The
financial services industry offers a wide range of job opportunities
and career paths for potential candidates. Deciding which line of work
is best for you depends greatly on your interests and qualifications,
and an understanding of what these jobs entail. In this article we take
on overview of a number of roles in the financial services industry with
the aim of aiding your career or training decision.
What is an Actuary?
The
job if an actuary is to gather and analyse statistics, using them to
evaluate financial risk accordingly. To be an actuary requires great
attention to detail, a head for numbers, and the ability to communicate
clearly. Actuaries will acquire a very thorough understanding of
financial systems, using them to solve problems and advise on risk. An
actuarial career may take you to a variety of industries, and can be
very rewarding both personally and financially.
What Is a Financial Advisor?
A
financial advisor may be employed by different types of companies.
Those such as banks are called ‘tied advisors’, meaning they can only
advise on products offered by that institution. ‘Multi-tied advisors’
can offer products from a small range of providers. Independent
financial advisors have access to all or most of the products available
on the market. Mortgage advisors work in the same way. As a financial
advisor you will offer clients advice on the best way to look after
their money such as when they come to make decisions on mortgages,
pensions, investments and savings.
What is an Investment Manager?
Investment
managers (otherwise known as fund managers) offer professional
management services of various types of investment such as stocks,
shares and bonds. They will make decisions which will often then have to
be passed by the client relating to what actions should be taken to get
the best return and to best protect the investments in their care. To
be a find manager you will need an in depth knowledge of the various
areas of finance these assets belong to, good analytical and
communications skills. You will receive information from a number of
departments which you must work through to decide the best course of
action for your client.
What is a Tax Inspector?
As a tax
inspector you will be required to ensure companies and individuals pay
the right amount of tax for their earnings. You will investigate those
suspected of trying to evade their tax responsibilities, as well as
advise businesses and individuals on tax related subjects. You will need
an analytical mind, good numerical and communication skills, and
possibly a good degree of patience.
These are just a small number
of career opportunities available in the financial services industry,
there are literally hundreds of other positions available in this
interesting field, including bankers, chartered accountants investment
analysts, and many more.