Practice: The next move to financial services

Recently received your FAE results and have finished your training contract? Now is the time to ask yourself the question, where to next?

I would strongly advise you to think this through and make the right decision for your own career path. Don’t focus on the long-term, look at it from another angle; what will offer you the most from a learning and development perspective and open your career path to an abundance of opportunities down the line?

Below, are examples of positions that will increase your knowledge and assist you in making the right decision going forward.

Financial reporting 

A position in financial reporting gives you the opportunity to gain a thorough understanding of financial reporting standards that are being used today. Although it is not possible to memorize all reporting standards, it is an advantage to be up-to-date on the latest changes.

For example, recently qualified accountants will be aware of the change of Irish GAAP (FRS101) to FRS 102 as well as gaining exposure to IFRS. IFRS is seen as the international accounting language, knowledge that can be transferred to international opportunities. A position as a financial reporting accountant whether it be permanent or contract, could be exactly what you need to bring your experience up to the competitive international level. 

Internal audit

Not sure where you want to move to next?

Then internal audit could be the position just for you. It opens your career path up to an array of opportunities, as you are constantly building on experience that can be transferred to new positions along the way. Each audit essentially is a mini project and at the core requires project management skills. It also offers the opportunity to continuously develop and grow your skill-set.

Each audit has different requirements from the previous and the opportunity to travel as part of your position will give you the chance to learn about international business culture and needs. Throughout all aspects of the audit process, you are liaising and building relationships with senior members of the business which also helps you build your internal profile as well as opening the window to internal movements to new areas of the business. 

Aircraft leasing 

Aircraft leasing is one of the most sought-after sectors for recently qualified accountants coming from financial services audit; but unless you have experience dealing with lessors, do you really have the sufficient experience to break into such a competitive market?

If aircraft leasing is where you see yourself then you need to ask what experience you need to gain that can be transferred to a qualified position in aircraft leasing? Focus on client accounting positions where you will be guaranteed exposure to aircraft leasing. That way you can use your experience to date from practice while adding to your skill-set by getting a thorough understanding of the aircraft leasing sector. 

For any more information regarding accounting positions within financial services, then please call or email me.

Gerald FitzGerald's picture
Chief Operations Officer Ireland


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