Making a Career in the Financial Services Sector

Change, is the only constant. We either keep up or become redundant, especially at the work place.Traditional roles overlap and job scopes become increasingly fluid. This shift from the nine-to-five job of the past to today’s mercurial world opens up many exciting challenges and possibilities for us all. Leaving school, college or University is no longer the end of formal education. Whether you want to upgrade your skills to get that much coveted promotion or want a new career, there is a course out there that will help you achieve your goals.

For example, for those working in an office environment, Accredited Financial Services Courses could be highly relevant. Before you begin trawling the internet, you need to first consider the type of college best suited to your lifestyle. Many traditional bricks and mortar educational institutes offer short courses or part-time courses for people who hold down jobs. The main disadvantage of these classes, usually held in the evenings or at weekends, is the lack of flexibility. Students have to shift their schedule to fit the classes into their lives. Not to mention the hassle of commuting.The other options are distant learning (also called correspondence courses) and online learning courses. The huge advantage of these courses is its flexibility. Studying at one’s convenience and in the comfort of one’s own space is liberating.

This option requires self-discipline and good time management. For this reason, it is important that online courses have a buffer in their duration to allow a certain leeway in completing the course. Needless to say, a good computer is a must have for online learning. If this is a problem, the alternative is correspondence courses by snail mail. There is a wide array of online courses available. Business related courses are generally popular and one growth area is in Financial Services. Every business, no matter how big or small needs basic book-keepers and administrators to effectively run their business. With fully qualified book-keepers and payroll officers in Australia earning starting salaries of between fifty to sixty thousand dollars (2011 Hays Salary Guide), Financial Services Courses can be an excellent starting point for anyone looking into this as a career. Make your checks to ensure that you are looking at an accredited course. Unless you are studying for personal interest only, a recognised course is vital in the job market.

Other factors to look for are whether the college is reputable and is known for its quality course materials. It is important to get past and current student feedback. The satisfaction of graduates could indicate how helpful the course was to them once they had completed it. Finally, knowing who the tutors and assessors are and having access to your tutor throughout the course duration is essential. Tutors should be easily contactable for clarification and feedback. That is what stands a good college out from the rest.

Technological Transformation of the Banking and Financial Services Sector

Our life has been transformed by the positive effects of technology. Technological innovations have simplified our life. The changes are visible in every sector. The Banking and Finance sector are among one of those sectors which have completely changed due to technological innovations. Nowadays, we use several advanced banking and financial services like Internet Banking, ATM Transactions, Core Banking Services (CBS), Electronic Funds Transfer, and Cashless Transactions while shopping. These are just a few examples of the changes experienced.

The banking services mentioned above have become a common way of life. A few decades ago there were not even a concepts as such in the banking and financial services sector. More recently, people used to hesitate while using these types of services. They were concerned about the security of their personal information as well as their money. But, secure security implementation techniques in the delivery of such services, packed with time sensitive results encouraged people to leverage the benefit of these services and the use of these services has increased year in year.

To provide a interactive and user friendly service, banks and financial institutions have adopted the most recent technological trends. Queuing at banks is a thing of the past; nowadays customers can enjoy various facilities at the doorstep of their banks and at other locations. Phone banking and SMS banking services can also keep customers updated with the status of their money, investments and offer an array of additional services.

Consumers can use most of the banking services anytime and nearly everywhere. You can transfer funds, pay utility bills, deposit your insurance premiums, and shop online with the assistance of online payment facilities and technology to access these services. Stock or share trading is also not spared with the changes in technology Stock brokers or even everyday normal buyers can have an almost instant up-to-date update and status of the market status of stocks of their interest. They no longer need to wait for newspaper, news channel or need some fancy program.

Most consumers have accepted these significant change in the banking and finance sector. The early adapters are more experimental and they are more willing to accept anything that can make a significant difference in their daily life. One of the best examples of the change in consumer behavior is the global popularity of social networking websites like Facebook, MySpace and the micro blogging website twitter. Just another reflection of how consumers are more readily accepting technology and innovative changes to enrich their life’s or make it easier and more convenient.

Six Sigma For The Service Sector


Six Sigma is all about quality improvement and was first pioneered by Motorola in the 1980s. Over the last few years, this methodology has received much recognition and several companies have adopted it in order to meet their targets. Six Sigma’s clientele include a long list of well-established manufacturers like General Motors, Ford Motor Co., GE, Honeywell and many more. However, there are still many non-manufacturing companies that have come to the conclusion that Six Sigma will not work for them. This is because Six Sigma was originally developed for helping the manufacturing industry. Organizations such as health care systems, financial service providers and educational systems all doubt the usefulness of Six Sigma.

Why The Service Sector Feels That Six Sigma Is Not For Them

The most obvious reason why service companies keep away from Six Sigma is because they perceive it as a manufacturing tool. Service organizations feel that because their companies have a large amount of human work force, there are no measurable defects to be corrected. However, experts say this is not true. A recent survey has shown that service companies that have invested in Six Sigma are all saving millions of dollars for every project. Human resources makes up a large part of all service organizations. To conquer this problem, leaders of the industry can be trained in Six Sigma to balance their employment expertise with statistics-based analytical tools.

The fear of metrics is another obstacle that stands in the way of the service sector and Six Sigma. Most people feel that Six Sigma sounds too technical. The importance of metrics is to give an insight into the business working processes. Service based companies need to focus all their attention on developing Six Sigma projects that specialize in their business needs like customer and cash generation. Convincing the service sector about the merits of taking up Six Sigma has proven to be a big challenge. Most service companies still believe that Six Sigma can only benefit the manufacturing industry.

How Six Sigma Can Benefit The Service Industry
Six Sigma goes in to the details of improving customer service, generating business expansion and gaining knowledge about the service sectors business processes. Most service industries revolve around areas of finance, human resources and sales and marketing. Hence, Six Sigma delves deeply into the subject of soft skills. Six Sigma can be applied to a company that provides housekeeping services. Firstly, the companies working processes would need to be understood.

Using the DMIAC method or the define-measure-improve-analyze-control method, Six Sigma can definitely implement quality in any industry. As the main aim of this methodology is to reduce defects, the first step would be detecting the particular defect. Secondly, data will be collected to observe how, why and how often these defects occur. Next, the Six Sigma team implements an outstanding employees method of working as the normal method for all employees. Finally, new employees are taught the correct techniques.

Six Sigma is useful in the field of sales and marketing as well. According to Six Sigma data, during sales, too much face time with a customer can prove to be counter-productive. Changing this process can result in an increase in the percentage of sales per product. Other industries that Six Sigma has assisted in the past are the financial service sector, insurance companies, management companies, educational institutions, high-tech companies, state agencies and many more.