The industry of Financial services covers a wide range of products and services. These include banking services (deposit-taking and loaning), insurance, investment companies, credit unions and credit cooperatives, and all forms of finance and market intermediation. This industry also includes the payment system providers such as electronic funds transfer, credit cards and debit cards.
A career in this field is not only rewarding, it’s lucrative. As a result, it’s no wonder why so many people are interested in working in this sector. However, the number of options within this field can be overwhelming and it can be hard to determine which role is best for you. Phyton Talent Advisors are here to help!
There are many different sectors in the world of Financial services, all with their own specificities. Below, we’ve listed some of the most common roles and what you can expect to do in each one.
Banks – Provide depository services such as checking accounts, savings accounts, and money markets. They also provide lending services such as mortgage loans and business lines of credit. They may also offer brokerage services, which involves buying and selling securities. They may also provide specialized financial services like private banking for high-net worth individuals and structured finance, which involves developing more intricate financial products for clients with unique needs.
There are also members of the financial services sector that are not banks, such as investment agencies and stock market brokers. However, these are intermediary services and not end goods, much in the way that an orange is a consumer good but also a capital good when used by a deli owner to make juice. There are also independent regulatory agencies that oversee these sectors, which helps to ensure that they operate transparently and fairly.