As is the case for every business, understanding job roles and responsibilities (JRR) at financial services companies is crucial for organizational efficiency and success. It’s essential when starting a new business or expanding an existing one. In this post, we’ll explore how to create internal job roles and responsibilities for a fictitious financial services company, Acme Financials of Englewood, which you can use as a guide for your business.

Table of Contents

  1. Establishing Work Departments
  2. Defining Job Roles and Responsibilities
  3. JRR: Use Case Examples
  4. JRR: Apps In Use
  5. Wrapping It All Up

Establishing Departments

Before diving into specific job roles, it’s essential to establish the various departments within your financial services company. This will help you organize your workforce and create a structured environment. Departments typically found at a financial services firm include:

Financial Services Companies: Defining JRR

Once you have established the departments, it’s time to define job roles and responsibilities.

Defining roles and responsibilities in a team is essential for several reasons:

  1. Avoids Miscommunication and Duplication: When roles and responsibilities are unclear, team members may move forward with tasks that overlap, leading to miscommunication and duplication of work. This could delay project delivery.
  2. Boosts Efficiency: Clear roles help team members collaborate and work through projects more efficiently. This is particularly important for managers, as clarifying specific tasks for each team member early on in a project is crucial to improve productivity.
  3. Identifies Gaps in Responsibilities: After determining the various tasks that need to get done and creating a to-do list, you can compare these tasks with what team members are currently doing. This comparison can help identify gaps in responsibilities, which may occur if job descriptions need clarification or team members are pulled into tasks not initially intended for them. Once these gaps are identified, you can realign the team and delegate tasks more effectively.
  4. Clarifies Roles with a RACI Matrix: A RACI matrix (Responsible, Accountable, Consulted, Informed) is a tool that can be used to describe team member roles. Assigning one of the four RACI categories to each task and team member makes it easy for everyone to know their job roles. This can set clear expectations and serve as a reference when executing projects.
  5. Encourages Feedback and Collaboration: Asking team members for feedback after defining roles and responsibilities can promote collaboration and provide insight into whether the roles assigned are functional. This process can also facilitate better communication and healthy team dynamics.
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Here are some examples of financial services job roles and responsibilities. Broken into departments:





Customer Service

Human Resources

JRR: Use Case Examples

Below are six examples of job roles & responsibilities at a modern financial services company.

Example 1: Financial Analysis and Reporting at Acme Financials of Englewood

At Acme Financials of Englewood, the Chief Financial Officer (CFO) starts their day by reviewing the company’s financial performance. They collaborate with the Financial Analyst to analyze the latest economic data and identify trends, opportunities, and potential risks. The CFO then presents their findings to the executive team during a morning meeting.

In the meantime, the Accountant ensures all financial transactions are recorded accurately and manages accounts payable and receivable. They also collaborate with other departments, such as Sales and Customer Service, to address financial discrepancies or issues.

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Example 2: Sales and Customer Service Operations at Acme Financials of Englewood

The Sales Director at Acme Financials of Englewood begins their day by reviewing the sales team’s performance and setting daily targets. They provide guidance and support to Sales Representatives, who spend their day contacting potential clients, presenting Acme’s product offerings, and closing deals.

Simultaneously, the Customer Service Manager monitors the department’s performance and resolves escalated customer issues. Customer Service Representatives respond to customer inquiries, provide product information, and assist customers with problems, ensuring high satisfaction.

Example 3: Marketing and Technology Collaboration at Acme Financials of Englewood

The Chief Marketing Officer (CMO) and Chief Technology Officer (CTO) of Acme Financials of Englewood often collaborate to ensure seamless technology integration in marketing campaigns. The CMO works with the Digital Marketing Specialist and Content Creator to develop engaging marketing materials. At the same time, the CTO oversees the Software Developers who create user-friendly applications for Acme’s clients.

Together, they ensure that Acme’s online presence, including the company website and social media accounts, is optimized for search engines and user experience. The IT Support Specialist assists the marketing team with technical issues and helps maintain the company’s digital infrastructure.

Example 4: Talent Acquisition and Onboarding at Acme Financials of Englewood

The Human Resources Director at Acme Financials of Englewood is responsible for ensuring that the company attracts and retains top talent. They collaborate with the Talent Acquisition Specialist to identify open positions and develop job descriptions that accurately reflect the responsibilities and requirements of each role. The Talent Acquisition Specialist then screens and interviews potential candidates, selecting the best fit for the company.

Once a candidate has been hired, the HR Coordinator manages the onboarding process. They organize orientation sessions, ensure new employees have the necessary resources, and provide information about company policies, benefits, and expectations.

Example 5: Product Development and Strategy at Acme Financials of Englewood

At Acme Financials of Englewood, the executive team, including the CEO, CTO, and CMO, regularly convene to discuss and develop new product offerings and strategies. They analyze market trends, customer feedback, and competitors’ products to identify areas for growth and improvement.

The CTO then works with the Software Developers to design and build new applications or features that cater to customer needs. At the same time, the CMO oversees the marketing team to create targeted campaigns that promote these new offerings. Together, they ensure that Acme Financials remains competitive and innovative in the financial services industry.

Example 6: Compliance and Risk Management at Acme Financials of Englewood

Acme Financials of Englewood’s CFO and HR Director work together to ensure compliance with all relevant laws, regulations, and industry standards. This includes financial reporting, taxation, and employment laws. The Accountant plays a vital role in maintaining accurate financial records and ensuring tax compliance, while the HR Director ensures that company policies and procedures adhere to employment regulations.

Additionally, the executive team at Acme Financials continuously assesses and manages risks, such as cybersecurity threats and market fluctuations. The CTO oversees the IT Support Specialist, who implements security measures and conducts regular system audits to protect company and client data. Meanwhile, the CFO and Financial Analyst monitor market trends and develop strategies to mitigate potential financial risks.

Apps In Use

This is a short list of trusted and proven applications companies use worldwide. Each app has its use case. Therefore, we suggest researching each of them when developing your JRR initiatives.


Workday provides comprehensive human capital management services, which include talent management and workforce planning. Its functionalities include defining job profiles, setting up organization structures, and managing employee roles and responsibilities


Known for its intuitive interface, BambooHR allows you to efficiently manage employee roles and responsibilities. You can track and manage workforce data, performance, and succession planning. It has robust reporting capabilities that can provide insights into your workforce structure.

Zoho People

Zoho People is an all-in-one HR solution that allows you to create and manage job descriptions, assign roles, and streamline recruitment. It’s cloud-based and provides employee self-service portals as well as HR analytics.

SAP SuccessFactors

A more robust HR solution, SAP SuccessFactors, encompasses core HR, payroll, and talent management. It offers comprehensive solutions for defining job roles, job descriptions and assigning responsibilities across the workforce.


UGK allows HR professionals to manage and optimize their human resources, payroll, talent, and timekeeping functions. It can be used for creating detailed job roles and responsibility matrices.


While primarily a project management tool, Trello can effectively define roles and responsibilities by setting up individual boards for each role and listing their responsibilities as tasks. It’s beneficial for managing remote teams.


JobScore develops recruitment software that allows you to create and manage job descriptions. It’s simple to use, allowing you to define specific responsibilities for each role.


While Asana is primarily a team collaboration and project management tool, it can delegate and manage responsibilities. You can create different projects for different roles and add tasks as responsibilities.

Microsoft Teams

Not included in but closely tied to the Microsoft 365 suite of apps, Teams can be an excellent way to keep track of responsibilities and roles. You can assign tasks and track progress using the Planner and Lists features.


Slack is primarily a communication tool, but its heavy roster of app integrations means you’ll likely find a way to use Slack to help you manage roles and responsibilities.

Wrapping It All Up

Keeping job roles and responsibilities up-to-date is essential as your company grows and evolves. Make sure to document any changes and review each position periodically. This will help with job searches, employee training, and work evaluations.