Careers in Financial Services
Financial services encompass a broad range of sectors with many career options. The most obvious sectors of the industry include banking, investing and insurance. The career path within the field is fairly flexible and if you excel at your job, you can quickly earn a promotion and increased pay.
A healthy financial services sector allows individuals to get loans for mortgages, cars and other needs. It also lets them save for future expenses, protects their property and health with insurance policies and gives businesses the capital they need to grow. This sector isn’t just about Wall Street, but includes small community banks and even nonprofits.
The various jobs in the field can vary from an accountant, who focuses on tax filings for a business or individual, to a debt resolution company that works to negotiate less than what a person or corporation owes. Other areas of the financial services sector are global payment providers like Visa and Mastercard, currency exchange companies, credit card machine services and networks and trading and stock markets.
Despite the fact that the financial services sector is highly regulated, technological advancements have allowed for a variety of new products and processes. For example, automation software has made it easier for bank workers to assess a potential customer by using algorithms to analyze an applicant’s credit score and other data, allowing them to make decisions faster. This type of technology also reduces manual errors and increases productivity for employees.