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How To Get A Job in Banking and Financial Services

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What is Banking and Financial Services?

Working in banking and financial services is a broad area covering all things to do with money. Financial services could vary from insurance to managing a companies accounts. Banking is focused on working in a bank, dealing with everything from deposits to loans to bill payments.

Banking is also split between two separate activities. Commercial banking covers all public sector practices, from bank accounts, savings, mortgages and credit cards. Investment banking is a separate banking operation, supporting companies and organisations in finding investors. They can also provide specialist help such as managing assets.

Why work in Banking and Financial Services?

Working in banking has the potential to progress your career quickly and also work in a vast array of positions. Entry-level employees often start as a Bank Teller, helping customers with their queries and financial decisions involving loans, savings, and deposits. Experience or formal education such as a Finance Degree can lead to a position as a Financial Manager, with duties including being responsible for a whole companies or organisations financial wellbeing.

Other typical duties include:

  • Providing good customer service
  • Helping with account transactions
  • Keeping records of transactions
  • Using initiative to best guide customer to correct specialist advisors

Who are the key employers in Banking and Financial Services?

Typical employers within banking and financial services are banks, insurers, businesses, and even the government. Some of the top employers include: BarclaysBloombergHSBCHM Revenue & Customs.

What qualifications and training are required?

To get into a banking or financial sector role, higher education is valuable. Although not necessary for a role as a Bank Teller, a degree in Maths, Finance, or Business is certainly giving you an advantage when it comes to any career in the financial sector.

In many entry-level roles, on-the-job training will be provided, including using the banks computer systems, handling cash, and also customer interaction as this will initially cover a lot of your job responsibilities.

What are the desired skills for a job in Banking and Financial Services?

Following a career in banking and finance will mean a serious focus on maths, business and the ability to understand the financial world. It is important to have confidence, a willingness to learn, and motivation to push your career further.

Keys skills often include:

  • Ability to work under pressure
  • Customer services
  • Leadership skills
  • Strong math skills
  • Time management and organisation
  • Understanding of accounting/finance/economics

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