Banking and financial services

Work in banking and money management services such as saving, investing and retirement plans. Careers range from customer service, financial advisers and analyst positions.

Typically, banking and money management services careers thrive in commercial banks, mortgage companies, savings and loan establishments and credit unions. Government agencies and companies also require financial services professionals to manage their portfolios and statements and also to audit and regulate other institutions.

The banking and financial services field is large with many opportunities for growth. In order to get into the banking and financial services field, most positions require a bachelors degree in finance or business related field. Banking and financial services professionals can expect to work in an office or banking environment. They typically work Monday to Friday work hours, but may need to work overtime when necessary. They should enjoy working with numbers, have strong analytical skills and excellent communication abilities to work with customers, clients and stakeholders.

Professionals involved in financial services research, plan and lead financial plan activities to invest and manage resources for companies and organisations. They must be able to interpret financial statements and predict future market changes to recommend beneficial investments and manage financial funds. Financial services professionals such as financial managers manage the cash flow for companies and organisations, overseeing the preparation of financial reports and working with investment strategies.

Individuals seeking a career in banking and financial services may gain experience first in customer service positions in banks, lending institutions and credit card companies. They can also work in account services, facilitating account transactions for banks and loan service organisations. They may then move on to sales positions where they can provide information to investors about stocks, bonds and retirement funds and assist customers with mortgage loans. Financial analysts typically work for investment banks, insurance companies, mutual fund organisations, and pension and securities firms. They provide analytical expertise to the company or organisation on investment predictions and strategies. Overall, banking and financial services is a strong and powerful industry to be in.

Related degrees

Related subjects

Professional associations and industry bodies

Accounting and Finance Association of Australia and New Zealand (AFAANZ) 

Australian Bankers Association Inc 

Australian Financial Markets Association (AFMA)

Australian Institute of Credit Management 

Australian Securities and Investments Commission

Chartered Financial Analyst Society 

Financial Planning Association of Australia (FPA)

Financial Services Institute of Australasia (Finsia)

The Economic Society of Australia 

Skills and personality

  • Ability to comprehend large amounts of information
  • Ability to work for long periods of time in an office or customer service environment
  • Able to interpret financial information and market circumstances and make sound judgements
  • Highly organised to maintain customer/client portfolios and needs
  • Knowledge and adherence to regulations and procedures affecting banking and financial services sector
  • Problem solving abilities when dealing with funds
  • Strong analytical skills to understand financial figures and foresee future trends and advise clients on best options
  • Strong communication skills to work well with clients and present situation and options in a clear and cohesive manner
  • Strong mathematical capabilities
  • Thorough attention to details and numbers