The Financial services industry is a sector of the economy which encompasses all markets and firms involved in money management, consumer finance, investments, insurance and redistribution of risk. It is the largest market resource in terms of earnings and includes depository institutions such as banks and building societies; credit unions and credit cooperatives; finance companies; mortgage banks and loan syndicates; and other financial intermediation firms such as securitizers, investment companies, leasing companies and hire purchase providers.

The wider Financial services sector in any country has three overlapping parts – financial enterprises (such as banks), regulatory authorities and financial markets (such as the bond, currency and stock exchanges). Other important sub-sectors include debt resolution, global payment systems and commodity trading and clearing houses. The broader category also contains financial market utilities such as clearinghouses, derivative and commodity exchanges and real-time gross settlement systems.

Other key areas within the Financial services industry are private equity funds and venture capital firms that supply investment capital to businesses in return for ownership stakes or profit participation. Insurance is a major area which provides protection against death or injury (life and disability income insurance), against property loss or damage (homeowners’ and car insurance) and against the risk of liability or lawsuit (comprehensive and general insurance).

Careers in the Financial Services industry tend to be well paid and offer good job security, although this will vary from company to company. In addition, many firms invest heavily in training and provide opportunities to develop skills through on-the-job experience. This makes them an attractive option for those who are looking for long-term, stable jobs that will reward hard work and success.