The Benefits of Working in the Financial Services Industry in Malta

The Benefits of Working in the Financial Services Industry in Malta

15 days ago

The finance industry provides a vast array of job options. All of the options afford you the chance to grow professionally, study, be innovative, work with clients, and be a part of one of the world's most dynamic and intriguing sectors.

What are the benefits?

Role selection and career advancement - The finance sector offers a plethora of specialised fields and job opportunities, so you're likely to discover something that interests, challenges, and fits you. The majority of companies will provide you with opportunities for career advancement through training, certifications, and professional development programmes.

High earning potential - Many businesses in the financial services sector provide quite alluring benefits and compensation packages.

Global outlook - There are several chances in the sector to collaborate with global businesses, organisations, and clients from a wide range of societies and cultures. Additionally, there are opportunities to serve as secondments in other significant financial hubs worldwide.

Relevant skills - Your future career will benefit greatly from the transferable skills you will acquire in roles within the finance industry. Employers highly value these talents, which include problem-solving, teamwork, project management, and written and oral communication.

An ever-evolving sector - A position in one of the financial services companies may frequently entail leading the charge on worldwide business development and investigating new markets, products, technology, laws, and regulations due to the constantly evolving nature of the financial services sector.

Collaborating with progressive individuals - Due to the wide variety of professions in the finance business, there are many opportunities to collaborate with and learn from globally experienced, highly motivated, and energetic individuals.

Job stability - Because the field of finance is in high demand, job stability is a significant benefit of pursuing a career in it. In general, positions in the field are safe. Since finance is essential to daily living, there are numerous career paths in the field. This allows you greater flexibility to move to a new job, city, or even just a different challenge whenever you feel like it.

4 key lucrative career opportunities in the Financial Services Industry

Remember, a successful finance career requires continuous learning, adaptability and a proactive approach to seize the opportunities. With a gross value added that has grown by 7.7% annually on average since 2010, the financial services industry now employs 5% of Malta's workforce and contributes nearly 10% of the country's GDP. Its crucial role in lessening the nation's reliance on tourism was highlighted during the 2020 COVID-19 pandemic disruption when it grew even as several other industries came to a standstill. Additionally, the industry is significant since it contributes to net exports, which maintain a current account surplus.

Malta has established itself as a center for cutting-edge business accountancy and financial services and solutions in recent years, drawing FinTech and digital-first businesses with its innovative regulatory framework, thus increasing the demand for finance professionals. The majority of the main law firms on the island have dedicated sections for financial matters.

Accountants

Chartered Accountants operate in a variety of environments, such as a top executive of a global corporation, a sole practitioner within a firm, or an in-house or multinational accounting practice.

Generally speaking, the three main areas are tax, audit, and account preparation. Regulatory consulting services are what they frequently offer. Despite certain variations in tax laws and procedures, the services are essentially the same in whatever country you operate in, and you will deal with the same kinds of clients. This indicates that you can simply transfer your abilities from one organisation to another.

Accountants are trained professionals who prepare, maintain, and interpret financial records. They might serve as third-party services or work in-house for businesses. Based on a company's balance sheet, income statement, and cash flow statement, accountants are well-versed in all aspects of its finances. By evaluating these statements collectively, they offer leaders important insights. Using these insights can help you invest, budget, and make decisions that are best for the long-term financial stability of your business.

A good eye for detail, the capacity to spot trends, and effective communication skills are necessary for accountants in order to communicate findings in a way that is understandable and useful.

Among an accountant's duties are: preparing and keeping up with financial statements making sure they abide by current laws; providing business leaders with financial performance reports; preparing and delivering tax documentation on schedule, precisely, and recognising problems and chances to increase revenue; serving as a liaison between lenders, investors, and business owners by giving a clear picture of an organization's financial situation.

Advisors

Financial advisers, like accountants, assist in seeing problems and possibilities in an organization's financial statements and plan for the future. However, they are not in charge of filing taxes, keeping track of finances, or reporting on performance.

It takes multiple exams for financial advisors to get registered. They are usually hired by businesses or individuals to give insight into their existing financial situations and offer advice on how to proceed. They might be especially hired during difficult financial times or at important events that need financial support.

Analysts

Financial analysts utilise their broad perspective of the financial environment to guide their analyses of the financial health of specific businesses. Analysts might be employed to work for a single organisation internally or for several clients in an agency environment.

Financial data is used by analysts and advisors to assist businesses in developing successful financial strategies. Analysts do not produce or oversee financial statements, in contrast to accountants. They also develop prediction models, in contrast to consultants, to evaluate the financial prospects and industry outlooks of businesses.

An analyst's job includes more than just crunching numbers and analysing data; it also entails gathering data, which is frequently accomplished by speaking with influential figures in the industry. To evaluate a company's financial situation, analysts may speak with anyone within the organization.

Institutional Investors and Portfolio Managers

Companies that invest money on behalf of others are known as institutional investors. Mutual funds, insurance firms, pensions, and hedge funds are a few examples.

Portfolio managers are the people who work for these organisations managing investment portfolios. On behalf of their clients, they purchase and sell investment products, including stocks, bonds, and alternative investments. Market trends and a wealth of industry expertise are essential to their roles.

It takes years of expertise in the financial services sector to become a portfolio manager. They advance to managing client portfolios after honing their skills and completing the necessary paperwork for registration and licensing.

How to get a job in the Financial Services Industry in Malta

If you're interested in starting a career in the financial services sector, it's important to first develop your educational background and skill set. If you have a flexible schedule and financial resources, it would be beneficial to pursue graduate degrees and certifications such as CFA or ACCA to enhance your career growth.

AIMS International Malta is your go-to recruitment agency in Malta for financial professionals seeking careers in financial services, accounting jobs in industry or finance jobs in accountancy/tax advisory firms. As a firm that has experience in hiring financial professionals for many years and with qualified and part-qualified ACCA staff involved in the recruitment process, we speak your language and as a result, we are able to match your and the client's requirements closer.

Contact us for your next career move and for a free chat about the finance and accounting opportunities that can help you grow professionally.

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