Financial Services

If you’ve been in a finance-related role while in uniform, you’re likely equipped with valuable skills that could open doors in the dynamic world of finance – a sector of constant growth and opportunity in the UK…

What do finance professionals do?

Finance is the backbone of any economy. Professionals in this field manage, analyse, and utilise money and assets, ensuring economic stability, growth, and prosperity. In the UK, financial services are vast, encompassing:

• Banks: High-street names like Barclays, HSBC, and Lloyds, catering to everyday banking needs and business finance.

• Investment Firms: Companies like Vanguard and Fidelity, which manage assets and help grow wealth.

• Insurance Companies: Like Aviva and Prudential, providing a safety net for individuals and businesses.

• Financial Advisory Services: Offering expertise on investments, retirement planning, and wealth management.

• Accountancy Firms: Such as PwC, Deloitte, and EY, ensuring financial statements and records are accurate and tax compliant.

Finance professionals have varied roles, from advising on investments, underwriting insurance policies, auditing company books, to managing public funds. The aim is to ensure capital flows efficiently, risks are managed, and stakeholders get the best possible returns.

Transferable skills

Each sector of the Armed Forces requires financial management. Thus, anyone with roles related to budgeting, procurement, or financial analysis would have a skill set that can transition smoothly to civilian finance roles. Relevant trades and roles in-Service include:

• Budget analysts

• Procurement officers

• Financial auditors and accountants

• Payroll and benefits administrators

• Asset management and logistics roles.

How do I get qualified to work in finance?

Courses aimed at those wishing to enter the finance sector cover:

• Financial analysis

• Asset and wealth management

• Taxation and auditing

• Banking operations and services

• Risk management and insurance.

Professional bodies like the Chartered Institute for Securities & Investment (CISI) and the Chartered Insurance Institute (CII) offer recognized qualifications. Many roles may require ACCA, ACA, or CIMA qualifications for accountancy.

For those wishing to specialise, advanced qualifications like the CFA (Chartered Financial Analyst) can be pursued. Additionally, many finance professionals opt for MBAs to climb the corporate ladder.

Professional institute membership

Accreditation and memberships add weight to your qualifications. Institutions like the Institute of Financial Planning (IFP), Chartered Institute of Management Accountants (CIMA), and Institute of Chartered Accountants in England and Wales (ICAEW) not only provide accreditation but also continuous learning opportunities, networking events, and sector insights.

Finding a job

Entering the finance sector can be through graduate schemes, internships, or direct applications. Veterans with financial roles during service may have a competitive edge due to practical experience. Recruiters value analytical skills, problem-solving capabilities, and attention to detail, which many Service leavers possess.

Various roles in finance offer flexibility, from traditional 9-5 jobs to positions that require international travel. The finance sector also allows transitions into consultancy, entrepreneurship, or fintech.

Financial service apprenticeships; The Chartered Insurance Institute (CII), supports various apprenticeship standards in the insurance and personal finance sectors. Employers might offer apprenticeships that lead to CII qualifications. Institute of Chartered Accountants in England and Wales, (ICAEW) supports apprenticeship standards, and there are many employers that offer apprenticeships leading to the ACA qualification from ICAEW. Contact them direct (see ‘Useful info’) for full details.