Editing Financial analyst (section)

===Investment Banking===
{{See also|Investment banking#Corporate finance|Investment banking#Research|Corporate finance#Investment banking}}

Financial analysts in the [[investment banking]] departments of securities or banking firms often work in teams, analyzing the future prospects of companies, and selling shares to the public for the first time via an [[initial public offering]] (IPO), or [[Bond (finance)#Issuance|issuing bonds]]; this task is often identical to that of a securities analyst. On this basis, they will then make presentations to prospective investors re the merits of investing in the new company, presenting their "[[pitch book]]s" on a "[[Financial roadshows|roadshow]]"; see [[bookrunner]] and [[securities underwriting]]. An additional component of the IB role here: analysts ensure that all forms and written materials necessary for compliance with [[Securities and Exchange Commission]] regulations are accurate and complete.

Many IB analysts work in [[mergers and acquisitions]] (M&A) departments, similarly preparing analyses on the costs and benefits of a proposed merger or takeover, and assisting with [[Securities regulation in the United States|regulatory submissions]]; here there are both buy-side- and sell-side analysts. See {{slink|Chinese wall#Finance}}. The analysis is somewhat more specialized than for an IPO, as it must consider [[Mergers and acquisitions#Business valuation|valuation pre- and post-merger]], a function of efficiencies, synergies, or increased market share, [[Mergers and acquisitions#Financing|financing employed]], including M&A specific considerations such as the [[swap ratio]], and [[Tax_avoidance|tax optimization]], both re the transaction and for the new entity.<ref>Stephanie Overby and John Labate (2021). [https://deloitte.wsj.com/articles/tax-planning-to-drive-m-a-transaction-value-01623265329 Tax Planning to Drive M&A Transaction Value], ''[[Wall Street Journal]]''</ref>

At more senior levels, <ref name="princetonreview"/> [[Vice president#In financial services companies|vice presidents]] (VPs) or Senior VPs will manage the workflow and deliverables—with modelling performed by Associate VPs—but not be involved in the line-by-line detail ''per se''. [[Corporate title#United States|Directors]] will be responsible for [[Rainmaker (business)|"rainmaking"]] and maintaining existing client relationships. The latter role incorporates a significant advisory element—guiding the client regarding [[Relative valuation|their profile and exposure]] in the [[capital markets]], and [[Investment banking#Corporate finance|advising on M&A]] and other corporate activity <ref>Shaun Beaney, Katerina Joannou and David Petrie [http://www.icaew.com/en/technical/corporate-finance/corporate-finance-faculty/what-is-corporate-finance-122299 What is Corporate Finance?], Corporate Finance Faculty, [[ICAEW]], April 2005 (revised January 2011 and September 2020)</ref> (and liaising with [[sales and trading]]).

Investment banks, and large trading houses, often employ an [[Economist#Professions|economics team]] or group. This team produces the [[economic forecast]]s informing the various valuations and overall [[investment strategy]];<ref>[https://www.investopedia.com/articles/financial-careers/08/financial-career-options-professionals.asp#toc-economic-analyst "Economic Analyst"], investopedia.com</ref> see {{slink|Investment banking#Research}} and [[Economic analyst]].

====Middle office====
Within banking, there are other non-quant analyst roles (not necessarily titled "financial analyst"), mainly within the [[Investment banking#Middle office|"middle office"]]; these are generally linked, at least [[Solid line reporting#Dotted-line (indirect) reporting|by dotted line]], to both the Finance and Risk Management areas.

* [[Corporate treasury|Corporate Treasury]] is responsible for an investment bank's funding, capital structure management, and [[liquidity risk]] monitoring; see {{slink|Bank#Capital and risk}}. It is then (co)responsible for the bank's [[funds transfer pricing]] (FTP) framework, allowing for comparable financial performance evaluation among business units
* [[product control|Product Control]] is primarily responsible for [[P&L Explained|"explaining" the P&L]]; i.e.: attributing returns to [[Trading room#Organization|individual desks]], [[PnL Explained#Sensitivities method|decomposing these]] into their [[Risk factor (finance)#Financial Risks for the Market|risk factors]], and ensuring that traders' positions [[Mark-to-market accounting|are reflected]] at [[Fair value|their market values]]; the tools here are often built by a separate quant team, possibly [[Investment banking#Front office|front office]], but maintained by Product Control.
* Credit Risk monitors the bank's debt-clients on an ongoing basis, as [[#Credit analysts|described below]]; it is additionally responsible for tracking the [[risk capital]] and [[Risk-adjusted return on capital|risk adjusted returns]] on these clients, and reporting [[concentration risk#Monitoring and management|re concentration risk]] and [[risk appetite]].

These areas, together with the various dedicated [[Investment banking#Risk management|Risk Groups]], allow the Finance department to advise senior management regarding the firm's global risk exposure and the profitability and structure of the firm's various businesses; see {{slink|Financial risk management#Banking}}.

A [[comptroller]] (or financial controller) is a senior position, responsible for these analyses and [[internal control]] more generally, usually reporting to the bank's [[chief financial officer]], as well as copying the [[chief risk officer]].