Funeral directing and embalming are actually two separate jobs. While some people choose to get a license to do both jobs, not everyone does.
Some companies choose to hire one person to perform all of the embalmings for the organization. This is true for a lot of large corporations where they have a primary embalmer who handles all of the embalmings for their area. These organizations may also have apprentice embalmers who are studying under the primary embalmer before getting their license.
Most companies hire funeral directors whose only job is to organize funerals. Smaller companies may have one or two funeral directors who also perform embalming's. This is because the job of a funeral director has more tasks to be performed than the job of an embalmer.