Financial Records Specialist in Nevada Career Overview

As a Financial Records Specialist, you play a vital role in managing financial documentation for organizations. Your focus is on maintaining and organizing financial records, ensuring accuracy and compliance with regulations. This role supports various sectors, including healthcare, finance, retail, and government, reflecting its versatility in the job market.

Key responsibilities often include:

  • Record Management: You systematically organize and maintain financial documents, such as invoices, receipts, and transaction records.
  • Data Entry: Accuracy in entering and updating financial data is essential to mitigate errors in financial reporting.
  • Reporting: You may be tasked with generating financial reports, which provide insights into an organization's financial performance and aid in decision-making.
  • Regulatory Compliance: Ensuring that financial records adhere to applicable laws and standards is a critical part of your responsibilities, helping to safeguard the organization from legal issues.
  • Collaboration: You often work closely with accountants, auditors, and other financial professionals, providing necessary information and support for various financial operations.

The role of a Financial Records Specialist is essential for the smooth functioning of financial processes within an organization. By ensuring that financial records are accurate, well-organized, and accessible, you help your employer maintain financial integrity, support effective decision-making, and foster a responsible financial culture. In a rapidly changing financial landscape, your attention to detail and organizational skills contribute significantly to the success of your organization.

Financial Records Specialist Salary in Nevada

Annual Median: $47,580
Hourly Median: $22.87

Data sourced from Career One Stop, provided by the BLS Occupational Employment and Wage Statistics wage estimates.

Required Education To Become a Financial Records Specialist in Nevada

To become a Financial Records Specialist, you will need a foundation in relevant education and training. The following degree programs are beneficial in preparing you for this career path:

  • Accounting: A degree in accounting provides you with essential knowledge in financial reporting, taxation, and audit processes. This program typically covers topics such as bookkeeping, financial statement analysis, and accounting principles.

  • Accounting Technology and Bookkeeping: This program focuses on the practical applications of accounting and the use of technology in financial record-keeping. You will learn about various accounting software tools and techniques for maintaining accurate financial records.

  • Auditing: Pursuing a degree in auditing equips you with specific skills related to reviewing financial statements and ensuring compliance with regulatory standards. This education will enhance your understanding of internal controls and risk management related to financial reporting.

  • Business Administration and Management: A degree in this field provides a broad understanding of business operations, including finance, supply chain management, and human resources. It may cover relevant subjects such as financial management and organizational behavior, helping you apply financial principles within a business context.

  • Finance: A finance degree emphasizes the management and analysis of money, investments, and financial systems. You will gain insights into financial planning, investment strategies, and risk assessment, all of which are integral to the role of a Financial Records Specialist.

In addition to formal education, you may consider gaining experience through internships or practical training programs that offer real-world exposure to financial record management. Certifications in accounting software or financial management systems can further enhance your qualifications.

Best Schools to become a Financial Records Specialist in Nevada 2024

#1Maricopa County

University of Phoenix-Arizona

Phoenix, AZ

In-State Tuition:$9,552
Out-of-State Tuition:$9,552
Admission Rate:N/A
Graduation Rate:18%
Total Enrollment:88,891
#2Merrimack County

Southern New Hampshire University

Manchester, NH

In-State Tuition:$15,000
Out-of-State Tuition:$15,000
Admission Rate:96%
Graduation Rate:41%
Total Enrollment:164,091
#3Salt Lake County

Western Governors University

Salt Lake City, UT

In-State Tuition:$7,404
Out-of-State Tuition:$7,404
Admission Rate:N/A
Graduation Rate:49%
Total Enrollment:156,935
#4El Paso County

Colorado Technical University-Colorado Springs

Colorado Springs, CO

In-State Tuition:$12,036
Out-of-State Tuition:$12,036
Admission Rate:N/A
Graduation Rate:20%
Total Enrollment:24,808
#5Maricopa County

Grand Canyon University

Phoenix, AZ

In-State Tuition:$16,407
Out-of-State Tuition:$16,407
Admission Rate:78%
Graduation Rate:45%
Total Enrollment:101,816
#6Lynchburg City

Liberty University

Lynchburg, VA

In-State Tuition:$15,467
Out-of-State Tuition:$15,467
Admission Rate:99%
Graduation Rate:66%
Total Enrollment:96,709
Financial Records Specialist Job Description:
  • Compute, classify, and record numerical data to keep financial records complete.
  • Perform any combination of routine calculating, posting, and verifying duties to obtain primary financial data for use in maintaining accounting records.
  • May also check the accuracy of figures, calculations, and postings pertaining to business transactions recorded by other workers.

Financial Records Specialist Required Skills and Competencies in Nevada

  • Attention to Detail: You must maintain accuracy in financial records, ensuring every entry is correct and compliant with regulations.

  • Organizational Skills: You should effectively manage large volumes of data and prioritize tasks to maintain efficient records management.

  • Analytical Skills: You need to analyze financial data and identify discrepancies or trends to support financial decision-making.

  • Technical Proficiency: You should be familiar with accounting software and financial management systems, using them efficiently to maintain records.

  • Numerical Proficiency: You must possess strong mathematical skills to perform calculations and verify financial data quickly and accurately.

  • Communication Skills: You need to communicate clearly with team members and stakeholders, providing insights and explanations regarding financial records.

  • Problem-Solving Skills: You should be capable of identifying issues within financial records and proposing effective solutions.

  • Time Management: You must effectively manage your time to meet deadlines, especially during peak financial reporting periods.

  • Knowledge of Regulations: You need to understand relevant financial regulations and compliance standards to ensure adherence in your record-keeping practices.

  • Interpersonal Skills: You should work collaboratively with other departments, contributing to a cohesive environment for financial management.

Job Duties for Financial Records Specialists

  • Check figures, postings, and documents for correct entry, mathematical accuracy, and proper codes.

  • Comply with federal, state, and company policies, procedures, and regulations.

  • Operate computers programmed with accounting software to record, store, and analyze information.

Technologies and Skills Used by Financial Records Specialists

Accounting software

  • Intuit QuickBooks
  • Sage 50 Accounting

Cloud-based data access and sharing software

  • Dropbox
  • Microsoft SharePoint

Enterprise resource planning ERP software

  • Microsoft Dynamics
  • SAP software

Basic Skills

  • Listening to others, not interrupting, and asking good questions
  • Using math to solve problems

Problem Solving

  • Noticing a problem and figuring out the best way to solve it

Job Market and Opportunities for Financial Records Specialist in Nevada

The job market for Financial Records Specialists in Nevada is currently experiencing positive momentum, driven by an array of factors that contribute to both demand and growth potential within the field. Here are key aspects to consider:

  • Demand for Financial Records Specialists: Businesses across various sectors require skilled professionals to manage, maintain, and organize financial records. The continuous evolution of compliance regulations and the need for accurate financial reporting contribute to a sustained demand for these specialists.

  • Growth Potential: The financial services industry is projected to grow in Nevada, partly fueled by the state’s expanding economy. As more companies establish operations in Nevada, especially in industries like gaming, tourism, and technology, the need for Financial Records Specialists is expected to increase.

  • Geographical Hotspots:

    • Las Vegas: As the state’s economic hub, Las Vegas offers a multitude of opportunities in finance and accounting roles. The hospitality and entertainment sectors create a consistent requirement for financial management.
    • Reno: This region is also experiencing growth, particularly with the influx of tech companies and startups, leading to increased demand for financial expertise.
    • Carson City: The state capital hosts various government agencies and non-profit organizations, which necessitate efficient financial record-keeping and management.

  • Industry Diversity: Beyond traditional financial institutions, industries such as healthcare, real estate, and manufacturing in Nevada are expanding. This diversity provides many avenues for Financial Records Specialists to find fulfilling opportunities tailored to their interests.

  • Networking and Professional Associations: Engaging with local organizations and attending industry-related events in Nevada can enhance opportunities in this field. Networking is vital for uncovering job openings and learning about trends affecting the financial landscape.

By focusing on these aspects, you can better navigate the job market for Financial Records Specialists in Nevada and position yourself for success in this evolving landscape.

Top Related Careers to Financial Records Specialist 2024

Ledger Verification Clerk
Payroll Processing Clerk
Billing and Invoicing Specialist
Financial Data Entry Clerk

Additional Resources To Help You Become a Financial Records Specialist in Nevada

  • U.S. Bureau of Labor Statistics (BLS)
    Access essential labor market information, including job outlook, salary data, and job responsibilities for Financial Records Specialists.
    BLS Financial Clerks

  • National Association of Accounting Professionals (NAAP)
    A professional organization offering resources such as webinars, conferences, and certification opportunities relevant to accounting and financial records management.
    NAAP

  • American Institute of Professional Bookkeepers (AIPB)
    Provides information about professional standards, resources for continuing education, and opportunities for certification as a bookkeeper, which is valuable for financial records specialists.
    AIPB

  • National Association of Secretaries of State (NASS)
    For those interested in the regulatory aspect of financial recordkeeping, this organization provides access to various state-level resources and guidelines.
    NASS

  • Institute of Management Accountants (IMA)
    Offers resources on financial management, including articles, certifications (like CMA), and networking opportunities that benefit those in financial recordkeeping and analysis.
    IMA

  • Nevada Department of Business and Industry
    State-specific resources regarding business regulations, including recordkeeping standards and financial compliance.
    Nevada Business and Industry

  • American Institute of Certified Public Accountants (AICPA)
    The AICPA provides standards, research, and tools specific to accounting and financial practices that may aid in your role as a Financial Records Specialist.
    AICPA

  • Coursera
    Online courses that focus on financial accounting, bookkeeping, and recordkeeping practices which can enhance your professional skills.
    Coursera Accounting Courses

  • LinkedIn Learning
    Offers a variety of video courses that cover topics in finance, accounting software, and best practices for managing financial records.
    LinkedIn Learning

  • AccountingCoach
    A free resource providing a wealth of information on accounting principles, definitions, and practical applications useful for financial record specialists.
    AccountingCoach

By utilizing these resources, you will deepen your understanding of financial recordkeeping and enhance your qualifications as a Financial Records Specialist in Nevada.

Frequently Asked Questions (FAQs) About Financial Records Specialist in Nevada

  • What does a Financial Records Specialist do?
    A Financial Records Specialist manages and maintains financial records, ensuring accuracy and compliance with regulations. Their tasks often include data entry, reconciling accounts, preparing reports, and assisting with audits.

  • What qualifications are required for this position?
    Generally, a high school diploma or equivalent is required, though an Associate’s or Bachelor’s degree in finance, accounting, or a related field is often preferred. Relevant certifications, such as Certified Bookkeeper or Certified Payroll Professional, can also enhance job prospects.

  • What skills are important for a Financial Records Specialist?
    Key skills include attention to detail, strong analytical abilities, proficiency in accounting software, good organizational skills, and effective communication. Also, familiarity with financial regulations and procedures is beneficial.

  • What industries employ Financial Records Specialists?
    Financial Records Specialists can be found in various sectors, including accounting firms, government agencies, healthcare organizations, educational institutions, and corporate finance departments.

  • What is the typical salary for a Financial Records Specialist in Nevada?
    Salaries can vary based on experience, location, and the specific industry. As of recent data, the average salary ranges from $40,000 to $60,000 per year. Entry-level positions may start lower, while those with significant experience can earn higher wages.

  • What are the opportunities for advancement in this career?
    Advancement opportunities include moving into senior accounting roles, financial analyst positions, or managerial positions such as Accounting Manager or Finance Director, especially with additional education or certifications.

  • Is certification necessary for a Financial Records Specialist?
    Certification is not mandatory but can enhance your qualifications and marketability. Consider pursuing certifications like the Certified Bookkeeper (CB) or Certified Payroll Professional (CPP) to improve your prospects.

  • What software should a Financial Records Specialist be familiar with?
    Knowledge of accounting software such as QuickBooks, Sage, or FreshBooks can be beneficial. Familiarity with spreadsheets (e.g., Microsoft Excel) and database management systems is also important.

  • What are the typical working conditions for a Financial Records Specialist?
    Most Financial Records Specialists work in an office environment during regular business hours. Some positions may offer remote work opportunities or flexible hours, especially in response to changing work trends.

  • How can I gain experience in this field?
    Gaining experience can be achieved through internships, part-time positions, or entry-level roles in accounting departments. Volunteering for financial tasks or projects in non-profit organizations can also provide practical experience.