The Financial Services Industry
A healthy financial services industry allows individuals to borrow money for a home, car or college tuition. It also allows businesses to expand and thrive and protects their assets through insurance. And it provides millions of jobs that pay well, helping people to live their best lives and build a strong economy.
A financial services sector includes all sectors that involve direct saving and lending, including banks; credit unions; mortgage companies; credit card issuers; investment funds (e.g. mutual funds); brokerage firms; and insurance companies, including life and non-life insurance, reinsurance, and financial risk management. It also covers the provision of auxiliary financial services such as credit reference and analysis, debt resolution, foreign exchange and money market services, securities processing and settlement, and investment advisory, intermediation, research and information services.
As the world’s economy continues to become more complex, it’s vital for those who work in financial services to be able to understand and interpret complex data quickly and accurately. It’s also critical for them to have a deep understanding of how their role in the industry connects to the bigger picture.
If you’re interested in working in financial services, it may be helpful to know that many entry-level positions offer extensive training and mentorship opportunities to help you succeed. You can expect to learn on-the-job and be promoted based on your aptitude rather than how long you’ve been with the company, which can make it easier to move up the ladder.