Working In Finance
The finance industry revolves around something that interests everyone – money. It’s not just about counting it, but looking at ways to help customers save, increase and protect their finances. The emphasis in this global industry is on service. Employers are always looking for people who can connect with customers, gain their trust and build long-term relationships.
It's very difficult now to draw a line around any sector in the Financial Services industry and list the services typical organisations in that sector will provide.
Broadly, in the Financial Services industry you have:
- Commercial banks and building societies - dealing with transmission of money, loans, mortgages, pensions, insurance, foreign currency, trade finance, stocks and shares … and a wide range of other investment and lending services.
- Supermarkets, airlines, large motor car companies etc. - retail financial products such as mortgages, pensions, tax efficient savings accounts, ordinary savings and current accounts
- Investment banks - dealing with corporate finance and engineering such as mergers, acquisitions and take-overs; capital market activity such as bonds and equities (shares); stock market analysis; fund and portfolio management, derivatives including foreign exchange hedging Insurance companies
- Insurance and re-insurance - providing financial protection against risk for the cost of a premium
- Independent financial advisers - helping people plan for their financial future
- Broking firms - buying and selling stocks and shares
- Unit and investment trust companies - financial organisations concerned with earning money for their investors through techniques such as portfolio management
More than 1.25 million people are employed in the finance sector. Virtually every adult in the UK has at least one financial product and businesses could not exist without the protection and income the sector provides.
Finance is the second largest UK industry and is vital to the well-being of our economy.
