The financial and insurance services industry is responsible for the management of money. Its work involves creating, facilitating and managing financial assets and transactions, as well as the management of risks and liabilities. Jobs are in government or private companies.
In the public sector, or government, occupations cover areas like, financial policy and regulation, managing government funds and economy, and monitoring large financial movements and companies.
The private sector services range from lending finances and operating money transfer systems, dealing stocks, foreign currency exchanges, providing financial advice planning to companies and people, and managing risk and assets. Jobs are generally in banks, credit unions, superannuation and insurance providers, investment managers and stockbrokers.
Many of the private companies that operate in the financial and insurance services industry have international offices or work very closely with other companies overseas.
- The majority of workers in this industry hold university degrees, though some jobs such as bank tellers do not require post-school qualifications.
- Most jobs are full time.
- Jobs are mostly concentrated in capital cities, in particular Sydney and Melbourne; nearly half the industry is employed in New South Wales.