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Companies are specifically looking for CPAs with FAS 141 and 142 expertise, according to Richelle Konian, co-founder and chief executive of Careers on the Move, a New York-based executive placement firm. “They want accountants with experience working on solvency issues, offering fairness opinions, or working in valuing tangible assets,” she says.
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Konian says CPAs in this area of accounting should consider obtaining their CFA and ASA designations. She predicts that the New York and New Jersey region will stay hot in this area for some time to come.
Published on: 6/14/2006 Last Visited: 5/22/2007 According to Richelle Konian, co-owner of New York City-based Careers on the Move, an executive recruiting firm focused on the finance field, many professionals are simply missing the right opportunity by not specializing in one sector or another.” At the moment, half of our positions are in specific areas, including risk management or (fixed income or credit) derivatives,” she says. ”That’s about 50 percent or more of our positions. It’s still hard to get positions in asset management.”
To understand what specialties are in demand and what areas of the country are particularly receptive “to someone with your background,” Konian says “it’s essential to stay abreast of the marketplace.” You might find out there are simply too many people with the right credentials vying for the same position in your state. ” If someone advertises now for a financial analyst, you might see hundreds of resumes from qualified individuals,” she notes.
Probably the biggest failure most professionals make is not keeping their appearance, education or networking skills up-to-date. When they’re busy and times are good, people often let such tasks go, Konian says.
By Myra A. Thomas
Tip #3: Get Off the Floor.
You can capitalize on specialties to get out of trading. Richelle Konian, chief executive and co-founder of Careers On The Move, an executive recruiter based in New York City, has placed a number of traders looking for opportunities related to – but not directly in – the financial services space. “With their knowledge, understanding trades and having a specialty in derivatives, they can go to the software-vendor side and serve as an advisor…. Those familiar with fixed-income products, for instance, could be on the options or derivatives side, and they understand the algorithms and the financial modeling, acting as a great resource on the vendor side.”
For now and for some time to come, risk management software needs will remain high for most firms, particularly on the credit derivatives side of the business.
