Financial Records Specialist in North Carolina Career Overview
As a Financial Records Specialist, you play an essential role in managing and maintaining financial documentation within an organization. Your responsibilities encompass a variety of tasks that ensure the accuracy and integrity of financial data.
Record Keeping: You are tasked with documenting financial transactions, which includes processing invoices, managing accounts payable and receivable, and ensuring that all records are up to date and accurate.
Data Management: Effective organization of financial records is key to your role. You utilize various software and systems to track financial information, making it easier for other departments to access necessary data.
Compliance and Auditing: You ensure that financial records comply with relevant laws and regulations. This may involve preparing documents for audits, responding to inquiries from external auditors, and implementing practices that uphold financial integrity.
Reporting: You generate financial reports that provide insight into an organization's financial health. These reports inform decision-making processes, provide analysis for management, and can influence strategic planning.
Collaboration: You often work closely with other financial professionals, such as accountants and financial analysts. Your role acts as a bridge among various teams, facilitating the smooth flow of financial information across the organization.
Your expertise in managing financial records not only supports day-to-day operations but also contributes to long-term financial planning and reporting, making you a vital component of any financial department.
Financial Records Specialist Salary in North Carolina
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 North Carolina
To become a Financial Records Specialist in North Carolina, you will need specific educational qualifications and training tailored to the field. Here are the recommended degree programs that can help you prepare for this role:
Accounting: A degree in accounting provides you with foundational knowledge in financial reporting, taxation, and auditing. This program not only familiarizes you with accounting principles but also enhances your analytical skills, which are essential for managing financial records.
Accounting Technology and Bookkeeping: This degree focuses on the practical aspects of maintaining financial records. It covers software tools, bookkeeping techniques, and essential accounting practices, equipping you with the technical skills necessary for the role.
Auditing: With an auditing degree, you gain insights into the review and assessment of financial records and systems. This knowledge is critical for ensuring accuracy and compliance in financial reporting processes.
Business Administration and Management: This program offers a broader understanding of business operations, including finance, management, and strategy. Combining this knowledge with your focus on financial records can be beneficial for understanding the overall business context.
Finance: A finance degree emphasizes financial management, investments, and financial analysis. This background is advantageous for understanding the financial implications of record-keeping and reporting.
In addition to obtaining the relevant degree, consider pursuing internships or practical training opportunities to complement your education and gain hands-on experience in financial record management.
Best Schools to become a Financial Records Specialist in North Carolina 2024
University of Phoenix-Arizona
Southern New Hampshire University
Western Governors University
Colorado Technical University-Colorado Springs
Grand Canyon University
Liberty University
- 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 North Carolina
Attention to Detail: You must ensure accuracy when handling financial records. Small errors can lead to significant issues, so a meticulous approach to reviewing documents is essential.
Analytical Skills: Ability to interpret financial data and identify discrepancies is vital. You should be able to analyze trends and patterns in records to support financial reporting.
Organizational Skills: Managing multiple tasks, maintaining detailed records, and ensuring easy retrieval of information require strong organizational abilities. Effective filing systems and time management are key components of success.
Technical Proficiency: Familiarity with accounting software like QuickBooks or Microsoft Excel is important. You should also be comfortable using various databases and record-keeping systems.
Communication Skills: You will often collaborate with other departments or financial teams. Clear and concise communication, both written and verbal, is necessary to convey financial information accurately.
Problem-Solving Skills: Financial discrepancies or issues may arise unexpectedly. Your ability to analyze the situation and devise solutions promptly ensures accurate financial reporting.
Knowledge of Financial Regulations: Understanding relevant laws, regulations, and guidelines surrounding financial documentation is essential to maintain compliance and uphold ethical standards.
Confidentiality: You will handle sensitive financial information, so a strong commitment to confidentiality is crucial. You must adhere to data protection policies and maintain trust with your employer.
Adaptability: The financial landscape is continually evolving. Being open to learning new procedures, software, and regulations will help you stay relevant and effective in your role.
Teamwork: You should work effectively with others, understanding that collaboration often enhances the accuracy and efficiency of financial record 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.
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 North Carolina
The job market for Financial Records Specialists in North Carolina shows a robust demand for skilled professionals in this field. The growing complexities of financial data management, coupled with the rise in regulatory requirements across various industries, have led to an increase in the need for specialists who can manage, analyze, and maintain financial records with precision.
Demand: Employers in sectors such as healthcare, manufacturing, and technology are actively seeking Financial Records Specialists. The ability to navigate accounting software and maintain accurate financial records is essential, creating a steady demand for candidates with these competencies.
Growth Potential: The financial recordkeeping industry is witnessing consistent growth. As businesses increasingly prioritize compliance with ever-changing financial regulations and strive for efficiency in their processes, the demand for Financial Records Specialists is expected to expand. This growth also opens pathways for career advancement, allowing for a transition into supervisory roles or specialized areas like auditing and compliance.
Geographical Hotspots:
- Charlotte: A major financial hub, Charlotte is home to numerous banks and financial institutions, making it a prime location for job opportunities in financial record management.
- Raleigh-Durham: This area, known for its technology and research companies, requires financial expertise as businesses scale and manage complex financial datasets.
- Greensboro: With a strong manufacturing base, Greensboro offers prospects particularly in industries that necessitate precise financial recordkeeping.
- Wilmington: The growing port city also hosts several businesses that require financial oversight, contributing to the demand for specialists in financial records.
The career landscape for Financial Records Specialists in North Carolina is favorable, characterized by steady demand across diverse sectors and promising growth potential for those looking to establish or advance their careers in this field.
Top Related Careers to Financial Records Specialist 2024
Additional Resources To Help You Become a Financial Records Specialist in North Carolina
National Association of Accountants (NAA)
- Website: www.nacareer.org
- Offers resources for professional development, networking opportunities, and industry news relevant to financial accounting and record keeping.
American Institute of Professional Bookkeepers (AIPB)
- Website: www.aipb.org
- Provides certification resources, training materials, and best practices for those handling financial records.
American Accounting Association (AAA)
- Website: www.aaahq.org
- A professional association dedicated to accounting education, offering research, journals, and conferences that may enhance your knowledge in financial record-keeping.
North Carolina Association of CPAs (NCACPA)
- Website: www.ncacpa.org
- Supports CPAs and financial professionals in North Carolina with continuing professional education, networking, and resources specific to the state.
SCORE North Carolina
- Website: www.score.org/find-location
- A resource for small business mentoring and workshops, useful for gaining insight into financial management and record-keeping practices.
Professional Bookkeepers Association (PBA)
- Website: www.probookkeepers.org
- Provides certification, training programs, and resources tailored to bookkeepers and financial record specialists.
IRS Accounting & Bookkeeping Options
- Website: www.irs.gov/businesses/small-businesses-self-employed/tax-information-for-small-businesses-and-self-employed-people
- The IRS site contains resources on record-keeping requirements, tax guidelines, and financial responsibilities for individuals and businesses.
Financial Accounting Standards Board (FASB)
- Website: www.fasb.org
- Offers standards and guidelines for financial reporting, beneficial for understanding the frameworks that govern financial record-keeping.
Bookkeeping Basics: A Complete Guide for Beginners
- Website: www.businessnewsdaily.com
- An informational resource that covers fundamental concepts of bookkeeping, useful for anyone entering the financial records field.
QuickBooks Learning Center
- Website: quickbooks.intuit.com/learn-support/en-us/help-article
- A great resource for training on how to use accounting software, crucial for modern financial records specialists.
Utilizing these resources will deepen your understanding and elevate your expertise as a Financial Records Specialist in North Carolina.
Frequently Asked Questions (FAQs) About Financial Records Specialist in North Carolina
What does a Financial Records Specialist do?
A Financial Records Specialist is responsible for maintaining accurate financial records, processing transactions, reconciling discrepancies, and ensuring compliance with financial regulations. Their work often involves data entry, generating financial reports, and assisting with audits.What qualifications do I need to become a Financial Records Specialist?
Typically, you will need a high school diploma or GED, though many employers prefer candidates with an associate's degree in finance, accounting, or a related field. Relevant experience, such as internships or positions in bookkeeping, can also be beneficial.What skills are essential for a Financial Records Specialist?
Important skills include attention to detail, proficiency in accounting software (such as QuickBooks or Excel), strong organizational abilities, and good communication skills. Knowledge of financial regulations and practices is also vital.What is the job outlook for Financial Records Specialists in North Carolina?
The job outlook for Financial Records Specialists is generally positive, with steady demand in various industries such as healthcare, education, and government. As businesses continue to prioritize accurate financial management, opportunities for skilled professionals in this area are expected to grow.What industries hire Financial Records Specialists?
Financial Records Specialists can find employment in a variety of sectors, including but not limited to accounting firms, corporate finance departments, government agencies, healthcare organizations, and non-profits.What is the typical salary range for Financial Records Specialists in North Carolina?
Salaries can vary based on experience and location, but the median salary for Financial Records Specialists in North Carolina typically ranges from $35,000 to $55,000 per year. More experienced professionals may earn higher salaries.Can I advance my career as a Financial Records Specialist?
Yes, advancement opportunities exist. By gaining experience and furthering your education, you can move into more senior roles such as Accounting Manager, Financial Analyst, or Controller.What certifications can enhance my career as a Financial Records Specialist?
Certifications such as Certified Bookkeeper (CB), Certified Management Accountant (CMA), or Certified Public Accountant (CPA) can enhance your qualifications and improve your career prospects in finance and accounting.What tools and software should I be familiar with?
Familiarizing yourself with accounting software such as QuickBooks, Microsoft Excel, and enterprise resource planning (ERP) systems is essential for success in this role. Knowledge of data management and record-keeping software is also beneficial.Is it possible to work remotely as a Financial Records Specialist?
Yes, many companies offer remote or hybrid work options for Financial Records Specialists, particularly in the wake of the COVID-19 pandemic. Your ability to work remotely may depend on your employer's policies and the nature of your job duties.