5 popular careers in banking and finance

The world of finance never sleeps.  There’s always a stock exchange open somewhere in the world that’s trading, money is electronically wiring it’s way between continents, and investments are (hopefully!) profiting while we sleep.  Whether you’re interested in working locally or on a trading floor in one of the international financial centres, there’s a banking and finance role for you.

Financial Markets Broker

We’ve all seen photos of trading floor with people crammed together, looking at the share prices with hands frantically in the air or on their phones.  There’s no doubt that being a financial markets broker is a high pressure role. Buying and selling stocks and securities, monitoring prices and market conditions and predicting which investments will pay off and which you need to get rid of before they crash.  Financial markets brokers deal with other people’s money and must always communicate with their client and be aware of their financial circumstances when making investing decisions. You’ve got to be mathematical and make quick decisions and even quicker calculations.  The hours can be long and tense but with the role comes an adrenaline high that few roles provide. To become a financial markets broker you need a degree in commerce, accounting, finance or a similar subject is usually required to get a job in this area.

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Loan Officer

When you sit down with a loan officer it’s natural to be nervous.  These people can make or break your dreams. Loan officers go through your application, check credit histories, outstanding debts and any other factors which might affect applications and decide whether you’re eligible for a loan.  They need to be very detailed, checking figures and data accurately. They also need great communication skills and tact, not everyone will get a loan and they must deal with disappointed customers sensitively. Being good at maths and IT is pretty crucial for the role.  Some loan officers need to work in the evening or weekends to visit clients at home or at their businesses to discuss applications. Most loan officers have at least a VET in credit management or a degree in economics, accounting, commerce or similar, but it is not always necessary to have formal qualifications for an entry level position.

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https://www.careerhq.com.au/blog/2017/10/04/how_to_become_a_loan_officer-125

Financial Analyst

Ever wonder how interest rates are set, or who predicts which shares will be worth owning?  Financial analysts monitor economic conditions, industry changes, business profits, government decisions, or trade agreements and then analyse all the data to help them forecast what will happen in the markets.  They create very detailed reports and charts which are then used by businesses, banks, investors and the public to make financial decisions on investments. Financial analysts are very analytical and detailed as their reports require it.  They must understand the market and all the different financial products available. Financial analysts are party to highly sensitive information and they must be trustworthy and discrete. A degree in statistics, mathematics, accounting or similar is needed to get a role as an analyst.

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https://www.careerhq.com.au/blog/2017/10/04/how_to_become_a_financial_analyst-130

Bank Customer Service Officer

So most of us don’t so it that often nowadays, but when you walk into the bank it’s nice to say ‘hi’ to someone, see a person not just a machine and feel like you’re money isn’t just an online commodity but a real thing.  Bank customer service officers are the face of the bank. They deal with customer questions, open and close accounts, handle cheques and cash or exchange foreign currency. They update customer records and give advice on bank products or refer customers to the specialist member of the bank team.  Great communication and interpersonal skills are a must as they deal with customers all day. Most procedures are done on computer now so good IT knowledge and a mathematical mind will be needed. Often there’s a queue of people waiting so being fast and efficient whilst still being friendly is key.  Some bank officers work as part of a branch network across several branches. To become a bank customer service officer a VET is banking services, financial services or bookkeeping is usually required although some banks may require a degree in commerce, business or economics. Some entry level roles may be possible without formal qualifications.

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https://www.careerhq.com.au/blog/2017/10/04/how_to_become_a_bank_customer_service_officer-129

Financial Planner

Using a financial planner is becoming much more the norm.  The different types of super funds, insurance, stocks and shares or mortgages make are so complex and confusing it’s easy to see why people want someone else to do the research for them.  Financial planners must understand and be able to explain to clients all the different products available, which ones will suit them best and give them the financial returns and security they are seeking.  Financial planners work with clients and product suppliers to get the best price, keep detailed records of all transactions and provide regular reports to clients. They need to keep abreast of all the regulations and legislation as this is an increasingly heavily legislated industry.  Good negotiation and communication skills are needed for working with clients and financial providers. Planners must be honest, ethical and give unbiased advice to clients in order to work well on their behalf. From 2019 financial planners will require to have a bachelor’s degree in finance, accounting, economics or financial services.  There is also a professional training year and an exam required after your degree.

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