the employees seeking a job as accountants can remain motivated to work in
the organisation.
Effectiveness of skills acquired for other jobs
The skills acquired from this job can help an individual get better job positions and
payment in other sectors. As stated by Chaneta (2014) every company need to have an
accountant so that it can maintain the financial stability. Thus, individuals seeking a move from
the voluntary organisations to private sectors can gain a major hike in the salary. The skills can
be useful for making a career as a Chartered Accountant in any high profile company.
Contribution of the organisation to the society
The Australian Red Cross provides community service and aids the vulnerable people.
Hence, it can be said that the contribution made by the organisation towards the society is

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valuable. The organising of awareness programmes helps the people of the society understand
the value of life and they remain aware about the things that they need to avoid for leading a
healthy life (Tai & Chuang, 2014). For example, the migrants in Australia are aided in a way so
that they do not feel isolated. They are made to welcome and are provided with the proper
medical attention or service that they require for surviving in the country.
Contribution of the organisation to the economy
It can be said that The Australian Red Cross helps in increasing the economy of
Australian. Although the funds earned by the organisation is largely due to the donations from
the public and corporate partnerships, the contribution they make to the society helps in
increasing the economic condition. As stated by Suliman, Al-Khatib & Thomas (2016), the
donations made by the company for aiding the poor and the deprived people are used to increase
the economy of the country. Hence, it can b said that the corporate social responsibility that an
organisation needs to perform are done efficiently by The Australian Red Cross.
Examine recruitment
Identifying recruitment competitors
In the modern world, every organisation seeks employees that can help them in achieving
success. These employees are recruited with the help of the recruitment agencies that provide
placement to individuals in big companies. Some of the recruitment agencies include SEEK.com,
Adecco, K2 recruitment, Robert Walters recruitment and WISE Employment Australia. These
recruitment agencies compete against one another to improve its profitability by searching and
placing people in jobs of their respective professions.

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Trends in recruitment over the next five years
Given the amount of competition between industries, it is necessary that companies
develop new strategies to improve the recruitment process. Some of the trends that can be
effective over the course of the next five years include hiring an increased volume of people.
This is essential in order to support the growth of the business. Vickers, McDonald & Grimes
(2014) observed that about 56% of recruits are hired for the successful growth of the business.
Apart from this, the other trend in the business includes the conversion rate of the sourcing. This
can help in analysing the efficiency of the recruiters.
Strategy for gaining employment
In order to seek employment in The Australian Red Cross, the target of the recruiters
need to be the voluntary companies. These companies will be chosen based on the current
employee strength and the rate of employee turnover. Before applying for the job, the financial
position and the reputation of the company need to be analysed. To seek employment individuals
can choose from job fairs, referral system and networking. The best method for being recruited
however is networking as it helps to come in direct contact with the organisations.
Conclusion
Hence, it can be concluded that to seek a job in organisations it is necessary for
individuals to identify the current requirements of a company. This can help in pursuing a career
in that particular field and get an effective job. The current trend in the market can help in
gaining education and training that is specific to the requirements. Recruitment trends also need
to be followed so that the recruitment companies can remain updated.