FINANCIAL SERVICES - Areas of Work
AT A GLANCE
FINANCIAL SERVICES
About the industry In this guide, “financial services� encompasses a wide variety of roles in the financial sector, all of which have a direct effect on daily life. While monetary remuneration for financial services are typically not as high as those in the investment banking industry, they are still attractive and comfortable. Working hours are also less intensive, and a healthier work-life balance can be achieved. Moreover, according to the financial services industry transformation map (ITM) unveiled in 2018, plans to develop Singapore into a leading international wealth management hub and full-service Asian infrastructure financing hub will create an estimated 3,000 jobs a year. The financial services sector also grew by five per cent in the first six months of 2020 despite the ongoing impacts of the pandemic.
56 | gradsingapore Finance Career Guide 2021
Must-have skills Numerical abilities, critical thinking and analytical skills do not automatically translate into success in financial services. As it stands, a finance-related degree is not even a prerequisite for most positions in the sector; a genuine interest in client service and a willingness to work with numbers are all you really need to make a good start. Once you have entered the field, you will quickly find that it allows you to build a broad range of transferrable skills, preparing you for managerial roles across different areas of work in the future. Many aspects and roles in this expanding industry are service-oriented and client-facing, though, so skills in communication, customer service and negotiation are vital. In addition, problem-solving, leadership, teamwork and time management skills are essential as well, along with an eye for detail.
Getting in Due to the vast spectrum of job roles in the arena, it is generally open to graduates from different backgrounds, so there is no need to worry if you lack relevant work experience or a degree related to finance. Most employers offer structured training too, ensuring you are up to speed in any technical areas on top of working up your soft skills. New hires can look forward to orientation and onboarding programmes which seek to provide broad-based knowledge and a good understanding of the key functions, core values and ethics of the company, and what drives their operations. Many firms will also match you to a mentor to help you make the most of your opportunities, as well as a buddy to provide support.
