Financial services is the industry that encompasses a broad array of businesses that provide funds management and intermediation. It includes such things as depository institutions (banks, credit unions), insurance companies, credit-card firms, and providers of critical financial utilities.
A healthy financial services sector is vital to the economy. It allows individuals to save for big purchases and invest their money, safeguards their property and health through insurance and provides business with the capital they need to expand. It also creates jobs. But, the reality is that many people are left out of the financial services net due to various circumstances. This gap presents a good opportunity for business, civil society and governments to work together to fill.
Working in the financial services industry requires a high level of compliance. This is particularly true of roles like financial advisers and investment portfolio managers where a strict code of ethics and stringent regulatory requirements must be adhered to at all times. So, it is important for anyone thinking of a career in the field to make sure they are fully aware of these responsibilities before making a move.
A good place to start is by building up a network in the industry. This can be done through taking courses, getting an internship or participating in a mentoring programme. It is advisable to apply for a role that will enable you to learn on the job rather than jumping straight into a senior position, as this will allow you to get up to speed faster.