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Banking, Finance & Accountancy careers

Financial Services: General, Management & Operations

The management side of finances

The finance industry is big. Very big! Career opportunities in the financial services sector span credit card companies, stock brokerages, funds, insurance companies and banks.

Although the companies people work for might perform dramatically different functions, the general, management and operations roles within the financial services industry are fairly standard throughout each organisation.

What general, management and operations roles are there in the finance industry?

Financial services companies contributed to more than a tenth of total UK tax receipts in the year leading up to December 2015. The industry employs over one million people and is one of the shining lights of our economy.

Although the finance industry is broadly concerned with the movement of money, it’s not all about adding, subtracting and multiplying. There are many roles available within this sector that have very little to do with finance, including positions in HRlawI.T., and administration and management. The career paths available are truly extensive!

If you stumble across any large bank or insurance company’s graduate recruitment website, you are likely to see a variety of entry roles covering a wide number of disciplines.

Why are these roles necessary?

However, general, management and operations career opportunities are limited in certain areas of the finance industry. For example, certain departments of investment banks will be packed solely with traders. However, this is not the norm and most departments will need a good balance of people in different professions to fill their employee roster.

Money makes the world go round. Companies need access to credit to expand, individuals need money to purchase houses, the government needs cash for its many projects, and virtually anything else that involves a transaction of some sort relies on the people who work in the financial services industry.

The processes within these organisations can be complicated though. Even something as simple as setting up a direct debit means that complex processes need to be followed. In order for the service to be delivered efficiently, various individuals are required to manage and operate these processes.

Although finance is the main focus here, the way in which the financial services are delivered requires people of many trades and disciplines. For example, when an investment bank purchases a company, I.T. experts are required to ensure the monies are deposited properly through complex computer systems, lawyers are required to ensure the deal is secure and administrators are required to collect all of the data and deliver it to the correct parties.

In short, there are a huge amount of career opportunities in the world of finance that have nothing to do with crunching numbers and analysing financial figures.

For example, the big four accountancy firms cumulatively look to employ over 2,500 graduates each year. To facilitate this, HR and marketing teams are required to attract students, hold interviews and assessment centres, and ensure that employees are adequately trained during their graduate programme.

So, if want to pursue a career in banking, finance and accountancy but don’t quite fancy totting up numbers all day, perhaps a career in financial services is the one for you! If you want to know more about the finance industry, head on over to our sister site AllAboutFinanceCareers.