Maintain records of financial transactions

Collate all the financial transactions done in the daily operations of a business and record them in their respective accounts.

manage records of financial transactions
preserve records of financial transactions
sustain records of financial transactions
control records of financial transactions
maintain a record of financial transactions
maintaining records of financial transactions
maintaining a record of financial transactions

skill/competence

cross-sector

Maintain records of financial transactions is an essential skill of the following occupations:

Insurance claims handler: Insurance claims handlers ensure that all insurance claims are handled accurately and that payment for valid claims is made to the policyholders. They use statistical data and reporting to calculate and adjust claims as needed, communicate with and guide policyholders and monitor the progress of a claim.
Vehicle maintenance supervisor: Vehicle maintenance supervisors assume responsibility for the day-to-day operation of a service station.
Middle office analyst:
Middle office analysts work in the treasury of a financial company, ensuring compliance with company policy and legal legislation, providing research and analysis on financial matters, measuring risk and supporting operations in the front office.
Insurance collector: Insurance collectors collect payment for an overdue insurance bill. They specialise in all areas of insurance such as medical, life, car, travel, etc and recurrently contact individuals to offer payment assistance or to facilitate payment plans according to individual’s financial situation.
Bank teller: Bank tellers deal most frequently with customers of the bank. They promote the banks products and services, and provide information about the customers personal accounts and related transfers, deposits, savings etc. They order bank cards and checks for the customers, receive and balance cash and checks and ensure compliance with internal policies. They work on client accounts, deal with payments and manage the use of vaults and safe deposit boxes
Credit manager: Credit managers oversee the application of credit policy in the bank. They decide the credit limits to be imposed, the reasonable levels of risk accepted and the conditions and terms of payment made to the customers. They control the collection of payments from their customers and manage the credit department of a bank.
Financial markets back office administrator: Financial markets back office administrators perform administrative tasks for all the transactions registered in the trading room. They process transactions involving securities, derivatives, foreign exchange, commodities, and manage the clearing and settling of trades.
Education administrator: Education administrators organise and manage the administration, support systems and (student) activities of an education institution. They perform a range of administrative, secretarial, financial and otherwise supportive tasks to enable the efficient and cost-effective running of the school. They may assist in student recruitment, alumni relations, funding, work on committees including academic boards and quality insurance.
Financial trader: Financial traders buy and sell financial products such as assets, shares and bonds for private clients, banks or companies. They monitor the financial markets closely and aim to maximise profit and to minimise risk through their transactions.
Pawnbroker: Pawnbrokers offer loans to clients by securing them with personal objects or items. They assess the personal items given in exchange for the loan, they determine their value and amount of loan available and keep track of inventory assets.
Real estate investor: Real estate investors buy and sell own real estate such as appartements, dwellings, land and non-residential buildings to make a profit. They might actively invest in these properties to increase its value by repairing, renovating or improving the facilities available. Their other tasks may include researching the real estate market prices and undertaking property research.
Insurance clerk: Insurance clerks perform general clerical and administrative duties in an insurance company, other service institution, for a self-employed insurance agent or broker or for a government institution. They offer assistance and provide information about insurances to customers and they manage the paperwork of insurance agreements.
Back office specialist: Back office specialists perform operation of administrative and organisational nature in service of running a financial company. They process administration, take care of financial transactions, perform supportive tasks and other diverse back office operations in coordination with other parts of the company.
Bank treasurer: Bank treasurers oversee all aspects of the financial management of a bank. They manage the liquidity and solvency of the bank. They manage and present current budgets, revise financial forecasts, prepare accounts for audit, manage the bank’s accounts and maintain accurate record-keeping of financial documentation.
Foreign exchange cashier: Foreign exchange cashiers process cash transactions from clients in national and foreign currencies. They provide information on the conditions and exchange rates for buying and selling foreign currencies, make deposits of money, record all foreign exchange transactions and check for money validity.
Securities broker: Securities brokers create the connection between the investors and the available investment opportunities. They purchase and sell securities on their clients’ behalf, based on their expertise in the financial markets. They monitor the performance of their clients’ securities, assessing their stability or speculative tendencies. Securities brokers calculate the securities’ price and place orders.
Property assistant: Property assistants perform several duties including administrative tasks in the real estate sector. They provide clients with financial information about properties and advise them, they schedule appointments and organise property viewings, they prepare contracts and assist in property valuation.
Headteacher: Headteachers manage the day-to-day activities of an educational institution. They make decisions concerning admissions and are responsible for meeting curriculum standards, which facilitate academic development for the students. They manage staff, working closely with the different department heads, and evaluate the subject teachers in a timely manner in order to secure optimal class performance. They also ensure the school meets the national education requirements set by law and cooperate with local communities and governments.
Investment clerk: Investment clerks assist with the administration of investments such as stocks, bonds or other securities and perform general clerical duties in the investment sector of a financial company.

Maintain records of financial transactions is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Foreign exchange trader: Foreign exchange traders buy and sell foreign currencies in order to secure a profit on fluctuations in foreign exchange rates. They undertake technical analysis of economic information (market liquidity and volatility ) to predict the future rates of currencies on the foreign exchange market. They trade on their own name or for their employers.
Financial auditor: Financial auditors collect and examine financial data for clients, organisations and companies. They ensure the financial data is properly maintained and free of material misstatements due to error or fraud, that it adds up, and functions legally and effectively. They review lending and credit policies or numbers in databases and documents, evaluate, consult and assist the source of the transaction if necessary. They use their review of the client’s financial governance as assurance to give testimony to the shareholders, stakeholders and board of directors of the organisation or company that all is up to par.
Financial planner: Financial planners assist people dealing with various personal financial issues. They are specialised in financial planning, such as retirement planning, investment planning, risk management and insurance planning, and tax planning. They advise a strategy tailored to the client’s needs. They ensure the accuracy of bank and other financial records while maintaining a customer-orientated approach and following ethical standards.
Commodity broker:
Commodity brokers act as intermediary between buyers and sellers of movable and immovable property such as raw materials, livestock or real estate. They negotiate prices and receive a commission from the transactions. They research market conditions for specific commodities in order to inform their clients. They make bid offers and calculate the cost of transactions.
Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Securities trader: Securities traders purchase and sell securities such as stocks, bonds and shares on their own account or on their employers account based on their expertise in the financial markets. They monitor the performance of the securities traded, assessing their stability or speculative tendancies. Securities brokers calculate the securities price and place orders. They record and file all securities transactions and take care of their financial documents.
Bank account manager: Bank account managers advise prospective clients on the type of banking accounts suitable for their needs. They work with clients to set up the bank account and remain their primary point of contact in the bank, assisting with all necessary documentation. Bank account managers may recommend their clients to contact other departments in the bank for other specific needs.
Pensions administrator: Pensions administrators perform administrative duties in the management of pension schemes, ensuring the correct calculation of client’s pension benefits, compliance with legal requirements, drafting reports and communicating relevant information to customers. They work either in the private or the public sector.
Securities underwriter: Securities underwriters administer the distribution activities of new securities from a business company. They work in close connection with the issuing body of the securities in order to establish the price and buys and sells them to other investors. They receive underwriting fees from their issuing clients.
Stock broker: Stock brokers act on behalf of their individual or institutional clients in order to buy and sell stocks and other securities. They are in close contact with their clients and ensure that what they buy or sell through the stock exchange market is according to their clients’ wishes. Stock brokers undertake analyst research to make recommendations to their clients and expand their client base through various methods.
Investment fund management assistant: Investment fund management assistants provide clients with financial planning advice on financial products and serve as the main contact point for new and old clients. They assist and perform preparatory work in the creation and administration of funds and help with the implementation of fund management decisions made by the portfolio or fund manager.
Shipbroker: Shipbrokers act as intermediaries between buyers and sellers of ships, cargospace on ships and charter ships for the transfer of cargo. They inform clients on the shipping market mechanisms and movements, report on vessel and cargospace prices and sales, and negotiate not only the cost of the vessels, cargospace or cargo but also the logistical requirements for the transfer of the vessel or commodity cargo to the buyers.
Insurance broker: Insurance brokers promote, sell and provide advice on various insurance policies such as life insurance, health insurance, accident insurance and fire insurance to individuals and organisations. They also work as intermediaries between individuals or organisations and insurance companies, and negotiate the best insurance policies for their clients, arranging insurance cover where needed. Insurance brokers engage with new prospective clients, provide them with quotes for their policy needs, assist them in the signing of new insurance contracts and propose specific solutions to their specific problems.
Property acquisitions manager: Property acquisitions managers ensure land or property acquisitions transactions. They liaise with relevant stakeholders concerning financial aspects and risks arising from the acquisition of property. Property acquisitions managers ensure compliance with legal requirements for purchasing property and take care of all documentation and closure techniques needed.

Financial broker: Financial brokers undertake financial market activities on behalf of their clients. They monitor securities, financial documentation of their clients, market trends and conditions and other legal requirements. They plan buying and selling activities and calculate transactions costs.
Real estate leasing manager: Real estate leasing managers set up the lease or rental efforts of an apartment community and properties not in co-ownership and also manage the leasing staff. They produce, track and manage file leasing deposits and documents. They also oversee the lease administration and prepare tenancy budgets on an annual and monthly basis. They also actively promote the vacancies available in order to get new residents, show properties to potential tenants and are present to conclude contracts between landlords and tenants when dealing with private property.
Bankruptcy trustee: Bankruptcy trustees administer a client’s bankruptcy case, investigate legal documentation for fraud possibilities and manage the money received from the sale of non-exempt property so as to distribute it to the owed creditors.
Commodity trader: Commodity traders use negotiation techniques to sell and buy physical goods and raw materials such as gold, cattle, oil, cotton and wheat on the trading floor. They receive and implement purchasing and selling instructions and negotiate the terms of sale and delivery of commodities. Commodity traders do research about market conditions of specific commodities, their price trends and demand in order to inform their employers, they make bid offers and calculate the cost of transactions.
Human resources manager: Human resources managers plan, design and implement processes related to the human capital of companies. They develop programs for recruiting, interviewing, and selecting employees based on a previous assessment of the profile and skills required in the company. Moreover, they manage compensation and development programs for the company’s employees comprising trainings, skill assessment and yearly evaluations, promotion, expat programs, and general assurance of the well-being of the employees in the workplace.
Foreign exchange broker: Foreign exchange brokers buy and sell foreign currencies on behalf of their clients in order to secure a profit on fluctuations in foreign exchange rates. They undertake technical analysis of economic information such as market liquidity and volatility, to predict the future rates of currencies on the foreign exchange market.
Futures trader: Futures traders undertake daily trading activities in the futures trading market by buying and selling futures contracts. They speculate on the futures contracts’ direction, trying to make a profit by buying futures contracts they foresee to rise in price and sell contracts they foresee to fall in price.

References

1. Maintain records of financial transactions – ESCO