What jobs are there in the financial industry?

Excerpted from Financial Partner's Collection of Financial Job Hunting and Investigation Report on Financial Job Hunting of Freshmen.

I. Commercial banks

It can be said that most people's final employment is to go to commercial banks. I remember that we made a small sample before, and the bank basically solved nearly 70% of the so-called financial employment. Of course, the most common job is one with no fixed term.

According to several different lines, briefly introduce the setting of internal posts in banks:

1, tube peisheng strip line

Guan Peisheng system is a kind of talent training system, which can help enterprises to realize the long-term planning demand for senior management talents, similar to the well-known civil servant Selected Graduates system.

2. Scope of business

Business lines mainly include lobby managers, tellers and account managers, among which account managers belong to the marketing positions of banks and are divided into individual account managers (wealth management account managers), corporate account managers and personal loan account managers.

3. Retail business line

Personal Finance Department, Credit Card Center and Electronic Banking Department

4. Fund business line

Financial Market Department: In a broad sense, the financial market department includes self-operated fund position management of banks, interbank lending, bond trading, foreign exchange and derivatives trading, precious metal trading and interbank sales. , a wide range. Its most important businesses include: financial market analysis, investment transactions, inter-bank business, derivatives and precious metal transactions. The smaller the bank, the more types of business it may contain, and the four major banks may be divided into smaller ones, and the above businesses may also be assigned to other departments.

Investment Banking Department: At present, there are three main types of investment banking.

The first is the issuance business, such as helping enterprises to issue inter-bank bonds (such as short-term financing bills, medium-term notes and perpetual bonds, which can be traded between banks) and the popular ABS-asset-backed securities. Commercial banks have many outlets, a wide range of customers and strong underwriting ability, which form the basis of commercial banks' bond investment banking business and lay the absolute advantage of commercial banks in this field.

The second category is financial consulting business, which mainly includes enterprise merger and acquisition, securities underwriting, project financing consultant and collective financial consultant. Among them, the financial consulting business uses the bank's customer network, capital resources, information resources, human resources and so on. Provide customers with funds, risks,

Investment and financial management, corporate strategy and other comprehensive consulting services, in fact, financial consulting business is usually called customer resource contracting business.

The third is leveraged financing business. Commercial banks provide enterprises with credit and other funds to help them obtain the funds needed for listing, rights issue, merger and acquisition, shareholding system reform and other activities.

Asset Management Department: Asset Management Department is generally responsible for off-balance sheet wealth management business. Investment in wealth management assets includes standardization and non-standardization. Standardization refers to products that are publicly traded in the inter-bank market and the exchange market, such as bonds; Non-standardized creditor's rights are called non-standardized creditor's rights, which are opposite to standardization, including usufructuary rights, structured financing, entrusted loans, trust plans and so on. The main purpose of investing in non-standardized projects is to obtain higher returns through maturity mismatch. Under the new asset management regulations, the maturity mismatch business will gradually withdraw from the historical stage, but the wealth management subsidiary will open a new chapter for the bank asset management business, which deserves special attention.

5. Other business lines

Corporate finance department and corporate credit business

6. Risk management line

Credit Approval Management Department: The main task of this department is to approve all kinds of new, extended and restructured loans within the corresponding authority according to the credit policy, so as to ensure the separation of loan approval and ensure the asset quality of the whole bank.

Legal Compliance Department: the functional department responsible for legal affairs, compliance management and determination of approval responsibilities.

Audit Department: Similar to the internal audit department, the audit department is mainly responsible for evaluating the risk points of internal control, conducting internal audit, submitting audit reports, identifying responsibilities, analyzing the internal control situation of the whole bank and putting forward internal control suggestions.

All assets guarantee: All assets are mainly responsible for taking the lead in collecting non-performing assets of the whole bank, disposing of debt-paying assets and writing off bad debts, and cooperating with other relevant departments to manage and collect problem loans.

7, comprehensive management line:

Comprehensive management lines include planning and finance department, human resources department, information technology department, office, etc.

I'm sorry, although we talked about so many departments and businesses, most people ended up making cabinets.

Second, securities companies (brokers)

The internal positions of securities companies can be divided into front, middle and back office:

1, example of foreground business line

The business departments at the front desk directly create value for the company, such as brokerage business, investment banking business, research institute and asset management business.

Conduct securities brokerage transactions for investors. Its headquarters may directly manage dozens or even hundreds of business departments. The business department buys and sells stocks, funds, etc. Conduct over-the-counter transactions or online transactions for investors, and collect commissions according to the contract. Brokerage is the main source of income for most securities companies. The income of brokerage headquarters is relatively average, but the income of business department changes greatly with the volume. The investment consultants in the sales department provide consulting services for customers' investment, and their income also changes greatly with their performance.

Investment banking generally refers to IPO, mergers and acquisitions, non-public offering and other equity financing businesses, with a wide range. The investment banking department connects the capital market with the industry. Help enterprises to raise funds through equity, creditor's rights and other forms, or assist enterprises in industrial investment and upgrading through mergers and acquisitions, financial consultants and other forms. The investment banking departments of some companies are also responsible for undertaking some debt financing instruments.

The research institute is mainly responsible for researching listed companies, releasing research reports of related fields or companies to buyers and providing various services. The research institute does not directly create profits, but attracts potential customers as a think tank. The research team will study the macro-economy, the development trend of industries, the interaction between industries and their respective characteristics. Mining valuable listed companies with investment highlights to make suggestions for investors' investment decisions.

In essence, asset management business relies on trust relationship to invest in the name of asset management plan, improve the investment operation of customer assets, and return the remaining investment income to investors after collecting management fees in the future. Brokers' asset management business covers a wide range: after the large-scale fund-raising investment in the past was stopped, many brokers in the secondary market obtained public offering licenses and entered the public offering market. Small-scale capital allocation investment is similar to the products of public fund accounts, but it can't be publicized, with high threshold and small scale. In addition, many types of investment banks have implemented targeted asset management plans. Although the rate is low, it can quickly spread the situation and expand the scale. Generally speaking, the asset management business of securities firms, relying on the sales department and investment research system, occupies an important position in the financial market.

2. China Taiwan Province Business Line

China Taiwan Province mainly includes risk control, compliance, products and other departments.

3. Background business line

Backstage departments include finance, human resources, comprehensive management, clearing custody and information technology.

Third, public offering of funds.

Many people think that the public offering of funds is the wealth of Gao Shuai. In the whole field of large asset management, Public Offering of Fund's institutional system is advanced and perfect, and it is an investment tool suitable for public financial management. There are three main reasons: First, Public Offering of Fund's investment targets are clearly standardized assets such as stocks and bonds, which are easy to value and have high information transparency; Second, the Fund Law endows the fund with independent property, standardized product design and sales at its own risk, and strict supervision systems such as mandatory custody system, daily valuation system, information disclosure system and fair trade system, which fully protects the rights and interests of investors in Public Offering of Fund; Third, Public Offering of Fund has always adhered to professional investment services and low fixed rates, bringing more returns to investors, while its advantage of low management cost is more prominent.

The main departments of fund companies are investment and research, products, markets, fund accounts and other departments.

Investment and research departments include investment department and research department. The investment department selects industries and stocks according to the investment principles and plans formulated by the investment decision-making Committee, and at the same time sets up a management portfolio and issues investment instructions to the trading department. At the same time, the investment department is also responsible for the feedback of investment plans, and provides market dynamic information and investment performance analysis to the investment decision-making Committee in a timely manner. The research department is the supporting department of fund investment, mainly engaged in macroeconomic analysis, industry development analysis and investment value analysis of listed companies, and provides research reports and investment suggestions to fund investment decision-making departments; In addition, the research department also has fund managers to manage funds.

Compared with the seller's research, the buyer's investment research serves the investment manager, in order to gain the approval of the investment manager and promote the growth of the fund's net value and the fund's ranking in the market. The research of the buyer's researcher needs to provide clear investment advice to the investment manager and be responsible for the investment advice. For this reason, most reports have a fixed structure, including industry status, company status, business development and profit analysis, and finally investment suggestions. Buyer researchers pay more attention to the independence of their own research, integrate the logic and viewpoints of brokerage research, conduct more in-depth independent research with their own judgment, and draw clear conclusions, which requires high professional quality.

The product department is responsible for the design and collection of fund products. It is a supplier of "core ammunition" of fund companies. Its main function is to design fund products according to the current situation and future development trend of the fund market and the internal situation of the fund company. Belonging to the middle-office department of a fund company, this position requires strong communication and coordination skills and practical care.

The fund marketing department mainly includes institutional sales and channel sales. Institutional sales are mainly aimed at professional institutional customers, providing them with various products that meet their income requirements, or customizing special account products for them. Channel sales are mainly connected with various sales channels, including banks and brokers. At present, the biggest distribution channel in Public Offering of Fund is still banks, so the marketing department usually deals with the personal finance department of banks and regional outlets.

The fund special account department is mainly responsible for the special account wealth management business, that is, the asset management business of specific customers, which is similar to "private placement in public offering". Refers to the fund management company as an asset manager to raise funds from a specific customer or accept the entrustment of a specific customer's property, and the custodian institution as an asset custodian uses the entrusted property to invest in the interests of asset customers.

In addition, fund companies also include some middle and back-office departments, such as supervision and audit department, risk management department, fund accounting and so on.

The Supervision and Audit Department is responsible for supervising and inspecting the legality and compliance of the operation of funds and companies and the internal risk control of companies. Its main work includes fund management audit, financial management audit and business audit (including research, asset management and comprehensive business, etc.). ), and regularly or irregularly implement and coordinate the company's external information disclosure.

The risk management department is responsible for effectively managing the risks arising or potential in the company's operation. Monitor all business departments and all links in the operation process, and provide reports and targeted suggestions on risk assessment, calculation, daily risk point inspection and risk control measures. Fund accounting is responsible for recording the operation process of fund assets and completing the accounting work of fund investment business on the same day; Calculate the net asset value of the fund on the current day; Complete the accounting check with the custodian bank and recheck the calculation of the net value of the fund.

Due to the flexibility of its license, the scale of fund subsidiaries has increased greatly in recent years, which has provided a great supplement for Public Offering of Fund in business scope and product innovation. Fund subsidiaries generally do not set up separate investment and research departments, but share them with Public Offering of Fund. The business of fund subsidiaries is greatly affected by policies. With the implementation of the new 20 17 asset management regulations, the traditional channel business has been greatly impacted and the future is uncertain. It is expected that it will mainly develop into equity and ABS business in the future.

Fourth, trust companies.

Trust, banking, securities and insurance are also called the "four pillars" of the financial industry. The original meaning of trust is "entrusted by people to manage money on their behalf". It is an act that the trustor entrusts his property right to the trustee based on the trust, so that he can manage or dispose of it in his own name for the benefit of the beneficiary or for a specific purpose. Trust companies are the main financial institutions in the trust industry, and many types of investment and financing businesses are derived. Trust industry has the characteristics of streamlined personnel, large assets under management and high per capita net profit.

The trust industry in China has experienced many twists and turns, but since 2007, trust companies have found their business orientation again and become the "Gao Fushuai" of the financial industry. In the historical opportunity period of 20 10-20 12, the scale of asset management in trust industry soared, which opened the prelude to large asset management. Because of the omnipotence of trust license, it climbed to the second place in the scale ranking of several major financial industries, second only to banks. A good incentive mechanism has also attracted a large number of outstanding employees.

After the implementation of 20 18 new asset management regulations, the provisions on the management of just exchange and net value were broken, which on the one hand avoided the risk of managers covering the default products under due diligence, and on the other hand increased the difficulty of raising trust products. The cancellation of multi-layer nesting and channel regulations will greatly reduce the scale of heavy trust assets in channel business. In addition, the requirements of clearing the cash pool business and preventing the risk of mismatch will make some trust companies that have passed the cash pool and have a serious maturity mismatch face greater liquidity pressure. Improving the entry threshold of qualified investors may reduce the source of potential customers, but it is beneficial for trust companies to identify high-risk investors and help relieve pressure. Finally, the leverage restriction of equity products may affect the development of some trust businesses such as employee stock ownership plan and pledge financing.

Traditional trust business includes channel business of bank-trust cooperation and non-standard financing business. The initial business orientation is to help entities meet the financing needs that banks cannot meet. In the early days, the trust was bound to banks to do various off-balance-sheet financing, and the most irregular financing in the later period was real estate enterprises and government financing platforms. With the downward interest rate and the liberalization of corporate bonds, the market is in an "asset shortage" state, and many institutions are currently seeking transformation. An important transformation direction is capital market investment. However, due to the relatively weak investment and research strength of trust companies, the overall development speed has dropped significantly in recent years. Nowadays, the traditional business is constantly limited, and trust companies are gradually trying to do a lot of securities trust business.

Equity financing business, asset securitization business and private wealth management of investment banks are also the key transformation directions of trust offices.

Trust business departments can be roughly divided into trust business department, securities investment department, investment banking department, risk management department and other departments.

Trust business department: this department belongs to the front desk business department, which is the core of trust company's business development and the direct creator of income and profit. According to the different nature of funds under management, the front-office business department includes the inherent business department and the trust business department. The former manages the trust company's own funds, while the latter manages the funds on behalf of others.

Securities Investment Department: The securities investment business has always been a shortcoming of trust companies, but the trust has been cooperating with many private placements and futures in this respect.

Investment Banking Department: The work content of the investment banking department of a trust company is different from that of the investment banking department of a securities company, and its tasks overlap with the first and second levels. The responsibilities of the investment banking department invested by trust companies include asset restructuring and mergers and acquisitions, acting as an agent to organize new company business, undertaking project financing business, undertaking financial consulting business, engaging in equity investment before listing, undertaking investment intermediary and project intermediary services, etc.

Risk Management Department: This department belongs to the middle and back office, and is responsible for managing all kinds of risks within the scope of work through business plan review, process monitoring, account management, licensing and file management. At the same time, conduct parallel monitoring on the risk management matters undertaken by the business initiating department and supervise the implementation of various risk management measures. At present, some trust companies have also adopted the management mode of "risk control moving forward", that is, in the initial stage of business development, the risk management department sends some risk control personnel to participate in the due diligence of the project and the design of product transaction structure together with the business department to strengthen the risk management and control of the front line of business.

After years of barbaric growth, the overall growth rate of the trust industry is also slowing down. Under the impact of the new asset management regulations, the operational pressure faced by traditional businesses is also increasing. However, the supervision of the subsequent securities supervision system is also strict. In contrast, the advantages of trust license still exist, and trust companies that can successfully transform and upgrade in the future will be able to develop better.

Verb (abbreviation for verb) insurance company

Because of its advantages in capital nature, insurance companies have always been one of the main buyers in the financial market and the most mature and largest institutional investor in western countries. But most employees of insurance companies are engaged in marketing systems. (Many advantages of multi-level management of insurance marketing in China are similar to "MLM model"), especially for individuals, they will also cooperate with a large number of insurance agents and banks.

The actuarial department is mainly responsible for commodity development and management, commodity research, evaluation and business analysis. The Compliance Department is also a typical middle office, which is not much different from other financial institutions.

Other backstage areas include claims settlement, underwriting, customer service, premium, operation, administration, personnel and finance.

The investment department and asset management company, which represent the real "buyer's identity" of insurance companies, belong to the internal "crown department", mainly assisting the asset allocation of entrusted funds, helping to do a good job in liquidity management and supervising the investment behavior of asset management companies. The number of recruits is very scarce. Once in, in the words of friends, it is "suitable for the elderly." After all, this is one of the biggest buyer roles in the market.

Intransitive verb private equity fund

Private equity funds are divided into private equity investment, private equity investment and alternative investment (other types).

Seven. Financial supervision & within the system

Financial supervision institutions mainly include "one line, three meetings", namely the People's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission, financial institutions and financial transaction settlement institutions (such as China Financial Futures Exchange, Shanghai Futures Exchange, Zhengzhou Commodity Futures Exchange, Dalian Commodity Futures Exchange, China Securities Depository and Clearing Co., Ltd., China Government Securities Depository and Clearing Co., Ltd. and Shanghai Clearing House, etc.). ).

The three major state-owned policy banks include China Development Bank, The Export-Import Bank of China and China Agricultural Development Bank, and other policy financial institutions include China Xinbao.

Eight. Pan-financial system category

1, four asset management companies and local asset management companies.

These four asset management companies include Huarong, Dongfang, Cinda and Great Wall. From the earliest bad to all-round non-standard financing and various investments, it is basically a full-license financial control model.

Local AMC is also a provincial asset management company, which has been established in every province. Now every province has 1-2, each with its own characteristics.

2. Financing lease and financing lease

Domestic financial leasing industry can be divided into financial leasing and financial leasing, in which financial leasing companies are non-bank financial institutions and financial leasing companies are non-financial enterprises. In contrast to the rapid growth of financial leasing, there is a big gap between professional and technical talents and management talents in the industry. Although the future of financial leasing industry is slightly narrower than other financial sub-industries, it is a good choice for fresh graduates with academic background and internship experience in the cold winter of job hunting.

3. Financial Advisor/Boutique Investment Bank

Financial advisers, we often hear the word FA, and more people call themselves "boutique investment banks". Its core role is to provide third-party professional services for enterprise financing. Engaged in the license business of capital market listing with traditional investment banks. FA is more of a market-oriented financing service. On the one hand, FA knows a large number of investment institutions and can achieve optimal matching; On the other hand, it helps enterprises to get in touch with the decision-making level of investment institutions and improve efficiency. FA will also assist in buffer such as valuation negotiation and transaction negotiation. In the rivers and lakes of France, Huaxing, Hanergy, Zero2IPO, Touzhong, and later Guangyuan and Taihe seized the opportunity of the rise of China Venture Capital, and made a lot of money through huge financing cases.

4. Factoring company

Factoring, also known as payment guarantee, is a financial term. It refers to a comprehensive financial service model in which the seller transfers his current or future accounts receivable to the factor (a financial institution providing factoring services) based on the goods sales/service contract concluded with the buyer, and the factor provides a series of services such as financing, buyer's credit evaluation, sales account management, credit risk guarantee and account collection. Factoring companies are somewhat similar to leasing, but they are engaged in the financing of accounts receivable.

5. Auto Finance and Consumer Finance

Auto finance means that when consumers need a loan to buy a car, they can directly apply for preferential payment from auto finance companies, and they can choose different models and different payment methods according to their personal needs. Consumer finance is a modern financial service model that provides consumer loans to consumers at all levels. Basically, all major car companies have their own auto financing companies.

Consumer finance company refers to a non-bank financial institution established in People's Republic of China (PRC) with the approval of China Banking Regulatory Commission, which is based on the principle of small amount and dispersion, does not absorb public deposits, and provides loans for consumption for individual residents in China. You can see the consumer finance companies under the banks.

6. Private wealth management institutions

Private wealth management institutions refer to institutions that provide effective wealth management for high-net-worth customers and achieve their wealth goals. Private property management mainly includes three parts: 1, wealth protection, wealth growth and wealth transfer.

7. Accounting firm/consulting company

Accounting firms should be familiar to everyone. For example, in the traditional big four accounting firms (PricewaterhouseCoopers, KPMG, Deloitte, Ernst & Young) and the big eight, there are many people studying tax and law in the tax group. They basically come in as agents for bonded and transfer pricing, or cooperate with the audit to do tax audit a few years later. If they behave well, they will also participate in tax planning. The audit team is mainly engaged in enterprise audit, and there will be no special requirements for the previous professional requirements. The risk management team mainly does internal control and computer audit, so the background of computer and information technology is mostly.

As for consulting companies, there are all kinds, some focus on management consulting (such as MBB, your dream job), some do IT consulting, some focus on financial consulting, and some focus on a certain industry and business consulting.

8. Credit rating agencies

Credit rating agencies are legally established social intermediaries engaged in credit rating business, that is, important service intermediaries in the financial market. It is an organization composed of specialized economic, legal and financial experts to rate securities issuers and securities credit. The rating of credit rating agencies is the basis of pricing various financial products. The lower the credit rating, the higher the credit risk, which means the higher the financing cost.

The three major rating agencies in the world are Moody's, Standard & Poor's and Fitch, and the domestic bond ratings are China Chengxin, Lianhe and Dagong (which had problems before).

Nine, the combination of finance and technology

In the past, the positions of traditional internet financial institutions mainly included: front desk, product design and operation, and business development; Intermediate platform, data analysis, model design, risk control, operation; Backstage, partial technology, such as PC and mobile product development.

At present, the remuneration package in the financial industry and the Internet industry is relatively high in the national economy. Internet finance, as a cross-industry, was once a big "Qian Jing", but the industry risks should not be underestimated. Since last year, a series of policies in the Internet finance industry have been continuously introduced, the scope of supervision has been continuously expanded, and supervision has been gradually refined. The "encirclement and interception" of the policy has made Internet finance companies that have flourished in the early stage enter a "difficult period". The explosion of various internet financial platforms, the boss running away and the company stopping its normal operation have caused many negative impacts on this industry.

Internet finance is mainly divided into two categories. Internet organizations are all engaged in finance, such as BAT, Suning, JD.COM, Netease, etc. As long as they can find good assets and have their own traffic, they can connect smoothly. In addition, financial institutions are also doing Internet-related things. Banks, trusts, funds, and brokerages have all set up internet finance departments, and developing their own apps is equivalent to having their own assets, and only need to get enough traffic docking.

Nowadays, the concept of Internet finance has been considered "unfashionable", and financial technology driven by four core technologies, namely artificial intelligence (AI), blockchain, cloud computing and big data, has become a new hot spot. Many people interpret this as "technological innovation" replacing "financial model" innovation, which is the core transformation of internet finance to financial technology. In the whole market, the discussion on the progress and application of new technologies has aroused great concern in the financial sector.

At present, the "technology content" of the financial industry is somewhat low, and most of them are driven by manpower, so there is a lot of room for the improvement and efficiency of information technology and technology. There are several types here, one is that financial institutions use technology independently to improve efficiency, and the other is that some enterprises can do their own finance after mastering a certain technology (loan risk control, asset securitization through the network, etc.). ), and then enterprises that provide certain technologies for other institutions.