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Employer Quotes
The quotes below are from employers in this industry: Financial Services
They are talking about this topic: General Skills
The quotes below are about this issue:
Employers are looking for accounting candidates who have the ability to understand the full process of accounting systems and provide oversight.
| "Employer: I think the other challenge we have is that a lot of knowledge is being captured within controls that are built into programs that people use. A smaller organization like us, we will outsource to larger providers. The challenge that I see happening in the future is that we can delegate activity but we can't delegate the overall responsibility for oversight and accuracy. It takes a lot of experience that you have to keep within the organizations to make sure your third-party provider is doing what you've contracted them to do. So, as the baby boomers start retiring, you end up with this gap. You end up with 25 years' worth of experience leaving the organization. And you've only been hiring entry-level people that don't get the ability to experience a certain process from the ground level all the way through the management. So, we find gaps that people aren't even aware of. Fiduciary principles and income accounting—whether it's on the sales side or the relationship management side or whether it's in a middle-office environment—they just know the accounting system. I use codes and it just comes out correctly on reporting. But they don't have a clue for the controls that are built into the programs. So knowledge accumulated throughout the years, whether it's regulatory or other controls that used to be done manually, people just rely on computer systems and assume that they're... Interviewer: And they don't know what's inside? Employer: It's hard to fill that gap when people who understand the organization from a larger perspective leave. They don't rely completely on what the output of a computer is." |
Central |
| "As we become more technologically advanced in our industry, you still have to know how to get there. You still have to be able to explain to the customer how they got there, what things mean, and how to calculate all of the different processes. I think that's an opportunity as we continue to grow and become more technologically advanced." | Central |
| "They can't apply reasonableness tests or the smell tests. I think maybe the difference between our day-to-day experience is that I work more with middle-office and back-office folks versus front-office, client-facing type positions. I think that's maybe why I experience more of that. It's just the jobs require a little more analysis of data." | Central |
| "Everything's become so advanced and technological. They sometimes don't understand the basic concept of how it's happening. And if there's any step in there that's missed, they have no clue where to start." | Central |