Banking and Finance – United Kingdom
At RSR Global Limited the banking sector has always been a key area of business for all our specialist divisions and geographical locations. We have a well-established client base covering retail and private banking, wealth management, corporate and commercial banking, capital markets, investment banking, challenger banks and fintech companies. Our clients range from the leading international banks to local consumer banks, specialist boutiques and also consultancies offering services in investment banking analyst jobs or any other international finance jobs.
We are very active in these markets and have built a strong database and network of contacts across all areas of risk, audit, compliance, treasury, cyber security, business resilience and legal. Our consultants specialize in specific areas of banking and so we are able to offer advice and direction based on an in-depth understanding of your area of interest or requirement.
Working in institutions such as banks, insurance consultancies and stockbrokers, financial analysts look at the investment markets, stocks, bonds, hedge funds, and securities. They make policy and strategy recommendations to their employers, based on their findings.
Despite the turmoil caused by Brexit, the UK’s need for Financial Analysts has held steady. In fact, the industry has experienced a 3% increase in international candidates coming to Britain to start their career.
Financial Analysts don’t necessarily work exclusively for banks or investment bodies. Retailers and public service providers also require their skills. To succeed in the field, you’ll need to be able to think creatively, have a strong grasp of financial trends and current events, and be a confident communicator.
The field is a popular springboard to other positions, but the average starting salary for a Financial Analyst is around £30,000, rising to over £50,000 with experience.
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Accountancy is a highly-skilled and disciplined field, which is why good Accountants remain in demand across the UK. In fact, research shows that country will need around 80,000 additional Accountants by 2050.
Essentially, Accountants are directly responsible for the financial affairs of their employers. Their duties involve balancing the books, preparing financial statements, and ensuring their clients adhere to certain rules and legislation.
It goes without saying that all employees in the finance sector need mathematical skill. But, Accountants also must have a keen eye for detail. You’ll also need to go through a significant amount of training before you qualify. Entry-level candidates can expect salaries of around £35,000 to £45,000. Those numbers rise to £70,000 within four years of employment and over £100,000 in senior roles.
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Investment banking jobs remains one of the highest paid jobs in the financial sector and is a highly competitive field.
In fact, Investment Bankers advise their employers on financial matters. They also buy and sell assets on the financial markets to raise money. Investment Bankers must remain vigilant for attractive trades, with the potential to yield a significant return over the short and long term.
Investment banking is a crowded field, and job hunters should aim to distinguish themselves with their academic performance and communication skills.
Beyond the standard mathematics and numeracy skills, Investment Bankers must be ready to work long hours and have a firm grasp of industry ethics. After all, most of the job is spent on the phone negotiating with clients and colleagues.
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Payroll is a popular part of the current financial services outsourcing trend, as businesses seek to add expertise and efficiency to their pay processes. In fact, payroll outsourcing organisations provide a variety of services to their clients. This might be anything from logging work hours and calculating tax, to comprehensive end-to-end packages and the delivery of payslips.
Payroll Administrators must reflect that diversity with a range of skills, including customer service, communication, and management.
Working in an international outsourcing capacity, Payroll Administrators may find themselves working in locations around the world. Candidates for these roles may distinguish themselves with a strong grasp of global payroll practices and compliance. Obviously, proficiency in foreign languages is also advantageous for this.
Entry-level payroll salaries are around £26,000, but the field offers excellent scope for advancement into other financial roles. This includes management, executive and senior positions.
Since the insurance field revolves around financial transactions, employees with accounting and financial backgrounds are in high demand. The UK insurance market is the third largest in the world. The field is diverse, with a huge variety of opportunities and career paths. However, enterprise organisations tend to provide most of the entry-level positions.
Employees may start in the insurance industry as actuaries or analysts, involved in setting insurance rates based on past and current data trends and world events. Ideal candidates will have a university education, an instinct for risk and loss-prevention and a keen eye for detail. Entry-level salaries range from £18,000 to £25,000 and may scale up to £100,000 with experience.
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Current events, including Brexit and various tax reform measures, have brought increased scrutiny of corporate and public financial affairs. Simply put, this means there is an increased need for employees working in auditing capacities.
The UK recently raised its audit threshold to £10.2 million. While this rise reduced opportunities in smaller organisations, the move created an increased need for talent and expertise in mid-tier financial services firms.
Auditors and employees in adjacent roles need to be perceptive and organised. They often need to be qualified with the appropriate regulatory body too. Auditors must also possess extensive compliance knowledge and ability to work well under pressure.
Entry-level auditing salaries start at £27,000 to £30,000, while management level employees can expect to earn around £65,000 and senior executives up-to and over £100,000.