Global Money Week 2022 – A Job Guide For Children
This year, the 10th anniversary of Global Money Week, is being held on the 21st – 27th March 2022. It is one part of a multi-faceted approach to improving financial literacy amongst young people.
“GMW is an annual global awareness-raising campaign (coordinated by the Child and Youth Finance International Secretariat) on the importance of ensuring that young people, from an early age, are financially aware, and are gradually acquiring the knowledge, skills, attitudes and behaviours necessary to make sound financial decisions and ultimately achieve financial well-being and financial resilience”.
The theme for this year is Build your Future, be Smart about Money, which aims to focus on the importance of financial planning for young people, and also about the changing nature of financial services and the financial world for our next generation.
A career in finance
In support of Global Money Week, we wanted to introduce children and young people to the roles and responsibilities within the finance and business sector, so they can learn more about what these jobs entail and help to motivate them to pursue a finance and business career.
Every industry needs financial professionals to make sure cash flow, debt, investment and stocks are well maintained, legal, healthy and supportive for future growth.
Finance is a growing, innovative industry to work in, and will continue to be a great source of career establishment for many generations.
What sort of education background do you need to work in finance?
- School: A good grade in Maths and English, and knowledge of languages is a bonus, plus qualifications in IT, economics, sciences or stats before heading into further education or internships.
- University: Bachelor Degrees in Accountancy, Finance, Economics, Maths, and Masters in financial management, business administration, economics or equivalent are desired for senior or management roles.
The financial sector provides a huge opportunity for young people to earn above-average salaries in roles that are both in high demand, and constantly evolving.
Here are some examples of great financial job roles:
- Accounting technicians handle day-to-day money and finance tasks for all types of business.
- Accounting technicians can be employed across a range of industries, from public health bodies to private enterprise to media companies.
- Actuaries work with companies and government departments, to help them forecast long-term financial costs and investment risks.
- Actuaries work in insurance, pensions, or other financial services.
- Internal and external auditors check organisations’ financial records and procedures to make sure they are accurate and efficient.
- Auditors tend to work for large auditing companies, such as one of the “Big Four”, for large private companies, or for charities. Often they are employed as professional outsourced firms.
Bank Manager/Building Society Manager/Financial Institution Manager or Director
- Bank managers oversee the day-to-day operations of their branch, supervise staff and work to attract new customers.
- Bank managers work for banking enterprises, either overseeing all banking services, or in a specialism such as mortgages, premium accounts, or loans.
Banking Customer Service Adviser
- Banking customer service advisers provide a face-to-face service in banks and building societies.
- Banking customer service advisors work either in-house, or remotely, for Banking institutions.
Chief executive/Chief Executive Officer/CEO/Managing Director
- Chief executives lead their organisation and put plans and policies into place to help it be successful.
- CEOs or MDs are senior leaders who are required across every finance industry, from banking to fintech.
Finance officer/Financial Officer/Finance Clerk/Treasurer
- Finance officers help to manage the finances of an organisation by keeping track of its income and controlling its spending.
- Finance officers and treasurers tend to work in larger companies, managing finance teams. They are also required in public service and charitable enterprises..
Financial Services Customer Adviser/Sales Adviser/Contact Centre Agent
- Financial services customer advisers work in contact centres for banks, insurance, investment and credit companies.
- Sales advisors and financial services customer advisers are needed across a range of financial providers, working from contact centres or in-house within finance firms.
Management Accountant/Chartered Management Accountant
- Management accountants look after a company’s finances and find ways to improve profitability.
- Chartered accountants work across public practice firms, and the not-for-profit and public sectors.
Marketing Manager/Brand Manager/Account Manager
- Marketing managers plan how to promote products, services or brands and oversee all marketing activity.
- Marketing managers will lead teams of marketers from within finance enterprises, driving both brand awareness and sales via marketing channels.
Private practice accountant
- Private practice accountants help people and businesses manage their money effectively.
- Private practice accountants prepare accounts, tax returns, and help clients with tax benefits, working with a range of clients from a private accountancy provider.
- Tax advisers help clients plan their finances to make sure they’re paying the right amount of tax.
- Tax Advisors work across the financial spectrum, from governmental departments to private practice to tax consultancies.
(Note: Please note that job roles can differ significantly based on industry, experience, and company policies. The above job profiles are based on descriptions taken from the nationalcareers.service.gov.uk).
To find out more about GMW, head to the Global Money Week Website here, or visit the GMW2022 themes on social media, #GMWBuildYourFuture and #GMWBeSmartAboutMoney.
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Photo on GlobalMoneyWeek2022
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