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Career Opportunities in the Isle of Man's Banking Sector

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Globally, there has never been a more interesting time to develop and grow a career in banking. We expect banks to continue looking for motivated and ambitious professionals to join their teams and advise clients and customers on navigating the financial landscape. Also, as online banking technology continues to expand, tech-savvy individuals will be in demand.

There is no doubt that the global financial services sector has undergone a period of significant change, driven mainly by technology. The changes have created a unique set of challenges and opportunities, particularly for those looking to develop and grow their careers in the industry.

The island is a well-established banking centre and home to some of the most well recognised names in the sector. From a career development perspective, banking / private banking offers a wide range of opportunities to professionals. In fact, there are over 100 vacancies in banking across a spectrum of businesses and sub-sectors, offering opportunities to permanent, contract and temporary professionals from graduates and junior level to mid-management and senior positions.

The products and services offered by banks can vary greatly, depending on the customers they serve. Consequently, while some career opportunities are generic across the industry, others will only be available at specific banks.

The high-street bank is probably the most familiar as it provides essential services to the local community, whether individuals or businesses. There are also private banks, which provide services to very wealthy individuals. In addition to the offering of deposit and loan facilities, they may well also provide investment, wealth planning and estate management serviceS, or work with a local fiduciary firm in this respect.

Other banks specialise in offering services, not to individuals directly, but to clients (usually companies) from other parts of the financial sector such as fund administration, investment, fiduciary (trust) and insurance. Indeed, these are often the largest banks on the Island in terms of the number of employees and there are currently several vacancies in these institutions.

The Isle of Man offers an excellent quality of life. Residents enjoy relatively short commuting times, low personal taxes and one of the lowest crime rates in the British Isles, making it an ideal place for families and a safe environment in which to live and work.

I am confident that the sector will continue to offer fulfilling opportunities to talented professionals, across all levels.   

For more information on the Isle of Man finance sector and career opportunities in the Isle of Man visit www.financeisleofman.im and www.locate.im

 

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