Financial services are economic services provided by the finance industry, which encompasses a broad range of service sector firms that provide management of money and investment. This includes credit unions, banks, credit-card companies and other specialized services. The broader category of financial services also contains the insurance industry, which covers risk mitigation and redistribution.
The most common form of a financial service is banking, which involves deposit-taking and lending in various forms. The financial services industry also includes brokerage, asset management and investment advice.
In addition to bank services, the industry includes credit card and debit card companies; global payment networks such as Visa and Mastercard; centralized clearing and settlement services for securities and financial contracts; and financial data processing and related software. The industry is regulated by independent government agencies to ensure transparency and integrity.
A career in the financial industry offers a variety of benefits, from competitive pay to the opportunity for advancement. At Phyton Talent Advisors, we work with professionals in the financial services industry every day, and we have seen first-hand how rewarding a career in this field can be.
The wide array of opportunities in this industry can make it difficult to decide which path is right for you. To help, we’ve outlined four key roles that are most popular in the financial services industry. We’ll explore each role, its responsibilities and the skills you’ll need to succeed in each position.