Financial services are all jobs that involve managing and exchanging money. They include everything from banking and investing to insurance and financial analysis. A career in finance can be extremely lucrative, but it’s important to have the right skills to succeed. The best way to gain these is through experience. Many companies hire recent graduates for entry-level positions in their finance departments. These graduates are expected to learn the business quickly through a combination of on-the-job training and extensive mentoring.
The strength of a country’s financial services sector is directly linked to the overall health of its economy. When the sector is strong, consumers earn more and are more confident in spending their hard-earned dollars. In addition, they are able to access credit for large purchases that may be outside their immediate budgets. A strong sector also encourages other industries to grow and expand, which boosts a nation’s overall economic health.
Regulatory bodies oversee the operation of different financial institutions and uphold transparency. They also ensure that all clients are treated fairly and have access to information about their investments. There are several independent agencies that operate in this area. Two examples include the Financial Industry Regulatory Authority (FINRA) and the Office of the Comptroller of the Currency.
Some types of financial services are highly specialized and designed for high net worth individuals and institutions with more intricate financial needs. This includes structured finance, lender negotiations, accelerated M&A and capital raising.