Banking can be defined as the business activity of accepting and safeguarding money owned by individuals and other entities, and then lending out this money to make a profit.
Nowadays, banks can provide issuance of debit and credit cards, providing safe custody of valuable items, ATM services, and online transfers of funds across the world to personal clients.
Banks form an important part of the financial services sector, they provide day to day business banking services, payments, and lending facilities via overdrafts, loans, or credit facilities of varying degrees of complexity.
Bankers try to maximise the profit of a bank while maintaining appropriate risk levels and protecting your clients.
The banking industry is very diverse, with more than 20 bank branches and subsidiaries located in Jersey and they include nearly half of the top 25 banks in the world, by Tier 1 Capital, providing domestic banking services on the high street, as well as many others concerned with providing services to customers residing across the globe.
In addition to high street banking, there is private banking which manage the deposits and investments of wealthy individuals. Corporate and institutional banking also exist, where the customers are generally other banks, financial institutions, multinational companies and corporate businesses across the world.
There are many opportunities to join the many global banking organisations based in Jersey and work locally, travel abroad and/or relocate internationally. Due to the size and global nature of banks you often have the opportunity to progress through the organisation or change the area / type of clients you serve while staying with the same bank. In Jersey, you could work in any of the following areas:
- Branches and contact centres
- Client relationship management
- Supporting areas such as data processing, projects, human resources, or technology support
- Financial planning including mortgages, insurance, investments, and pensions
- Financial control including reporting, auditing, and reconciliation
- Risk and compliance including fraud and anti money laundering
- Marketing, communications, and PR
- Communication and interpersonal skills
- Numerical and analytical skills
- Excellent teamwork and team leadership skills
- Project and time management ability
- The ability to work under pressure and cope well in stressful situations
- Relevant degree
- Relevant work experience
- Many local employers offer entry-level/graduate programmes with training opportunities
Some career opportunities may include but are not limited to:
- Retail, International, Private, Corporate, or Institutional Client Relationship Manager
- Financial Control
- Investment Advisor
- Mortgage Adviser
- Risk or Compliance
- Marketing, Communications, and PR