The finance industry, or financial services industry, deals with money on a large scale. Finance includes banking but also many other types of business, including mortgage lending, credit card companies, venture capital firms, the New York Stock Exchange, and so on.
Financial services companies may work with businesses, consumers, or both. This means there’s a wide variety of opportunities in the finance industry. Clients may range from individuals on the verge of bankruptcy to Fortune 500 companies. Clearly, the skills needed for these jobs differ a bit. But at their core, finance jobs are all about money management.
Any finance company is only as good as the people who work there. Hiring the right employees is what makes the difference between a reputable firm and one that becomes synonymous with “scandal.” Luckily, there’s a better, more modern way of hiring the right people for finance jobs—and most other jobs too.
There’s no doubt that someone who works in the finance industry must have honesty and integrity. Many finance employees have access to their clients’ money, which can amount to large sums in the case of businesses. A background check is always necessary in this industry, which can mean eliminating some otherwise qualified candidates.
Someone in finance should also have good discernment and analytical skills. An investor, for example, needs to be able to decide how much of a risk to take with a client’s money. Choosing the wrong fund to put a retired person’s savings into can wipe out a lifetime of earnings in a flash.
The thing is that you can’t always tell these things from an interview. Some job applicants—particularly those with a knack for selling—are good at convincing you in an interview that they’re the right person for the job. But it takes much more than a good sell to succeed in finance.
Screening candidates for the financial industry takes great care. A bad money move can end a career quickly and ruin a business or individual. Resumes and interviews alone aren’t enough to scrutinize candidates for jobs in the financial services sector.
As it is in many other fields, the ability to keep information confidential is key in the world of finance. But other qualities and skills matter in this sector too, such as:
Pre-employment testing for finance is a better way to find the right employees. Smart hiring with the HireNest platform is a simple way to test candidates for all these skills and more. With the help of your HireNest customer success manager, you can design customized assessment programs for all your finance positions. Then, simply test your way to a top team of talent.
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